Bitcoin
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The dramatic fall of BitCoin: No end in sight
We’ve discussed BitCoin at some length on Memeburn, including how it works , its potential downfalls , and its genuine merits . BitCoin has experienced its ups and downs in the few years that it has emerged as an online currency.
In the recent controversy surrounding Mt. Gox and the major security breach they (and the entire Bitcoin community) experienced, the Bitcoin community seems to be in civil dispute about what should happen to the 643 BTC that Kevin Day acquired at a ludicrous rate of 0.0101 USD on Sunday, night of the Bitcoin hackcrash. Community members seem to be trying to burn Kevin at the stake, questioning his actions and morals, some even claiming him to actually be the Mt. Gox perpetrator. In order to clear his name, Kevin Day (Bitcoin Forum Username: toasty) has put the bounty of Bitcoin in escrow at ClearCoin to be donated to the Bitcoin Faucet after thirty days if the whole sticky mess surrounding the scandal at Mt. Gox does not find resolution.
Bitcoin News Network: Kevin Day Makes Show Of Good Faith
Virtual currency: Bits and bob
MILTON FRIEDMAN famously called for the abolition of the Federal Reserve, which he thought ought to be replaced by an automated system which would increase the money supply at a steady, predetermined rate. This, he argued, would put a lid on inflation, setting spending and investment decisions on a surer footing. Now, Friedman's dream has finally been realised—albeit not by a real-world central bank. Bitcoin, the world's "first decentralised digital currency" , was devised in 2009 by programmer Satoshi Nakomoto (thought not to be his—or her—real name).
Much like the New York Stock Exchange, Bitcoin exchanges have suffered from their first massive loss -- a virtual "Black Friday", so to speak. (Source: Google Images) Some say Bitcoins could make buying illegal drugs easier. However, in reality Bitcoins are far from "untraceable".
Digital Black Friday: First Bitcoin "Depression" Hits
Friday, August 5th, 2011 From the desk of Tom Williams, operator of MyBitcoin.com For immediate release.
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The following is a list of online and real world businesses that currently accept Bitcoin. If you are looking for only real world commerce, see here New service providers are very much appreciated as they help establish the currency! Please only list services that are presently available (that is, NOT "available soon") and accepting bitcoins. Note: it still remains up to you to decide whether you trust the service provider or not. Products or services illegal in US or Japan are not fit to be listed here - such links will be removed immediately.
