Monthly Archives: March 2014

Western Union CEO weighs in on virtual currencies

Posted on 18th March, 2014

In the first of a three-part series on CNN’s Fortune blog, Western Union CEO Hikmet Ersek discusses virtual currency from his company’s point of view. Given that bitcoin and other virtual currencies are often presented as extraordinarily disruptive technologies for the traditionally stable money-transfer business, it’s only natural for the hardly technophobic Ersek to weigh […]

Dorian Nakamoto hires lawyer, claims his ability to work harmed by Newsweek

Posted on 18th March, 2014

If Newsweek magazine is correct, Dorian Nakamoto is not the financially struggling 64-year-old engineer he appears to be. He’s actually the genius cryptographer, mathematician and software designer behind the Bitcoin protocol, and his struggles with both money and the English language are merely a ruse. His repeated insistence that he is not Satoshi Nakamoto is […]

Mt.Gox resumes access to user database

Posted on 18th March, 2014

In an update published yesterday on the Mt.Gox website, customers of the now-bankrupt exchange are now able to log in and view their account information. The interface appears to be a simple query system for the same database released by hackers earlier this month, and is currently limited to account balance information. Given the history […] down due to database glitch

Posted on 18th March, 2014

Through all of the turbulence around bitcoin in the last few months, the public block chain database at has been a rare bastion of stability. Late last night, however, a user on Reddit encountered a glitch in the Blockchain Shared Coin service, which quickly caught the attention of Blockchain developers. In investigating the Shared […]

Indonesia beta testing new exchange

Posted on 17th March, 2014

As bitcoin adoption rages across China, other countries in southeast Asia are slowly wading into the cryptocurrency pool as well. Earlier this week, Bitcoin Indonesia announced that its homegrown exchange had grown to a daily volume of 30 BTC, six times its trading volume in December. While that volume is admittedly humble, Indonesia is also […]

Japanese banking giant Mizuho added to Mt.Gox lawsuits

Posted on 17th March, 2014

Two lawsuits against bankrupt bitcoin exchange Mt.Gox added Japanese “megabank” Mizuho as to their filings on Friday. According to both suits, one in the U.S. and the other in Canada, the lack of due diligence by the bank was an inherent part of the alleged three-year fraud at Mt.Gox. As Mt.Gox’s bank, Mizuho held most […]

Bitcoin Vs. Berkshire: The $630,000 bet

Posted on 17th March, 2014

When Warren Buffett warned investors to “stay away” from the “mirage” of bitcoin on Friday, he probably didn’t realize that he was throwing down a gauntlet to cryptocurrency investors everywhere. The iconic brain behind Berkshire Hathaway’s success doesn’t see bitcoin as anything other than a “very fast money order,” and not as a highly disruptive […]

OKCoin secures $10 million in funding, aims to become China’s largest exchange

Posted on 16th March, 2014

Even with official bitcoin policy in China ranging from skeptical to hostile, venture capitalists and angel investors don’t see to be very concerned about the future of cryptocurrency in the country. This week, Chinese exchange OKCoin announced it had raised $10 million in investment funding from Ceyuan, Mandra Capital, VenturesLab and other VC groups. The […]

Bitcoin Stock Roundup: rebounds, first Neo update this week

Posted on 16th March, 2014

Thanks to a largely unexplored market and effectively zero regulation, the number of bitcoin-related businesses has surged in the last year. While most of the media attention seems to go to startups wooing millions of dollars away from venture capitalists, there’s also a growing trend of bitcoin-based companies who accept trades of BTC for shares […]

Iceland’s parliament goes behind closed doors to discuss Auroracoin

Posted on 15th March, 2014

Earlier this month, Auroracoin caught the attention of the cryptocurrency community when it briefly passed Litecoin in value, becoming the third most valuable virtual currency on circulation. This sudden spike in value also caught the attention of another group: Iceland’s banking regulators, central bankers and Iceland’s parliament, the Althing. Yesterday, the Althing’s Economic Affairs and […]