After the collapse of one of the biggest bitcoin exchange platforms in the world, Mt. Gox, the question has been asked: can it be salvaged? Well, a group of investors is looking to acquire the bitcoin exchange for one bitcoin, which is worth roughly $400. The Wall Street Journal … [Read more...]
Is the U.S. Justice Department on the verge of dropping the hammer on bitcoin
Numerous Washington officials have repeatedly warned that bitcoin could be utilized for illicit transactions, criminal activities and terrorism financing. Some of these individuals can be found at the Internal Revenue Service, the Treasury Department and now the United States … [Read more...]
National Australian Bank closing bitcoin accounts in May
It appears that Australian business account holders will have to take their business elsewhere. Local clients have published letters received by the National Australian Bank (NAB) in which it warns that it’ll be shutting down accounts associated with bitcoin. CoinDesk was the … [Read more...]
Study finds young libertarians are pro bitcoin
Who are the most avid supporters of the peer-to-peer decentralized currency bitcoin? Well, millennials, Independents, libertarians and tech-savvy individuals are the most in favor of the digital currency being allowed to function without government intervention. Reason Magazine … [Read more...]
Newest bitcoin Cryptex Card could be the start of a payment revolution
The latest technological innovation in the world of bitcoin could propel the digital currency to new heights, and a greater enemy in major financial institutions and electronic payment system providers. Cryptex is the very first global bitcoin-to-cash ATM-debit card that allows … [Read more...]
Brazil mimics IRS by declaring bitcoin as capital gains taxable
The Brazilian government has confirmed that it will be treating bitcoin as a security and prompt investors to file it on their tax forms as capital gains. Therefore, Brazil would not be classifying bitcoin as a legitimate currency, according to Claudemir Malaquias, the Chief of Tax … [Read more...]
Federal Reserve official warns bitcoin threatens central banks – and that’s a good thing
Last week, David Andolfatto, St. Louis Federal Reserve Vice President and Director of Research, published an in-depth presentation on the peer-to-peer decentralized currency bitcoin. This is the first time that such a high level central banking official has studied the cryptocurrency … [Read more...]
Bitcoin is much more than a bubble according to Xapo CEO
Bitcoin to as much as $1 million? Perhaps. In the past several months, there have been many predictions as to where the digital currency is headed to in the next few years. Some say it could be worth tens of thousands of dollars, while some are making the case for six figures – of … [Read more...]
Marc Faber: Bitcoin could be worthless if the system crashes
A lot of libertarians and contrarian investors who are staunch critics of bitcoin make a few points: bitcoin has no intrinsic value, no one can physically own a bitcoin and the government and major financial institutions will clamp down on the digital currency in the near … [Read more...]
Dutch bitcoin miner arrested for stealing electricity
It takes a lot of energy and computer power to mine for bitcoins. To circumvent this problem, one bitcoiner used another property’s electricity to allegedly power his computers and mine for the digital currency. The incident was reported on Dutch News and found that a 43-year-old … [Read more...]
Congresswoman Nydia M. Velazquez supports bitcoin during small business hearing
A substantial number of Washington lawmakers have still refrained from entering the bitcoin debate. One politician wanted to impose a ban on the cryptocurrency, while another legislator came out in favor of the digital currency. During the United States House Committee on Small … [Read more...]
April Fools’ Day pranks that targeted bitcoin
Did you hear about LEGO offering delivery service via a turtle? How about Honda releasing a do-it-yourself vehicle? Sony Electronics will be releasing its newest line of "power food." You could look fashionable wearing Men’s Wearhouse’s "Ultra Skinny Tie." If you didn't know, these … [Read more...]
Bank of Montreal mulling bitcoin acceptance
We reported in February of how the Bank of Montreal was shutting down business accounts that had any affiliation with bitcoin. Two months later, the Canadian financial institution is now open to allowing bitcoin transactions if the digital currency becomes regulated. Speaking in an … [Read more...]
Kim Dotcom’s NZ Internet Party wants fiat-backed digital currency
It’s safe to say that a substantial number of bitcoiners support the concept of competing currencies. Whether it’s backed by a computer algorithm, precious metals or nothing at all, healthy competition in the world of currencies could benefit consumers more than hurt them. This is … [Read more...]
Wild price swings hurt bitcoin’s viability as a currency
Finance experts and economists have argued over the past year that bitcoin’s price swings and immense fluctuations have hurt its own chances of becoming a viable, dependable currency. This is something that economist Milton Friedman was concerned about during the 1970s when the topic … [Read more...]
UK bitcoin exchange ‘Bit121’ temporarily closes portal doors
Another bitcoin exchange bites the dust? It may be so, well temporarily anyway. Bit121, a United Kingdom-based bitcoin exchange platform, announced Monday that it would suspend trading and temporarily close as of Mar. 31. The website noted that the closure is not permanent, but it … [Read more...]
Austin based gun dealer and creator of the ‘Smart Rifle’ accepting bitcoin
Several mainstream media outlets, including NBC News, CBS News and Fox News, reported on an article in Ars Technica over the weekend of a gun dealer in the state of Texas that is allowing its customers to pay in bitcoin. TrackingPoint, the Austin-based creator of Smart Rifle, … [Read more...]
Reddit CEO: ‘Crazy libertarians’ giving bitcoin a bad name, NSA may support it
It appears if you’re a libertarian who wants an alternative to the United States dollar and oppose central banks then you’re "crazy," at least according to Yishan Wong, CEO of the popular social network Reddit. Posting comments on Quora on Thursday afternoon in regards to dogecoin, … [Read more...]
34% of Britons believe that bitcoin is the “currency of the future”
Law enforcement, governments and central banks have repeatedly purported that bitcoin is primarily used for illicit activities and criminal enterprises because the digital currency maintains anonymity. However, a new study coming out of the United Kingdom might contradict those … [Read more...]
Report: Mt. Gox’s explanation of losing thousands of bitcoins is doubtful
Late last month, Mt. Gox, one of the biggest bitcoin exchanges in the world, filed for bankruptcy and claimed that approximately 850,000 bitcoins, totaling a value of $450 million at the time, were lost and likely stolen. Last week, it confirmed that it discovered 200,000 bitcoins in … [Read more...]
