Today in Bitcoin-related news
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Today in Bitcoin-related news
Mainly about Bitcoin and finance but with a slightly comedic treatment.
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Trading Site Failure Stirs Ire and Hope for Bitcoin

Trading Site Failure Stirs Ire and Hope for Bitcoin | Today in Bitcoin-related news | Scoop.it

With one of its earliest marketplaces gone, the world of virtual currency may have to to become a more mature part of the financial system.

John Harry Nightingale's insight:

Another article (sent to me by one of my professors) and video debating about the need for more regulation or not in the Bitcoin universe and is the recent shutdown of Mt. Gox to blame on the currency or poorly managed infrastructure.

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Apparent Theft at Mt. Gox Shakes Bitcoin World

Apparent Theft at Mt. Gox Shakes Bitcoin World | Today in Bitcoin-related news | Scoop.it
The prominent Bitcoin exchange was said to be on the verge of total collapse following a major theft, even as another company announced plans for a high-profile virtual currency market.
John Harry Nightingale's insight:

According to the article a main Bitcoin exchange may go bankrupt soon due to security failure. Security is often highlighted when Bitcoin flaws are talked about. But I think it's more linked to our cyber-network than the currency itself. Bitcoin is not safer than change in a bank but nor a file in a computer.

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Bitcoin ATMs coming to the U.S.

Bitcoin ATMs coming to the U.S. | Today in Bitcoin-related news | Scoop.it
Bitcoin, the emerging if still somewhat mysterious digital currency, may be coming soon to a high-tech ATM near you.
John Harry Nightingale's insight:

An example of a restaurant that uses Bitcoin. It's still a marginal phenomenon though.

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BitInstant CEO Charlie Shrem Arrested for Alleged Money Laundering | TIME.com

BitInstant CEO Charlie Shrem Arrested for Alleged Money Laundering | TIME.com | Today in Bitcoin-related news | Scoop.it
The Bitcoin big shot was arrested at John F. Kennedy International Airport in New York City on Monday
John Harry Nightingale's insight:

Sorry same picture as the previous article. For those who made it this far without being confused this article is precisely about what I think deter so many investors from investing in Bitcoin: legal uncertainty.

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Why Economists Are Right to Hate on Bitcoin | TIME.com

Economist Paul Krugman is not one to shy away from a good fight, but he may have vexed his most passionate opponents yet last week with a blog post titled "Bitcoin is Evil." Krugman's title is tounge-in-cheek.
John Harry Nightingale's insight:

A quite provocative title for an article that basically explains the reason why Bitcoin is suspiciously regarded by economist is because it cannot store value yet.

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Time to take the Bitcoin bubble seriously - FT.com

Time to take the Bitcoin bubble seriously - FT.com | Today in Bitcoin-related news | Scoop.it
The moment has come to take Bitcoin seriously. This month has seen notes on the online currency from mainstream foreign exchange analysts at Wall Street banks Citi and BofA Merrill Lynch.
John Harry Nightingale's insight:

According to the FT it's getting real for Bitcoin. Goverments and other digital currencies are after it. Future seems very uncertain.

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FINANCE PROFESSOR: Bitcoin Is A Hyper Bubble Fueled By A Get-Rich-Quick Mindset

FINANCE PROFESSOR: Bitcoin Is A Hyper Bubble Fueled By A Get-Rich-Quick Mindset | Today in Bitcoin-related news | Scoop.it
Bitcoin is not backed by anything and has no underlying value.
John Harry Nightingale's insight:

Another "Ponzi scheme"; no the author is not Rick Perry and the article is not about Social Security.

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What is Dogecoin? The Meme that Became the Hot New Virtual Currency

What is Dogecoin? The Meme that Became the Hot New Virtual Currency | Today in Bitcoin-related news | Scoop.it
As the year of bitcoin comes to an end, David Gilbert investigates the next big crypto-currency - Dogecoin
John Harry Nightingale's insight:

This one is not about Bitcoin properly speaking but it is a good example of how far cryptocurrencies have gone even taking Doge with them. Wow very interest!

 

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FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014

FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014 | Today in Bitcoin-related news | Scoop.it
Single digit pricing reflecting its option value as a pure commodity play.
John Harry Nightingale's insight:

The author has a  pretty negative view of Bitcoin and its potential effects. It could "lower individual standard of living" and has a "flawed DNA" according to him. It will also prevent us from winning the war, put the communists in power and make the bedbugs bite. Watch out! It could  be said that some people just don't get this new currency but his predictions are quite precise. Only time will tell who is right.

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Freakonomics » What Does the Mt. Gox Meltdown Mean for Bitcoin? Maybe Not Much

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John Harry Nightingale's insight:

A piece of interview by Stephen J. Dubner (co-author of Freakonomics with Steven Levitt) of Marc Andreessen about the recent "meltdown of Mt. Gox". They show the silver lining of these recent events.

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The great hiccup

The great hiccup | Today in Bitcoin-related news | Scoop.it

A IN MOST businesses, a small coding error is a minor problem. With Bitcoin, an online “cryptocurrency”, a fairly simple flaw seems to have cost $5.3 billion. That...

John Harry Nightingale's insight:

A flaw in Bitcoin's code was recently discovered and made the currency  plunge all across the world. According to the article it won't be fatal. But this issue yet again highlights the currency's security drawbacks.

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Bitcoin price drops as Mt. Gox exchange closes indefinitely

Bitcoin price drops as Mt. Gox exchange closes indefinitely | Today in Bitcoin-related news | Scoop.it
Bitcoin has plunged more than 8 per cent after a Tokyo-based exchange halted withdrawals of the digital currency, citing technical malfunction.
John Harry Nightingale's insight:

Another slump in Bitcoin price. As the article highlights, the U.S. needs a domestic-based exchange.

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Bitcoin Solves a Huge Problem for the Global Economy

Bitcoin Solves a Huge Problem for the Global Economy | Today in Bitcoin-related news | Scoop.it
Everyone’s talking about the fast growing digital currency Bitcoin. Jamie Dimon hates it, Marc Andreessen loves it, and Alan Greenspan thinks it’s a bubble with no intrinsic value.
John Harry Nightingale's insight:

A more measured article about Bitcoin. Arguments remain the same but the expected outcome for the currency is less doomy than some might think.

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Programmer Robert McNally Put Together An Awesome Presentation On What Bitcoin Really Is

Programmer Robert McNally Put Together An Awesome Presentation On What Bitcoin Really Is | Today in Bitcoin-related news | Scoop.it
What Is Bitcoin
John Harry Nightingale's insight:

A good preview about what Bitcoin is. I'd like to thank one of my fellow colleagues for finding and sending it to me.

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JPMorgan jumps in

JPMorgan jumps in | Today in Bitcoin-related news | Scoop.it
THERE is some interesting news from JPMorgan Chase today: the bank has filed for a patent for an online payment system that sounds rather like Bitcoin, the...
John Harry Nightingale's insight:

A big investment bank gets into cryptocurrencies.

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Don't fight it. Bitcoin has a bright future

Don't fight it. Bitcoin has a bright future | Today in Bitcoin-related news | Scoop.it
Bitcoin has a bright future, say tech gurus, executives and investors who predict the digital currency will grow in power and importance in the coming years.
John Harry Nightingale's insight:

A little more optimistic article than the first one. And you can get Ron Paul's opinion about Bitcoin as a bonus!

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