businessinsider.com Archives - 17 April 2014, Thursday

  • Fred Wilson: "With Bitcoin and the blockchain, I found something that got me excited again" — exc…

    Fred Wilson Interview

    businessinsider.com 13 Apr '14, 4pm

    That’s been a big theme for what’s been going on in the venture business over the past five to ten years. I think that is a good thing because it allows more people to participate in the financing of startups. You don’t need to have a $100 million fund to do that. Actually, with the l...

  • Take a look at 22 of the best #military #photos from 2013! @BusinessInsider #AirForce

    Military Photographer Of The Year 2014

    businessinsider.com 11 Apr '14, 8pm

    Tech Sgt. Russ Scalf/US Air Force U.S. Army Sgt. Michael Bodiford, a team leader assigned to 1st Platoon, 1st Battalion, 153rd Infantry Regiment, 39th Infantry Brigade, climbs Pinnacle Mountain Sept. 5, 2013, near Little Rock, Ark. Tech Sergeant Russ Scalf of the U.S. Air Force was na...

  • Bitcoin's Price Fluctuations Shouldn't Obscure Its Value As A Payments System

    Bitcoin's Price Fluctuations Shouldn't Obscure Its Value As A Payments System

    businessinsider.com 11 Apr '14, 5pm

    Unlike government-backed currencies, Bitcoin's elegant design places a strict limit on how many units can be created — 21 million. But each coin can be divided into 100 million pieces, which will allow it to scale as a payments technology. Bitcoin's daily average transaction volume st...

  • Bitcoin Is Getting Smashed Right Now

    Bitcoin $363

    businessinsider.com 11 Apr '14, 12am

    Bitcoin Is Getting Smashed Right Now Bitcoin Is Getting Smashed Right Now So ugly Bitcoin is. Earlier today it in the...

  • Investor group offers to buy Mt. Gox Bitcoin exchange for 1 single bitcoin, or just $400

    Investor Group Offers To Buy Mt. Gox

    businessinsider.com 10 Apr '14, 10pm

    Bloomberg Mark Karpeles, CEO of Mt. Gox. See Also Russia Withheld Crucial Details Of Boston Bombing Suspect The Hottest Private Equity Player In China Is A 28-Year-Old 'Princeling' 1,888 Companies Are Violating China's Pollution Guidelines (Reuters) - A group of investors is seeking t...

  • Bitcoin Prices Fall On China

    businessinsider.com 10 Apr '14, 2pm

    Bitcoin prices fell as low as $403 Thursday morning as Chinese banks began sending out shutdown notices to Bitcoin businesses, CoinDesk's Jon Southurst reports. That level hasn't been seen since November. Prices were down more than 7% just on the day. "Exchanges will stop account rech...

  • Why VCs Are Still Planning To Pour Tons Of Money Into Bitcoin

    Bitcoin VC Funding Surge

    businessinsider.com 07 Apr '14, 6pm

    In this same post-Gox period, we've continued to see a steady stream of new investments in and commitments to Bitcoin ventures. Late last month, crypto-payment group Circle announced it had closed a new $17 million funding around . SecondMarket CEO Barry Silbert, perhaps the most aggr...

  • Fed Economist Explains Something About Bitcoin That Almost Nobody Understands

    What Is Bitcoin Mining

    businessinsider.com 07 Apr '14, 8am

    One of the funny things about Bitcoin is the way its terminology seems rooted in ancient monetary history. First of all, there's the fact that it has "coin" in its name, harkening back to an increasingly irrelevant aspect of the monetary system. And then there's the fact that to obtai...

  • St. Louis Fed Vice President: Bitcoin Could Be A Good Threat To A Central Banks

    Interview With David Andolfatto

    businessinsider.com 06 Apr '14, 11pm

    David Andolfatto Last week, St. Louis Fed vice president and director of research David Andolfatto released a presentation on Bitcoin, becoming one of the most prominent central bank officials to study the cryptocurrency. We caught up with Andolfatto to ask him about why he put this d...

  • Bitcoin Keeps Getting Smashed

    Bitcoin Below $430

    businessinsider.com 03 Apr '14, 3am

    Alternative Dispute Resolution Alternative Medicine Animation Apparel & Fashion Architecture & Planning Arts and Crafts Automotive Aviation & Aerospace Banking Biotechnology Broadcast Media Building Materials Business Supplies and Equipment Capital Markets Chemicals Civic & Social Org...

  • Alleged Silk Road founder can't be guilty of money laundering since Bitcoin isn't money, argues lawyer.

    Ross Ulbricht Money Laundering Dismissal

    businessinsider.com 01 Apr '14, 7pm

    Free Ross Ulbricht Ross Ulbricht See Also The Toy Car Company That Launched At Apple's Developer Conference Thinks It's Solved 3 Major Problems In Robotics 8 Things You Never Knew Your iPhone's Headphones Could Do How To Instantly Browse The Most Popular Images From All Of Reddit The ...

  • What Did This Swiss Software Developer Have To Do With The Launch Of Bitcoin?

    Swiss Software Developer Bitcoin

    businessinsider.com 01 Apr '14, 4pm

    In 2007, Weber registered the site NaNiNu.com, which seemed to be an early social network designed to organize events and networking for foreigners living in Tokyo. One 2006 party oraganized on the site was described by its unnamed administrator as a farewell for “ a member of the inf...

  • A St. Louis Fed Official Made A Presentation About Bitcoin That Bitcoin Fans Are Going To Love

    Bitcoin Presentation

    businessinsider.com 01 Apr '14, 4pm

    Federal Reserve Bank of St. Louis St. Louis Fed Vice President David Andolfatto has outed himself as the central bank official m ost bullish on Bitcoin. In a new presentation , Andolfatto calls Bitcoin "a stroke of genius" and says the digital currency's technology is causing existing...

  • Bitcoin Has Been Getting Creamed

    Bitcoin Below $450

    businessinsider.com 31 Mar '14, 10am

    Just a few days ago it was near $600. The latest blow was last week's IRS ruling, which some people believe will make record-keeping requirements too burdensome for mainstream use. Here's the chart via Bitcoinwisdom :

  • Now Its UBS' Turn To Slam Bitcoin

    UBS: No Major Bank Is Backing Bitcoin

    businessinsider.com 28 Mar '14, 2pm

    Earlier this month, Goldman analysts took aim at most of the main arguments for why Bitcoin would succeed. This morning, it's UBS' turn. In a new note , a team led by analyst Derek De Vries douses Bitcoin's potential. "Bitcoin faces economic, technical and regulatory challenges as a t...

  • Online Payment Firm Stripe Now Supports Bitcoin

    businessinsider.com 28 Mar '14, 12pm

    for their payment-processing needs will soon be able to accept payments in Bitcoin. Stripe chief executive Patrick Collison touted the faddish payment method in a conversation with Re/code . But he also noted in passing that Stripe will soon be adding something far more useful: The ab...

  • Bitcoin Is Below $500

    businessinsider.com 28 Mar '14, 11am

    Alternative Dispute Resolution Alternative Medicine Animation Apparel & Fashion Architecture & Planning Arts and Crafts Automotive Aviation & Aerospace Banking Biotechnology Broadcast Media Building Materials Business Supplies and Equipment Capital Markets Chemicals Civic & Social Org...

  • The CEO Of Reddit Dumped All Over Bitcoin Users

    Reddit CEO Bashes Bitcoin Users

    businessinsider.com 27 Mar '14, 7pm

    between Bitcoin's earliest, most anarchist, and most libertarian advocates; and those willing to accept a greater level of regulation in the name of mainstream adoption. Thursday afternoon brought more evidence of this conflict. In new comments on Quora , reddit CEO Yishan Wong heavil...

  • One Of The World's Most Famous Value Investors Says He Owns Bitcoin

    Legg Mason's Bill Miller Says He Owns Bitcoin

    businessinsider.com 27 Mar '14, 7pm

    WealthTrack / YouTube Bill Miller Former Legg Mason Chairman and Chief Investment Officer Bill Miller has an extraordinary returns record , at one point beating the market for 15-straight years. And on CNBC Thursday afternoon, he said he personally owns Bitcoins. "Bitcoin is like a ve...

  • Bitcoin Is Getting Destroyed On Rumors That China Is Banning It

    bitcoin crash

    businessinsider.com 27 Mar '14, 3pm

    Bitcoin was down nearly 12% on rumors China has banned Bitcoin, CoinDesk's Jon Southurst reports . This follows an erroneous report that that had occurred last week . But this time the reporter writing up the news is sticking by his story, Southurst says, although the PBOC has not rel...

  • Singapore's Airport Was Just Named The World's Best — Again: Singapore's Changi Airport was just named the wor...

    Singapore Changi Airport [PHOTOS]

    businessinsider.com 27 Mar '14, 1pm

    Photo courtesy of Singapore Changi Airport Singapore's Changi Airport was just named the world's best airport in 2014 by the World Airport Awards. This is the second year that Changi took the top spot in Skytrax's World Airport Awards, the most prestigious airport award in the industr...

  • Here's The Real Reason Warren Buffett Doesn't Invest In Technology — Or Bitcoin

    Why Buffett Doesn't Invest In Technology

    businessinsider.com 27 Mar '14, 7am

    Reuters/Jason Reed Warren Buffett Silicon Valley venture capitalist Marc Andreessen set Twitter tongues wagging yesterday when he dismissed Warren Buffett's skepticism about Bitcoin by suggesting that Buffett was just an old white guy crapping on a technology he didn't understand . An...

  • IRS: Bitcoin Is Property Not Currency [FULL RELEASE] by @rjwile

    IRS: Bitcoin Is Property [FULL RELEASE]

    businessinsider.com 25 Mar '14, 6pm

    The character of the gain or loss generally depends on whether the virtual currency is a capital asset in the hands of the taxpayer. A taxpayer generally realizes capital gain or loss on the sale or exchange of virtual currency that is a capital asset in the hands of the taxpayer. For...

  • 13% Of Americans Would Choose Bitcoin Over Gold

    Bitcoin Awareness Survey

    businessinsider.com 25 Mar '14, 4pm

    Mike Nudelman/Business Insider Although almost half (48%) of American adults now know what Bitcoin is, just 13% say they would choose to invest in it over gold, according to a new Harris Interactive poll on behalf of Yodlee, a financial software firm. The poll was conducted in Decembe...

  • Thieves Swipe Nearly $70,000 From Bitcoin Exchange

    Thieves Swipe Nearly $1 Billion From Bitcoin Exchange

    businessinsider.com 25 Mar '14, 2pm

    Thieves have made off with approximately 1.55 million in a digital currency called BlackCoin, worth 120 Bitcoin, or about $70,000, from exchange site Cryptorush. Cryptorush rep "linkandzelda" made the announcement on Bitcointalk.org. The thieves took advantage of a glitch at the excha...

  • Marc Andreessen Is Going To Invest 'Hundreds Of Millions' More Dollars In Bitcoin

    Andreessen Horowitz Doubling Down On Bitcoin

    businessinsider.com 23 Mar '14, 11am

    The Wall Street Journal's Gregory Zuckerman reports Andreessen Horowitz plans to invest "hundreds of millions" more dollars in Bitcoin-related businesses, on top of the $50 million they have already dropped, mostly on Coinbase. Bitcoin prices have lost nearly 50% of their value over t...

  • A False Report About A Chinese Bitcoin Ban Sent Prices Tanking This Morning

    False China Report Bitcoin Price Drop

    businessinsider.com 21 Mar '14, 5pm

    An erroneous report about China banning Bitcoin caused prices to tank this morning, according to Coindesk's Pete Rizzo . The report, published on mega Chinese social network Sina Weibo but since retracted, indicated the People's Bank of China had set a deadline of April 15 for all fir...

  • New Heists Reveal Two Key Things About The Evolution Of Bitcoin

    Heists And Bitcoin

    businessinsider.com 20 Mar '14, 6pm

    Google Images The bad news is that three Bitcoin thefts made headlines this week. The slightly better news is they tell us two important things about the state of Bitcoin. The hook of the first heist was how mind-bogglingly simple the scheme was : A guy called tech support pretending ...

  • The Winklevoss Twins Are On The Verge Of Getting Beat At Their Own Bitcoin Game

    SecondMarket Public Bitcoin ETF

    businessinsider.com 20 Mar '14, 1pm

    Cameron and Tyler Winklevoss were supposed to launch the first-ever publicly traded Bitcoin ETF. They are now likely to be lapped by Barry Silbert's SecondMarket. The firm, whose Bitcoin Investment Trust (BIT) is already the largest regulated private Bitcoin investment fund in the wor...

  • This Has To Be The Easiest Bitcoin Heist Of All Time

    Canadian Bitcoin Heist

    businessinsider.com 18 Mar '14, 3pm

    Screenshot See Also A Guy Who Owns A Bitcoin-Only Electronics Store Is Revealing Everything On Reddit A Company Innovating The Way We Pay For Stuff Ditched Bitcoin And Concentrated On The Dollar Instead Carnegie Mellon Has A Scrabble-Playing Trash-Talking Robot Named Victor Canadian B...