Category Archives: News
Bitcoin Lasts as Other Digital Currencies Move On
Bitcoin is showing stamina as it outlasts other digital currencies.
In its fourth year of circulation now, the decentralized online-only form of money has evolved from a libertarian-styled geek curiosity to a contender for becoming the first digital currency to go truly mainstream. There are now more than 11 million “coins” created worth more than $1 billion. Lumpy and volatile as it is, the math-based cash is one of the fastest-rising alternative currencies in a world filled with them.
Tyler Moore, who studies alternative currencies, said he still isn’t sure why.
“It’s one part luck, one part decentralization, and one part this design that carries appeal for people that don’t like inflation,” said Moore, an assistant professor of computer science and engineering at Southern Methodist University in Dallas. “The timing of it was really good.”
Bitcoin slipped onto the scene in 2009, as trust in established banks crumbled and inflation fears rose. It’s not managed by anyone. There’s no central bank. It’s based on open-source encryption technology.
In fact, the digital cash can be created by anyone with the hefty computer power required to solve specified algorithms that secure the network. Bitcoins are rewards for effort. The system takes banks out of the picture completely as individuals pay each other directly. Transactions are private, but because there’s a public ledger of them, it’s unlikely they are perfectly anonymous.
Via Buffalo News.
Top Bitcoin News: Domains Seized, Bitcoin Tipping, Australian Retail
Bitcoin News
A roundup of the top Bitcoin news from June 3 to June 17.
Wednesday, June 5
Friday, June 7
Saturday, June 15
CC image by JefferyTurner
Australian Online Retailer Millennius Now Accepts Bitcoin
Australian online electronics retailer Millennius declared that it will be the first major Australian online retailer to accept Bitcoin.
As reported at iTWire, Millennius founder Pierre Boutros said the retailer is always looking for ways to make purchasing online easier for consumers, both in Australia and throughout the world. “Bitcoin is becoming a far more common payment mechanism for online transactions, with many global online businesses adding the functionality,” Mr Boutros said. “We’re proud to be the first major Australian online retailer offering the Bitcoin payment system and we look forward to it making our growth in the new markets in the US and the UK later this year even easier.”
All products in the Millennius site are now available for purchase using Bitcoin, while credit card and bank transfer payment functionality also remain for those customers that prefer them.
Millennius is also accepting competing currency Litecoin.
“Millennius is all about creating great products at great prices, and offering the best deal on brand name consumer electronics. The addition of Bitcoin and Litecoin as payment options can only help with our ability to offer great deals to wider customer base,” Mr Boutros said.
via iTWire.
CC image by marc falardeau
How to Tip with Bitcoin on Reddit – bitcointip
bitcointip at Reddit
The team over at The Next Web spotted a cool new trick on Reddit that lets you tip with Bitcoin.
Reddit recently introduced a system by which users can ‘mention’ other users; that capability opened the door for users of /r/Bitcoin to create a bot that allows for tipping.
The tipping service is now open to all Reddit subreddits, and all users, making it a site-wide experience. Details on how to get yourself up and running can be found here. In practice, the tipping is quite simple:
To tip the parent comment/post one dollar:
+/u/bitcointip $1
To tip user Bob .5 BTC:
+/u/bitcointip @Bob .5 BTC
It’s a simple, neat method to reward other users for behaving in a way that you approve of. The obvious analog to this new – albeit user-generated – capability is Reddit’s official system by which users can give each other ‘Gold,’ the service’s premium user experience that costs a few dollars.
If you want to dig a bit more deeply, /r/BitcoinTip is the place to go.
CC image by JefferyTurner
Full List of 35 Domains Seized in the Wake of Liberty Reserve Money Laundering
35 Domains Seized by the Government
The Justice Department has published a list of all exchanger domain names seized in the money laundering scandal that brought down Liberty Reserve. Note that many of these money exchangers have nothing to do with Bitcoin, but the scope of this news highlights the regulatory risks of running alternative currency exchanges.
There are 35 domains, all listed below and available here.
ABC-EX.NET
ABSOLUTEXCHANGE.EU
ALERTEXCHANGER.COM
CENTREGOLD.CA
DUYDUYCHANGER.COM
E-NAIRA.COM
EBUYGOLD.COM
ECARDONE.COM
EDEALSPOT.COM
ELECTRUMX.COM
ENTELNOVA.COM
EPAYMONSTER.COM
EXHERE.COM
GETEMONEY.COM
GOLDEXPAY.COM
GOLDMEDIATOR.COM
GOLDNAIRAEXCHANGE.COM
INSTANTGOLDNG.COM
INTEXCHANGE.COM
JTGOLD.COM
M-GOLD.COM
MAGNETIC-EXCHANGE.COM
MEWAHGOLD.COM
MI-BILLETERA.COM
MONEYEXCHANGE.VN
NICCIEXCHANGE.COM
NIGERIAGOLDEXCHANGER.COM
SUPERCHANGE.RU
TACOAUTHORIZED.COM
TUKARDUID.COM
UKRNETMONEY.COM
VELAEXCHANGE.COM
WEBMONEY.CO.NZ
WM-CENTER.COM
WMIRK.COM
