Articles about Currency


HP storage results borked by bleeding currency rates

With its latest results, HP's third-quarter storage revenues went down 2 per cent on the annual compare, not being pulled up by industry standard servers' revenue which rose 8 per cent. But at constant currency – ignoring foreign exchange rate changes over the year – they rose 7 per cent. The Enterprise Group's revenues were $ …
Chris Mellor, 21 Aug 2015

Insight becomes latest victim of global currency conundrum

Not a month passes without US-based tech suppliers bemoaning the ruinous impact of unfavourable for-ex rates on their financial well-being, and Insight Enterprises is the latest to do so. The Microsoft enterprise licensing house reported sales of $1.42bn for Q2 that were marginally up year-on-year but would have risen seven …
Paul Kunert, 04 Aug 2015

Avnet TS bemoans slow PC sales and currency for Q4 shrinkage

Avnet Technology Solutions reported a near double-digit decline in revenues to close off Q4, despite selling roughly as many enterprise tech products as it did in the same period a year ago. A financially flattish quarter turned into a declining one, in part when local coinage was converted back into a strong dollar, but …
Paul Kunert, 06 Aug 2015

IT security spending to hit $75.4bn in 2015 despite currency issues, says Gartner

Worldwide spending on information security will reach $75.4bn in 2015 – an increase of 4.7 per cent over 2014 – despite a currency-driven price hike causing some customers to delay purchases until next year. Government initiatives, increased legislation and high-profile data breaches are the hot topics shaping the latest …
John Leyden, 23 Sep 2015
Bitcoin is the future of money CC 2.0 by Jonathan Waller

Yank my blockchain: Bitcoin upgrade SNAFU borks hungry miners' currency

Bitcoin users have been urged to switch to pool mines that fully validate data blocks, after the virtual currency system hit a major snag during a planned upgrade. The open source P2P community warned on Saturday that "many wallets" were "currently vulnerable to double-spending of confirmed transactions." Anyone who received …
Kelly Fiveash, 05 Jul 2015

Computacenter CEO: Currency headwind? Yep, that hurt alright

For a business, not losing sales ground in these uncertain economic times might be considered something of an achievement in itself. If so, Computacenter bosses will be downing celebratory doubles this morn. In the half year to 30 June, the services-based reseller reported sales of £1.44bn – flat compared with a year ago, but …
Paul Kunert, 28 Aug 2015

Ecuador follows Bitcoin ban with digi-currency proposal

Ecuador has decided a state-backed digital currency might help it to avoid a financial crisis. Bloomberg reports that the South American nation will implement a fiat digital currency that's to sit beside the US Dollar, its current legal tender. The nation will institute a monetary authority to administer the dollar, the report …
Jamie Bartlett delivering Register Summer Lecture

Camgirls, crypto currency and beer: The Register tours the Dark Net

Register Lectures Very few of us, even at The Reg, have spent a year trawling the darkest corners of the internet, getting to know right wing agitators, crypto currency zealots, and Yorkshire’s leading Camgirl. Jamie Bartlett did though, and he shared his experiences with a room full of Register readers at our Summer lecture on May 21. He took …
Joe Fay, 05 Jun 2015

PayPal goes crypto-currency with Bitcoin

eBay's PayPal business will start accepting the crypto-currency Bitcoin for payments “over the coming months”. The move confirms rumours that emerged in August that the online store was in talks with Bitcoin processor Coinbase. Those talks involved Braintree, which the company acquired early this year, and according to …
carving of kiwi

Dotcom wants NZ to have fiat-backed crypto-currency

Either New Zealand is leading the world in April 1 news stories, or Kim Dotcom's Internet Party is not only proposing a government-backed crypto-currency, but thinks it should operate in parallel to the country's fiat currency. Since the story starts on March 26, Vulture South is forced to at least accept the hypothesis that the …

HGST's Active Archive System and the 'currency of the new economy'

What better thing for a disk drive company to do than announce a drive array to archive data and increase demand for its spinning disks? HGST has gone and done just that with its Active Archive System array, built using acquired Amplidata object storage tech. Object storage technology views files as objects, with the content …
Chris Mellor, 08 Apr 2015

Bank of America: Bitcoin could become THE currency of e-commerce

Chinese banks may not be too keen on Bitcoin at the moment (which has done something to damp down the current price) but a new research report from Bank of America rates it as a major player in future internet transactions. "We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious …
Iain Thomson, 06 Dec 2013
The Register breaking news

Bitcoin blitzkreig as Germans prepare to tax virtual currency

Germany has become the first country to recognise Bitcoin as a real form of currency, which will be subject to tax like any other dosh. The country's ministry has declared that Bitcoins are “units of account” and should be regarded as “private money”. What this means is that anyone trading in the virtual currency will be liable …
Jasper Hamill, 20 Aug 2013
Bitcoin bloodbath

MtGox, that bastion of unregulated e-currency Bitcoin, turns to Texas judge for protection

The embattled MtGox Bitcoin exchange has been thrown a lifeline by a US bankruptcy court in the northern district of Texas – which has shielded the company from litigation. Judge Harlan Hale granted a motion [PDF] to place the company under Chapter 15 bankruptcy, a classification that will help it fend off, for the time being, …
Shaun Nichols, 11 Mar 2014

Bitcoin price SOARS after US SENATE hearing on 'legit' currency

The price of Bitcoin has soared to astronomical heights after a US Senate hearing on the "promises and risks" of the crypto-currency. One Bitcoin was worth $637 (£396) on the Mt Gox exchange at the time of writing, but hit highs of over $900 (£558) during the hearing, prompting analysts to warn the bubble is about to burst. …
Jasper Hamill, 19 Nov 2013
Somali pirates storm the box

Virtual currency speculators shut down cloud

Exclusive Proponents of virtual, encrypted currencies took another scalp on Monday when a gaggle of them flooded a cloud provider, causing it to shut off sign-ups for new users in some regions. Public cloud provider DigitalOcean was forced to stop people spinning up new servers ("droplets") on its cloud due to absurd levels of demand …
Jack Clark, 16 Jul 2013

Facebook scuttles 250k-strong crypto-currency botnet

Facebook has taken down a Greek botnet that at its peak compromised 50,000 accounts and infected 250,000 computers to mine crypto-currencies, steal email and banking details and pump out spam. The scuttled Lecpetex botnet spread malware including the DarkComet remote access trojan by social engineering techniques and was adept …
Darren Pauli, 09 Jul 2014
The Winklevoss twins, Cameron and Tyler

HALF of all Bitcoin-investing Winklevoss twins predict $400bn market for the currency

Facebook backer-turned-antagonist Cameron Winklevoss has issued a bright forecast for the future of the Bitcoin cryptocurrency. Speaking in a Reddit Ask Me Anything session, Winklevoss said that he projects the value of Bitcoins could reach upwards of $40,000 at some point in the not-too-distant future. "Small bull case …
Shaun Nichols, 17 Dec 2013

Bitcopocalypse! Top crypto-currency can be HIJACKED, warn boffins

The Bitcoin crypto-currency is vulnerable to manipulation by greedy miners, researchers have claimed, which poses a threat to the stability of the funny money. In a paper distributed on Monday titled Majority is not Enough: Bitcoin Mining is Vulnerable, two researchers from Cornell University describe how Bitcoin's currency …
Jack Clark, 05 Nov 2013
PayPal inStore app in action

PayPal and SETI aim to go galactic with off-planet currency system

When PayPal launched 15 years ago it billed itself as the world's first global currency. Now the company is looking to kick-start a conversation into how to become the payment platform for the solar system with PayPal Galactic. "The time is right today because of all of the interest and movement and money and private/public …
Iain Thomson, 27 Jun 2013

Joke no more: Comedy virty currency Dogecoin gets real in big Xmas heist

If you've heard of Dogecoin, maybe you thought it was a joke. A cryptocurrency based on what has been called the meme of the year for 2013, it certainly has all the earmarks of an internet prank. But some people are apparently taking Dogecoin seriously – seriously enough, at least, to steal millions of them from online wallets. …
Neil McAllister, 26 Dec 2013
Bitcoin is the future of money CC 2.0 by Jonathan Waller

Oz Bitcoin traders cry 'conspiracy' over bank bans

Bitcoin traders in Australia reckon the country's banks are blanket-banning them in an effort to stave off possible competition from the crypto-currency. A couple of individuals who operated Bitcoin trading operations have told the Australian Broadcasting Corporation that Westpac, the Commonwealth Bank, the National Australia …
Graph of US dollar going up CC 2.0

Hey, CIOs: Tech prices are about to rocket, so get planning – Gartner

As currency changes make tech products more expensive, Gartner says CIOs need to re-examine their budgets. In the last year, the Euro, Japanese Yen and Brazilian Real have all dropped by about 20 per cent against the US Dollar, and according to Roberto Sacco, Gartner’s research director, that is likely to remain the case at …
Jennifer Baker, 12 Aug 2015
4 arrows signs in arrow on wooden wall

Booked that expensive holiday yet Mr Server Maker? Maybe just a day trip for now

The EMEA server market is on fire, but not in a good way – both shipments and factory revenues declined in Q2 amid the currency issue and uncertain business climate. Unit sales dropped 5.6 per cent year-on-year to 523,800 servers, and the money coughed for them dipped 2.3 per cent to $3.1bn, abacus fondlers at Gartner have …
Paul Kunert, 26 Aug 2015
Derailed train wagon. Pic: New York MTA

Teradata blots copy book with first loss in years

Teradata lost $265m in its second quarter 2015 as a $340m goodwill impairment charge hammered profits, along with continued deferrals of large transactions and longer sales cycles. Revenues in its second calendar 2015 quarter were 8 per cent down year-on-year at $623m, while net income plunged from $96m a year ago to a the $ …
Chris Mellor, 07 Aug 2015
Bitcoin is the future of money CC 2.0 by Jonathan Waller

The world's first proper Bitcoin exchange will be live in a month

Bitcoin will officially enter the mainstream financial world next month when New York State's Department of Financial Services (NYDFS) publishes a regulatory framework for the virtual currency, allowing virtual currency exchange itBit to become the first-ever legitimate Bitcoin bank. The NYDFS will publish its final "BitLicense …
Kieren McCarthy, 29 Apr 2015

Squeaky bum time for server makers: Dollar dashes buyers' budgets

A currency noose hanging around the neck of customers’ budgets in Europe looks set to throttle server spending, according to IDC. Appreciation of the US dollar has forced American tech makers to increase their prices this year on several occasions, and this disrupting impact is tipped to worsen as the unsettled economic and …
Paul Kunert, 09 Sep 2015

Unisys halts and catches fire: Mainframe builder dives into the red

Mainframe maker Unisys plunged into the red during its second quarter of 2015, posting losses of $58.2m (£37.6m). The losses quadrupled compared with its second quarter in 2014, when the biz dropped $12.1m over the three-month period. Overall revenues dropped five per cent to $765m (£494m). Nevertheless, chief exec Peter …
Kat Hall, 24 Jul 2015
The Register breaking news

Bitcoin Foundation vows to clean up currency's bad rep

Tired of bad press, Bitcoin advocates have launched a new foundation aimed at both promoting the electronic currency and funding infrastructure to maintain its momentum. The Bitcoin Foundation is the brainchild of Gavin Andresen, who says he modeled it after the Linux Foundation, the non-profit organization that "promotes, …
Neil McAllister, 29 Sep 2012

Red Hat raises guidance after good Q2

Red Hat rode on the back of rising cloud subscriptons to turn in a good Q2. Revenues for the quarter ended 31 August, 2015 were up 13 per cent year to $504m ($445,9m) – and 21 per cent on a current currency basis. Net income was $51.8m ($6.8m) The open source vendor reports an annualised run-rate of $100m for its certified …
Drew Cullen, 22 Sep 2015
Bitcoin punch cards

Bitcoin is an official commodity, says US gummint

The Commodity Futures Trading Commission (CFTC) has declared that Bitcoin, and indeed all virtual currencies, are officially commodities. The ruling arose after the CFTC ordered two outfits, Coinflip, Inc. d/b/a Derivabit (Coinflip), to stop their Bitcoin-trading activities. The FCTC says the companies offered “commodity …
Simon Sharwood, 17 Sep 2015

Phew! Brits escape Azure price hikes as rest of world bears the brunt

Blighty has dodged the price hike bullet that Microsoft is set to fire into Europe and Australia, which will see customers paying more for Azure cloud services - much more, in fact. As revealed this morning, appreciation of the US dollar compared to the Euro and the Aussie dollar will lead to price jumps of eleven and 26 per …
Paul Kunert, 06 Jul 2015
Xbox Live

Microsoft to cash in chips on virtual currency

Microsoft will call time on its virtual currency, Microsoft Points, with a switch to real money on the cards later this year, it has been claimed. Future transactions across the Windows Phone, Zune and Xbox Live platforms will be based on the currencies of the region in which the user has pegged their account to, an anonymous …
Caleb Cox, 25 Jan 2012

Poor Imation's revenues continue their never-ending death spiral

Imation’s board may be thinking that breaking up is hard to do. But, with the continuing decline in revenues, the only way to get any value out of the company may be to sell off the promising parts and forget the rest. It carried on plunging down the revenue slope with a 15.7 per cent annual decline in its second-quarter 2015 …
Chris Mellor, 11 Aug 2015
Stacks of bitcoin CC2.0 attribution by FD Comite

Texan hotshot coughs to $4.5 million Bitcoin Ponzi scheme

The owner of Bitcoin Savings and Trust (BTCS&T) has admitted running a Ponzi scheme that defrauded people of millions of dollars in the crypto-currency. Texas resident Trendon Shavers, 33, has, in a deal with prosecutors, pleaded guilty to one count of securities fraud in a Manhattan federal court. He was cuffed and charged in …
Iain Thomson, 22 Sep 2015

Arrgh! It's Device-a-pocalypse, Gartner yowls: 11 per cent drop foretold

Some 12 months ago the device market was booming on the back of the XP refresh – but fast forward to today and things are again looking very regressive. In the latest re-forecast, Gartner reckons eleven million PCs, tabs and smartphones will be stocked by retailers and disties in Britain this year: an eleven per cent fall on …
Paul Kunert, 14 Jul 2015

Ex-Secret Service agent who siphoned Bitcoin from Silk Road takes plea deal

A former US Secret Service agent has pleaded guilty to money laundering and obstruction of justice charges stemming from his misconduct during the criminal investigation of Silk Road. Shaun Bridges agreed to a plea deal after being charged with stealing 20,000 Bitcoin from accounts on the dark web drug market run by Ross …
Shaun Nichols, 01 Sep 2015

Tech Data: screw you Wall St, we're a high flying distie

Walloping Wall Street expectations is becoming a bit of a habit for Tech Data - tighter cost controls beefed up operating profit, and higher than expected sales led to a double digit spike in the share price. The world’s second largest tech distie suffered at the hands of currency exchange rates - like the rest of the US-based …
Paul Kunert, 21 Aug 2015

Bitcoins: A GIANT BUBBLE? Maybe, but currency could still be worthwhile

The Bitcoin economy is a bubble and it'll all end in tears. Bitcoin is the greatest thing since sliced bread and will change the world forever. What might surprise some of you is that there's no contradiction between these two statements. Whether the internet currency is in a bubble or not, and whether that bubble bursts and …
Tim Worstall, 15 Apr 2013
arrow pointing up

Thought your dept was on budget this year? THINK AGAIN, matey

Tech buyers will likely need to revisit budget forecasts at the month's end with another price hike on commodity hardware to be pushed through by vendors in response to the relative appreciation of the dollar. Since last summer the US currency is up 15 per cent against the UK Pound (the impact on the Euro is even more pronounced …
Paul Kunert, 20 Apr 2015

Systemax bleeds $28m while its shares bounce off the floor

With the store closure programme Stateside, the axe falling on EMEA boss Pim Dale, and the industry-wide currency crisis, portents of doom hung over Systemax’s Q2 numbers. And so it has come to pass – the once mighty tech reseller last night reported another quarter of double digit sales declines and widening losses. Turnover …
Paul Kunert, 05 Aug 2015

Whee! IBM storage hardware revenues just keep sliding and sliding

IBM's storage hardware revenue decline has continued, according to its 2015 first quarter results. IBM's earnings statement said: "Revenues from System Storage decreased eight per cent (down two per cent, adjusting for currency)." Remember, this is just the storage hardware business, ignoring storage software products, and if …
Chris Mellor, 21 Apr 2015

Chap slapped in Dogecoin crap app flap

The FTC settled with an app developer accused of hijacking smartphones for digital currency mining. The Commission filed a complaint last week against an app developer who was said to have surreptitiously embedded an application with malware that used victim's handsets to perform virtual currency mining without their knowledge …
Shaun Nichols, 29 Jun 2015
Bitcoin is the future of money CC 2.0 by Jonathan Waller

The United States' first official BitCoin exchange goes live

The first government-approved BitCoin exchange in the US has gone live. As we predicted last week, the New York State Department of Financial Services (NYFDS) has given itBit Trust Company the first charter to be a virtual currency in the world's financial center. NYFDS superintendent Benjamin Lawsky said of the decision: "We …
Kieren McCarthy, 07 May 2015
The Register breaking news

Currency moves cost small biz dear

Small business owners in the UK blame currency movements for threatening their ability to export goods - or at least to export goods profitably. A survey of 365 business owners by the Forum of Private Business found 63 per cent said currency movements are a restriction on overseas trade. Just 31 per cent complained about …
John Oates, 16 Jun 2010

The BIG stretch: Software and flexing your firm's size

A mathematician (a Fields Medal winner, so a real one) once asked an economist whether there was anything in economics that was non-obvious and non-trivial. Well, the answer that came back was: "It's all obvious or trivial except Ricardo on comparative advantage." So, once explained, this analogy is both obvious and trivial, …
Tim Worstall, 11 May 2015

Wall Street watchdog publishes its ultimate rules on Bitcoin biz

The New York State Department of Financial Services (DFS) — the financial regulator for Wall Street — has released its final regulations for Bitcoins. The BitLicense Framework will regulate the use of digital currency in New York and tries to strike a balance between preventing fraud while staying open to innovation in a rapidly …
Kieren McCarthy, 03 Jun 2015
£10 notes. Pic: Howard Lake

Computacenter UK giggles as cash rains on revived data centre ops

Computacenter’s UK sales team must be in self-licking mode after a barnstorming start to calendar ’15 – but revenue zapping currency conversions and an unsettled French operation hit the group’s top line. In a trading update, the London-listed services-based reseller said Q1 revenues reduced by two per cent as reported to £715. …
Paul Kunert, 23 Apr 2015

Barracuda misses Q2 results target

Cloud security and storage supplier Barracuda recorded growing revenues in its latest quarter, but fell short of expectations and made a loss because of poor sales in Europe and large deal push-outs. However, it announced it was buying a managed service provider software company to grow its market. Revenues for the second …
Chris Mellor, 01 Oct 2015
Acropolis by CC 2.0 attribution

Bitcoin fixes a Greek problem – but not the Greek debt problem

Worstall on Thursday Hallelujah and may the Lord be praised! Someone has finally managed to find a decent economic use for Bitcoin. This isn't what those of us interested in the nitty-gritty of economics ever really expected, to be quite frank. We have looked on the alt-coin world as a rerun, a recapitulation, of every scam, fraud and mistake that …
Tim Worstall, 16 Jul 2015