Reddit Users Lose Real Money After Meme Currency Bot Dies

Another day, another cryptocurrency clusterfuck. This week, the creator of the tipping bot “dogetipbot”—a service that let Reddit users “tip” each other in Dogecoin—announced that his company is broke, he’s broke, and the bot is broke because he spent all the coins, after he himself ran out of money. Read More >>

Bitcoin Is Now Worth More Than Gold

Last night, for the first time, the value of Bitcoin was higher than gold: $1,268 (about £1036) for one Bitcoin vs $1,233 (about £1,008) for a troy ounce of gold when the markets closed. Read More >>

Prepare Yourself for Stock Trading Using Bitcoin Technology

Blockchain, the digital ledger underpinning Bitcoin, is perhaps the cryptocurrency’s most interesting (and intelligent) feature, with its ability to securely and publicly record transactions. Given that stock trading is a confusing mishmash of property trading hands, blockchain-powered trades seems like a surprisingly good idea. Read More >>

Authorities Charge Crypto-Currency Companies Over Ponzi Fraud Scheme 

The US Securities and Exchange Commission (SEC) has charged controversial cryptocurrency entrepreneur Josh Garza and two of his companies, GAW Miner and ZenMiner, with running a Ponzi scheme to defraud people. Read More >>

Why Does Montreal Have a Bitcoin Embassy?

In the heart of downtown Montreal, between a boarded-up bar and restaurant, there’s a three-storey glass building. It looks for all the world like any other normal office — that is, until you spot the sign swaying in the wind: “Bitcoin Embassy”. Read More >>

giz explains
What’s the Blockchain, and Why Does Bitcoin Depend On It?

It’s going to unshackle us from the oppressive dungeon of fiat currency! But also criminals and rogue cops use it to do nefarious drug stuff! Digital currency is often defined by its volatile hype cycle. And yet its most promising feature is incredibly mundane-sounding: a bookkeeping system called “the blockchain". Read More >>

Scammers and Sceptics are Strangling the Future of Digital Money

Bitcoin devotees and other cryptocurrency fans say that maths gives their radical ideas so much potential. But starting a new value system also requires a level of faith in the people using the maths. As “sh*tcoin” scams pile up, it’s becoming clear that new currencies need trust, too. And they don’t have it. Read More >>

No, a Cryptocurrency Can’t Fix a Broken Economy

Auroracoin, the digital currency given as a free hand-out to every resident of Iceland, was supposed to be a a salvo for a country rankled by a broken financial system. It was heralded as the beginning of hyper-localised cryptocurrencies; it became the second-largest cryptocurrency before it even launched, valued at a third of a billion pounds at its peak. Read More >>

You Can Bid on Silk Road Boss Ross Ulbricht’s Multi-Million Bitcoin Stash

If you've always wanted to dabble in cryptocurrency speculation but you were just waiting until you could acquire some Bitcoin that you knew was FOR SURE used in digital drug deals, I have some good news for you: the United States Marshals Service is auctioning off 50,000 Bitcoin seized from Ross Ulbricht's personal computer. Read More >>

The First Licensed US Bitcoin Exchange Opens Today

The bitcoin service provider Coinbase is set to make history later today: it's going to launch the first licensed US exchange for the currency, approved in 24 jurisdictions around the country. Read More >>

Silk Road Bitcoin Auctioned Off to Guy Who Wants to Split Up California

When the FBI shut down illegal online marketplace the Silk Road, it seized a stash of 30,000 bitcoin from the underground website and announced plans to auction the supply off. This week, venture capitalist and would-be California-splitter-upper Tim Draper won all of it, gaining an estimated $17.7 million (£10.3 million) in illicit cryptocurrency. Read More >>