Mt. Gox chief marketing officer Gonzague Gay-Bouchery, left; CEO Mark Karpeles, right. The virtual currency Bitcoin isn’t backed by any assets or central authority. It’s only three years old and its exact origin is a mystery. And yet, for some reason, tens of thousands of people have ...
Bitcoin has been described as cash for the internet, but gold is a more appropriate analogy. Anyone can "mine" Bitcoins on their own computers by running a program that’s designed to produce a 64-digit number in a resource-intensive way. This program randomly computes a cryptographic ...
Remember pirateat40, the e-currency banker we speculated could be the Bernie Madoff of Bitcoin ? Well, it looks like he owes a lot of people money. On August 17, pirateat40 announced the closure of Bitcoin Savings & Trust , a virtual hedge fund that promised to pay high rewards to inv...
