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: [...]
Bitcoins are more like “glass beads” than money says Danish central bank March 18, 2014 Denmark's central bank has released a publication stating that "unlike precious metals such as gold and silver, Bitcoins have no actual utility value". And on that basis, the organisation says that they aren't really money at all, and instead bear "closer resemblance to glass beads." Of course, the physical value of gold is far removed [...]
MtGox’s Karpeles resigns from Bitcoin Foundation board February 24, 2014 Bitcoin exchange MtGox has resigned from its place on the Bitcoin Foundation board, according to a blog entry by Bitcoin Foundation executive director and board member Jon Matonis. The Bitcoin Foundation is a trade group with a mission to promote, standardise, and protect the popular cryptocurrency. Matonis says that the change is "effective immediately", and [...]
Apple sticks the boot into Bitcoin with Blockchain removal February 6, 2014 Apple has removed the last Bitcoin wallet from its iOS app stores. The tech giant offered no explanation for the removal of UK-based Blockchain other than it was due to an "unresolved issue." The application had been available on the iOS app store for over two years and was downloaded over 120,000 times. Blockchain responded [...]
The 3 best and worst places to hold Bitcoin February 4, 2014 The debate about how to deal with the virtual currency Bitcoin is still in its infancy, according to a report released by the Law Library of Congress. The report surveys 40 jurisdictions and the European Union on any regulations or statements from central banks and governments on the handling of Bitcoin. Of the countries surveyed [...]
Bitcoin exchange boss works to fix site as Japan probes closure February 26, 2014 THE BOSS of the biggest Bitcoin exchange resurfaced yesterday to reassure investors he is working to get the site back online, as Japanese regulators started to investigate the closure that left an estimated $375m (£225m) worth of bitcoins inaccessible. Mark Karpeles, head of the Mt Gox platform, said he was still in Japan and “working [...]
First Bitcoin shop opens its doors here in the City February 18, 2014 BITCOIN, Bitcoin, Bitcoin – not a day goes by when the pioneering cryptocurrency isn’t dominating headlines, but actually getting hold of the virtual coinage is still relatively difficult for most people (The Capitalist included). But that might be about to change. There’s now a Bitcoin shop (Europe’s first). And it’s in the City – [...]
CEO of disappearing Bitcoin exchange assures users he’s “still in Japan” February 26, 2014 After the highly popular Bitcoin exchange disappeared entirely yesterday, CEO Mark Karpeles has put an announcement on MtGox's site to "reassure everyone that I am still in Japan". Karpeles says that he is "working very hard with the support of different parties to find a solution to our recent issues." The Bitcoin exchange is alleged [...]
Largest Nordic bank goes bearish on Bitcoin January 28, 2014 In a fresh blow for Bitcoin the largest Nordic foreign currency trader SEB has rejected requests from customers to set up accounts to manage Bitcoin. The bank is concerned that software associated with the digital currency may be used to engage in illegal activities. Johan Andersson, chief risk officer at SEB, said in response to [...]
Yellen: Fed “does not have authority to supervise or regulate Bitcoin in any way” February 27, 2014 Fans of Bitcoin may be suffering from some mixed feelings. Many love the cryptocurrency as unlike fiat money, such as the US dollar, it has no central bank. But the world's most important central banker, Federal Reserve chair Janet Yellen, just gave the currency a great boost. During questions Yellen has just ruled out the [...]