businessweek.com Archives - 25 October 2014, Saturday

  • Bitcoin Economy Widens as Parents Pay Digital Allowance - Businessweek

    Bitcoin Economy Widens as Parents Pay Digital Allowance

    businessweek.com 25 Sep '14, 5am

    Earlier this year, Mary Fons joined the Bitcoin Economy. She uses the digital currency to buy gift cards and office supplies. Her partner reimburses Fons with bitcoin for his portion of the rent. Unlike many of the currency’s early adopters, Fons isn’t a nerd or self-declared libertar...

  • Ripple and Anthem Vault Combine Gold With Bitcoin-Style Currency

    businessweek.com 30 Jul '14, 10am

    On the spectrum of currency ideologues, gold bugs and Bitcoin enthusiasts occupy equal but opposite positions. They’re both suspicious that governments are going to meddle around with normal money so much that it becomes useless—it’s just that one group thinks math is the antidote and...

  • Ex-Goldman Trader’s Bitcoin Exchange to Fill Mt. Gox Void -

    businessweek.com 23 Jul '14, 12am

    Yuzo Kano quit Goldman Sachs Group Inc. (GS:US ) twice: once for a rival bank, the second time to open Japan’s first bitcoin exchange since the collapse of Mt. Gox. When Kano, 38, left his job as a derivatives and convertible bonds trader in December, bitcoin had climbed to a record $...

  • Russians Shopping Less as Ruble Drops Hit Rolex-Selling Airports - Businessweek: Russians Shopping Less as Rub...

    Russians Shopping Less as Ruble Drops Hit Rolex-Selling Airports

    businessweek.com 25 Jun '14, 11pm

    European airports are suffering from a slump in retail sales that typically deliver two-thirds of profit at major hubs as a sliding ruble curbs spending of Russians who can spend four times as much as the average traveler. The Ukraine crisis and strength of the euro, pound and Swiss f...

  • Louis Vuitton is getting both richer and more expensive:

    Money Is Still No Object for LVMH's Free-Spending Customers

    businessweek.com 10 Apr '14, 9pm

    Louis Vuitton is getting both richer and more expensive. When the stock market is strong, that’s often the handsome way things unfold for a blue-chip luxury house. LVMH (MC:FP ) said sales increased 4 percent, to €7.2 billion ($10 billion), in the first quarter, in part because it rai...

  • Bitcoin Isn't Really Banned in China—and It's Quickly Gaining Ground via @BW #bitcoin

    BTC China's Bobby Lee: Bitcoin Isn't Really Banned in China—and It's Quickly Gaining Ground -

    businessweek.com 20 Mar '14, 7pm

    Bobby Lee, the founder of China’s biggest Bitcoin exchange, BTC China, went on Bloomberg TV yesterday to knock down the false notion that virtual currency had been banned in his country. In December, China’s central bank issued guidance that bars financial institutions from processing...

  • Biggest Billionaire Losers in Crimea Crisis: Russians and Louis Vuitton

    Biggest Billionaire Losers in Crimea Crisis: Russians and Louis Vuitton

    businessweek.com 04 Mar '14, 4pm

    Markets tanked worldwide yesterday as the crisis in Crimea escalated. Plutocrats were hit especially hard. If you look at the top five money losers on earth, as measured by the Bloomberg Billionaires Index, a certain pattern emerges. They are: 1. Gennady Timchenko (Russia) 2. Leonid M...

  • Adidas Pulls the Pseudo-Scarcity Trick With Stan Smith Sneakers

    businessweek.com 23 Jan '14, 10pm

    Adidas (ADDYY ) , slipping a bit in its ongoing game with Nike (NKE ) , is pulling a 50-year-old all-star off the bench. The German sneaker giant has re-released its Stan Smith model , one of its best-selling shoes of all time. Leaning on a “classic” shoe is a no-brainer. The strategy...

  • Adidas Pulls the Pseudo-Scarcity Trick With Stan Smith Sneakers

    businessweek.com 23 Jan '14, 10pm

    Adidas (ADDYY ) , slipping a bit in its ongoing game with Nike (NKE ) , is pulling a 50-year-old all-star off the bench. The German sneaker giant has re-released its Stan Smith model , one of its best-selling shoes of all time. Leaning on a “classic” shoe is a no-brainer. The strategy...

  • Interactive Simulation: How to Mine Bitcoin

    businessweek.com 13 Jan '14, 5pm

    The transaction is not run through a bank, or credit card company, or any single well-defined entity at all. Instead, it is distributed to every computer on the Internet that’s running the Bitcoin software. These computers check the public global record of transactions to confirm that...

  • Bitcoin-Mining Chips, Gear, Computing Groups: Competition Heats Up

    businessweek.com 09 Jan '14, 1pm

    It’s not clear whether Bitcoin’s inventor, who disappeared from the Internet in mid-2010, was prophetic enough to imagine what happened last year. The value of Bitcoin exploded, with the price of an individual coin jumping from $100 in July to $200 in October to more than $1,000 as of...

  • cover

    Bitcoin Dreams: Bloomberg Businessweek's Cover, With Unicorn

    businessweek.com 09 Jan '14, 12pm

    The Bitcoin-Mining Arms Race Heats Up Bridge Scandal Destroys Christie's 'Nice Jerk' Image Confide, a Snapchat for the Corner Office Six Lessons From Boeing's Big Contract Victory The Waste and Corruption of Vladimir Putin's 2014 Winter Olympics The Bitcoin-Mining Arms Race Heats Up W...

  • Bitcoin-Mining Chips, Gear, Computing Groups: Competition Heats Up

    businessweek.com 09 Jan '14, 11am

    It’s not clear whether Bitcoin’s inventor, who disappeared from the Internet in mid-2010, was prophetic enough to imagine what happened last year. The value of Bitcoin exploded, with the price of an individual coin jumping from $100 in July to $200 in October to more than $1,000 as of...

  • Does Bitcoin Have a Future in Politics?

    Does Bitcoin Have a Future in Politics? A Texas Senate Candidate Thinks So

    businessweek.com 08 Jan '14, 11am

    Representative Steve Stockman (R-Tex.) is no stranger to provocative proposals. He authored one bill to repeal a federal ban on carrying firearms in school zones and one declaring that human life exists from fertilization. Now, in his long-shot bid for the U.S. Senate, Stockman has tu...

  • The Dollar Will Never Fall to Bitcoin

    businessweek.com 24 Dec '13, 11am

    “A significant benefit of bitcoin in the eyes of many in the bitcoin community is its assurance of a stable base money supply. … The rate of new bitcoin mining is similar to the mining rate of precious metals such as gold or silver. … This means that bitcoin is largely inflation-proof...

  • Bitcoin and the massive deflation no one is talking about:

    The 'Bitcoin Consumer Price Index' Shows Massive Deflation

    businessweek.com 12 Dec '13, 9pm

    Mention “deflation” and the first thing people think of is the Great Depression of the 1930s. But the worst-ever deflation going on right now is in the Bitcoin world. It’s not that Bitcoins are losing value; this year, Bitcoin is up 64-fold. As a result, prices of real things in terms...

  • Here's why today's Bitcoin selloff won't be the last

    Bitcoin's Volatility Problem: Why Today's Selloff Won't Be the Last

    businessweek.com 05 Dec '13, 6pm

    From recent highs of $1,240, Bitcoin plunged as much as 30 percent, to $870, early on Dec. 5, after China’s central bank announced regulations forbidding financial institutions from handling Bitcoin transactions. The U.S. Federal Reserve has no plans to regulate Bitcoin. But former Fe...

  • Moscow asks Louis Vuitton to get rid of that giant suitcase on Red Square

    Russians to Louis Vuitton: Get Rid of That Giant Suitcase on Red Square

    businessweek.com 27 Nov '13, 4pm

    Louis Vuitton, the French luxury house, is facing protests over a giant replica of a steamer trunk it had installed in Red Square, Moscow’s best-known historic landmark. The 100-foot-long, 30-foot-tall structure was built to house a temporary exhibit honoring the 120th anniversary of ...

  • Singapore and Australia Hit by Latest Snowden Spying Leak

    businessweek.com 26 Nov '13, 4pm

    The latest espionage scandal courtesy of Edward Snowden is in Southeast Asia, where the Malaysian government is indignant following a report in the Sydney Morning Herald on Monday that Singapore helped the Americans and Australians spy on both Malaysia and Indonesia. The spying dates ...

  • Malaysia Summons S'pore Official Over Spying Claims

    businessweek.com 26 Nov '13, 6am

    Malaysia summoned Singapore’s high commissioner today to respond to allegations of spying which risk damaging improved political and business ties between the Southeast Asian neighbors. Indonesia and Malaysia have been key targets for Australian and U.S. intelligence cooperation since...

  • Bitcoin Mining Chips, a High-Tech Arms Race

    2014 Outlook: Bitcoin Mining Chips, a High-Tech Arms Race

    businessweek.com 15 Nov '13, 4am

    The easiest way to get a Bitcoin is to buy one. You can join drug dealers, speculators, and the curious by hopping onto an online exchange and purchasing one unit of the digital currency for, as of Nov. 11, about $340. But you can get Bitcoins for free by mining them, and a new breed ...

  • A Crocodile's Bumpy Road From Farm to Handbag

    businessweek.com 30 Oct '13, 12am

    These days, women of every economic stripe can be seen carrying pricey leather handbags. Not so with totes made of crocodile, one of the most difficult luxury materials to obtain, especially in the pristine condition wealthy fashionistas expect. As demand from the world’s elite surges...

  • A Crocodile's Bumpy Road From Farm to Handbag

    businessweek.com 29 Oct '13, 7pm

    These days, women of every economic stripe can be seen carrying pricey leather handbags. Not so with totes made of crocodile, one of the most difficult luxury materials to obtain, especially in the pristine condition wealthy fashionistas expect. As demand from the world’s elite surges...

  • Singapore Airlines Ends Longest Commercial Flights From Newark and Los Angeles

    businessweek.com 21 Oct '13, 11pm

    The world’s two longest commercial flights, linking Singapore with Newark and Los Angeles, are landing in the history books. Singapore Airlines’ (SIA:SP ) daily nonstop from Newark stretches across 9,500 miles and averages about 18 hours via the North Pole, although the flight can las...

  • Will Migrant Workers Drive Bitcoin's Mundane Future?

    Will Migrant Workers Drive Bitcoin's Mundane Future?

    businessweek.com 08 Oct '13, 10am

    A certain seediness seems to be a necessary element in getting people’s juices flowing about virtual currencies: speculative fervor , some international crooks , the Winklevii , the demise of sprawling online black market fueled by Bitcoin transactions . But the future of these “math-...

  • #bitcoin

    Silk Road's Demise Sinks Bitcoin Value—and Saves Bitcoin's Reputation -

    businessweek.com 02 Oct '13, 8pm

    For most of its brief existence, Bitcoin has been widely associated with Silk Road—the anonymous cybercurrency, naturally enough, wound up backing transactions on the shadowy online market for drugs, hacking services, and other illegal activities. So it makes sense that the value of B...

  • For Nike, Classic Converse Line Outruns High-Tech Sneakers

    businessweek.com 27 Sep '13, 6pm

    Sportswear is a space-race these days, a frenzy of new technology and manufacturing techniques to make products lighter, stronger, warmer, and cooler at the same time. Nike (NKE ) , for example, seems to mention “innovation” as much as Apple (AAPL ) when it speaks with investors. “It’...

  • For Nike, Classic Converse Line Outruns High-Tech Sneakers

    businessweek.com 27 Sep '13, 5pm

    Sportswear is a space-race these days, a frenzy of new technology and manufacturing techniques to make products lighter, stronger, warmer, and cooler at the same time. Nike (NKE ) , for example, seems to mention “innovation” as much as Apple (AAPL ) when it speaks with investors. “It’...

  • For Nike, Classic Converse Line Outruns High-Tech Sneakers

    businessweek.com 27 Sep '13, 5pm

    Sportswear is a space-race these days, a frenzy of new technology and manufacturing techniques to make products lighter, stronger, warmer, and cooler at the same time. Nike (NKE ) , for example, seems to mention “innovation” as much as Apple (AAPL ) when it speaks with investors. “It’...

  • For Nike, Classic Converse Line Outruns High-Tech Sneakers

    businessweek.com 27 Sep '13, 5pm

    Sportswear is a space-race these days, a frenzy of new technology and manufacturing techniques to make products lighter, stronger, warmer, and cooler at the same time. Nike (NKE ) , for example, seems to mention “innovation” as much as Apple (AAPL ) when it speaks with investors. “It’...