bitcoin

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Key Bitcoin Exchange Basically Vanishes

Document suggests Mt. Gox, now offline, experienced major theft

(Newser) - Things have gone from bad to abysmal at Mt. Gox, long the largest and most popular Bitcoin exchange: Its CEO on Sunday resigned from the board of the Bitcoin Foundation; a day later the exchange deleted all of its tweets and went offline, displaying only a blank page, as an...

US Gets First Bitcoin ATM
 US Gets First Bitcoin ATM 
Feb 20, 2014 3:45 PM CST

US Gets First Bitcoin ATM

Machine in Austin will exchange the currency for cash

(Newser) - In Austin today, organizers were set to launch the country's first Bitcoin ATM. Similar machines in Boston and Albuquerque allow cash to be exchanged for Bitcoins—but this one also allows the digital currency to be exchanged for cash (although withdrawing cash can take as long as 10 minutes,...

Bitcoin World Rattled by Exchange Glitch

Mt. Gox has suspended withdrawals since Friday

(Newser) - Bitcoin's value was reeling yesterday amid suspension of withdrawals at a key exchange called Mt. Gox. That marketplace reported "unusual activity," suggesting the problem could be due to "a bug in the Bitcoin software." Mt. Gox said yesterday it would continue to prevent withdrawals, a...

CEO of Bitcoin Exchange Arrested

Charlie Shrem charged with money laundering in connection with Silk Road

(Newser) - A high-profile arrest in the world of Bitcoin: BitInstant CEO Charlie Shrem, 24, has been arrested and charged with money laundering; the same goes for alleged co-conspirator and "underground Bitcoin exchanger" Robert Faiella (aka BTCKing). Authorities say the two schemed to sell more than $1 million of Bitcoin to...

Is the Dread Pirate Roberts Really Ross Ulbricht?

David Segal delves into the case of the alleged Silk Road mastermind

(Newser) - Oct. 1, 2013, brought the news that the FBI had taken down Silk Road, and with it the online drug marketplace's alleged mastermind, "Dread Pirate Roberts"—a man the FBI claims is actually Ross Ulbricht, an "ordinary nerd" who allegedly ordered hits to protect his operation....

Big Online Shopping First: Overstock.com to Take Bitcoin

Overstock.com gives digital currency a boost

(Newser) - Overstock.com has become the first major online retailer to accept Bitcoin, meaning users of the digital currency can now use it for one-stop shopping for everything from lawn chairs to laptops. Chief exec Patrick Byrne says he "believes in limited government, and the controversial currency "attracts me...

Krugman: Bitcoin Is Barbaric
 Krugman: 
 Bitcoin Is 
 Barbaric 
OPINION
Dec 23, 2013 12:48 PM CST

Krugman: Bitcoin Is Barbaric

We're 'digging our way back to the 17th century'

(Newser) - Economist John Maynard Keynes called gold the "barbarous relic"—and it has a lot in common with Bitcoin, writes Paul Krugman in the New York Times . Right now, both are being collected at high cost. In Papua New Guinea, the Porgera open-pit gold mine is a leading producer...

The FBI Has More Bitcoins Than the Winklevoss Twins

The US government's wallet is the biggest in the world

(Newser) - The biggest Bitcoin wallet in the world appears to belong to … the FBI? Yes, thanks to its takedown of Silk Road , the Bureau now holds a wallet with 144,000 Bitcoins, Wired reports, which as of this writing is worth somewhere around $100 million. While the Bitcoin market is...

Bitcoin Plummets in China Amid Ban

Central bank: It's not a real currency

(Newser) - On Monday, China's central bank told top Chinese payment-processing firms they could no longer deal in digital currencies; two days later, the country's top Bitcoin exchange, BTC China, has now had to stop taking deposits in China's currency, the renminbi. Now, the value of bitcoin in the...

Vegas Mansion Could Go for $8M—in Bitcoin

Plan adds 'some notoriety' to offer: developer

(Newser) - A casino owner-turned-commercial developer is asking $7.85 million to sell a Las Vegas home, and he's willing to accept the online currency bitcoin for the deal. Jack Sommer says he got the idea to seek bitcoin for his 25,000-square-foot mansion from two of his sons, who've...

Tesla Model S Sells —for 91.4 Bitcoins

Plus a police chief is now getting paid in the virtual currency

(Newser) - Bitcoin continues to inch toward the mainstream: First a university offered students the option of paying tuition in the digital currency ; now a Newport Beach Lamborghini dealer has opened its doors to Bitcoin business. This week it sold a pre-owned Tesla Model S for 91.4 Bitcoins, delivered via Bitpay...

Bitcoin Scammer May Have Stolen $100M

Users of underground bazaar are trying to track their money

(Newser) - At this point, it's one of the largest thefts in history—and one of the most convoluted. Some person, or group, apparently made off with 96,000 Bitcoins worth a staggering $100 million, reports the Verge . The Bitcoins came from users of the underground bazaar called Sheep Marketplace, one...

$7.5M Bitcoin Fortune Buried in Landfill

 $7.5M Bitcoin Fortune 
 Buried in Landfill 
in case you missed it
Dec 1, 2013 1:02 PM CST

$7.5M Bitcoin Fortune Buried in Landfill

James Howells accidentally tossed a crucial hard drive over the summer

(Newser) - Sitting beneath about four feet of garbage in an area of a Welsh landfill the size of a football field sits a fortune—in the form of a computer hard drive that James Howells threw out this summer while cleaning up his workspace. On it: the cryptographic "private key"...

Bitcoins Soar to Major Milestone

Digital currency crosses $1K-mark

(Newser) - Bitcoins reached a major milestone today, with a single coin now worth more than $1,000—which is pretty impressive, given that they started the month just a bit north of $200, the Washington Post points out. Bitcoin has soared to these heights in part thanks to praise from the...

Inside One Man's Attempt to Crowdfund Assassination

'Kuwabatake Sanjuro' thinks bitcoin site can wipe out all governments

(Newser) - Ben Bernanke has an almost $75,000 price on his head, placed there by anonymous malcontents online. He's the biggest—but far from the only—target on Assassination Market, a "dark web" site that lets users nominate targets and contribute money to the cause using theoretically untraceable bitcoins....

University: Pay Us in Bitcoin
 University: 
 Pay Us in Bitcoin 
Nov 22, 2013 11:04 AM CST

University: Pay Us in Bitcoin

Drums up interest with master of science degree in digital currency

(Newser) - First you could buy a condo with Bitcoin and now you can pay your tuition using the digital currency, too—if you attend Cyprus' University of Nicosia, that is. The school says it's the first university to offer fees payable in the currency feds are praising , and those with...

As Feds Sing Praises, Bitcoin Hits Record High

Senators told IRS plans to regulate virtual currency

(Newser) - Bitcoin had a good day yesterday—as did people holding the virtual currency. On some exchanges, it hit record prices of $800 or more after a Senate hearing that saw federal officials praise some of the benefits of digital money, the Wall Street Journal reports. The first-ever congressional hearing on...

Man Forgets $27 for 4 Years, Finds $886K
 Man's Forgotten 
 $27 Bitcoin Buy 
 Becomes $886K 
IN CASE YOU MISSED IT
Nov 3, 2013 5:45 PM CST

Man's Forgotten $27 Bitcoin Buy Becomes $886K

Researcher bought 5K Bitcoins on a whim in 2009

(Newser) - Completely forgetting about the $27 in Bitcoin he bought while researching the online currency is the best investment move Kristoffer Koch is ever likely to make. Four years after his 2009 research on encryption, media coverage of the currency earlier this year jogged the Norwegian's memory and he was...

Hey, Buddy, Wanna Buy Stock in a Football Player?

We're back in an era of crazy investments: Kevin Roose

(Newser) - Hang on to your wallets, folks, because "the age of bull---- investments is back," declares Kevin Roose at New York . The collapse of 2008 put a damper on things, but today the financial world is filled with crazy schemes and iffy start-ups designed to separate suckers from their...

Bug Is Swiping Android Users' Bitcoins

As New York probes virtual-currency firms' practices

(Newser) - Bitcoin users with Android gadgets, beware: A bug is targeting wallets like yours. The problem hinges on Android's random number generator, which, according to Bitcoin, "contains critical weaknesses that render all Android wallets generated to date vulnerable to theft." Bitcoin Wallet, blockchain.info, BitcoinSpinner, and Mycelium are...

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