51 posts tagged with bitcoin.
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Bitcoin for Banks

Nine of world's biggest banks join to form blockchain partnership.
"We held several roundtables...to deeply consider what the possible implications of the blockchain were, and what it could possibly do to save money, and time, and to create a better paradigm for the world of Wall Street and finance," Rutter told Reuters on Tuesday. Those that have signed up to the initiative so far are JP Morgan, State Street, UBS, Royal Bank of Scotland, Credit Suisse, BBVA and Commonwealth Bank of Australia.
posted by clawsoon on Sep 16, 2015 - 69 comments

You're gonna need a bigger block.

Bitcoin's forked: chief scientist launches alternative proposal for the currency [more inside]
posted by tonycpsu on Aug 18, 2015 - 87 comments

Ethereum Launched

In case you missed it Ethereum announced its first developer release a week ago. What is Ethereum? According to the video it's a "planetary scale computer powered by blockchain technology." Given the breathlessness, some skepticism is in order, but what if it purports to do on the tin is true? [more inside]
posted by kliuless on Aug 7, 2015 - 57 comments

Bitcoin is unsustainable

Bitcoin is unsustainable Bitcoin's power usage per transaction isn't remotely sustainable as a wholesale replacement for the conventional financial system. [more inside]
posted by modernnomad on Jul 2, 2015 - 82 comments

The Untold Story of Silk Road

The Untold Story of Silk Road: Part 1. Part 2.
posted by pravit on May 17, 2015 - 24 comments

Will the real Bitcoin creator please stand up?

Is a reclusive American man named Nick Szabo the real Satoshi Nakamoto? Nathaniel Popper of the NYT tracks him down and asks him.
posted by (Arsenio) Hall and (Warren) Oates on May 16, 2015 - 20 comments

Bitcoin done (or at least demo'd) Right

...MIT Media Lab announced the launch of the Digital Currency Initiative. The goal of this initiative is to bring together global experts in areas ranging from cryptography, to economics, to privacy, to distributed systems... previously previously-er more-previously more-er-previously oh-heck-kittens-in-boxes
posted by sammyo on Apr 20, 2015 - 34 comments

Bank of the Underworld

Liberty Reserve was like PayPal for the unbanked. Was it also a global money-laundering operation? By Jake Halpern at The Atlantic (previously).
posted by valkane on Apr 20, 2015 - 3 comments

Bitcoin Brawl

The Race to Replace Bitcoin
An epic battle between two bitcoin 2.0 contenders grips the crypto world
posted by andoatnp on Mar 27, 2015 - 84 comments

BitchCoin conforms to both Chartalist and Metallist readings

What is BitchCoin?
BitchCoin is a digital currency backed by the photography of Sarah Meyohas at a fixed exchange rate of 1 BitchCoin to 25 square inches of photographic print. This rate of exchange will not change, even if the value of the photography increases. As her work changes in value over time, so will the relative value of BitchCoin. [more inside]
posted by Potomac Avenue on Feb 9, 2015 - 15 comments

Jailed pirate Roberts

Ross Ulbricht AKA "The Dread Pirate Roberts" has been convicted on all seven charges for creating and operating Silk Road. It only took the jury three and a half hours to reach a verdict. He faces a minimum of 30 years in prison (maximum of life).
posted by Chocolate Pickle on Feb 4, 2015 - 80 comments

what is a 'robot,' anyway?

The Random Darknet Shopper is an art piece by !MEDIENGRUPPE BITNIK for the exhibtion From Memes to Onionland. So the bot bought 10 pills of Ecstasy (among other things in the name of art and got 'arrested' by the Swiss police. So what happens when a bot gets 'arrested?' It seems robots are starting to break the law and nobody knows what to do about it. [more inside]
posted by the man of twists and turns on Jan 23, 2015 - 29 comments

Who is Dread Pirate Roberts?

The trial of supposed Silk Road chief Ross Ulbricht is now underway. His defense rests on the claim that while Ulbricht did found Silk Road as an experiment, he relinquished control a number of years ago and is now the "fall guy" for those who were truly in charge. According to Ulbricht's defense, he was not Dread Pirate Roberts, and that there may be a number of other people who were. One of those possible operators? According to a DHS agent who took the stand yesterday, it could have been Mt. Gox CEO Mark Karpelès.
posted by (Arsenio) Hall and (Warren) Oates on Jan 16, 2015 - 36 comments

Still not a good idea to keep money in a bitcoin exchange.

Bitstamp halts trading after a $5,000,000 bitcoin theft. Most of the bitcoin services in the US and western countries are heavily dependent on the Bitstamp market to buy, price and sell coins. This hack may put the entire, fragile, bitcoin ecosystem at risk.
posted by empath on Jan 6, 2015 - 115 comments

Bitcoin Bowl Brings Virtual Currency to St. Pete

The first Bitcoin St. Petersburg Bowl will be played on December 26 at Tropicana Field between N.C. State and UCF. The bitcoin processor BitPay bought the naming rights, paying for the deal in the virtual currency, and the event has grown beyond the game. A nearby town in a "Bitcoin Beach" initiative convinced 65 percent of its businesses to accept the currency, touting no transacation fees or chargebacks as incentive. Five bitcoin ATMs will be installed at the game and concessions will take it as payment. A sign that this isn't all bitvana, from the Tampa Tribune: "A downside to the coin is that its value fluctuates. But BitPay has offered area merchants the opportunity to accept it from customers and then receive the exact dollar amount of the transaction back into their bank accounts."
posted by rcade on Dec 12, 2014 - 61 comments

Dropbox (not) hacked, but hackers claim 7 million accounts for sale

ArsTechnica: "7 million Dropbox username/password pairs apparently leaked" Reports started to come in late Monday evening about the cloud file storage service Dropbox having been "hacked" by a group that was offering up the complete list of millions of email+password combinations for Bitcoin donations. Later reports, including a statement by Dropbox, point to the potential list being several million combinations culled from various third-party sites, and then tested against Dropbox. [more inside]
posted by Celsius1414 on Oct 14, 2014 - 79 comments

Poor man's bitcoin mining

So you wanna join this bitcoin thing but can't afford the processing cycles to actually mine stuff? Now you can earn bitcoins using pencil and paper!
posted by Foci for Analysis on Sep 29, 2014 - 25 comments

The (Silk) Road to Hell is paved with noob mistakes

The FBI has recently released details on how the Silk Road black market was taken down. [more inside]
posted by ubiquity on Sep 12, 2014 - 37 comments

Darknet drug markets kept alive by great customer service.

In 1972, long before eBay or Amazon, students from Stanford University in California and MIT in Massachusetts conducted the first ever ecommerce transaction. Using the "Arpa-net" account at their artificial intelligence lab, the Stanford students sold their counterparts a small amount of marijuana. Ever since, the net has turned over a steady but small trade in illicit narcotics. But last year approximately 20 per cent of UK drug users scored online. The majority of them went to one place: the dark net markets. [more inside]
posted by bookman117 on Aug 24, 2014 - 36 comments

BGP Hijacking for fun and profit!

Dell SecureWorks has discovered that a blackhat used spoofed BGP announcements in order to steal cryptocurrency worth about $83,000 over the course of a few months earlier this year. [more inside]
posted by Chocolate Pickle on Aug 13, 2014 - 40 comments

And you will know my name is the lord.

It's Time For a Hard Bitcoin Fork. "A Bitcoin mining pool, called GHash and operated by an anonymous entity called CEX.io, just reached 51% of total network mining power today. Bitcoin is no longer decentralized. GHash can control Bitcoin transactions."
posted by chunking express on Jun 14, 2014 - 162 comments

FOR SALE: 29,656.51306529 bitcoins

The US Marshals Service is auctioning off the bitcoins seized from the servers of the Silk Road online drug marketplace last year, in lots of 3000 coins. You have until June 23rd register as a bidder and wire your $200,000 deposit. (Silk Road previously)
posted by silby on Jun 12, 2014 - 79 comments

On bitbuddychat everyone is talking about a scam some people fell for.

Curious about Bitcoin but nervous about risking your hard-earned fiat dollars? Get the whole experience with the Advanced Bitcoin Simulator!
posted by Pope Guilty on Apr 3, 2014 - 47 comments

1.4 million chips and 5,000 Raspberry Pis

Dave Carlson runs North America's largest (known) Bitcoin mining operation, taking 10% to 20% all bitcoins made. It was reputed to be mining $8 million dollars a month during the peak prices a few months ago. The operation takes up two warehouses (video) and apparently Carlson has special deals on bulk electricity, near Columbia River hydro-power in Eastern Washington. Carlson partnered with a shadowy Ukrainian known only by his handle "Bitfury" who designed a custom ASIC chip controlled by a Raspberry Pi, "he taught himself microprocessor engineering and designed his chip by hand at his kitchen table".
posted by stbalbach on Apr 2, 2014 - 214 comments

What do you get when you plant kisses?

For those who don't quite "get it" when someone makes a tulip joke in any given Bitcoin thread. This is a short documentary on the phenomenon of Tulip Mania, a period in Dutch economic history when Tulips became such a hot commodity that empires were born and lives ruined all over the value of tulip bulbs. [slyt]
posted by mediocre on Mar 22, 2014 - 27 comments

The Face Behind Bitcoin

"I am no longer involved in that and I cannot discuss it," he says, dismissing all further queries with a swat of his left hand. "It's been turned over to other people. They are in charge of it now. I no longer have any connection." Newsweek claims to have found Satoshi Nakamoto, the creator of Bitcoin. [more inside]
posted by memebake on Mar 6, 2014 - 470 comments

Not too big to fail.

Mt Gox, what had been the world's largest bitcoin exchange, seems to have shut down. According to a supposedly leaked document, they're missing 744,000 bitcoins, which even at Bitcoin's current, rapidly falling price, would be worth somewhere around $300 million dollars. A collection of bitcoin businesses and markets have issued a statement. [more inside]
posted by empath on Feb 25, 2014 - 912 comments

Coin Rules Everything Around Me

In 2014, Bitcoin (BTC) has become established as increasingly "real" money with government regulatory interest, law enforcement, and growing acceptance in commerce, but also as the reserve cryptocurrency for hundreds of "altcoins," making them also convertible to legacy money. Foremost among these is Litecoin (LTC), which introduced the scrypt hashing algorithm to cryptocurrency, democratizing coin mining by being best suited to common GPUs rather than Bitcoin's dedicated mining equipment. Recently donated LTC paid for a forest in Madagascar. Peercoin (PPC), next in prominence, introduces "proof of stake" where less energy is spent mining and existing coins pay interest. Dogecoin (DOGE), a fork of Litecoin (previously covered on Metafilter), continues heading to the moon, with more transactions than all other coins combined, thriving markets in digital goods, tipbots, an upcoming party in NYC's Bitcoin Center on Wall Street, much charity, and the recent announcement that new Dogecoins will be generated indefinitely. A selection of other foremost and interesting cryptocurrencies is within. [more inside]
posted by save alive nothing that breatheth on Feb 5, 2014 - 319 comments

The Library as an Economic Model in the Second Machine Age

Congress takes a casual look at the peer-to-peer economy - “Finding new ways to monetise used or existing assets has the obvious and immediate effects of raising their value and the wealth of their owners, while simultaneously reducing the value of comparable stuff owned by incumbent companies — for whom monetisation already wasn’t a problem, and who find themselves burdened by the newly competitive environment. The innovations also provide a surplus to those consumers who previously would have paid more to an incumbent. And all without any new stuff actually having to be made.” [more inside]
posted by kliuless on Jan 23, 2014 - 23 comments

Such Moon! Very Going!

DogeCoin : Wow   Very Currency   Such Culture   Many Epic
posted by jeffburdges on Dec 11, 2013 - 86 comments

Sell, Mortimer, Sell!

Bitcoin is crashing. After reaching a peak of approximately $1150 USD per BTC yesterday, a panic selloff is happening now. The price has dropped below 800USD, a loss of over 30%, and may be lower by the time you read this. Or it could recover and go higher. You can watch realtime charts of the bubble bursting at The Genesis Block and other BTC tracking sites. The panic began when the government of China has banned banks from using Bitcoins. China is the largest Bitcoin market and restrictions have a significant and unpredictable impact. Bitcoin panic selloffs have occurred before, but the price has recovered and increased nearly tenfold. [more inside]
posted by charlie don't surf on Dec 6, 2013 - 296 comments

Does bitcoin have a future?

Joe Weisenthal at Business Insider gives one of the most fair minded assessments on the internet: "First of all, it's wrong to say that Bitcoin has no value. There's prima facie evidence that this is untrue. If you want to buy weed on the Internet, Bitcoin serves a useful purpose.... Two other arguments against Bitcoin, which I've stated in the past, are that the currency is too volatile to be a useful medium of exchange. And that it's also deflationary in the sense that if you assume the price is going to keep going up, then you have no incentive to ever spend your bitcoins, thus preventing the Bitcoin economy from becoming a vibrant thing. But both of these counter-arguments have flaws." Also: Tyler Cowen discusses how China's tight capital controls have increased the value of bitcoin, and the Economist gives a good overview of the history of the cryptocurrency to date and a discussion of technical challenges regarding the increasing size of the blockchain, ensuring security and anonymity, and the computational arms race to mine bitcoins.
posted by bookman117 on Dec 1, 2013 - 177 comments

he intends Assassination Market to destroy “all governments, everywhere”

Meet The 'Assassination Market' Creator Who's Crowdfunding Murder With Bitcoins
Last month I received an encrypted email from someone calling himself by the pseudonym Kuwabatake Sanjuro, who pointed me towards his recent creation: The website Assassination Market, a crowdfunding service that lets anyone anonymously contribute bitcoins towards a bounty on the head of any government official–a kind of Kickstarter for political assassinations. According to Assassination Market’s rules, if someone on its hit list is killed–and yes, Sanjuro hopes that many targets will be–any hitman who can prove he or she was responsible receives the collected funds.
posted by andoatnp on Nov 18, 2013 - 143 comments

When this point is reached, the Bitcoin value-proposition collapses

Bitcoin is broken. And not just superficially so, but fundamentally, at the core protocol level. We're not talking about a simple buffer overflow here, or even a badly designed API that can be easily patched; instead, the problem is intrinsic to the entire way Bitcoin works. All other cryptocurrencies and schemes based on the same Bitcoin idea, including Litecoin, Namecoin, and any of the other few dozen Bitcoin-inspired currencies, are broken as well.
posted by Chrysostom on Nov 5, 2013 - 170 comments

Silk Road shut down, owner indicted

The United States Federal Bureau of Investigation has seized the domain of the popular online black market site Silk Road (previously), and indicted the site's owner, Ross Ulbricht, better known as Dread Pirate Roberts (previously).
posted by tonycpsu on Oct 2, 2013 - 291 comments

Digital panhandling is the next internet boom

“It’s a lot less embarrassing,” he says. “You don’t have to put yourself out there.” And unlike panhandling in Pensacola, using an app like Bitcoin Tapper won’t put him on the wrong side of the law. This past May, Pensacola — where Angle has lived since April — passed an ordinance that bans not only panhandling but camping on city property. -- Homeless, unemployed and surviving on bitcoins (and food stamps).
posted by MartinWisse on Sep 25, 2013 - 19 comments

The battle for the Web’s drug corner is on

Meet the Dread Pirate Roberts - the man behind booming black market drug website Silk Road
posted by Blazecock Pileon on Aug 28, 2013 - 67 comments

Sponsored by Math-Based Asset Services LLC

The Winklevoss twins have created and filed an SEC S1 for the Winklevoss Bitcoin Trust for people who wish to invest in a fund that invests in Bitcoins. They also funded BitInstant, a site for brokering sales of bitcoins.
posted by rmd1023 on Jul 3, 2013 - 106 comments

First they laugh at you, then they send in the Feds

The Department of Homeland Security has apparently seized Mt.Gox's Dwolla account, a key US mobile payments account associated with the largest Bitcoin exchange. Mt.Gox has confirmed that their Dwolla account is disabled, but have not been party to the court order themselves. [more inside]
posted by ArkhanJG on May 15, 2013 - 160 comments

In mathematics we trust.

The future of Bitcoin. Also, how to buy one at CVS.
posted by xowie on Apr 4, 2013 - 135 comments

Bitcoin The Concert

Listen To Bitcoin in realtime (Chrome and Firefox 19+).
posted by Foci for Analysis on Mar 31, 2013 - 51 comments

Government Ban On Bitcoin Would Fail Miserably

Jon Matonis is responding to a blog post which itself is citing a European Central Bank paper on virtual currency(pdf) [more inside]
posted by Shit Parade on Feb 4, 2013 - 81 comments

Monetarists Anonymous

Three Years In, Bitcoin Gains Momentum [more inside]
posted by the man of twists and turns on Oct 14, 2012 - 64 comments

Romney in a Brave New World

On September 4, 2012, the first ever Bitcoin extortion attempt was made public. The target? Mitt Romney and his tax returns.
posted by Clementines4ever on Sep 12, 2012 - 112 comments

BitCoin with Multi-signature Transactions

BitCoin appears to be gaining a measure of stability, at least temporarily, through anger at banks, paypal, visa, etc., the activities of currency traders, and increased activity, as well as the promise of multi-signature transactions. [more inside]
posted by jeffburdges on Jun 13, 2012 - 42 comments

Code is Law

YaCy is an open source fully decentralized peer-to-peer search engine designed prevent any single entity from exercising power over search results. [more inside]
posted by jeffburdges on Nov 28, 2011 - 26 comments

Tulip market sees uptick.

The Bitcoin bubble is bursting.
posted by griphus on Oct 21, 2011 - 103 comments

Bruce Wagner and the Bitcoin Scam

Has Bruce Wagner pulled off a massive scam on the bitcoin community? Bruce Wagner was for a time the public face of the new electronic currency. He was the go-to guy for journalists looking for insight into bitcoin. He even began running his own online TV network which attracted multiple sponsors. Now, things have begun to unravel for Wagner. MyBitcoin was a bitcoin bank Wagner had heavily promoted on his shows. One day, it vanished from the Internet. When it returned, MyBitcoin claimed to have been hacked and that it was only able to refund 49% of deposits. Wagner's early promotion and history of involvement in equity stripping mortgage scams has led to suspicion that he is somehow involved in MyBitcoin, despite claiming to be one of the biggest victims. [more inside]
posted by furiousxgeorge on Sep 1, 2011 - 448 comments

Paging cstross to the white courtesy phone

Bitcoin is growing up: early adopters lost money due to bad backups; the US Senate wants to crack down due to possible illegal drug purchases with the digital coins; it had its Black Friday, losing 30% of its value in one day (after a 5,600% increase in the first year); the Economist weighs in; and now an alledged heist of 25k bitcoins (original forum post), valued between $250k and $750k on the Mt. Gox exchange. Currently 154 petaflops of CPU and GPUs are computing SHA256 hashes in tight loops, easily beating the #1 on the top500, the Tiahne-1A with 2.56 petaflops. (Previously and more previously)
posted by autopilot on Jun 15, 2011 - 113 comments

No longer do you need to go to the corner for a fix...

The Silk Road, an anonymous way to buy and sell drugs With conversation previously of bitcoin you can now order anything under the sun.
posted by handbanana on Jun 1, 2011 - 160 comments

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