Archive for the mining Category

China, Bank of America weigh in on Bitcoin

China, Bank of America weigh in on Bitcoin

05 Dec 2013 / USA Today – Two major financial players, China’s central bank and the Bank of America, weighed in Thursday on opposite sides on the viability of the wildly popular virtual currency Bitcoin. The price of a Bitcoin fell below $1,000 after China’s central bank

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Ron Paul: Bitcoin could ‘destroy the dollar’

Ron Paul: Bitcoin could 'destroy the dollar'

04 Dec 2013 / CNN Money – Imagine a world in which you can buy anything in secret. No banks. No fees. No worries inflation will make today’s money worth less tomorrow. The digital currency Bitcoin promises all these things. And while it’s far from achieving any

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What Is Beijing’s Rationale For Promoting Bitcoin?

What Is Beijing's Rationale For Promoting Bitcoin?

03 Dec 2013 / Forbes – There are several reasons for giving it higher visibility; most recently I’ve noticed that China Telecom CHA -1.26%, a Chinese state-owned enterprise (SOE) is accepting bill payments in Bitcoin. Here are some of the reasons: China’s economy is too slanted to

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Fascinating Number: Bitcoin Mining Uses $15 Million’s Worth Of Electricity Every Day

Fascinating Number: Bitcoin Mining Uses $15 Million's Worth Of Electricity Every Day

03 Dec 2013 / Forbes – Via Marginal Revolution we find the page of Bitcoin statistics. And there we are told that mining bitcoins currently consumes some $15 million’s worth of electricity each day. Which is, when you come to think about it, really a rather astonishing

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China’s Largest Bitcoin Exchange Seeks Recognition for Currency

03 Dec 2013 / Bloomberg – BTC China, the nation’s largest Bitcoin exchange, has had low-level discussions with regulators seeking recognition of the digital currency that would allow it to be used to buy goods and services in the country. The company has sought to discuss Bitcoin

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Banking on Bitcoin

Banking on Bitcoin

02 Dec 2013 / Ren Gazzette-Journal – An online travel agency in Los Angeles and a European private university have begun accepting payments in the popular virtual currency known as Bitcoin, a sign that businesses are moving into a new global economic era. CheapAir.com, an online travel

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At Least 54 Bitcoin Clones Have Been Created Since April

At Least 54 Bitcoin Clones Have Been Created Since April

02 Dec 2013 / Business Insider – At least 54 different digital currencies have been created in the past seven months. That’s according to CoinWik.org, a Wiki site tracking digital currencies. The most recent is Asicoin, born on Sept. 11. It’s advertised as a coin designed just

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Bitcoin’s $13.50 To $1,200 Eleven Month Climb—Now Taxes

Bitcoin's $13.50 To $1,200 Eleven Month Climb---Now Taxes

02 Dec 2013 / Forbes – Even if you weren’t intrigued by other aspects of the rock star digital currency, it’s hard to argue with over 5,000% appreciation in less than a year. The Wall Street Journal asked Should You Invest in Bitcoin? and printed a WSJ special

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Today’s Strange Bitcoin Idea, The Gold Backed Bitcoin

Today's Strange Bitcoin Idea, The Gold Backed Bitcoin

01 Dec 2013 / Forbes – This particular idea rather has me scratching me head as I can see a small publicity value to this idea and no other practical one at all. The idea being to produce physical bitcoins that are partially gold. That sounds like

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Bitcoin bubbles but will it burst?

Bitcoin bubbles but will it burst?

Nov 29 2013 / RT – After more than quadrupling in one month, many question whether bubble trouble is looming for bitcoin. Like it or loathe it, bitcoin is an entity of extremes. Not merely its value oscillations but also the vehemence with which its acolytes support

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