Some of Bitcoin enthusiast Mike Caldwell's coins are pictured at his office in this photo illustration in Sandy, Utah, January 31, 2014.
Breaking News
Bitstamp and BTC-E paused Bitcoin withdrawal from their exchanges starting last week because of a potential glitch but have already resumed withdrawals while Mt Gox, the biggest Bitcoin exchange, still remains closed until now.
The uncertainty of the US government on what to do with the Bitcoins it has confiscated from the Silk Road raid in October last year has already cost it paper losses amounting to $31 million, The New York Post reported.
With Bitcoin encountering a series of problems lately, including withdrawal halting of exchanges, a $2.7 million heist, and a flaw in the Bitcoin protocol, speculations abound that the Bitcoin is coming to an end soon.
Marc Andreessen, venture capitalist and founder of Netscape, is optimistic that tech is already recovering from the 2008 financial crisis and that it has decades of growth ahead, TechCrunch reported.
A massive cyber attack from unknown sources that has been spamming bitcoin exchanges is highlighting some of the dangers people can encounter when they exchange cash for digital currencies like the bitcoin, experts said on Wednesday.
Governor Raghuram Rajan of the Reserve Bank of India has reiterated concerns about the stability and credibility of virtual currencies like the Bitcoin, TechCrunch reported.
The biggest Bitcoin exchange Bitstamp has temporarily halted processing withdrawals because of a denial-of-service attack but assured users that no funds have been compromised, TechCrunch reported.
The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected "unusual activity."
The Central Bank of Russia echoed its statement that the Ruble is the country's official currency, and being a money substitute, Bitcoin is now banned because it is reportedly used in illegal activities.
Alleged Silk Road operator Ross William Ulbricht will have a November 3 trial date after pleading not guilty in a Manhattan federal court, Bloomberg reported.
State authorities in Florida have arrested and filed charges against three individuals who they alleged were doing illegal operations involving substantial amounts of Bitcoins, Krebs on Security reported.
The value of digital currency Bitcoin plunged 21% to $619 from $783 after Tokyo, Japan-based exchange paused its trading because of an increase in withdrawal requests.
New Bitcoin startup investor Ben Horowitz of US-based venture capital firm Andreessen Horowitz and Bitcoin skeptic Felix Salmon made a bet against each other on the status of the digital currency as a payment mechanism by 2109.
Startups that intend to give Bitcoin investors protection from losses arising from hacking and theft have emerged from the phenomenal rise of the digital currency, Bloomberg reported.
