15 Apr '13, 1am

#Bitcoin, a "cryptocurrency", went on a tear last week, rising to close to $300 dollars, before plunging

#Bitcoin, a "cryptocurrency", went on a tear last week, rising to close to $300 dollars, before plunging

BITCOIN , a "cryptocurrency" that has all the financial world talking, has had a crazy few days. Bitcoins have always been volatile, but over the past week the currency went on a tear, rising to close to $300 dollars, before plunging, losing some 60% of their value in the space of a few hours. Felix Salmon considers the carnage and writes: Bitcoin is clearly not an effective store of wealth — just look at how quickly that wealth can be evaporated. Neither is it a useful payments mechanism, given how fast its value can fluctuate. Currently, it can take an hour for a bitcoin transaction to clear, which means that the value of the transaction when it clears can be radically different from its value at inception. Bitcoin only works for payments if you can be reasonably sure that its value will remain reasonably steady for at least the next hour or so. I'm going to play the ped...

Full article: http://www.economist.com/blogs/freeexchange/2013/04/excha...

Tweets

Bitcoin Isn't the Only Cryptocurrency in Town

Bitcoin Isn't the Only Cryptocurrency in Town

mashable.com 15 Apr '13, 2pm

In recent weeks, the digital currency Bitcoin has soared and then dipped in value, along the way attracting more public at...

Own your own Bitcoin Exchange

bex.io 13 Apr '13, 7pm

We do the tech. You do the rest. Bex removes all the technical complexity of running a Bitcoin Exchange. Security Besides ...

Bitcoin or bit-con? Meet the crypto-currency th...

thejournal.ie 13 Apr '13, 8am

Bitcoin’s volatility makes it quite difficult to use as a currency at the moment, even as it sees more widespread acceptan...

The Bitcoin Collapse Continues — Now Below $57

The Bitcoin Collapse Continues — Now Below $57

businessinsider.com 16 Apr '13, 8am

BOSTON POLICE CHIEF: 'We Will Turn Over Every Rock' To Find Those Responsible For Marathon Explosions BOSTON POLICE CHIEF:...

Are DDoS attacks being used to fix Bitcoin rates?

Are DDoS attacks being used to fix Bitcoin rates?

rt.com 11 Apr '13, 6pm

Are DDoS attacks being used to fix Bitcoin rates? Get short URL Published time: April 11, 2013 18:35 Tweet Share on Tumblr...

Bitcoin Isn't the Only Cryptocurrency in Town

technologyreview.com 15 Apr '13, 4am

In recent weeks, the digital currency Bitcoin has soared and then dipped in value, along the way attracting more public at...

Biggest Bitcoin Exchange Halts Trading After Price Plummets: The Bitcoin economy shed a billion dollars overni...

Biggest Bitcoin Exchange Halts Trading After Pr...

spectrum.ieee.org 11 Apr '13, 9pm

For the last month, Bitcoin has been growing fat on the vine, like an over-watered grape in July. But the fun is now over....

"I'm heavily invested in something called bitco...

colbertnation.com 18 Apr '13, 7pm

The Colbert Report Full Episodes About The Colbert Report Tickets for The Colbert Report Buy The Colbert Report Merchandise

Beyond The Bitcoin Bubble

Beyond The Bitcoin Bubble

techcrunch.com 13 Apr '13, 1pm

A few months ago, while visiting a hacker friend’s magnificent new San Francisco loft, he gestured to a little alcove stuf...

Bitcoin Starts to Tank Again after Top Bitcoin ...

thenextweb.com 11 Apr '13, 10pm

Here we go again. Following yesterday’s Bitcoin crash , the top exchange for the digital currency Mt. Gox decided to tempo...

DDoS cripples Bitcoin exchange Mt. Gox after tr...

news.cnet.com 12 Apr '13, 5am

Update at 6:15 a.m. PT Friday: Bitcoin's tumble continued after trading resumed. As of now, the digital currency is tradin...

DDoS cripples Bitcoin exchange Mt. Gox after trading resumes

DDoS cripples Bitcoin exchange Mt. Gox after tr...

news.cnet.com 12 Apr '13, 5am

Less than two hours after resuming Bitcoin trades following a lengthy suspension, currency exchange Mt. Gox is offline, th...

Meet the Bitcoin Millionaires via @BW

Meet the Bitcoin Millionaires via @BW

businessweek.com 11 Apr '13, 4am

Many people have lost some data while reformatting a computer hard drive. Jered Kenna lost more than that. In 2010 he eras...

Mt. Gox goes back offline as the Bitcoin exchan...

theverge.com 12 Apr '13, 5am

After a self-imposed 12-hour halt in trading due to crammed servers, Tokyo-based Bitcoin exchange Mt. Gox attempted to get...