The world of Bitcoin is being rocked by a cascade of events related to the final collapse of Mt. Gox, which a leaked crisis document says could be “the end” of the currency in the public realm for years.
Bitcoin took a fall after some bad news this week — but nothing like its notorious crashes of the past. Meanwhile, other currencies, including the lira and the peso, fell just as much.
You can buy all sorts of things with bitcoins these days — but, most of the time, there’s no real point in doing so. One start-up, however, shows that bitcoins could have a practical role in reducing costs in the real estate industry.
Bitcoin got a huge financial and symbolic boost this week with news of the biggest ever investment into a bitcoin business called Coinbase. But for the currency to last, it has to show that it can find a use beyond speculation, and that Bitcoin’s guardians can help it become a consumer product.
Why has Bitcoin has soared from its $50 post-crash low in April to over $200? The rise could reflect increased mainstream interest in the currency that has brought a newfound state of stability. (Or it could be yet another bubble).
Merchants that want to accept Bitcoin can now do so in a way that will give them piece of mind about the controversial currency’s volatility.
One of the most important moments in Bitcoin’s history came in May when Homeland Security seized an account tied to the biggest Bitcoin exchange. Now, we know how much the feds confiscated.
The Bitcoin wallet and exchange platform Coinbase has introduced zero-fee micropayments using the virtual currency. This could be a step towards a system that could support entirely new mobile and online commerce business models.
Mt.Gox, which is still the biggest Bitcoin exchange by trading volume, is now self-hosting and using Akamai’s content delivery network — but lengthy deposit and withdrawal times remain a problem.
All users of the Bitcoin exchange and wallet outfit Coinbase have to identify themselves to a degree, but those wanting to buy higher volumes at high speed now have to go through a fuller ID check.