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Brisbane Jerky Business Enjoys Bitcoin-Fueled Business Growth Bitpay Now Boasts Over 26,000 Merchants

Brisbane Jerky Business Enjoys Bitcoin-Fueled Business Growth

BILTONG company Jim’s Jerky is believed to be the first business in Brisbane to start taking direct debit payments with Bitcoin. Users of the digital currency can now swipe a special Coinkite, similar to a regular debit card, to pay for the Queensland company’s high protein products. Bitcoin enthusiast Matt Tanner, who manages a Jim’s […]

eBay Creates New Product Category for Digital Currencies

E-commerce giant eBay has added a ‘virtual currency’ section to its main US site, enabling users to buy and sell digital currencies like bitcoin, as well as mining contracts and mining equipment. The company earlier included the section in its category changes list for April under ‘Coins and Paper Money’. EBay is still not accepting […]

Bitcoin for Small Business: House Weighs Pros and Cons

Are the benefits of accepting bitcoin payments worth its risks? It’s not just businesses that are curious about accepting bitcoin as a form of payment. The government is all ears, too. On Wednesday (April 2, 2014), the House Small Business Committee conducted its first-ever hearing on the cryptocurrency. The hearing examined the benefits and risks […]

Security Key to Bitcoin Success

SAN FRANCISCO – BITCOIN’S future may not rely on stabilizing its price swings or signing up more merchants to accept the virtual currency. Rather, it may rely on its image. In the last few months, the value of Bitcoin has been cut in half, in the face of questions about security issues and concerns about […]

US IRS: Bitcoin is Legally Property

The news that bitcoin is to be treated as property by the IRS has sparked fear among fans of the cryptocurrency. But many of the concerns are overblown. America’s Internal Revenue Service ruled on Tuesday that bitcoin should be treated more like stock than cash. On the one hand, that means that people who buy […]

Flawed IRS Guidance: Bitcoin is to be treated as property – not currency

The Internal Revenue Service (IRS) has finally released its guidance on how Bitcoin should be treated for tax purposes – and it’s bound to make the digital currency harder to use. The IRS has decided that Bitcoin is to be treated as property – not currency – for the purposes of taxation. That’s good news […]

Painting Sold for 200 Bitcoins ($125000) by German Artist

The one-of-a-kind artwork, which depicts the currency symbol of controversial crypto-currency, Bitcoin, was sold to a Seattle internet entrepreneur earlier this month. Paid for using the peer-to-peer payment system itself, the price was not disclosed. The face value at the time of sale, however, was approximately $125,000. “200 Bitcoins”, a piece comprising of 200 individual […]

Investments See Bitcoin Gains

The demise of Mt.Gox has been met with the launch of Bitcoin’s Ft. Knox and the establishment of new proprietary exchanges from institutional investment trading platforms as investors attempt to right the ship of the stateless currency. Having large institutional investors like Fortress Investments and Benchmark certainly helps the beleaguered currency (or is it a […]

Warren Buffet Wrong on Bitcoin

Warren Buffett said bitcoin “is a mirage” and compared it to checks and money orders. “A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? … The idea that [bitcoin] has some huge intrinsic value is just a joke […]

Hedge Funds Buy Stake in Pantera Bitcoin

Several prominent investment firms are joining forces to buy stakes in one of the biggest Bitcoin operations in the world. The publicly traded New York private equity and hedge fund firm Fortress Investment Group and two other investors are buying a stake in Pantera Bitcoin Partners, a San Francisco-based hedge fund operator that buys and […]

Underground Vaults for Bitcoin?

BITCOIN was supposed to be a frictionless digital currency that required no banks or intermediaries. Yet a raft of bitcoin thefts at exchanges like Mt.Gox is raising the question of whether the sophisticated currency still needs the same sort of physical security infrastructure — impenetrable steel vaults, armed security guards, and even paper ledgers — […]

Bitcoin Faithful Optimistic About Future

AT Sydney’s Bitcoin Barcamp conference on Saturday, a mixture of libertarians, entrepreneurs and traders gathered to proclaim the future is virtual currency. Mt Gox, Bitcoin’s biggest exchange that lost $US567 million of customer assets, or Silk Road, the web site that allows narcotics to be bought and sold using bitcoins, were not discussed at the […]

Australian Tax Office Declare Bitcoin Taxable and Subject to GST

The Australian Tax Office (ATO) has provided businesses with some more guidelines on how it intends to deal with bitcoin, stating that income and profits derived from bitcoin transactions are taxable. The letter, sent to an Australian bitcoin entrepreneur in response to a request made last June, was a private ruling to specific questions and […]

US Commodity Futures Trading Commission (CFTC) looking at Bitcoin Regulation

With bitcoins and other crypto-currencies gaining popularity and greater acceptance across the globe, the world’s leading economy is considering regulating it. Commodity Futures Trading Commission (CFTC) Acting Chairman Mark Wetjen has told journalists that the regulator is looking into how it can increase oversight of bitcoin and other electronic currencies. Bitcoin has been prominently in […]

Bitpay Now Boasts Over 26,000 Merchants

Bitcoin payment processor BitPay continues its rapid growth as more and more businesses turn to bitcoin to solve challenges presented by the traditional financial system (exorbitant fees charged by credit card processors, for example). The Atlanta-based company announced on Tuesday that they’ve surpassed 26,000 approved merchants. An impressive number, certainly, and it comes almost six […]

The Bitcoin phenomenon – Phillip Adams Late Night Live Podcast

Bitcoin is “the internet of money” and currency is just the first Bitcoin invention. It can be used to buy good and services by transferring them electronically across the internet and the technology used is a combination of several innovations, arranged in a novel way. But how open is Bitcoin to deflation and how realistic […]

Bitcoin ATMs Coming to Brisbane

BRISBANE will soon have its first automatic teller for the internet currency bitcoin. An Automatic Bitcoin Machine will be established in the CBD to allow members of the public to deposit cash in exchange for digital bitcoin. At a launch event on George St on Monday night it was revealed that the ABM, developed by […]

First Irish Pint Bought with Bitcoin

The first pint — a bottle of Kopparberg cider to be more exact — has been purchased in Ireland using bitcoin, with staff at the Baggot Inn in Dublin revealing that it was quickly followed by a flurry of other Bitcoin booze buys. Chris Healy, marketing and events manager at the Baggot St pub, said […]

Congressman’s Cheeky Response to Bitcoin Ban Plea

06 March 2014

Congressman Jared Polis is calling on the Treasury to ban physical dollars in response to Senator Manchin’s plea to ban Bitcoin. “The exchange of dollar bills, including high denomination bills, is currently unregulated and has allowed users to participate in illicit activity, while also being highly subject to forgery, theft, and loss,” wrote Polis in […]

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The Mysterious World of Bitcoin

06 March 2014

BITCOIN. It’s the confusing crypto-currency beloved by tech geeks and criminals that was supposed to be the future of money. But five years after it was founded by Satoshi Nakamoto in Japan, a major mystery is unfolding inside the secretive world. Websites have been hacked, half a billion dollars is missing, global finance ministers are […]

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Japan Government to Clarify Bitcoin Stance

06 March 2014

JAPAN’S government is set to clarify its view on virtual currency in the wake of the collapse of Tokyo-based bitcoin exchange Mt.Gox, officials said, though they appeared no closer to declaring a specific agency in charge of overseeing bitcoin. People familiar with a draft being prepared for a cabinet meeting on Friday say the government […]

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Winklevoss Twins Off To Space With Bitcoin

06 March 2014

Big bitcoin backers the Winklevoss brothers have used the virtual currency to buy tickets into space on Richard Branson’s Virgin Galactic aircraft. Brushing off a rise in doubts over the viability of the crypto-currency, the tycoon twins said they were following in the footsteps of great adventurers such as Ferdinand Magellan and Edmund Hillary in […]

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Bitcoin Starts Recovery after MtGox Fiasco – Briefly Touches $710

05 March 2014

After trading in a range for the past few days, bitcoin prices staged a breakout today hitting a high of $710 on BitStamp before pulling back. On BTC-E, the highest high reached today stands at $686.99. One bitcoin is currently trading at $643 on BTC-E, this compares to $682 on BitStamp. In some good news […]

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Precious Metal or Crypto-currency? The Libertarian Choice

05 March 2014

Since bitcoin became ubiquitous in libertarian circles over the past year or two, the question has now become: what is the best alternative to government-issued fiat money? Gold and silver or bitcoin and litecoin? The answer depends on who one speaks with. One libertarian will say gold is true money and has been around for […]

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Keiser Report on Bitcoin

04 March 2014

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Jon Corzine of bitcoin trying to concern troll his way into a bailout and failing. And while 6 percent of all bitcoins allegedly went missing via Mt. Gox, every year 3 percent of China’s GDP goes missing into property and bank […]

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Pommy Tax Office Announces No VAT on Bitcoin Purchases

04 March 2014

Britain’s tax authority is to stop charging value-added tax (VAT) on Bitcoin transactions. It’s just a couple of days after one of the world’s biggest exchanges Mt. Gox collapsed, which has added to growing worldwide skepticism about the currency. In a meeting with UK traders, HM Revenue & Customs said it would no longer charge […]

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Goldman Sachs Neutral on Bitcoin

22 February 2014

The eye of big finance is finally turning towards cryptocurrency. Responding to requests from clients, Goldman Sachs has put out an early assessment of Bitcoin that says little about the bank’s official position on BTC investment. So far, the financial services firm is neutral regarding the currency and is not actively recommending it to clients […]

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Bill Gates: Digital Currencies Help World’s Poor

11 February 2014

After the weekend’s 20 percent plunge and Monday’s flash crash, columnists and pundits discussed the idea that this is the end of bitcoin (BTC) and the cryptocurrency market. Bitcoiners scoffed at the notion because it’s a four-year-old currency and electronic payment system and there is still a lot of work to be done. Yahoo! Finance, […]

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