Bitcoin

Bitcoin is not a currency - PayPal CEO

PayPal president David Marcus played down the factors Bitcoin obtained in recent months as a potential currency and insisted that it is rather an asset, according to a VentureBeat article.

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Less than a thousand own half of Bitcoins - report

A Business Insider report said the few hundred people who owned the digital currency Bitcoin are the ultra-rich, as estimates indicate that each owns at least $1 million worth of Bitcoins.

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Bitcoin arbitrage on China ends, highlights capital controls of mainland

A report said the price gap of Bitcoins sold on BTC China and the virtual currency on foreign exchanges had tempted some traders to take advantage by conducting arbitrage.

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JPMorgan Chase applies for US patent of Bitcoin-like payment system

JPMorgan Chase has filed an application for a payment system that is similar in many ways to the controversial Bitcoin, according to a Financial Times report.

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Cyberattacks in exchange for ransom rise because of Bitcoin- report

Bitcoin has fueled a rise in cyberattacks where computers and data are held hostage until the owner pays the ransom in the digital currency, according to a report.

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Bitcoins no longer accepted on Baidu

After the government announced a ban on the use of Bitcoin for financial institutions, China's biggest search engine Baidu Inc announced that it would no longer be accepting the digital currency as payment.

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Bitcoin extends reach to average consumers with mobile apps

The market in mobile payment or transaction apps using Bitcoin as a payment option is being fueled by a growing interest in average consumers who view payments via their smartphones as an easy way to settle their dues.

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People's Bank of China warns Chinese banks on Bitcoin trading

China's central bank the People's Bank of China (PBOC) stressed the need for its domestic banks to avoid transactions using Bitcoin and other virtual currencies and vowed that it will launch countermeasures against illegal activities using the alternative online payments.

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Bubble on Bitcoin will burst with no intrinsic currency value - Greenspan

Former Federal Reserve Chairman Alan Greenspan told Bloomberg Television today that despite the high trading value of the Bitcoin, the virtual currency holds no intrinsic currency value like with real physical money.

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College kid raises over USD20,000 via a Bitcoin sign on a televised game by ESPN

A video footage of a college game fan holding a sign that read "Hi Mom send Bitcoin" was caught by ESPN's College Gameday yesterday, with The Verge confirming on its article that the fan raised around USD22,000.

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Bitcoin fever spreads to Silicon Valley - FT

According to Financial Times, the Bitcoin fever has caught on to Silicon Valley with digital currency companies getting venture capital financing in their early rounds.

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Mt Gox releases new one-time password card for Bitcoin security

In a bid to ensure the user security of in its platform, popular Bitcoin trading exchange Mt Gox announced today that it is implementing a new one-time password card system.

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E-gold history may repeat in Bitcoin - report

A report on the Financial Times recounted the similarities of the rise, and possible downfall of the popular Bitcoin to early virtual currency favorite e-gold.

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BitPesa to challenge Western Union, money remittance players via Bitcoin

BitPesa Chief Executive Officer Elizabeth Rossiello claimed that the startup will reduce money remittances transaction costs and its turnaround time, which will challenge major players Western Union and MoneyGram International Inc.

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Advocate, skeptic share views on the future of Bitcoin-report

Bitcoin advocate Mike Hearn and skeptic Dr. Stephen Kinsella shared their opposing views on the future role of the digital currency in a BBC News report.

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