Items tagged with Currency
Apple made a huge amount of announcements today as it pertains to OS X and iOS 8, but one theme managed to translate throughout: it's opening itself up a bit more than it has in the past. That means that third-party keyboard apps will now be supported throughout the OS, and third-party apps will have access to the Touch ID fingerprint sensor. Beyond all of that, it appears that even Bitcoin will be supported within iOS 8, which is a direct 180 from Apple's stance just a few months ago. The company had been fair heavy-handed with its disapproval of apps related to the virtual currency, and while it has yet to come out and straight-up confirm that Bitcoin will be allowed into the iOS ecosystem...
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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 did, a car which retails for about $100,000 USD. Lamborghini Sesto Elemento As Bitcoin values change...
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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 half. Another issue governments have with Bitcoin is that due to its anonymous, untraceable nature,...
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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 and obviously rewarding, as well as stressful. In April of this year, Bitcoins were trading for...
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If you stop a random stranger on the street and ask that person what a Bitcoin is, you might get a confused stare. Try asking that same question a year from now and maybe every person you ask will say, "It's a digital currency that's decentralized and uses cryptography to use control transactions to prevent double-spending." Or they'll simply tell you it's a digital currency. Either way, Bitcoins are growing too large to ignore. Bitcoins have nearly doubled in value in the just the last month alone, going from $125 at the start of October to around $310, depending on where you look. The virtual currency is currently trading at an all-time high, and that has some scratching their heads and others...
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Despite still being in its infancy and having a highly sporadic value, Bitcoin has quickly established itself as a real, respected currency. Now, thanks to Bitcoin trading service Bitcoiniacs, and ATM builder RoboCoin, Bitcoin's validity is set to become strengthened even further. Next week, Vancouver will welcome the world's first Bitcoin ATM. Located downtown near coffee shop Waves, people will be able to use this ATM to convert their Canadian money into Bitcoin, and vice versa. In order to adhere to Canadian anti-money-laundering laws, a maximum of $3,000 per day can be withdrawn or deposited, and to help enforce this, a palm scan will be required. Yes, a palm scan to access your money. The...
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Bitcoin is a digital currency that has been rather volatile both in regard to its legality and in terms of its value. Up and down it goes, and the value has dropped again to $129 after hitting $140 the previous day in the wake of the shutdown of online marketplace Silk Road by the FBI. Silk Road was a space where illegal drugs and other shady miscellany were allegedly sold, and the anonymity afforded by Bitcoin was certainly an appeal for buyers. Those Bitcoins--all $3.6 million worth--have now been “seized” by the FBI, and Silk Road’s owner Ross William Ulbricht (aka “Dread Pirate Roberts”) has been arrested. It’s likely that the arrest had something to do...
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Who could have ever guessed that a digital currency would cause so much commotion, and for so long? Well beyond the "fad" stage is Bitcoin -- a digital currency that suddenly has the investing world's attention, and even high-stakes players are investing in what amounts to nothing in hopes of it paying off. While it's a bit more legitimate than materials in World of Warcraft, it's not very far from that notion. Still, a popular U.S. Bitcoin exchange (Tradehill) has had to suspend trading of the currency as financial regulators continue to grapple with the legalities involved. The currency has seen its trading start, stop, peak, drop, start, and stop again, all in the last couple of months. It's...
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Bitcoin, the digital currency that has its fair share of supporters and haters, has been deemed illegal in Thailand. Writing in a blog post on Monday, Bitcoin announced that over the last several months, it has been trying to get its currency registered by the Thailand government to ensure it was offering its digital funds through legal means. After initially denying Bitcoin the legal status to allow citizens to buy and sell its currency, the government's financial watchdog, the Bank of Thailand, offered to hear its case on July 29th. At a Bank of Thailand conference yesterday, Bitcoin showed off to 15 members of the financial agency how the currency works, and provided insight into its operation,...
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When you're suddenly launched into money, you have the potential to do some wild things. Not that the Winklevoss twins were ever poor, but after the Facebook ordeal that landed 'em millions, they've started to make a serious name for themselves. They've rekindled a start-up scene in Southern California, and now, they're planning a fund for Bitcoins. Yes, seriously. Bitcoins. The flucuating digital currency that has little grounding in reality beyond those absorbed in the technology universe. This week, Cameron and Tyler Winklevoss filed a proposal with securities regulators that would essentially enable any and all investors to trade Bitcoins, exactly as if they were stocks. They'd establish...
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Of all the current Internet curiosities, Bitcoin is one of the most fascinating. The digital/virtual currency is decentralized, has no change fees, and no state oversight to speak of, and nobody seems to know exactly what to do with it even as it grows in popularity and value. Case in point: On Mt. Gox, a major Bitcoin trading site, the value of Bitcoin exploded from about $100 to $265 in less than a day. Before the day was out, however, the price dropped sharply to $200. A few hours hence saw the value bottom out at $125 and then bounce around from to $180 to $140. (Click to enlarge) Then, Mt. Gox got hit with a DDoS attack--or maybe not. According to Mt. Gox, it was a victim of its own success....
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The first time I heard of "Bitcoin", I admit that I found the premise to be a little far-fetched... something that simply wouldn't work. But time and time again, examples creep up that give some credence to the currency, and even today, online vendors have been adding Bitcoin to their lists of accepted payment methods. Most recently, Kim Dotcom's Mega site recently began accepting the currency. Now, we receive word that Bitcoin has become more valuable than 20 other currencies in the world, such as Liberia's and Bhutan's. Today, about $1 billion worth of Bitcoin floats around the Internet, and because some countries are facing severe financial crisis, it has opened the eyes of some at risk to...
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