Monthly Archives: March 2014

With just under 4% of Auroracoin “airdrop” complete, price rebounds

Posted on 26th March, 2014

When the Auroracoin “airdrop” began yesterday, things did not look promising for the Icelandic alt-coin. A crush of users trying to claim their coins effectively caused DDoS attack on the site, and other technical glitches resulted in the site falling to the bottom of alt-coin value tracking site Coinmarketcap, landing just above CorgiCoin. And to […]

Circle raises $17 million, announces new wallet and exchange

Posted on 26th March, 2014

Boston-based bitcoin startup Circle has always been a little vague about what exactly it is they’re building. The company’s website has rarely provided more detail than “building digital currency products that make money simpler, safer, and more powerful,” prompting no end of speculation about what kind of service Circle would eventually provide. Are they a […]

IRS declares bitcoin to be property, not currency

Posted on 25th March, 2014

After months of speculation, the Internal Revenue Service has released new rules for including bitcoin in annual tax filings (PDF). According to the rules, bitcoin is to be handled as a form of property, rather than currency, meaning bitcoin itself is to be treated like a stock. This puts many bitcoin buyers in the awkward, […]

Walmart now indirectly accepting bitcoin via Gyft

Posted on 25th March, 2014

Mobile gift-card app provider Gyft had pulled something of a retail-store coup, officially adding retail giant Walmart to its merchant list. This slightly indirect buying method means that bitcoin-bearing shoppers can use their cryptocurrency at all Walmart and Sam’s Club locations in the U.S. (roughly 5,000 locations), although it is not clear if the cards […]

Auroracoin’s “airdrop” causes site crashes and other technical woes

Posted on 25th March, 2014

In the world of bitcoin-variant cryptocurrencies, few experiments have gained as much attention as Auroracoin. The Icelandic alt-coin was designed to offer a viable alternative to the nation’s long-troubled domestic currency, the krona, which has massively devalued in recent years. One key part of the plan to launch Auroracoin is the so-called “airdrop” of half […]

Cryptocurrency-mining malware spreads on Linux machines

Posted on 24th March, 2014

A new version of malware worm is causing headaches for Linux users across the internet. Last year, Symantec identified a PHP-exploiting worm called “Linux.Darlloz” which was popping up on non-PC Linux devices like routers and security cameras. The worm was a security specialist’s nightmare, but most vulnerable devices could be easily patched with a simple […]

CFTC-approved bitcoin swaps may soon be approved

Posted on 24th March, 2014

Bloomberg reports that the Tera Group Inc. is seeking approval of a legal framework to allow bitcoin swaps. The derivative device would allow investors to trade payments based on the performance of bitcoin versus that of an established fiat currency. The terms for a multimillion dollar swap between two U.S. institutions is planned to hedge […]

BTC exchange Kraken passes audit, all customer coins held in reserve

Posted on 24th March, 2014

The first generation of bitcoin exchanges had it easy. Users were so happy to have a place to buy and sell bitcoin, that they didn’t worry too much about how those businesses actually operated, whether or not they were secure, or even if the user funds were really all accounted for. The situation at Mt.Gox […]

Australia’s Diamond Circle unveils cashless bitcoin ATM

Posted on 24th March, 2014

Bitcoin ATMs all share a similar problem: They require cash. Customers pay in cash to receive bitcoin (either in a QR code-based transaction or a receipt-like paper wallet), or they pay in bitcoin to withdraw cash. For a currency that was born on the internet, relying on cash and paper to do business is a […]