Could Bitcoin actually be worth around $50,000? A story on CNN Money by Fortune‘s David Z. Morris suggests that this might not be too far off. Speaking with Susan Athey, professor of economics at the Stanford Graduate School of Business, Morris notes that Bitcoin is only a few steps away from having that valuation. Morris…
How bad have the recent Bitcoin price drops been for the overall market? Not as bad as they would have been six months ago, according to a report from investment firm Wedbush Securities. The 16-page report, titled ‘Bitcoin: Watch the Innovation, Not the Price,’ claims that the Bitcoin market has actually shown a surprising resilience…
In August of 2013, the Bank of Thailand released a strongly worded letter explaining that Bitcoin was an “illegal” form of currency in the country. Even though Thailand’s central bank lacked the authority to actually make trading in Bitcoin a crime, the disapproval was strong enough that public trading in Bitcoin was effectively halted in…
Although Swedish Bitcoin exchange Safello is relatively new to the European market, it appears to have gained the attention of some major investors. Notable Bitcoin venture capitalists Erik Voorhees, Roger Ver and Blockchain.info CEO Nicolas Cary recently signed deals to provide some $600,000 to the company, which has only been active since August of 2013….
Yesterday, the Obama administration announced new guidelines allowing the banking industry to do business with legal marijuana sellers. While this is clearly a game changing moment for the mainstream financial sector, the implications for the growing Bitcoin market will also be significant. To understand why, it’s worth remembering that Bitcoin first entered the mainstream consciousness…
According to a recent infographic report in the MIT Technology Review, “hoarded” Bitcoins account for only a tiny fraction of the overall volume of the currency. The overwhelming majority of newly mined coins are spent within 24 hours, the report says, casting doubt on the relevance of the 2012 reports claiming that 78% of the…
Only yesterday, we reported about the growing disparity between the value of a Bitcoin on Mt.Gox versus that same Bitcoin on any other exchange. Today’s prices have only amplified this trend, with trades on Mt.Gox reaching a recent low of $302, even as the price hovered well above $600 on most of the other major…
Earlier this week, citing the massive DDoS attack on Bitcoin infrastructure, Bitstamp halted all withdrawals from customer accounts. That freeze on customer accounts appears to be ending, as Bitstamp recently announced via Twitter and their website that they’ll be resuming withdrawal processing later today. Speaking with CoinDesk, Bitstamp CEO Nejc Kodrič says his team has…
Inspired by the recent three-day “sit in” protest at the Mt.Gox offices by Australian Bitcoin activist CoinSeacher, Kolin Burges decided to take action as well. The London-based software developer moved his holdings in Litecoin to Mt.Gox at the end of last year, only to see his funds completely frozen earlier this month. Fed up with…
According to a report from the International Business Times, London will soon be receiving its first Bitcoin ATM. Global Bitcoin ATM’s spokesperson claims that the machine is being updated with new software and going through compliance testing before shipping to the U.K. capital. Coindesk reports that London may soon see a boom of Bitcoin-trading ATMs…