China Bitcoin Crackdown Leads To Exchange Shutdown

BTC38, one of China’s biggest bitcoin exchanges, informed its users that 3rd party payment processors would be suspended. The news came following a major crackdown by the People’s Bank of China. China’s major financial institution has previously come out strongly…

IRS: Bitcoins Are Property And Absolutely Taxable

Good news and bad news has just come down the pipe courtesy of the IRS. The good news? Bitcoins have received a huge boost in terms of U.S. government recognition. The bad news? If you were hoping to invest in…

IRS: Bitcoin is Property, Not Legal Tender

Despite the wild swings in the virtual currency markets and the recent scandal involving the Mt. Gox exchange’s loss of $400M, Bitcoin continues to hold some value online. As the most popular virtual currency, Bitcoin is becoming increasingly popular with…

Bitcoin Creator Possibly Found. Anyone Care?

If anyone was anticipating a major furor over the creator of Bitcoins being discovered, they’re no doubt disappointed. As of now a Japanese American known by the alias Satoshi Nakamoto is thought to be the creator of the digital currency.…

Bitcoin Exchange Mt. Gox At Heart Of Criminal Probe

Mt. Gox, the Bitcoin exchange that went dark following a major theft, is now at the heart of a criminal probe. Both Manhattan U.S. Attorney Preet Bharara and the Federal Bureau of Investigation are gathering information to determine what led…

Bitcoin Heists Test Currency’s Legitimacy

In startling news Tuesday morning, one of the world’s largest bitcoin exchanges, Mt. Gox, ceased existing, leaving millions of dollars worth of bitcoins unaccounted for. The Tokyo-based exchange company has stated that a security leak that has been present since…

Bitcoin Exchange Giant Vanishes; Is the End Near?

Bitcoin trader Kolin Burgress is not happy with Mt. Gox. The London-native hopped a plane and headed all the way to Tokyo, Japan to let the Bitcoin exchange giant know how he felt about losing $320,000 worth of the currency.…

Bitcoin Crash: Beginning Of The End?

Even when the value of the bitcoin was going up, soaring to ridiculous heights, there were whispers of doubt. “It’s the 90’s ‘dot.com’ bubble all over again”. Despite the skepticism, speculators looking to get rich quick ignored the warnings, vying…

Bitcoin Value Continues to Puzzle Economists

2013 will be a year remembered for many important reasons, with perhaps the most interesting being the rise of the digital currency, the bitcoin. Bitcoins have been in existence for 4 years now, and over those four years the value…

China Bans Banks From Accepting Bitcoins

For some time now, the digital currency known as “bitcoins” has been ballooning in value thanks to a lot of speculation and the promise that the money will be finite. Currency 101 dictates that the more of something there is,…