Bitcoin Weekly 2016 August 10: Bitfinex trading coming back online, App Store fake Bitcoin apps, Kim Dotcom Megaupload Bitcache talk

Bitfinex is big news this week, especially after the hack last week, and the company has begun reporting that it expects to bring most of its trading platform back online along with deposits. The iTunes App Store is still having troubles with fake Bitcoin apps appearing – Apple has been removing those last discovered and reported but new ones have arrived recently.
Kim Dotcom from Megaupload fame has also been tweeting a lot more about the upcoming resurrection of the platform and how it will provide bitcoin microtransactions for uploaders sharing files. Although details on how this will work are slim.
As for the market, it has been over a week since Bitfinex went offline, an exchange that represented over 50 percent of the total trade volume of BTC for USD. At the time, this had a notable effect on current Bitcoin market value and the price is only now beginning to recover. Currently the BTC market value is rising and sits at $597.32 USD (according to BitcoinAverage.com). Analysis charts at Cryptocompare.com show the market dipped down to the $570 range on August 3, which then rose to the $590 range around August 6. The price saw a recent pop up near $600 again within the past 24 hours.

This post was published at Silicon Angle on Kyt Dotson /Aug 10, 2016.