Feeds

Bitcoin blasts past $1,000 AGAIN after Zynga accepts cryptocurrency

Spend 1BTC, buy yourself millions of virtual farm acres

Internet Security Threat Report 2014

How better to pay for virtual real estate than with virtual money?

The price of Bitcoins has risen beyond the thousand-dollar mark again after games-maker Zynga announced it would trial the e-currency for in-game purchases.

At the time of writing, a Bitcoin was worth $1,062.30 on the Mt.Gox online exchange, one of the major markets where the software-based, government-free money is traded for authority-backed currencies like dollars and euros.

The surge comes after Zynga told folks on the /r/bitcoin community on Reddit over the weekend that it was starting a trial with BitPay, a Bitcoin service provider, to accept the currency for purchases in games like Farmville 2, Hidden Chronicles and CityVille.

The test is limited to seven of the firm's games to start with, but the company said it wanted to get feedback from its users on the trial.

Bitcoins last cleared the $1,000 hurdle at the end of November last year, reaching a record high of $1,237.95 on Mt.Gox at the end of the day on 4 December. But the digital currency then plummeted to as low as $640 after China banned its banks from trading in Bitcoin after warning that it could be used to fund terrorism.

The crypto-currency is beloved of idealists, hipsters and libertarians because it isn't backed by governments and central banks, but is created by "mining", where programmers use computer processing power to solve maths riddles.

But critics of Bitcoin say that its authority-shy status allows it to be used for money laundering and other illicit transactions - and they also claim the market for the currency is a volatile bubble-fest whose only value comes from speculative trading. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.