Digital Currency News. Bitcoin Embassy Launches In Poland’s Capital Warsaw. A new bitcoin embassy was launched in Poland’s capital Warsaw on 12th May with the aim of promoting the digital currency in the country and fostering innovation.
Located on Krucza 46 street, right in the city centre, the embassy is a stone’s-throw from the Warsaw Stock Exchange and Poland’s central bank – two of the most powerful financial institutions in the Polish economy. Inside the newly furbished, contemporary office space stands bitcoin mining hardware. On one of the walls hangs a triple clock showing local time in three cities: Montreal, Tel Aviv and Warsaw.
TigerDirect Becomes the Latest Retail Giant to Pounce on Bitcoin. Another major online retailer has announced that it is now accepting bitcoin.
This time it’s TigerDirect. The company revealed the news on Thursday to much fanfare on its site, with an educational guide to bitcoin and incentives for GPU card shoppers to “Start Mining with AMD”. Digital currency biz Liberty Reserve shut down, founder arrested. Update: We’re looking for stories about how the shutdown of Liberty Reserve has affected your life.
Tell us your personal stories here. Digital currency Liberty Reserve has been shut down after U.S. and Costa Rican authorities arrested founder Arthur Budovsky Belanchuk in Spain. Central American newspaper The Tico Times reports that Budovsky was arrested Friday. Dark Wallet: A Radical Way to Bitcoin. Cody Wilson is a twenty-five-year-old former law student at the University of Texas at Austin.
He is also the inventor of the Liberator, a gun made almost entirely from plastic pieces created with a 3-D printer; he uploaded to the Internet a blueprint that anyone could use to print such a gun.
The biggest Bitcoin win in gambling history. In just one weekend of furious gambling, a single Internet high roller has taken home close to 11,000 bitcoins—or about $1.3 million.
The man, known online as Nakowa, has turned one of Bitcoin’s most popular and profitable casinos into a loser. What no one can figure out: Is he a cheater, a genius, or the luckiest man on earth? This is almost certainly the biggest gambling win in Bitcoin history and, as of early Monday morning, Nakowa is still betting high. Just-Dice.com, a European-based cybercasino offering a set of dice games played for the highly valuable digital currency Bitcoin, has been on a roller coaster ride. Africa's first Bitcoin wallet launches in Kenya. Africa's first Bitcoin transfer service has launched in Kenya, piggybacking on M-Pesa, the country's highly successful mobile banking platform.
The service, called Kipochi, will allow Kenyans to move money abroad while dodging the hefty transaction fees charged by companies like Western Union and MoneyGram. Kipochi -- which means purse in Swahili -- describes itself as a lightweight, easy-to-use Bitcoin wallet. Users only need an email address, phone number and passport or national identity number to sign up and can currently transfer up to one bitcoin a day using the service -- although this is expected to increase soon. Study: 45 percent of Bitcoin exchanges end up closing. A study of the Bitcoin exchange industry has found that 45 percent of exchanges fail, taking their users' money with them.
Those that survive are the ones that handle the most traffic -- but they are also the exchanges that suffer the greatest number of cyber attacks. Computer scientists Tyler Moore (from the Southern Methodist University, Dallas) and Nicolas Christin (of Carnegie Mellon University) found 40 exchanges on the web which offered a service of changing bitcoins into other fiat currencies or back again. Of those 40, 18 have gone out of business -- 13 closing without warning, and five closing after suffering security breaches that forced them to close. Four other exchanges have suffered serious attacks but remain open. Fred Wilson: Money Is Information, Like Bits, And We Want To Invest In Ways Of Moving It. Fred Wilson, legendary New York venture capitalist and partner at Union Square Ventures, is the latest VC to highlight his interest in startups that help move money, “an area that is still very much up for grabs,” in his opinion.
Bitcoin Crash APR 2013: Nearly halving its value in 6 hours! Crisi di Cipro, BitCoin diventa un bene rifugio. Www.foxbusiness.com/investing/2013/03/22/bitcoin-interest-explodes-as-cyprus-nearly-implodes/ As policymakers in Europe threaten the sanctity of bank deposits in crumbling Cyprus, the faceless operators of decentralized electronic currency Bitcoin must be smiling somewhere.
The currency, a favorite among those worried about the safety of traditional banking and paper currency, is emerging as an apparent winner from the drama surrounding the bailout of tiny Cyprus. Bitcoin “is clearly having a breakthrough moment here, and a deeply surprising one given its novelty and nascent infrastructure,” said Nicholas Colas, chief market strategist at ConvergEx, in a note on Friday. To be sure, Bitcoin is still a relatively new and small system that is subject to technical glitches and regulators are only now scrambling to keep up. Bitcoin developer: Bitcoin Volatility, regulation, open source, elusive Satoshi Nakamoto. With Bitcoin all the rage and startups popping up left and right, it's hard to know who's an expert in the virtual currency and who just has an opinion.
Most people would put Jeff Garzik in the former camp. A Bitcoin core developer for three years, he left his job at Red Hat on Friday to start work at Bitpay, the biggest Bitcoin payment processing service.
Bitcoin Fever: The World's Largest Online Currency: Video. Jittery Spaniards Seek Safety in Bitcoins. Since Sunday, a trio of Bitcoin apps have soared up Spain’s download charts, coinciding with news that cash-strapped Cyprus was planning to raid domestic savings accounts to pay off a $13 billion bailout tab. Fearing contagion on the other end of the Mediterranean, some Spaniards are apparently looking for cover in an experimental digital currency.
Pay Another Way: Bitcoin. At WordPress.com, our mission is making publishing democratic — accessible and easy for anyone, anywhere. And while anyone can start a free blog here, not everyone can access upgrades (like going ad-free or enabling custom design) because of limits on traditional payment networks. Today, that changes: you can now buy WordPress.com upgrades with bitcoins. PayPal alone blocks access from over 60 countries, and many credit card companies have similar restrictions. Some are blocked for political reasons, some because of higher fraud rates, and some for other financial reasons. US regulator: Bitcoin exchanges must comply with money-laundering laws. The federal agency charged with enforcing the nation's laws against money laundering has issued new guidelines suggesting that several parties in the Bitcoin economy qualify as Money Services Businesses under US law.
Money Services Businesses (MSBs) must register with the federal government, collect information about their customers, and take steps to combat money laundering by their customers. The new guidelines do not mention Bitcoin by name, but there's little doubt which "de-centralized virtual currency" the Financial Crimes Enforcement Network (FinCEN) had in mind when it drafted the new guidelines. A FinCEN spokesman told Bank Technology News last year that "we are aware of Bitcoin and other similar operations, and we are studying the mechanism behind Bitcoin. " America's anti-money-laundering laws require financial institutions to collect information on potentially suspicious transactions by their customers and report these to the federal government. In Spain, The Bitcoin Run Has Started. Dollar-Less Iranians Discover Virtual Currency. Under sanctions imposed by the U.S. and its allies, dollars are hard to come by in Iran.
The rial fell from 20,160 against the greenback on the street market in August to 36,500 rials to the dollar in October. It’s settled, for now, around 27,000. The central bank’s fixed official rate is 12,260. Yet there’s one currency in Iran that has kept its value and can be used to purchase goods from abroad: bitcoins, the online-only currency. Created in 2009 by a mysterious programmer named Satoshi Nakamoto, bitcoins behave a lot like any currency. What the WordPress Announcement Means for Bitcoin - Blog - Genesis Block - The BitInstant Blog. Bitcoin: more than just the currency of digital vice. Dale doesn't exactly look like an international crypto-criminal.
He's soft-spoken, baby-faced, and a senior at an Ivy League college. But every couple of weeks the political science major logs onto the Silk Road, an online black market that has been described as an "amazon.com of drugs" to buy wholesale quantities of "molly" (also known as MDMA, a particularly "pure" form of ecstasy), LSD and magic mushrooms. Some of these will be for his personal use, and the rest he'll flog to less tech-savvy classmates at a mark-up of up to 300%. Bitcoin’s Gains May Fuel Central Bank Concerns: Chart of the Day.
An increase in the value of bitcoin, the world’s largest online currency, may fuel concerns that virtual money could undermine the role of central banks. Custom Chips Could Be the Shovels in a Bitcoin Gold Rush as Enthusiasts Design ASICs to Mine the Cryptocurrency Faster. The digital “crypto-currency” Bitcoin surged into the public eye last year, tantalizing enthusiasts with the promise of money unfettered by any government before falling victim to digital heists (see “Crypto-currency Security under Scrutiny”) and short media attention spans.
Bitcoin reaches an all-time trading high of over $33. Mega update: Dotcom’s service now accepts Bitcoin. Bitcoin, the Darknet Economy, and the Low Over-Head Revolution. This article has unfortunately gone missing from the internet, only abstracts and snippets are readily available. C4SS has located the original full text for our readers. Wn322 - Fred's Business Model For Bitcoin Bank - BMFiddle. Namecoin.