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+9 +2
Why China wants to dominate Bitcoin
China has experience with virtual currencies. So it understands why it is important to quickly become a leading player in the Bitcoin market.
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+16 +1
12 questions you were too embarrassed to ask about Bitcoin
This has been a big week for Bitcoin. On Monday, the Senate Committee on Homeland Security and Governmental Affairs held the first-ever Congressional hearing on Bitcoin. Later in the day, the currency's value reached an all-time high of more than $800. That has left a lot of people scratching their heads. What's Bitcoin? How do you use it? And why would anyone want to? Read on for answers.
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+17 +1
Gaming Company Fined $1 Million For Secretly Using Players' Computers To Mine Bitcoin
Back in April, an online gamer noticed that his computer seemed to be working harder than it should be given what he had running on it. When he checked his logs, he realized that his computer, much to his surprise, had joined a Bitcoin mining pool in the Czech Republic and was helping someone to mine the cryptocurrency.
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+9 +1
Here’s who (probably) did that massive $150,000,000 Bitcoin transaction
One of the unique things about Bitcoin is that every transaction on its network is publicly available for anyone to examine. Any time a user sends a payment to another user, that transaction is reflected in the "blockchain," a global, permanent ledger of Bitcoin transactions.
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+19 +2
Did Bitcoin creator 'Satoshi Nakamoto' invest in Silk Road?
The Weizmann Institute’s Dorit Ron and Adi Shamir have been closely studying the movement of the semi-anonymous digital currency Bitcoin, and today published a paper that highlights an unusual set of transactions that may closely link its inventor, a mysterious figure known as Satoshi Nakamoto to Silk Road mastermind Dread Pirate Roberts.
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+7 +1
Once You Use Bitcoin You Can't Go 'Back' — And That's Its Fatal Flaw
As a security researcher, I admire bitcoin-the-protocol. But I believe bitcoin-the-currency contains a fatal flaw.
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+15 +2
Missing: hard drive containing Bitcoins worth £4m in Newport landfill site
A digital 'wallet' containing 7,500 Bitcoins that James Howells generated on his laptop is buried under four feet of rubbish
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+18 +1
The Magic Number: Bitcoin Prices Top $1,000
The value of a bitcoin has topped $1,000, a mere 11 months after the fledgling digital currency was worth little more than a $10 bill.
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+14 +1
In Bitcoin’s Orbit: Rival Virtual Currencies Vie for Acceptance
For many people, bitcoin seems like something from the day after tomorrow. For Lawrence Blankenship, it’s already a thing of the past.A software engineer from Springfield, Mo., Mr. Blankenship is putting his money on PeerCoin, one of the biggest of the virtual currencies that are being promoted as alternatives to bitcoin.
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+7 +1
Crypto-Currency Bubble Continues: Litecoin Surpasses Billion Dollar Market Capitalization
Following yesterday’s news that Bitcoin had passed the $1000 mark, the halo effect continues this morning with the crypto-currency market capitalization site coinmarketcap.com reporting that Litecoin has joined the billion dollar virtual currency club. Litecoin is currently trading at $48.99 with a market cap of $1.14 billion dollars (as of writing).
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+29 +1
Bitcoin under pressure
Virtual currency: It is mathematically elegant, increasingly popular and highly controversial. Bitcoin’s success is putting it under growing strain.
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+17 +4
East African countries agree to adopt common currency within 10 years
Five east African countries have taken the first steps towards establishing a common currency. At a meeting in Kampala, Uganda, the presidents of Burundi, Kenya, Rwanda, Tanzania and Uganda said they would adopt a single currency within the next 10 years.
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+15 +3
Thoughts on Bitcoin
Maybe bitcoin will be the world reserve currency, maybe it will totally fail, or maybe it will survive in some niche capacity. I don’t know how to weight the probabilities (although I think in the immediate term it's likely to go down), but I do have a thought about the metric to watch: growth in legitimate transactions. A currency without the major use case being legitimate transactions is going to fail.
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+9 +2
Yuan Passes Euro as Second-Most Used Trade-Finance Currency
China’s yuan overtook the euro to become the second-most used currency in global trade finance in 2013, according to the Society for Worldwide Interbank Financial Telecommunication. The currency had an 8.66 percent share of letters of credit and collections in October, compared with 6.64 percent for the euro, Swift said in a statement today.
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+16 +3
Bitcoin banned from Chinese banks amid fears of laundering
Chinese regulators have banned financial institutions from using Bitcoin, warning that the virtual currency could be used for illegal activities and speculation.
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+11 +3
Bitcoin hype worse than 'tulip mania', says Dutch central banker
"At least when tulip mania ended you got a tulip at the end," said Nout Wellink, a former Dutch central banker. By Alex Hern
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+13 +2
In the Murky World of Bitcoin, Fraud Is Quicker Than the Law
The call went out on Twitter: “For insane profits come and join the pump.” It was an invitation to a penny stock-style pump-and-dump scheme — only this one involved Bitcoin, the soaring, slightly scary virtual currency that has beckoned and bewildered people around the world. While such bid ’em up, sell ’em off scams are shut down in the financial markets all the time, this one and other frauds involving digital money have gone unchecked.
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+11 +2
The Real Reason for Pensions
Augustus Caesar, in 13 B.C., worried that retired soldiers might rise up against the empire. So he came up with a clever solution: after twenty years in a legion and five years in the military reserves, a soldier would earn, in a lump sum, a pension that worked out to about thirteen times a legionnaire’s annual salary. Pay the veterans off, the reasoning went, and they’ll be less inclined to overthrow you.
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+11 +1
Bitcoin Crashes, Loses a Quarter of its Value.
Bitcoin's value plummeted today, by 25% from a high of over 1100 US dollars per BTC to a low value of under 830. The virtual currency, whose value has increased five-fold in just over one month, has been at risk of such a spectacular crash due to speculative investment in the now multibillion dollar market.
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+11 +3
Lamborghini Newport Beach Gets All-Electronic Currency for All-Electronic Vehicle
I've written before about the Lamborghini dealership in my 'hood--so close that I could reach it sleepwalking on Ambien in about 3 minutes. There are always Italian sportscars worth hundreds of thousands of dollars each in the Lamborghini Newport Beach showroom along Baker Street near Harbor Boulevard in Costa Mesa, where the outdoors lot at times is filled with rides but more often is not.
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