Items tagged with bitcoin

Depending on where you live and shop, you can buy a taco with Bitcoin, a form of virtual currency. You can also buy computer systems and even a Lamborghini with Bitcoin. Despite various shady activities and scandals associated with untraceable crypto-currencies like Bitcoin, the list of things you can buy with it keeps it growing. Heck, you can even make donations to political committees. The U.S. Federal Election Committee (FEC) is allowing Bitcoin to be used to make donations to political action committees under certain conditions, Reuters reports. Following a unanimous vote, the FEC approved... Read more...
Security researchers at Trend Micro report finding a new Android malware family designed to mine crytocurrencies like Bitcoin, Litecoin, and Dogecoin. The malicious mining code is being repackaged in copies of popular apps like Football Manger Handheld and TuneIn Radio. To hide the code, malware writers modify the Google Mobile Ads portion of the app, allowing them to slip into Google Play. Once installed, the hidden code gets busy mining virtual currencies in the background. It detects when there's an Internet connection so that the CPU miner can connect to a dynamic domain, which then redirects... Read more...
A couple of months ago, iBUYPOWER got into the coin-mining craze by designing a PC series targeted squarely at it. Called Mine, the PCs feature only AMD Radeon graphics cards, since those currently give the best returns. In that post, I mentioned, "Given the incredible growth that cryptocurrencies have seen over the past year, I'm willing to bet that iBUYPOWER is going to be starting a trend of targeted machines here." - lo and behold, we have our second entrant: CyberPowerPC. As competitors often do, CyberPowerPC one-upped iBUYPOWER in the naming department; its coin-mining series is called Mega... Read more...
2014 is quickly shaping up to be a paramount year for Bitcoin, with this month in particular kicking-off with some non-stop action. At the start of the month, we learned that popular Bitcoin exchange Mt. Gox had declared bankruptcy, causing many to suddenly see their coins turn to nothingness. At that time, that was one of the biggest stories Bitcoin had ever seen, but this week, attention has turned to the currency's potential creator. In an upcoming issue of Newsweek, reporter Leah Goodman claims to have found the creator of Bitcoin, Dorian Satoshi Nakamoto, and despite his repeated claims since... Read more...
It's not as though crytocurrencies like Bitcoin are in need of any more bad publicity, though that being the case, it didn't stop MtGox from giving it to them. MtGox, formerly a popular Bitcoin exchange based in Tokyo, Japan, has filed for bankruptcy protection after admitting to having lost 850,000 Bitcoins worth approximately $477 million. Most, if not all of the virtual currency was stolen by hackers who took advantage of what MtGox called "weaknesses in the system." Some 750,000 of those Bitcoins belonged to customers, while the remaining 100,000 units were MtGox's prior to the theft. Image... Read more...
The wild and wonderful state of West Virginia isn't so wild about Bitcoin, Litecoin, and every other type of virtual currency that's hotter than a southern summer day. More specifically, West Virginia Senator Joe Manchin (Democrat) takes issue with crytpocurrencies and asked the U.S. to ban Bitcoin and any other virtual currency like it. Manchin made his disdain known for Bitcoin and other currencies like it in an open letter to U.S. regulators. In the letter, he points out that virtual currency is unregulated and has already allowed users to engage in illicit activity. Image Source: Flickr (btckeychain)... Read more...
The Bitcoin craze is about to get a whole lot crazier once Robocoin starts installing ATMs in the U.S. that support the virtual currency. Robocoin said it's planning to install Bitcoin ATMs in Seattle, Washington and Austin, Texas. These kiosks will function like ordinary ATMs except they'll have scanners than can read driver's licenses, passports, and other government-issued IDs to confirm a user's identity. Bitcoin ATMs will allow users to turn Bitcoin currency into cold, hard cash. Users will also be able to deposit cash to buy Bitcoins by transferring funds to or from a virtual wallet on their... Read more...
Bitcoin digital currency is somewhat controversial as many people are just completely confused by it, but that hasn’t stopped Bitcoin from being used around the world--nor has it protected the currency from cybercriminals. SecureMac detailed the discovery of a Trojan called OSX/CoinThief.A that specifically targets Apple computers running Mac OS X. “The malware, which comes disguised as an app to send and receive payments on Bitcoin Stealth Addresses, instead covertly monitors all web browsing traffic in order to steal login credentials for Bitcoin wallets,” reads the post. Image... Read more...
As more and more online retailers warm up to the idea of accepting Bitcoin currency, widespread acceptance is still a long way off. This is especially true of Russia, which just dropped the ban hammer on Bitcoins on the basis that it runs afoul of existing laws. Russia actually went one step further and called the digital currency "suspicious." The announcement was made by the General Prosecutor of the Russian Federation. Serving as justification for the ban is the fact that the Central Bank of Russia views Bitcoin as a money substitute, which is restricted under Russian law. Image Source: Flickr... Read more...
iBUYPOWER offers a handful of PC series that target different audiences, and with the world of cryptocurrency on fire, the company has now decided to target that audience as well. The biggest difference between iBUYPOWER's 'Mine' PCs and the others is that AMD's graphics cards come standard - something that won't strike those who already mine digital coin as a surprise. To help those wanting to get into mining that might not be too familiar with it, iBUYPOWER gives some performance figures to help the basic gauge of performance be better understood. A configuration with a single Radeon R9... Read more...
While the Chinese government wants nothing to do with Bitcoin, a Lamborghini dealership in Costa Mesa, California, has enough faith in the digital currency to begin accepting it as legal tender. That move would be impressive enough for a "regular" car dealer; for one that sells cars that average $200,000 USD, it's quite notable. The dealer, Lamborghini Newport Beach, hasn't only made it known that it's begun accepting Bitcoin, but it also confirms via a website post that it's already concluded its first sale. While no Lamborghini changed hands in this particular deal, a Tesla Model S Performance... Read more...
Bitcoin, the virtual currency that's exploding in popularity on the web, isn't finding many fans among Chinese government officials, Just the opposite, really. China's central bank issued a warning to financial institutions that trading Bitcoins is risky business, and not long after, the country's government put in place a ban on the Bitcoin trade. One of the problems with Bitcoin is that the currency is highly volatile. After skyrocking in value to over $1,000 per Bitcoin in recent weeks, the virtual currency dipped 20 percent following China's announcement, and some predict it could be cut in... Read more...
Without any formal government regulation, Bitcoin prices have been surging and falling, and surging and falling. It's a roller coaster ride that only the bold can stomach, but those who are willing to invest in something like a new digital currency already have some wild stories to tell. Earlier this month, a university in Cyprus announced that tuition could be paid in Bitcoins, and a number of online e-tailers are accepting the currency as well. A currency really only takes shape once it's accepted "everywhere," or close to everywhere. But here's something that few currencies can say: Bitcoins... Read more...
As crazy as this sounds, a single Bitcoin is worth almost as much as a single share of Apple. Bitcoin, a volatile virtual currency that's decentralized and uses cryptography to control transactions and prevent double-spending, has been steadily soaring for the past several months. It was viewed as a big deal when shares of Bitcoins went north of $300 earlier this month, and for the first time, it's now trading at a little over $500 (Apple shares are going for around $524 currently). The virtual currency's recent growth is interesting on a number of levels, and as an investor, it can be both exciting... Read more...
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