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,…

This Anarchist Wants To Use Bitcoin to Crowdfund Assassins

Forbes author Andy Greenberg wrote today about an encrypted email he received from a person who called themselves Kuwabatake Sanjuro. Sanjuro claimed to have designed a Deepweb site called the Assassination Market, which apparently has the capability to “crowdfund” political…

“Silk Road” Underground Site Shut Down by FBI

The FBI has officially shut down the underground site “Silk Road.” Operating since January 2011, the site gave drug dealers a platform to sell heroin, cocaine, LSD, methamphetamine, among other drugs and illicit goods. The site allowed people to anonymously…

Still Wondering If You Should Use Bitcoin? Read This.

Bitcoin is getting a lot of attention in the news this week with the value of a single Bitcoin surpassing $100, and the currency’s total value topping $1 billion. Naturally, a lot of questions are being asked. Questions like: What…

Bitcoin Theft Drains $92,000 from Bitcoinica

A Bitcoin exchange service was victim of a security breach over the weekend in a heist that yielded 18,547 BTC to unknown hackers. A post on Bitcoinica’s official blog detailed that its servers were compromised and, following the complete draining…

Bitcoins Are on FBI’s Radar According to Leaked Report

Wired has obtained a new report from the FBI that details the agency’s growing concern that Bitcoins will become an attractive currency for those looking to dabble in some illicit activities without (hopefully) getting caught. I won’t go into the…

Bitcoins & The Future Of Online Currency

Bitcoins are not mere drug currency. Bitcoins are not failing. Okay? Are we clear about that? Good. The future of online commerce looks to rely less and less on the physical amount of money you have in your bank accounts…