theverge.com Archives - 17 April 2014, Thursday

  • Alleged Silk Road owner says he can't be guilty of money laundering if bitcoin isn't money

    Alleged Silk Road owner says he can't be guilty of money laundering if bitcoin isn't money

    theverge.com 01 Apr '14, 6pm

    Ross Ulbricht, who stands accused of running the Silk Road black market under the name "Dread Pirate Roberts," says that new federal bitcoin laws make the charges against him invalid. In a filing over the weekend, Ulbricht's lawyers defended him against charges of hacking, narcotics t...

  • 4chan user devises a way to bank through GameStop: Forget Bitcoin banking. One intrepid 4chan user has found a...

    4chan user devises a way to bank through GameStop

    theverge.com 23 Mar '14, 4pm

    "GameStops are just as prevalent as banks in my town and I work at a mall so it's even more convenient than running an errand to the bank or using an ATM and getting charged," the anonymous poster writes. And in lieu of credit card or bank membership rewards, the poster has never miss...

  • Watch this: what if Bitcoin had existed in the 1990s?

    Watch this: what if Bitcoin had existed in the 1990s?

    theverge.com 21 Mar '14, 8pm

    The proliferation of excess computing power and near-constant internet connectivity over the last decade is certainly a big part of what's made Bitcoin's success possible. But there's no great reason that today's digital currencies couldn't have been around in some form when the inter...

  • Mt. Gox crumbles: all the news on Bitcoin's biggest bankruptcy scandal

    Mt. Gox crumbles: all the news on Bitcoin's biggest bankruptcy scandal

    theverge.com 21 Mar '14, 3pm

    Mt. Gox was once Bitcoin's biggest exchange. After first slipping in the ranks to several newcomers, the exchange shut down its website and announced that hundreds of millions of dollars worth of customers' bitcoins had been lost to a series of hackings that had gone unnoticed over se...

  • Dorian Nakamoto issues a final public statement insisting he didn't invent Bitcoin

    Dorian Nakamoto issues a final public statement insisting he didn't invent Bitcoin

    theverge.com 17 Mar '14, 2pm

    Dorian Satoshi Nakamoto, the man Newsweek pinned as the creator of Bitcoin, has retained legal counsel in an attempt to clear his name. In a pointed statement issued early Monday, Nakamoto again emphatically denied any connection to the cryptocurrency. "I did not create, invent, or ot...

  • The Weekender: The Verge's best stories of the past week

    Weekender: producing posters, selling science, and turning bills into bitcoins

    theverge.com 15 Mar '14, 2pm

    Welcome to The Verge : Weekender edition. Every Saturday, we'll bring you some of the best and most important reads of the past seven days, from original reports, to in-depth features, to reviews and interviews. Think of it as a collection of some of our favorite pieces that you may h...

  • This is what robot strippers look like

    theverge.com 12 Mar '14, 2am

    The robot apocalypse may just start in a strip club. At the CeBIT expo in Hanover, German software developer Tobit put together a booth that features two pole dancing robots, egged on by a fellow robot DJ with a megaphone for a head. The two ladybots move and twist in time to the musi...

  • Hackers claim bankrupt Mt. Gox still has customers' bitcoins

    theverge.com 10 Mar '14, 4am

    says the veracity of the file has yet to be confirmed. It could simply highlight the kind of poor accounting practices that allowed hackers to steal the money in the first place, showing money in Mt. Gox's balances that has long since made its way to hacker hands; or it could be evide...

  • Vergecast 114 - The man behind Bitcoin and the return of 'Shaq Fu'

    theverge.com 07 Mar '14, 1pm

    is a discussion of all things relevant and irreverent in the worlds of art, culture, science, and technology — and anything else that pops into the twisted minds of this week's hosts. Join Joshua Topolsky, Katie Drummond, and T.C. Sottek for a discussion on the reported uncovering of

  • Japan says Bitcoin is not a currency

    theverge.com 07 Mar '14, 5am

    According to The Wall Street Journal , the Japanese government has decided that the virtual currency isn't actually money as far as the country's regulators are concerned. That could mean that those regulators are off the hook for the collapse of Japan-based Mt. Gox, which filed for b...

  • So-called founder of Bitcoin denies starting the virtual currency

    theverge.com 07 Mar '14, 1am

    A California man who Newsweek claimed was the inventor of the popular digital cryptocurrency Bitcoin is now denying the report. Dorian Nakamoto told the Associated Press that he's not "the face behind Bitcoin," despite a claim by Newsweek that he was deeply involved with its inception...

  • Newsweek claims it's found the man behind Bitcoin

    theverge.com 06 Mar '14, 1pm

    Newsweek has published a story purporting to have uncovered the real identity of Satoshi Nakamoto, the enigmatic creator of cryptocurrency Bitcoin. A trail of investigation reportedly led to "a 64-year-old Japanese-American man whose name really is Satoshi Nakamoto," and who has "a ca...

  • Native American tribes adopt Bitcoin-like currency, prepare to battle US government

    Native American tribes adopt Bitcoin-like currency, prepare to battle US government

    theverge.com 05 Mar '14, 2pm

    The programmer and Native American activist Payu Harris raised a gavel Monday night and vigorously banged the bell to open trading at The Bitcoin Center, a meeting space for virtual currency geeks that looks like an empty art gallery in the middle of New York’s Financial District. Har...

  • After $620,000 theft, another Bitcoin service shuts down

    theverge.com 04 Mar '14, 5pm

    In the wake of Mt. Gox, a six-figure bitcoin heist has resulted in another shuttered service. This time, the service is Flexcoin, a wallet and banking service that lost 896 bitcoins to attackers , and has announced it will be unable to continue functioning after the loss. The attack e...

  • Mt. Gox files for bankruptcy protection: 90 Seconds on

    theverge.com 28 Feb '14, 11pm

    Wake up. Find a tree. Punch it. Pick up wood blocks. Make wood planks. Craft. Make crafting bench. Craft. Punch a mountain. Make sticks. Craft. Make an pickaxe. Craft. Make an axe. Craft. Make... Wake up. Find a tree. Punch it. Pick up wood blocks. Make wood planks. Craft. Make crafti...

  • Bitcoin exchange Mt. Gox files for bankruptcy protection with $64 million in liabilities

    Bitcoin exchange Mt. Gox files for bankruptcy protection with $64 million in liabilities

    theverge.com 28 Feb '14, 10am

    After weeks of speculation over its financial health, the beleaguered Bitcoin exchange Mt. Gox has filed for bankruptcy protection. A company lawyer made the announcement at an impromptu news conference held at Tokyo District Court, according to The Wall Street Journal . 850,000 bitco...

  • Mt. Gox fiasco won't kill Bitcoin

    theverge.com 26 Feb '14, 2pm

    Unfortunately for Gox and its customers, there isn’t much support for a bailout. That’s not surprising given that the ostensible founding premise of Bitcoin was freedom from the inbreeding that caused the global financial crisis and then called upon taxpayers to allay the damage. The ...

  • Nine state regulators form Emerging Payments Task Force to study Bitcoin

    theverge.com 22 Feb '14, 11pm

    Bitcoin may be thriving as a relatively unregulated currency, but governments are beginning to pay it more heed as it grows in popularity. On Thursday, a group of nine state regulators formed the Emerging Payments task force ; it is charged with studying virtual currencies and learnin...

  • Nearing $1M in bitcoin sales, Overstock CEO says he wants to 'further the cause of Bitcoin'

    theverge.com 21 Feb '14, 4pm

    For those hoping to buy real goods with bitcoin, Overstock.com is still the biggest game in town, and a new CEO profile by Forbes 's Kashmir Hill helps explain the story behind the early adoption and the company's newfound devotion to cryptocurrency. With new Bitcoin reward programs a...

  • 'Mt. Gox, where is our money?'

    'Mt. Gox, where is our money?'

    theverge.com 19 Feb '14, 4pm

    Bitcoin trader Kolin Burges started the protest last week, flying from London to seek answers about Mt. Gox's ongoing moratorium on withdrawals . Although Bitcoin's market price is volatile, the currency has nearly halved in value at Mt. Gox from $950 earlier in the month to $558 toda...

  • First US Bitcoin vending machine opens in an Albuquerque cigar bar

    First US Bitcoin vending machine opens in an Albuquerque cigar bar

    theverge.com 19 Feb '14, 3am

    A similar machine, operated by Nevada-based Robocoin, opened outside a Vancouver coffee house last year . Robocoin planned to become the first company in the United States to offer a physical, automated Bitcoin sales kiosk when it introduces its Bitcoin ATMs — which cost around $19,00...

  • First Bitcoin ATMs coming to the US this month

    First Bitcoin ATMs coming to the US this month

    theverge.com 18 Feb '14, 9am

    Following the successful launch of an ATM in Vancouver last year, Bitcoin ATM maker Robocoin will install similar machines in Seattle and Austin this month. Touted by Robocoin as the first US Bitcoin ATMs , the machines cost around $19,000 and differ slightly from regular ATMs thanks ...

  • Bitstamp restores service after targeted attack

    theverge.com 15 Feb '14, 9pm

    Bitstamp restored service to its Bitcoin exchange this morning, four days after suspending withdrawals in the wake of an attack on its network that raised new concerns about the security of digital currency exchanges. "After rigorous testing, we have restored fully automated processin...

  • Major Bitcoin company releases open source library to make it easier to build Bitcoin apps

    Major Bitcoin company releases open source library to make it easier to build Bitcoin apps

    theverge.com 14 Feb '14, 10pm

    Bitcoin, the virtual currency that approximates cash on the internet, has been around for five years now, and its popularity has soared. But although its reach has spread beyond the initial circle of very technical, very insider-y circle of cryptographers and programmers, its audience...

  • Silk Road 2 has been hacked for $2.7 million

    theverge.com 13 Feb '14, 9pm

    The second incarnation of the Silk Road has run into some trouble, with the administrator known as Defcon claiming today the site has fallen victim to a hack, and that all the associated accounts have been emptied . Judging by the blockchain records, attackers made off with roughly $2...

  • The Bitcoin bump: stores turn to virtual currency for a marketing boost

    Bitcoin bump: stores turn to virtual currency for a marketing boost

    theverge.com 11 Feb '14, 4pm

    Sapan Shah started accepting the virtual currency Bitcoin at his Subway franchise in the Philadelphia suburb of Allentown in November. Almost immediately, people began trickling in from out of state just to experience the novelty of buying a sandwich with their digital coins. Andrew T...

  • Bing gets Bitcoin converter

    Bing gets Bitcoin converter

    theverge.com 10 Feb '14, 9pm

    Bing is making it easy to find the going conversion rate for Bitcoin. As of today, Bing users in the US, UK, Canada, Australia, and India will be able to calculate Bitcoin conversions straight through its search field , just like they would when converting between any other currencies...

  • Mt. Gox blames account freeze on Bitcoin-wide vulnerability

    theverge.com 10 Feb '14, 3pm

    two days ago, spurring a selling panic and furious speculation — but now, they've finally come clean about why. In a post this morning , the team said it noticed a currency-wide vulnerability called "transaction malleability" that would allow a user to alter transaction details to mak...

  • Russia bans Bitcoin as 'money substitute'

    theverge.com 09 Feb '14, 5pm

    "Citizens and legal entities risk being drawn — even unintentionally — into illegal activity, including laundering of money obtained through crime, as well as financing terrorism," the release stated. This doesn't mean the Russian police is going to come after you for trading a few Bi...

  • Three bitcoin traders arrested in Florida on money-laundering charges

    theverge.com 07 Feb '14, 8pm

    have arrested three alleged money-launderers after a lengthy investigation into the world of face-to-face bitcoin trading, reports Krebs on Security . Working through the site localbitcoins.com, the traders arranged face-to-face meetings in which they would hand over Bitcoin wallet co...