After the weekend’s 20 percent plunge and Monday’s flash crash, columnists and pundits discussed the idea that this is the end of bitcoin (BTC) and the cryptocurrency market. Bitcoiners scoffed at the notion because it’s a four-year-old currency and electronic payment system and there … [Read more...]
Bitcoin used to pay for illegal drug trades in Sweden
Here we go again? The Swedish Daily News (via the International Business Times) reported Monday that bitcoin (BTC) was used by drug dealers in at least six transactions throughout last year. Sources say that most of the drug trades were performed on the Internet, a piece of news … [Read more...]
“The Bitcoaster We’ve Grown to Love and Hate”, A Bitcoin Story
Is Bitcoin's (BTC) nosedive a case of ‘been there, done that’? The Bitcoaster we've grown to love and hate. 2013 was a bit of a rollercoaster for bitcoin. It started off the year worth only a few bucks before skyrocketing to more than $1,000 towards the end of the year. Over the … [Read more...]
Don’t plan on withdrawing Bitcoin from Mt Gox any time soon
So much for Bitcoin's (BTC) month of perpetual stability. After a month of steady prices – bitcoin averaged somewhere between $800 and $900 throughout January – the digital currency dropped 20 percent to as low as $680.50 Thursday evening. The virtual currency has since gone back … [Read more...]
25 million Bitcoin addresses in use and 95% of them hold 0.001 BTC
It’s no secret that those who adopted Bitcoin (BTC) its infancy stage have made an obscene amount of money. Starting from just a few cents, the digital currency has skyrocketed to as high as $1,200 before climbing back down to a modest $800. When it comes to the cryptocurrency … [Read more...]
Did Dogecoin just kill its community or add fuel to a rapidly growing user base
In a digital currency market where most virtual currencies are deflationary, Dogecoin, the Shiba-based cryptocurrency, is acting like the Federal Reserve System and will allow circulation to grow by five billion each year. Jackson Palmer, the creator of Dogecoin, confirmed that the … [Read more...]
Bitcoin developer Gavin Andresenm says government consumer protection legislation could be useful
A lot of libertarians and technology enthusiasts upset over the government have turned to Bitcoin (BTC) over the past couple of years. The virtual currency was seen as a way to use money without the Federal Reserve and other central banks and financial institutions. Essentially, it … [Read more...]
Poll: 76% of Americans never heard of bitcoin, 79% would never own one
With the mainstream media covering Bitcoin (BTC) on a regular basis and more and more merchants, both in-store and online, accepting the digital currency, it’s a surprise that a strong majority of Americans are still unaware of the cryptocurrency. Even if they did, though, they … [Read more...]
Bitcoin, “first thing like the Internet since the Internet”
Technology experts and cryptocurrency enthusiasts say the digital currency industry is the “first thing like the Internet since the Internet.” The growing popularity of Bitcoin (BTC) and the widespread adoption of the virtual currency will create specialized parallel processors in … [Read more...]
Brick and mortar retailers installing real-time bitcoin price tags (BitTag)
Bitcoins aren't just for online retailers. The digital currency is making its way to bricks and mortar locations across the globe. Merchants are implementing Bitcoin (BTC) payment systems in order to avoid the excessive fees charged for debit and credit card usage. One of the primary … [Read more...]
Overstock then Newegg – now two girls from San Francisco accept bitcoin
Back in the day, children all across the United States would set up lemonade, cookie and other types of stands in order to raise funds for a school project, a charity or just some extra spending cash. Usually kids would get earn around five to 10 cents – that is if the government … [Read more...]
London ministers discussing the possibility of taxing (VAT) bitcoin trades
Several federal governments and central banks have declared bitcoin to be a commodity and would be subjected to a capital gains tax. In the United Kingdom, however, ministers are mulling over implementing a value-added tax (VAT) on trades of Bitcoin (BTC). It was learned Tuesday … [Read more...]
Texas outsources toll collecting to payday loan service ACE Cash Express
At a time when payday lending has dominated the headlines for the Texas gubernatorial race, a new report came out that found the Camino Real Regional Mobility Authority (CRRMA) will be working with ACE Cash Express to collect tolls for the new César Chávez Border Highway toll road … [Read more...]
Coffee to coin? New service turns your Starbucks card into Bitcoins
Bitcoins have dominated the business news headlines because of the large number of merchants accepting Bitcoin (BTC) for electronic, home and luxury vehicle purchases. A new website now allows Starbucks voucher holders to exchange them for bitcoins – though the coffee giant is not … [Read more...]
Australia goes Bitcoin – 100 bitcoin ATMs headed down under
Over the past month, we have reported that some nations would be getting Bitcoin (BTC) ATMs, otherwise known as BTMs. New York, Vancouver, Hong Kong and others have installed these machines or on the verge of doing so. Australia plans to outdo them all. According to local news and … [Read more...]
Dogecoin Value on the Rise: Much Coin – Such Profit – So Wow
Everyone may be talking about bitcoin and litecoin, two of the most valuable digital currencies in the cryptocurrency industry, but one new virtual currency, which is based on an Internet meme, is gaining traction. Dogecoin, established seven weeks ago, is now the fifth most … [Read more...]
Estonia Central Bank Warns Bitcoin Could Act as a Ponzi Scheme
The central bank of Estonia stated this week that it believes Bitcoin (BTC) could act more like a Ponzi scheme than a virtual currency or an electronic payment system. This has led the Estonian central bank to urge consumers to completely avoid the digital currency altogether because … [Read more...]
Visa CEO Dismisses Bitcoin, Supports Traditional Payment Systems
To professional bitcoiners, the digital currency can be utilized as both a currency and an electronic payment system. Although finance experts and technology entrepreneurs in Silicon Valley aren't very interested in virtual currency, they do see it as a fierce payment technology … [Read more...]
Jamie Dimon doesn’t understand bitcoin: Patrick Murck, Bitcoin Foundation Lawyer
Last week, Jamie Dimon, CEO of JPMorgan, spoke with CNBC and made a statement that would anger thousands of bitcoiners around the world: bitcoin (BTC) is “a terrible store of value” and that its classification as a currency will eventually come to an end. One of the most powerful … [Read more...]
DriveSavers Data Recovery Successfully Recovers Lost Bitcoins
We reported in the past of a new company that has established an insurance model for bitcoins. It is believed that if you lose your bitcoins (BTC) then you cannot retrieve them again and that money is lost forever. In a press release Wednesday, DriveSavers Data Recovery announced … [Read more...]
