Visa takes a swipe at Bitcoin January 30, 2014 The world's largest processor of credit card payments has taken a swipe at the insurgent cyptocurrency Bitcoin. Speaking on a conference call discussing quarterly results, Visa's chief executive officer Charles Scharf said that current payment networks were a safer option than Bitcoin: The established network rules we have, the understanding of how things operate, understanding [...]
Why the end of MtGox is great news for Bitcoin February 25, 2014 The death of Bitcoin’s most popular exchange couldn’t have come sooner. MtGox is reported to have lost up to 744,408 Bitcoin – or around six per cent of all in circulation – as a result of problems with its own software. That’s according to a currently unverified document, allegedly a leak from MtGox itself, after [...]
Why the end of MtGox is great news for Bitcoin February 25, 2014 The death of Bitcoin's most popular exchange couldn't have come sooner. MtGox is reported to have lost up to 744,408 Bitcoin – or around six per cent of all in circulation – as a result of problems with its own software. That's according to a currently unverified document, allegedly a leak from MtGox itself, after [...]
MtGox shuts down in fresh blow for Bitcoin February 25, 2014 MtGox, one of the world's largest Bitcoin exchanges, has suspended trading and taken its website offline, as well as erasing the company's twitter account. This follows the resignation of the exchange's chief executive Mark Karpeles, on Sunday. The Financial Times reports that a document circulated online says the exchange has lost a staggering 744,000 Bitcoins [...]
Video: Betfair founder says Bitcoin adoption is “inevitable” February 25, 2014 Ed Wray knows a fair bit about the internet. Having worked at JP Morgan for eight years he co-founded of Betfair in 1999, where he served as chairman until March 2012. He went on to become a non-executive director at crowdfunding site Funding Circle and to invest in taxi app Kabee. We caught [...]
Here’s what the Bank of England has to say on Bitcoin, Litecoin, and Ripple March 12, 2014 In a new primer on the nature of money, the UK’s central bank has waded into the world of sterling-alternatives. Seeing “a wave of innovation” in the recent past, the Bank says in “Money in the modern economy” that alternative currencies are not widely accepted as a medium of exchange. Or at least, not as [...]
Here’s what the Bank of England has to say on Bitcoin, Litecoin, and Ripple March 12, 2014 In a new primer on the nature of money, the UK's central bank has waded into the world of sterling-alternatives. Seeing "a wave of innovation" in the recent past, the Bank says in "Money in the modern economy" that alternative currencies are not widely accepted as a medium of exchange. Or at least, not as [...]
Bitcoin exchange pair charged January 27, 2014 Two men who operate Bitcoin exchange businesses have been charged with money laundering for helping drug merchants exchange $1m (£603,000) in cash for bitcoins, the digital currency, US prosecutors said yesterday. Prosecutors in New York announced charges against Charlie Shrem and Robert Faiella for attempting to sell $1m in the digital currency to users of [...]
The Bitcoin bug threatening the web’s favourite cryptocurrency February 10, 2014 Top Bitcoin exchange MtGox has released an update on the issue that saw Bitcoin prices crash last week. MtGox have discovered a critical flaw with Bitcoin, that every exchange is now having to deal with. That fault threatens the functioning of the digital currency. The problem is known as “transaction malleability”. Here’s their non-technical explanation: [...]
Bitcoin problems blamed on Mt Gox failings February 10, 2014 Suggestions that cryptocurrency Bitcoin is flawed have been denied by the Bitcoin Foundation. The foundation claims that the bug Mt Gox has identified – known as "transaction malleability" – has been known about since 2011. In simplest of terms, it is a small window where transaction ID’s can be “renamed” before being confirmed in the [...]