Cryptocurrency Highlights Of The Week

eBay adding Bitcoin to Braintree, more than one billion Dogecoin burnt for Dogeparty and 50 million NXT stolen. Here are the cryptocurrency highlights of week 33:

  1. Bitcoin might become available on eBay-owned payment processor Braintree. Braintree handles the payments for online companies such as Airbnb and Hotel Tonight. The digital currency will not yet become available on eBay.com, but over time it would be a logical next step.
  2. Overstock.com has been accepting Bitcoin for a while now, and Bitcoin payments have accounted for $2 million worth of sales since January this year. This equals about 0.25 percent of total sales, and is expected to increase to roughly one percent for the remainder of 2014. Overstock will begin accepting Bitcoin from international customers per mid-September.
  3. Almost 1.2 billion Dogecoins have already been burnt for Dogeparty, a new layer on the Dogecoin network. The burning process involves sending coins to an address where they are permanently unspendable and effectively destroyed. The amount of coins burnt so far corresponds to more than one percent of all Dogecoins currently in circulation.
  4. $1.65 million worth of NXT (50 million coins) has been stolen from cryptocurrency exchange BTER. A rollback, similar to the one implemented by Vericoin when a significant amount of the currency was stolen from exchange MintPal, has been suggested as one of the solutions. A rollback would be a controversial move, as the Vericoin rollback was already condemned by various prominent cryptocurrency members such as Litecoin founder Charlie Lee.
  5. It was a rough week for most of the major cryptocurrencies. Bitcoin lost 15 percent of its value, while both Litecoin and Dogecoin lost 26 percent of their value compared to one week ago. One of the theories concerning the cause of the drop blamed a report by the Consumer Financial Protection Bureau, warning consumers for the risks associated with virtual currencies.