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+15 +1
What’s Not Being Said About Bitcoin
Mt.Gox is gone. The one-time biggest Bitcoin exchange closed its doors this week and filed for bankruptcy this morning. Questions about the future of Bitcoin..
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Bitcoin Explained
A short video looking at 'Bitcoin', a decentralized digital currency.
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Can bitcoin capitalize on the death of Mt Gox?
In November, I said that I was waiting for bitcoin to get boring – and it certainly isn’t boring yet. The death of Mt Gox has created headlines saying things like “Bitcoin future in doubt” and “Mt. Gox Meltdown Spells Doom for Bitcoin”; those, in turn, have sparked their own backlash of people saying that in fact this development is one of the best things that could have happened to the cryptocurrency.
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+23 +1
As Iceland's Auroracoin “Airdrop” Approaches, What Does It Mean When A Nation Adopts A Cryptocurrency?
Iceland has its own Satoshi. A programmer called Baldur Friggjar Odinsson has created an alternative to bitcoin that he is calling AuroraCoin and in twenty-three days he will “airdrop” 31.8 coins to every citizen of Iceland – all 330,000 of them. It is, in short, a pretty ballsy move.
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PayPal washes its hands of bitcoin scam
Will Phillips is £5,300 out of pocket after falling victim to a very 21st-century financial scam involving hacked PayPal accounts and the digital currency bitcoin. For the uninitiated, bitcoin is a "virtual currency" that, depending on who you believe, is going to change the world by turning e-commerce on its head, or end very messily like a modern-day version of the "tulip mania" that gripped the Netherlands in the 17th century.
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+18 +2
Japan to regulate Bitcoin trades, impose taxes
The Japanese government will set rules for trading bitcoins, defining the virtual tender not as a currency but as a commodity akin to gold. Gains from trading bitcoins on online exchanges, and purchases made with them will be subject to Japanese tax. Banks will be prohibited from handling them, and securities firms will be barred from brokering Bitcoin trades.
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+8 +2
Canadian bitcoin bank collapses after hackers steal digital currency
A Canadian bank specializing in bitcoins says it has closed after computer hackers stole its digital currency. The closure of the Flexcoin bank comes just a week after the collapse of Mt. Gox, a major bitcoin exchange. The Japan-based Mt. Gox also linked its demise to an electronic heist. The twin failures of Mt. Gox and Flexcoin will likely raise more doubts about bitcoin’s ability to establish itself as an alternative currency.
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Bitcoin Is Just As Broken as the Banking System It Was Trying to Kill
A decentralized digital currency was a beautiful thought, but Bitcoin wound up immediately inviting the same kind of corruption it sought to end in a rigged, top-heavy global economy.
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The Free-Market Cluelessness of Bitcoin Enthusiasts
Hailed as a perfect answer to the evils of fiat money, the virtual currency has come crashing down because the invisible hand is paralyzed without government.
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+14 +1
Bitcoins: The second biggest Ponzi scheme in history
I hereby make a prediction: Bitcoins will go down in history as the most spectacular private Ponzi scheme in history.
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+12 +1
MtGox faced 150,000 attacks per second: report
Bitcoin exchange MtGox faced massive hacker offensives last month, coming under some 150,000 DDoS attacks per second for several days ahead of its spectacular failure, a report said Sunday. The Tokyo-based exchange, which filed for bankruptcy protection in February and admitted that it has lost half a billion dollars in the digital currency, has come under serious cyber-attacks in particular since around February 7, the Yomiuri Shimbun reported.
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+5 +2
How China's official bank card is used to smuggle money
Growing numbers of Chinese are using the country's state-backed bankcards to illegally spirit billions of dollars abroad, a Reuters examination has found.This underground money is flowing
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As Dogecoin's largest exchange crashes, panic sets in
The Dogecoin honeymoon is over. The alternative cryptocurrency, named after the popular meme, rode wave after wave of good press; from bankrolling the Jamaican bobsleigh team at the Sochi Winter Olympics to the recent fundraising attempt to raise 40 million doge for a Kenyan water charity. It was the cryptocurrency that could do no wrong.
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+47 +2
MtGox finds 200,000 lost bitcoins
The firm said it found the bitcoins - worth around $116m - in an old digital wallet from 2011. That brings the total number of bitcoins the firm lost down to 650,000 from 850,000.
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+21 +7
Icelanders can now each claim $400 worth of Auroracoin, the country's new digital currency
At midnight this morning in Iceland, digital currency fell from the sky. The developer behind Auroracoin, a digital currency designed exclusively for Iceland, has made $125 million worth of coins...
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The Fierce Battle for the Soul of Bitcoin
There's a fundamental rift over what bitcoin should become. Many of the currency’s original proponents—call them crypto-libertarians—see it as a step toward an entirely new economy, one that can’t be influenced by an overweening federal government or rapacious financial industry. Meanwhile, some of the new entrants to the bitcoin universe—venture capitalists and entrepreneurs—have a much different vision.
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Experts Found That Mt.Gox Lost A Mere 386 Bitcoin Due To Transaction Malleability
In the long, kabuki saga that is the fall of Mt.Gox, one point seemed always clear: the company lost loads of bitcoin to hackers using a bug called transaction malleability. It seems, however that this is wrong. According to a team at the ETH Zurich University, the company allegedly lost only 386 BTC or $200,000, nowhere close to the 744,408 bitcoins rumored to have been lost in the attack.
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MtGox: The deadline has extended till May 9, 2014! - Zombies Lounge | Technology News including Mobility, Cloud Computing and Future technologies
The Tokyo court has extended deadline for the examiner to submit the results of the MtGox investigation to May 9, 2014, providing more time for Mt Gox. The report was expected today after a month long analysis made on the MtGox system. This would be another setback for the users anxiously waiting for their funds. The …
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Before Mt. Gox's Implosion, Employees Say The Company Was Using Client Money To Cover Costs
Two years before Mt. Gox filed for bankruptcy, a half dozen employees at the Tokyo-based bitcoin exchange challenged CEO Mark Karpeles over whether client money was being used to cover costs, according to three people who participated in the discussion. The question of how Mt. Gox handled other people's money - the issue raised by staff in the showdown with Karpeles in early 2012 - remains crucial to unraveling a multi-million dollar mystery under examination by authorities in Japan.
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Bitcoin Has Been One of the Worst Investments in the World This Year
You’d have to hunt pretty hard to find a worse investment over the last three months than Bitcoin. The electronic currency is down 38% against the US dollar since Dec. 31, making it one of the worst assets that we keep an eye on here at Quartz.
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