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Defendant in Tasmania’s ‘Biggest Drugs Bust’ Paid with Bitcoin

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A southern Tasmanian man has pleaded guilty to trafficking a controlled substance, following what the police have called the biggest drugs bust in the state’s history.

Nicholas Mark Stebbins trafficked drugs including amphetamines, MDMA and cocaine with an estimated street value of $11m between August 2012 and July 2014 – and paid for them with bitcoin.

Hobart’s Supreme Court heard that Stebbins helped arrange and pay for seven parcels filled with drugs to be posted to Tasmania from overseas.

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%name Defendant in Tasmanias Biggest Drugs Bust Paid with Bitcoin

Daily Bitcoin Price Analysis – 24th February

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After crashing to 232 at the start of this week, bitcoin has finally displayed improvement and has been treading cautiously towards the north over the last 24 hours. The slagging bullish correction is caused by the absence of trading volume.

25th feb bitcoin price.fw  Daily Bitcoin Price Analysis – 24th February

February 24th Bitcoin Trading Session

The BTC/USD opened near the presumed resistance level around 240, after surging smoothly from the 232-234 support area.

New Hampshire Lawmakers Debate Accepting Bitcoin for Tax Payments

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dc0cHearing 630x344 New Hampshire Lawmakers Debate Accepting Bitcoin for Tax Payments

The New Hampshire state legislature held a pair of hearings earlier this month that focused on how the state could create a means for residents to pay taxes and fees using bitcoin.

Up for debate is a bill recently filed by state representative Eric Schleien that would open the door for the state to accept bitcoin. The bill is currently being weighed by the New Hampshire General Court Ways and Means Committee.

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%name New Hampshire Lawmakers Debate Accepting Bitcoin for Tax Payments

Europol: Bitcoin’s Popularity Growing in Illicit Online Markets

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Bitcoin is increasingly being used to pay for livestreams of child sex broadcasted over illicit Internet sites, according to a new Europol report.

Produced by Europol’s EC3 cybercrime centre, the report sheds new light on the commercial sexual exploitation of children online, while providing evidence that individuals with a sexual interest in children are becoming more entrepreneurial.

“Live streaming of abuse for payment is no longer an emerging trend but an established reality”, the report said.

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%name Europol: Bitcoins Popularity Growing in Illicit Online Markets

Boston Fed Researchers: We’re Bullish on Bitcoin as a Technology

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9124Screen Shot 2015 02 24 at 11.03.37 AM Boston Fed Researchers: We’re Bullish on Bitcoin as a TechnologyThe Federal Reserve Bank of Boston became one of the first members of the US central banking system to issue an in-depth paper on bitcoin last September that suggested the digital currency was emerging as a cost-effective online shopping tool.

Fast forward to today, however, and the number of large merchants entering the bitcoin ecosystem seems to be stagnating. Though major e-commerce players such as Dell and Overstock are expanding the payment option overseas, there has yet to be a billion-dollar merchant of their stature to begin accepting bitcoin in 2015.

In a new interview, Boston Fed researchers Stephanie Lo and J Christina Wang indicate that they remain interested in developments in the bitcoin space, and that they have noted a number of reasons why bitcoin’s use case in online commerce may have become less compelling since the publication of their original report‘Bitcoin as Money?’

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%name Boston Fed Researchers: We’re Bullish on Bitcoin as a Technology