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.
Tags: Bitcoin
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.
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.
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.
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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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.
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.
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.
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.
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.
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.
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.
Virtual currencies are all the rage these days, with Bitcoin at the lead. A report on The Irish Times examined the other solutions that the digital money could provide.
The Bitcoin is doomed to fail because it is private money. This was the view expressed by Edward Hadas, the economics editor of Reuters' Breakingviews.
