After contributing thousands of lines of code and hundreds of posts on Bitcoin, Nakamoto sent a note to a developer in April 2011 saying that he had "moved on to other things." Later that year, the New Yorker and others tried to unravel the mystery, but came away empty-handed. … Read more
SAN JOSE -- The Winklevoss twins, who transformed a lucrative Facebook payout into a venture capital fund, say it's now time for Bitcoin companies to work with governments rather than against them.
Cameron and Tyler Winklevoss, the twin Harvard graduates famously portrayed in the 2010 film "The Social Network," showed up at the Bitcoin 2013 conference to talk up the future of what is the Internet's favorite alternative currency -- as long as it escapes a government crackdown.
"I don't think anyone wants a fight -- I think everyone here wants to build Bitcoin, … Read more
The U.S. Department of Homeland Security confirmed it has initiated legal action that prompted the Dwolla payment service to stop processing bitcoin transactions.
Nicole Navas, a representative for U.S. Immigration and Customs Enforcement, confirmed the legal action to CNET this afternoon.
Dwolla, a Des Moines, Iowa-based startup, which raised $16.5 million in funding two weeks ago, notified users about the move earlier Tuesday. It blamed the decision on "recent court orders" limiting its ability to send money through Mt. Gox, the largest bitcoin exchange.
"In order not to compromise this ongoing investigation being conducted … Read more
A Bitcoin exchange partnership designed to smooth the trading process and show the security of the virtual currency has apparently collapsed with a lawsuit.
After struggling to crack the U.S. market, Mt. Gox, the world's largest Bitcoin exchange, announced in February that it had reached an arrangement with CoinLab in which the Seattle-based startup would manage the Bitcoin exchange's operations in the U.S. and Canada. Along with the support of Silicon Valley Bank and $500,000 in VC funding, it was hoped that the arrangement would help increase customer confidence in the decentralized digital currency.
However, … Read more
The interesting thing about Bitcoin isn't what it is today. What's interesting is that this experiment is turning into a serious proving ground for the idea of "crypto-currency," digitally created currency protected by powerful cryptography.
Crypto-currency is traceable, more portable than paper money, and harder to steal. If the Bitcoin experiment proves successful, how soon will a government or other regime develop, back, and distribute crypto-currency as a true alternative currency?
My money, paper or virtual, says that day is coming.
A particularly evolved regime could officially back a crypto-currency, issue some basic standards and regulations … Read more
Leaked from today's 404 episode:
- Check out the new Web site for Jill Schlesinger, CBS News senior business analyst!
- Bitcoin bubble burst? Currency suffers dramatic correction.
- Bitcoin drops another 35 percent as exchange reopens.
The recent Bitcoin rollercoaster ride has come to an end for one exchange.
Bitcoin exchange BitFloor announced Wednesday it is closing its trading operations and plans to return its remaining funds to its users.
The New York-based exchange, which specialized in trades of the digital peer-to-peer currency, announced the closure with a note on its home page penned by its founder, Roman Shtylman:
I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely. Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the … Read more
Update at 6:15 a.m. PT Friday: Bitcoin's tumble continued after trading resumed. As of now, the digital currency is trading at $69.
Less than two hours after the resumption of Bitcoin trades following a lengthy suspension, currency exchange Mt. Gox is offline, the apparent victim of a distributed-denial-of-service attack.
"We are experiencing a stronger than usual DDoS," the Tokyo-based exchange said tonight in a Google+ post. "We are working in it."
Bitcoin's wild ride continued this evening, immediately carving 35 percent off the value of the digital currency as Mt. Gox, the world's largest Bitcoin exchange, resumed trading after an extended suspension of operations.
The value of the peer-to-peer currency began trading at $78 a Bitcoin against the U.S. dollar, falling as low as $65 before recovering to trade as high as $135. The plunge followed yesterday's rollercoaster trading day, which saw Bitcoin's valuation drop 61 percent before recovering a bit with a 37 percent loss.
The decentralized digital currency, which had quadrupled in value in … Read more
As I understand it, Bitcoin is the currency we will all use to buy gruel and grits when the current financial world's gills turn green.
It seems to be based on the idea of one person trusting another, which is an idea that has caused more wars, divorces, tears, and surgeries than any other.
Recently, Bitcoin endured something of a correction in value. This has not stopped those who have ideas ahead of their time, and even above their station, to invest.