Farhan Yusuf

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China and bitcoin are going steady, but does Beijing approve?

The mutual love affair between China and bitcoin shows no signs of losing steam. Today two related venture capital firms invested $5 million in BTC China, the digital currency’s biggest trading platform, and the value of bitcoins surged to an all-time high, due in part to Chinese demand. But how …

Cryptocurrency

Virtual currency can get you a real Subway sandwich in Pennsylvania

Bitcoin may be a virtual currency, but it's real enough to get you a big sandwich at one Subway location.<p>A shop in Allentown, Pa., has made history of sorts by becoming one of only two Subways in the world — the other is in Moscow — to accept bitcoin for payment. Bitcoin is a digital currency …

Bitcoin Prices Are Going Insane

This morning, the bizarre digital currency known as Bitcoin hit another all-time high, ticking $402 on the Mt. Gox exchange.<p>It hasn't stopped.<p>Now it's at $429.9, $55 or 15% more than its price just 24 hours ago.<p>On Tuesday, the Winklevoss brothers, who are Bitcoin bulls, gave a pep talk about it …

Meet The Silk Road Employee That The Dread Pirate Roberts Allegedly Tried To Murder

The alleged murder target of a secretive online drug kingpin was a 47-year-old semi-pro poker player and self-proclaimed former heroin addict who was caught with $27,000 worth of cocaine.<p>On Thursday, court documents filed in a Maryland district court revealed that Curtis Clark Green confessed to …

Blockchain Smashers

Electricity in Jakarta, Indonesia costs three cents per kilowatt hour. That’s 30 cents less than power in the US and Europe. This means, all things being equal and provided you don’t mind your apartment heating up alarmingly, you can make a decent living mining for Bitcoin and Litecoin (another …

Bitcoin Crashes Nearly 25%

The Great Bitcoin Bank Robbery

A young, anonymous Bitcoin banker in Australia reported the theft of over a million American dollars in the virtual currency. He is not taking the problem to the police.<p>A peer-to-peer currency not backed by any government, Bitcoins are in many ways more similar to cash than to the more common …

Bank Robbery

18-Year-Old Reports $1 Million Bitcoin Theft From 'Bank' He Controlled — And Says He Can't Call The Cops

The man ran a Bitcoin bank called Tradefortress.<p>Bitcoin transactions cannot be reversed if the receiving party doesn't agree to the refund. ABC noted:<p>The bitcoin transaction trail is designed to be anonymous, which has led to speculation this was an inside job and that TradeFortress took the coins …

Bitcoin Could Go To $1 Million

This is not surprising.<p>Earlier this spring, when Bitcoin was in the middle of its last price spike, I "raised my Bitcoin target" to $400.<p>This was an inside joke — I don't have a Bitcoin target. But I was getting at a more profound point. $400 is a perfectly reasonable target for Bitcoin. As is …

Bitcoin Is Having Another Preposterously Huge Day