Bitcoin

Bitcoin

Bitcoin 101: What Exactly ARE Bitcoins?

By

Members of Congress will get a crash course on bitcoin on Monday, the digital “currency” that allows users to conduct transactions online. In just five years the virtual currency has gone from being worth pennies to nearly $600 a piece. It has funded nascent democracy movements as well as a huge underground marketplace for illegal […]

Digital Wallet

Leather’s Long Gone: Smartphones and the Digital Wallet

By

Only 27 percent of store purchases were made with cash in 2011, a number that’s projected to continue declining in the future, according to the Huffington Post. Credit card transactions accounted for 66 percent of in-store purchases. It looks like plastic might soon be following cash out of store doors, however, due to the digital […]

Bitcoin

All Bitcoin Wallets on Android are Susceptible to Theft

By

Bitcoin.org released a security advisory over the weekend warning the Bitcoin community that any Bitcoin wallet generated on any Android device is insecure and open to theft. The insecurity appears to stem from a flaw in the Android Java SecureRandom class, which under certain circumstances can produce numbers that aren’t truly nondeterministic. This can allow […]

Bitcoin

Court: Bitcoin is a Currency, Can Be Regulated by United States

By

In the case of a Texas man accused of massive Bitcoin-based fraud, a federal judge has ruled that bitcoins are “a currency or form of money,” and are therefore subject to relevant US laws. The case revolves around Bitcoin Savings and Trust (BTCST), a virtual Bitcoin-based hedge fund that many suspected of being a scam. […]

Amazon Coins

Amazon Launches Amazon Coins, Gives Kindle Fire Users $5 Free

By

E-commerce leviathan Amazon is taking a step into social gaming: Amazon Coins, its new virtual currency, is now live in the U.S. To kick it off, Amazon announced that it would put $5 worth of the currency — equivalent to 500 Coins — into all Kindle Fire users’ accounts to use on apps and in-app […]