It’s a brave new world for merchants: using digital currencies that bypass traditional payment systems. Also termed as ‘cryptocurrencies’, these alternatives to cash include a series of numbers that can be traded over the internet for goods and services. These currencies have suffered a few security setbacks since they came on the horizon; however many [...]
We've done a good amount of reporting on the virtual currency Bitcoin over the past few years here at Techfaster.com We've seen the virtual currency take a stride at becoming more mainstream with Overstock.com, Dish Networks and Expedia adopting bitcoin as a method of payment. Even our friends at Mobile Nations allow you to buy [...]
Some pretty interesting news came out of MIT on Tuesday. The MIT Bitcoin Club - the fact that there is such a club is news in and of itself - "raised half a million dollars for a project to distribute $100 in bitcoin to every undergraduate student at MIT this fall."MIT Bitcoin Club, "Announcing the [...]
On Tuesday March 25, in what is really their first substantive ruling on Bitcoin, the Internal Revenue Service (IRS) has finally decided how the currency will be taxed. The IRS has concluded that Bitcoin will not be taxed as a currency, but rather: "For federal tax purposes, virtual currency is treated as property."
Bitcoin has taken the world by storm. It seems every time you reload a tech related web page there is something new about Bitcoin, today is no different. A lot of people have heard the term Bitcoin. They may even had heard that at some points the value of one Bitcoin can be over $1000, [...]
It seems these days no matter what tech sites you read or what's going on in the world, there is some kind of daily news about the virtual currency Bitcoin. Bitcoin is very popular because of it's anonymous nature. At the same time it's very scary for some because they hear about insane fluctuations and [...]
As more and more of the world has become familiar with the virtual currency Bitcoin, it has gained acceptance from several industries, popular websites and users. While Bitcoin allows anonymity when paying someone and has little or no regulation, the virtual currency is very volatile with values ranging in the hundreds to sometimes over $1,000 [...]
During the last weekend in January 2014, the 24-26, TheStreet - a media company that focuses on financial matters - conducted a survey of more than 1000 individuals. The topic of this survey was Bitcoin, or rather what these individuals thought of the currency. The results were pretty astounding. A whopping 76% of those polled had no idea what Bitcoin even was. Only 2% of those polled owned any Bitcoin, and 38% of resoindents though that Bitcoin hurt the value of the dollar.
One of the more interesting Bitcoin exhibits we saw was that of KryptoKit. One of the largest problems with Bitcoin - and one of the largest barriers for skeptics - lies in the structure and utility of the various wallet systems/software. They are often clunky, and making or receiving a payment often takes an awful lot of copying and pasting. No more.
During CES we got a chance to talk Bitcoin and e-commerce with Michael Handerhan, the founder and CEO of Bitcoinshop. As the name suggests, Bitcoinshop is an e-commerce site that specializes in just about everything one could need, and for your convenience they only take virtual currency Bitcoin. According to Handerhan, his site has taken [...]