Bitcoin can be sent via SMS

A new app that is meant to oppose Internet censorship is announced
22 January 2018   1151

A group of developers of a bitcoin-wallet Samourai, prioritizing privacy above all, has announced a unique app Pony Direct. It allows sending transactions to the Bitcoin network through SMS.

In a modern world, blocking access to the Internet based on a plethora of reasons becomes a censorship tool. In order to ensure a continuous flow of transactions, a solution that uses SMS to bypass such restrictions was realized. Considering the nature of an SMS to have a limit on symbols, a datachain of a transaction is first divided into corresponding parts to fit into multiple SMSs, the messages get sent and the receiving device that has a direct access to the Internet extracts the data from the SMSs and re-assembles the chain. Then, the recovered datachain is pushed into the Bitcoin network.

The idea of using SMS is not brand new: in summer of 2017 a Czech developer Pavol Prusnak created a tiny software that allowed transacting by means of SMS. The real difference of the announced product is that it is a full fledged bitcoin-wallet. The first readers of the announcement have warmly welcomed the project.

Lastly, following the team’s spirit of open source, everyone is free to check the app out by accessing the Github project page directly.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   90

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.