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Bitcoin value tanks again as Mt. Gox details the ‘bug’ that is forcing it to suspend withdrawals

Feb10
by on February 10, 2014 at 11:23 am
Posted In: Around the Web, Insider

bitcoin 520x245 Bitcoin value tanks again as Mt. Gox details the bug that is forcing it to suspend withdrawals

The Bitcoin payment processor Mt.Gox today said that it would not re-instate Bitcoin withdrawals until it was happy that the underlying system for tracking transactions was completely secure.

The company made the announcement in a press release explaining exactly why it had been forced to put a hold on transactions for now.

Ultimately, it seems as if ‘transaction malleability’ is the problem – the ability for someone to make it look like a Bitcoin transaction didn’t take place, when in fact it did. As the transaction then appears unsent, there’s the possibility that it will be carried out again and the Bitcoins re-sent for a second time.

While Mt.Gox says a software bug is to blame for the issue, it claims it’s a wider problem that affects any system that involves sending Bitcoins to a third-party. As a result, it has ultimately decided to maintain its hold on withdrawals until it has been fixed:

The problem we have identified is not limited to Mt.Gox, and affects all transactions where Bitcoins are being sent to a third party. We believe that the changes required for addressing this issue will be positive over the long term for the whole community. As a result we took the necessary action of suspending Bitcoin withdrawals until this technical issue has been resolved.

As the largest Bitcoin exchange, there’s a lot of attention on Mt.Gox and the virtual currency. With software bugs still evident, outright bans and highly volatile valuations, there’s clearly still a long way to go before Bitcoin can prove itself as a viable, stable and secure digital currency.

As a result of this latest situation, the value of Bitcoin has been plunging rapidy. From valuations once in excess of $1,000 per Bitcoin, the virtual currency is now trading at around $570 on most exchanges and lost more than $43 in 30 minutes alone today, according to Bitcoin Market on Twitter.

Featured Image Credit – Zach Copley/Flickr

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You can now create your own comic-style animated GIFs on Chinese photo app MomentCam

Feb10
by on February 10, 2014 at 10:57 am
Posted In: Apps, Around the Web, Asia, momentcam, Product Updates

shutterstock 172272179 520x245 You can now create your own comic style animated GIFs on Chinese photo app MomentCam

Last year, we wrote about MomentCam, a Chinese photo app that strangely went viral and was subsequently launched in English.

The photo-taking and editing app, which comes with a range of customization options to transform your photo into a comic character, is produced by China’s Hightalk Software. Essentially, it uses advanced facial recognition to paste your face onto comic caricatures, and you get to make edits after that happens.

Now, the app has been updated to let you create comic GIFs of yourself (hat/tip Tech in Asia). The new feature is found under the ‘Emoticons’ tab of the app homepage.

image 3 You can now create your own comic style animated GIFs on Chinese photo app MomentCam

Accessing the ‘Emoticons’ tab prompts you to take a selfie. Once done, your face is planted on some random cartoon character — which moves! There are a total of 144 different GIFs which you can select. You can also choose a hairstyle for yourself, and adjust your face shape. Finally, you can save and share the GIF — to social networks including Facebook, Twitter, Instagram and popular Chinese messaging service WeChat.

MomentCam GIF 730x431 You can now create your own comic style animated GIFs on Chinese photo app MomentCam

It seems like MomentCam is keen on not being brushed off as a one-time wonder — and this latest update is a creative attempt to make the caricatures even more adorable for users to share with their friends. However, it could be that the app may have had its 15 minutes of fame already, and it could take much more to reel in or retain new users.

➤ MomentCam | iOS | Google Play

Headline image via Shutterstock

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Offline over the weekend? Read all the tech news you missed right here

Feb10
by on February 10, 2014 at 10:04 am
Posted In: Around the Web, Insider, Roundups

coffee 5 520x245 Offline over the weekend? Read all the tech news you missed right here

As the blissful embrace of the weekend gradually fades away to be replaced by the unflinching working week ahead, there’s still time to relax and take a few minutes to catch up with all the best news and features from over the weekend.

So, rub those bleary eyes, make a coffee and start catching up on everything you missed in the world of tech over the last two days.

News from over the weekend at The Next Web:

Good reads:

From beyond The Next Web:

Featured Image Credit – Getty Images

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EE launches tailored ticketing service for UK concerts, comedy and more

Feb10
by on February 10, 2014 at 9:23 am
Posted In: Around the Web, Mobile, UK

EE Tickets 730x521 EE launches tailored ticketing service for UK concerts, comedy and more

UK mobile operator EE has launched EE Tickets, a new portal where customers can sign up to receive recommendations on which gigs and other events to attend.

The site, which was announced today, will suggest events and gigs across music, theatre, comedy, sport and family-friendly attractions and is being offered thanks to a partnership with Last Second Tickets. By inputting a little information, it’ll make its suggestions based on where you like to go out and what kind of events you attend generally. You can also set how often you get updates.

EE said that many of the tickets being offered through EE Tickets are being done so at a discount, and that it can be used by customers of EE, T-Mobile or Orange.

➤ EE Tickets

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Caution: Pointless Message

Feb10
by on February 10, 2014 at 8:33 am
Posted In: Around the Web

I was walking through the Wellington CBD the other day on one of those rare fine days that occasionally falls between earthquakes that warrant a 7.2 on the sphincter scale and hurricane-force Southerlies, when I came across this sign:
Caution - Pointless Message

I’m not really sure of the sign’s intention. What kind of caution should one exercise here? Run fast to avoid falling people? Refrain from undoing the hand-brake on those scaffold wheels? Don’t look up in case they are Scottish migrant workers? Damned if I know, really. Had I not donned a hard-hat I would have scratched my head.

Anyway, I thought that question on warning messages crossed with kilt imagery would segue nicely into a “Show us ya Messages” open post.

I’ll go first.

Here’s a couple from a Project Costing Model I put together recently.
Caution - Pointless Message - New Option

Caution - Pointless Message - Faster than light

How ’bout you all? Anything snigger-worthy from your apps that you’d like to share?

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