VENTURE CAPITAL POST

Marc Andreessen, venture capitalist and founder of Netscape, is optimistic that tech is already recovering from the 2008 financial crisis and that it has decades of growth ahead, TechCrunch reported.

A massive cyber attack from unknown sources that has been spamming bitcoin exchanges is highlighting some of the dangers people can encounter when they exchange cash for digital currencies like the bitcoin, experts said on Wednesday.

Governor Raghuram Rajan of the Reserve Bank of India has reiterated concerns about the stability and credibility of virtual currencies like the Bitcoin, TechCrunch reported.

The biggest Bitcoin exchange Bitstamp has temporarily halted processing withdrawals because of a denial-of-service attack but assured users that no funds have been compromised, TechCrunch reported.

The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected "unusual activity."

The Central Bank of Russia echoed its statement that the Ruble is the country's official currency, and being a money substitute, Bitcoin is now banned because it is reportedly used in illegal activities.

Alleged Silk Road operator Ross William Ulbricht will have a November 3 trial date after pleading not guilty in a Manhattan federal court, Bloomberg reported.

State authorities in Florida have arrested and filed charges against three individuals who they alleged were doing illegal operations involving substantial amounts of Bitcoins, Krebs on Security reported.

The value of digital currency Bitcoin plunged 21% to $619 from $783 after Tokyo, Japan-based exchange paused its trading because of an increase in withdrawal requests.

New Bitcoin startup investor Ben Horowitz of US-based venture capital firm Andreessen Horowitz and Bitcoin skeptic Felix Salmon made a bet against each other on the status of the digital currency as a payment mechanism by 2109.

Startups that intend to give Bitcoin investors protection from losses arising from hacking and theft have emerged from the phenomenal rise of the digital currency, Bloomberg reported.

iPhone fans aren't too happy that Apple has decided to remove a Bitcoin application called Blockchain from the app store, with some taking extreme action to show their displeasure to Apple, Bloomberg reported.

Tokyo, Japan-based Bitcoin exchange Mt Gox announced on its site that it temporarily halted Bitcoin withdrawals to resolve a technical problem that arose from the increased withdrawal traffic.

Tech giant Apple has cleared the App Store of all Bitcoin mobile wallet apps by pulling Blockchain from the store on Wednesday without a clear explanation for the move, but retained other non-wallet Bitcoin apps in the said store.

The hearing held by New York State banking regulator Benjamin M. Lawsky points to more regulation in Bitcoin's future, The New York Times The Dealbook reported.