Scotch Branwell

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As Bitcoin's dollar exchange volume slips, the virtual currency's value continues to fall

The price of Bitcoin is slipping, corresponding to a decline in its exchange volume to dollars, and a decidedly negative operating margin for those working to ‘mine’ the currency. Currently, Bitcoin trades for roughly $73.<p>The dizzying assent of Bitcoin was followed by a predictable fall. What would …

The People Making Real Money On Bitcoin

Last week, Tyler and Cameron Winklevoss announced<p>their campaign to get people to stop thinking of them as “the twins best known for their part in the history of Facebook”an SEC filing for the “Winklevoss Bitcoin Trust,” an exchange-traded fund that would allow institutional investors to dabble in …

Inside the Race to Build the World's Fastest Bitcoin Miner

There's more than one way to make money from the Bitcoin craze, which has seen the value of the digital currency increase more than six-fold over the …

Bitcoin Transactions Rise As Economic Unrest Hits Argentina

Bitcoin has created an interesting solution for problematic economies. Because it allows seamless extraction of wealth out of a bank account and into the cloud, Argentinians have been ramping up usage of the cryptocurrency in an effort to stem the effects of their worsening economy and their choice …

Bitcoin will prosper — until governments or banks decide to crush it overnight

Advertisement<p>42 Comments<p>Credit: Guardian/Guy Grandjean, James Ball<p>Every currency created since the advent of money 2,700 years ago has fit nicely …

Man charged for running $4.5 million Bitcoin Ponzi scheme

Some promises are too good to be true. The Securities and Exchange Commission has charged a Texas man with operating an illegal Ponzi scheme using the virtual currency Bitcoin in place of dollars. Trendon T. Shavers took in 700,000 Bitcoins from investors, the SEC alleges, through his unregistered …

Someone just sold a Bitcoin business for $11.4M! It’s a first, but the buyer’s anonymous

Advertisement<p>3 Comments<p>Credit: Guardian/Guy Grandjean, James Ball<p>Erik Voorhees, the Panama-based Bitcoin entrepreneur, has sold one of his ventures …

Bitcoins banned in Thailand

Thailand has become the first country to ban bitcoins after the central bank ruled it is not a currency.<p>In a <b>statement on its website</b>, Bitcoin Company Limited said it had given a presentation to the Bank of Thailand about how the currency works in a bid to operate in the country.<p>However, at the end …

Bitcoin

Bitcoin suitcase eats your pocket change, spits out digital currency

Unless you're one of its many evangelists, you probably still don't own any Bitcoins, the math-based digital currency that's all the rage among hackers, free market libertarians, and crypto-anarchists alike. A group of tinkerers at the Def Con hacking conference in Las Vegas is trying to fix that …

Bitcoin: Tax Evasion Currency

In IRS Takes A Bite Out Of Bitcoin, I said that Bitcoin doesn’t obviate taxes. Dissenters argued that the anonymity of the upstart digital currency is all that matters. Perhaps they can evade taxes and the IRS won’t catch them.<p>But that doesn’t mean there’s no income. Start with how you classify …

Coinlab, The Bitcoin Incubator, Announces First Funded Company, Alydian

Most incubators aren’t known for their efforts to attack niche markets – except Coinlab. The company, which describes its goal as “building Bitcoin businesses” – has chosen a very unique spot for their incubative activities and is focusing primarily on Bitcoin and Bitcoin related companies.<p>Because …

Federal Judge Rules Bitcoin Is Real Money

Trendon Shavers is accused of being the Bernie Madoff of Bitcoin. The SEC is going after him for allegedly running a Bitcoin Ponzi scheme from 2011 to 2012. Through his Texas-based “Bitcoin Savings & Trust,” he, under the name “pirateat40,” took in 700,000 Bitcoin — worth $4.5 million at the time — …

Bitcoin Businesses Welcome Judge's Ruling On Their Currency, But Others See Doom

The ruling allows the SEC to go forward with its prosecution.<p>Bitcoin firms are welcoming the ruling. Alan Silbert, the CEO of luxury goods site BitPremier, told us by email that the opinion signaled nothing more than growing pains.<p>"It's just part of the process of the Fed and State governments …

Bitcoin Ticker Available On Bloomberg Terminal For Employees

Bitcoin is now officially mainstream. According to BTC Geek, Bloomberg terminal users can now look up Bitcoin’s pricing history. Data comes from ubiquitous Bitcoin exchange service Mt. Gox as well as Tradehill.<p>For now, only Bloomberg employees can access the ticker. But the feature should make its …

Bitcoin for Android hit by bug

Android’s Bitcoin apps have been targeted by a random number generation bug, which steals the internet currency from users’ wallets.<p>Bitcoin said in a statement on Sunday that the component of Android responsible for generating secure random numbers “contains critical weaknesses, that render all …

Bitcoin companies subpoenaed as New York financial regulators dig for answers

New York financial regulators are asking the Bitcoin industry tough questions as they mull new guidelines to try and rein in virtual currencies. The <i>Wall Street Journal</i> reports that the New York Department of Financial Services has issued subpoenas to roughly two dozen companies connected to …

Bitcoin developers say critical Android flaw leaves digital wallets vulnerable to theft

In a blog post the developers of Bitcoin have announced the discovery of a critical weakness in Android that leaves Bitcoin wallets subject to theft. The vulnerability affects every Bitcoin wallet app for Android, including popular options like Bitcoin Wallet, blockchain.info wallet, BitcoinSpinner …

Winklevoss-Backed Company Issued Subpoena In Bitcoin Inquiry

A top New York banking regulator has subpoenaed a company backed by Cameron and Tyler Winklevoss -- the two brothers who once claimed Mark Zuckerberg stole their idea to create Facebook -- as part of a larger look into the controversial Bitcoin industry, the Wall Street Journal reported Sunday.<p>All …

Every Important Person In Bitcoin Just Got Subpoenaed By New York's Financial Regulator

Things are getting serious for Bitcoin this month: a federal judge declared it real money, Bloomberg gave it an experimental ticker (XBT), and New York’s financial regulator announced an interest in regulating it. Declaring Bitcoin “a virtual Wild West for narcotraffickers and other criminals,” the …

Amazon Coins Increase Developer Revenues

Three months after Amazon launched Amazon Coins in the US, the e-commerce giant has revealed some interesting numbers around the virtual currency.<p>It says that more than 100 million virtual coins were spent on content and in-app purchases in the last two weeks of May alone, which of course …

Bitcoin gets real as regulator subpoenas top players

Things are getting serious for Bitcoin this month: a federal judge declared it real money, Bloomberg gave it an experimental ticker (XBT), and New York's financial regulator announced an interest in regulating it. Declaring Bitcoin "a virtual Wild West for narcotraffickers and other criminals," the …

NY Regulator Has Launched An Inquiry Into Bitcoin Companies [Statement]

Here's the full text:<p>New York has a long history of promoting technological innovation - both within the financial sector and across our economy.<p>As innovative products emerge, it is critical to take steps that allow new technologies and industries to flourish, while also working to ensure that …

8 Questions for a Bitcoin Millionaire | Inc.com

It's been described as both "an online form of money laundering" and a brilliant "anarchist's brainchild." The developer who goes by the pseudonym Satoshi Nakamoto called Bitcoin simply a peer-to-peer electronic cash system back in 2008.<p>However you think of it, one thing is clear: Bitcoin is one of …

Bitcoin

Can Bitcoin enable the fabled micropayments revolution? Coinbase thinks it’s worth a shot

Advertisement<p>3 Comments<p>In the development of new business models for mobile and online commerce, some see micropayments as a crucial element that …

Google confirms Android flaw that led to Bitcoin theft

While the tech giant explains the cause of the vulnerability that left Bitcoin digital wallets susceptible, Symantec researchers warn that hundreds of thousands of apps are at risk of similar attacks.<p>Google has confirmed a flaw in Android's operating system, which could make Bitcoin digital wallets …

Information Security

Bitcoin fuels Africa's banking revolution

Bitcoin has landed in Kenya. The online currency that was, until recently, the preserve of tech entrepreneurs and only the most pioneering …

Africa