Bitcoins.com Being Sold At Auction By Mt. Gox Founder Mark Karpeles, Some Proceeds To Go To Investors

Seen as “absolutely the best remaining, and available name” for this new market; selling in Heritage Auctions’ July 24 Domains & Intellectual Property auction

Bitcoins.com

DALLAS — The URL Bitcoins.com will hit the auction block on July 24, 2014, as Part of Heritage Auctions’ Domain Names & Intellectual Property Auction, sold by Mark Karpeles, the controversial founder of the failed Bitcoin exchange Mt. Gox, and is expected to bring more than $750,000.

“We are hoping, with the sale of Bitcoins.com, to provide some relief to the people impacted by the Mt. Gox bankruptcy,” said Karpeles, “and will be putting at least half of the sale amount toward that purpose.”

Bitcoins.com is absolutely the best remaining, and available name for this new market,” said Aron Meystedt, Founder and Director of the Domain Names & Intellectual Property category at Heritage Auctions. “Bitcoin.com, the singular version, is owned and used by Blockchain.info, the world’s most popular bitcoin wallet, and Bitcoinwallet.com itself is also already tied up. For the right investor this is a golden opportunity.” 

The bitcoin payment system, an open payment network aimed at eliminating currency exchange fees and removing the need for intermediary banks, was created in 2009. It is mostly in the last 12 months, however, that it has gained mainstream notoriety, largely with the failure of Mt.Gox.com and the seizure of the nebulous Silk Road website, along with the subsequent liquidation of its Bitcoin assets. Bitcoins (plural) are the actual unit of exchange that has monetary value. 

“The current market capitalization of all bitcoins in circulation is between $7 billion and $8 billion,” said Meystedt. “Daily, there are millions of dollars in transactions in Bitcoins. This auction offers the opportunity to capitalize on one of the most significant developments since the inception of the Internet.”

Bitcoins.com is being offered in the July 24, 2014 auction alongside more than 90 other premium domain names, including OklahomaCity.comDEC.com (the fifth oldest domain name on the Internet, circa 1985), Rides.comSEM.comDigital.comCute.com and SouthernCalifornia.com.

Former Credit Suisse banker becomes Coinfloor chairman

London-based bitcoin exchange Coinfloor has brought in Adam Knight, a former senior manager at Credit Suisse and Goldman Sachs, as executive chairman.

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Knight, who has been an angel investor since leaving Credit Suisse in 2011, has also taken a stake in Coinfloor, which is trying to build a market for high-frequency trading in bitcoin.At Credit Suisse, Knight led a global commodity derivatives trading business and a fixed income department. Before that he ran the global metals trading business at Goldman Sachs.The former banker says that he has been monitoring and buying bitcoin for the last year and has been impressed with how the currency has stood up during that time, despite shocks such as the Mt. Gox debacle.

Explaining the decision to take a punt on Coinfloor, he says: “Having spent my career trading commodity markets I understand the exchange, clearing house and storage models well and wanted to find a team building a platform in this area with the right skills and approach to build a robust global Bitcoin financial services business.”

Coinfloor has made much of its commitment to security and regulatory compliance in a bid to avoid repeating Mt. Gox’s mistakes. Traders are required to use two factor authentication, while all bitcoin are stored offline in secure storage systems to thwart cyber-thieves. The platform is fully compliant with ISO27001 and has registered with HMRC for anti-money laundering.

“It is measures such as these and new initiatives soon to be rolled out that will enable Coinfloor to service both Bitcoin experts and professional traders whilst providing simple to use and understand services to extend Bitcoin usage to a broader set of new users,” predicts Knight.