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Satoshi Dice Founder Calls Bitcoin the “New Frontier”, Ends Week Under the $100 Frontier

July 26, 2013 at 20:46 by BitcoinNews

It was a slow trading week for Bitcoin, at least at Mt. Gox, which remains the largest exchange. Since mid-week, Bitcoin found resistance at $97.5 in very low volume, and ended Friday at $96.23. There were only two significant bursts in volume over the week, on the Mt. Gox weekly chart, which kept Bitcoin hovering close to $100. A total of 6,499 Bitcoin were traded between $92.5 and $97.13 on Tuesday, and a similar amount of 6,390 Bitcoin on Thursday brought the price to $97.22.

Erik Voorhees, who last week made headlines in selling his Satoshi Dice game for over $10 million worth of Bitcoin, in an interview with Bitcoin Magazine, has called Bitcoin “the new frontier.” In the interview, Voorhees explained how Bitcoin’s decentralized design makes it neutral and apolitical, and thus it does not by its very nature exclude anyone nor by itself recognize political boundaries.

Moreover, he stated that the digital internet currency has the potential to eliminate friction in transactions and create gains in trade which benefit its community of users. This particular feature, he speculated, could spur wider adoption in the search for a competitive advantage. Toward that end, Voorhees explained that the most critical need now is for secure and fast Bitcoin exchanges to bring new users seamlessly into and out of the tool.

Other big news for Bitcoin this week was the SEC allegation that Trendon Shavers was the man behind the infamous Pirateat40 moniker, who stole millions in his “Bitcoin Savings and Trust” ponzi scheme. The Bitcoin community itself appears to be involved with investigating Shavers late last year and shared their efforts on the Bitcointalk forum.

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