Jun 17, 2014

Bitcoin faces biggest threat yet: a 'miner' takeover

The Bitcoin digital currency system is in danger of losing its credibility as an independent payment system because of the growing power of a group that runs some of the computers behind it. In recent weeks, a British-based “mining pool” called GHash has amassed ...

Mt. Gox workers challenged CEO

Mar 30, 2014

Mt. Gox workers challenged CEO

Two years before Mt. Gox filed for bankruptcy, a half dozen employees at the Tokyo-based bitcoin exchange challenged CEO Mark Karpeles over whether client money was being used to cover costs, according to three people who participated in the discussion. The question of how ...

IRS says bitcoin will be taxed like property

Mar 26, 2014

IRS says bitcoin will be taxed like property

Virtual currencies like bitcoin will be taxed in the United States like property — not currency, the Internal Revenue Service said Tuesday. The IRS says bitcoin is not legal tender. You can’t use it to pay your taxes. However, if you receive wages in ...

| Mar 21, 2014

Is bitcoin start of a financial revolution?

Bitcoin may not be the messiah of a new currency its hard-core fans yearn for, but it may herald the deeper financial revolution the Internet has been waiting for. While computers and smartphones have brought the Web to more than a third of the ...

Why criminals love bitcoins so

| Mar 15, 2014

Why criminals love bitcoins so

Criminals may already have made off with $500 million worth of bitcoins since the virtual currency was launched in 2009 — and you can double that if they emptied Mt. Gox’s coffers. Internet criminals, security experts say, are attracted to bitcoins because of their ...

Bankrupt Bitcoin exchange looks into criminal complaint

Mar 3, 2014

Bankrupt Bitcoin exchange looks into criminal complaint

The Tokyo bitcoin exchange that filed for bankruptcy protection blamed theft through hacking for its losses Monday, and said it was looking into a criminal complaint. In an announcement posted on the Mt. Gox exchange’s website, CEO Mark Karpeles outlined the events that resulted ...

Bitcoin believers unfazed by losses

| Mar 1, 2014

Bitcoin believers unfazed by losses

Like other bitcoin evangelists, Ken Shishido is ready to write off the money he lost in the bankruptcy of Tokyo-based virtual currency exchange Mt. Gox as the price of revolutionizing global finance. “In the early days of the automobile, there were traffic accidents because ...

Mt. Gox crash spells trouble for Bitcoin

| Feb 26, 2014

Mt. Gox crash spells trouble for Bitcoin

by Raphael Satter

The sudden disappearance of one of the largest Bitcoin exchanges only adds to the mystery and mistrust surrounding the virtual currency, which was just beginning to gain legitimacy beyond the technology enthusiasts and adventurous investors who created it. Prominent Bitcoin supporters said the apparent ...