25 Feb '14, 7am

Top Bitcoin exchange goes offline

Continue reading the main story How Bitcoin works Bitcoin is often referred to as a new kind of currency. But it may be best to think of its units being virtual tokens rather than physical coins or notes. However, like all currencies its value is determined by how much people are willing to exchange it for. To process Bitcoin transactions, a procedure called "mining" must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution. For each problem solved, one block of Bitcoins is processed. In addition the miner is rewarded with new Bitcoins. This provides an incentive for people to provide computer processing power to solve the problems. To compensate for the growing power of computer chips, the difficulty of the puzzles is adjusted to ensure a steady stream of about 3,600 new Bitcoins a day. There are currently about 11 millio...

Full article: http://www.bbc.co.uk/news/technology-26333661

Tweets

Bitcoin Exchange Mt. Gox Goes Offline Amid Alle...

wired.com 25 Feb '14, 5am

The building that houses the Mt. Gox offices in Tokyo. Photo: Ariel Zambelich/WIRED Mt. Gox, once the world’s largest bitc...

Bitcoin exchange Mt. Gox goes offline as insolvency rumors swirl

Bitcoin exchange Mt. Gox goes offline as insolv...

thenextweb.com 25 Feb '14, 3am

Troubled Bitcoin exchange Mt. Gox, once the largest of its kind, has disappeared from the Internet after its website went ...

If you're just waking up today, the big news is...

businessinsider.com 25 Feb '14, 3am

MtGox, once the world's largest Bitcoin exchange, has gone offline . Sites tracking trading on the Bitcoin exchange are re...

Daily Roundup: Mt. Gox goes offline, OS X update, Disney's new app and more!

Daily Roundup: Mt. Gox goes offline, OS X updat...

engadget.com 26 Feb '14, 1am

Twitch arriving on Xbox by March 11th The second half of Microsoft's big Xbox One update is expected just ahead of Titanfa...

Here is how much money the top 1% of Bitcoin ho...

businessinsider.com 24 Feb '14, 2pm

This chart (below) is rising on Reddit right now . It shows the distribution of Bitcoin wealth among Bitcoin holders, put ...

Bitcoin: What's In It For Me?: Like gold, the value of an individual bitcoin on any given day varies, so buyer...

Bitcoin: What's In It For Me?: Like gold, the v...

news.discovery.com 24 Feb '14, 11am

David Karp At age 25, Tumblr founder David Karp created a fast-growing international social media, blogging platform. Usin...

Collapse of exchange spells trouble for bitcoin

Collapse of exchange spells trouble for bitcoin

news.yahoo.com 25 Feb '14, 10pm

TOKYO (AP) — The sudden disappearance of one of the largest bitcoin exchanges only adds to the mystery and mistrust surrou...

Bitcoin's price plummets as Mt. Gox goes dark

Bitcoin's price plummets as Mt. Gox goes dark

forbes.com 25 Feb '14, 7am

fell close to 23% from its already battered price to around $418 at its lowest point Monday night as the oldest and once-l...

The Slow and Painful Death of the Mt. Gox Bitcoin Exchange

The Slow and Painful Death of the Mt. Gox Bitco...

spectrum.ieee.org 25 Feb '14, 10pm

I've always considered the death scene in Cyrano de Bergerac to be a bit too drawn out and overly wrought. But when watchi...

Thailand’s top Bitcoin exchange resumes trading...

thenextweb.com 17 Feb '14, 6am

Last July, Thailand’s top Bitcoin exchange shut down following pressure from the Bank of Thailand. Now, more than six mont...

VIDEO: Bankruptcy for bitcoin exchange MtGox

VIDEO: Bankruptcy for bitcoin exchange MtGox

bbc.co.uk 01 Mar '14, 4am

MtGox bitcoin exchange files for bankruptcy 1 March 2014 Last updated at 04:38 GMT One of the world's biggest Bitcoin exch...

Thailand’s top Bitcoin exchange resumes trading...

thenextweb.com 17 Feb '14, 6am

Last July, Thailand’s top Bitcoin exchange shut down following pressure from the Bank of Thailand. Now, more than six mont...

MtGox leaves the Bitcoin Foundation board

gigaom.com 24 Feb '14, 8am

Mark Karpeles, CEO of the pioneering but troubled Bitcoin exchange MtGox, has resigned his seat on the board of the Bitcoi...

Japan investigates ailing Bitcoin exchange MtGox

Japan investigates ailing Bitcoin exchange MtGox

telegraph.co.uk 27 Feb '14, 8am

Meanwhile, the company’s Tokyo offices were empty this week, with a handful of protestors gathered outside, claiming that ...

MtGox chief quits Bitcoin Foundation: The chief...

bbc.co.uk 24 Feb '14, 8am

Continue reading the main story How Bitcoin works Bitcoin is often referred to as a new kind of currency. But it may be be...