Articles about Currency

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 …

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 …

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
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
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 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
Lecpetex

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
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
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
Dogecoin

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
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

Screwball ruble closes Apple's Russia store, whole kit and caboodle

Apple has temporarily halted online sales in Russia while the country remains in an economic free-fall. The iPhone giant said "extreme" fluctuations in the value of the ruble forced it to shut its shopping website in the Putin-led country. Apple said it will review its pricing before reopening the site for sales. The ruble saw …
Shaun Nichols, 17 Dec 2014

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
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

Microsoft BEATS Apple, Google ... to accepting limited Bitcoin payments

Microsoft has quietly added Bitcoin as a payment method for digital content - games and music - thanks to a deal with Bitpay that allows customers to use the cryptocurrency to add money to their MS account. Trouble is, the synthetic dosh still can't be used to pay for physical goods directly, and initially at least, it's Bitcoin …
Lindsay Dodgson, 11 Dec 2014
An Amazon Coin

Amazon launches own currency

Amazon.com has started printing its own money. The company's effort, dubbed Amazon Coins, will be familiar to anyone that has acquired Microsoft Points or Nintendo Points, as the Coins require consumers to stump up real-world cash in return for a balance of online-only credit tied to a single store. Coins can be spent in Amazon' …
Simon Sharwood, 14 May 2013
Bitcoins

UK.gov mulls what to do about digital currencies

The government has opened a consultation examining the benefits and risks of digital currencies, which will include evidence on whether the virtual currencies ought to be regulated. An estimated 20,000 people in the UK currently hold cryptocurrency Bitcoin – and around £60m worth are circulating in the UK economy, said The …
Kat Hall, 04 Nov 2014
Riecoin

Cryptocurrency cruncher cranks prime number constellation

Bitcoin mining, our own Simon Rockman wrote last January, “is essentially a brute-force attack on the generating algorithm”. “Bitcoin, and all the other alt-coins, is training a skillset for building password-cracking hardware that is both powerful and portable,” he wrote. It looks like cryptocurrencies are also helping to spot …
Simon Sharwood, 28 Nov 2014
The actor playing a young Julian Assange in the telemovie Underground

I saved Bitcoin and the PERFECT DRAFT OF HISTORY, says Assange

Julian Assange has alleged that Bitcoin “founder” Satoshi Nakamoto asked WikiLeaks not to use the cryptocurrency as a means of raising funds, for fear of attracting unwanted attention. The allegation surfaced in a Reddit Ask Me Anything (AMA) session Assange conducted to promote a new book. In that session he offers this extract …
Simon Sharwood, 16 Sep 2014
Bitcoins

Do you accept Bitcoin? That'll do nicely, says Apache

Open-source project shop the Apache Software Foundation (ASF) is now funding its projects with Bitcoins. The US-based non-profit says it’s received 5.35915909 in BTC – just over $2,600 – in just 48 hours after saying it would accept the virtual currency. ASF says it decided to accept the e-coinage in response to an email …
Gavin Clarke, 03 Sep 2014
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
Dogecoin

Bitcoin was illegal in California? Whoops, governor fixes that 165-year-old money law

California Governor Jerry Brown has signed off on a law legitimizing Bitcoin and other cryptocurrencies for use in the state. The governor rubber-stamped AB 129, enacting what legislators say is a much-needed overhaul of the state codes on currencies. Under the new law, digital currencies and community currencies are protected …
Shaun Nichols, 01 Jul 2014
Bitcoin bloodbath

Gendarmes grab French Bitcoin exchange in €200k sting

The operators of an illegal French Bitcoin exchange have been collared by the gendarmes and their Bitcoin holdings confiscated. A sketchy story out of Reuters says that the raid netted €200,000 worth of the crypto-currency, but doesn't outline what specific laws the exchange is accused of breaking. The Reuters story merely …

Bitcoin is MONEY, says Canada

Canada's government has enacted what's believed to be the first legislation worldwide to define the status of crypto-currencies: they're money and have to be accounted and reported as such. The laws, under the gripping title An Act to Implement Certain Provisions of the Budget Tabled in Parliament on February 11, 2014 and Other …
Bitcoin bloodbath

Bitcoin bloodbath as China shutters all trading sites

China’s central bank has ruled that all banks and payment service providers in the country must cease dealing in Bitcoin. The ruling, effective from April 15th, basically shutters all Bitcoin trading sites in the Middle Kingdom and means cash purchases will soon be the only way to buy into the virtual currency. The People’s …
Phil Muncaster, 28 Mar 2014
Baidu Logo

Baidu launches mobile browser, tosses currency into clouds

China’s search-and-plenty-more giant Baidu has flagged a $US1.6 billion cloud investment. The investment, announced with a minimum of detail by CFO Li Xinzhe, will go towards building data centres and hiring staff. The Chinese search firm also announced the launch of the Baidu Mobile Browser, which it says is designed to compete …

Revealed: What the US taxman really thinks of crypto-cash Bitcoin

The US Internal Revenue Service (IRS) has laid out a formal set of policies for how it will handle Bitcoin and other virtual currencies for tax purposes. In a guide (PDF) released Tuesday, the IRS said that it would be considering cryptocurrencies to be property, and as such would be subject to US laws regarding the transfer and …
Shaun Nichols, 26 Mar 2014
Wifi grumpy cat

Pay-by-bonk 'glitch' means cards can go kaching-for-crims

Researchers from the UK's Newcastle University have outlined how pay-by-bonk cards can be p0wned by a “rogue POS terminal” running on a mobile phone. To be detailed on Wednesday at the 21st ACM Conference on Computer and Communications Security, the attack is said to rely on a “rogue POS terminal” being set up with a pre-set …
News team, 04 Nov 2014

Beardie Branson backs Blockchain's Bitcoin bandwagon

British business beardie Richard Branson has invested in Blockchain. Not the Bitcoin ledger, but a custom Bitcoin wallet that functions through an iOS app. The blockchain, in Bitcoin terms, is the master ledger of all Bitcoin transactions. For all the brouhaha about Bitcoin being anonymous, the blockchain is downloaded – and …
Simon Rockman, 10 Oct 2014

Bitcoin laws are coming: US Senate launches virty currency probe

The heat is on for Bitcoin and other virtual currencies in the US, with lawmakers at the highest levels of government now actively investigating how to regulate the upstart digital monies. On Tuesday, the Senate Committee on Homeland Security and Governmental Affairs sent letters to a number of prominent federal regulatory …
Neil McAllister, 14 Aug 2013
Dogecoin

Dogevault praying backups work after confirming attack

Stop us if you've heard this one before, but the day after it went down for mysterious reasons, crypto-currency wrangling site Dogevault.com has confirmed someone stole its kibble. “On the 11th of May, the Doge Vault online wallet service was compromised by attackers, resulting in a service disruption and tampering with wallet …
Simon Sharwood, 14 May 2014
Bitcoins

Dell The Man shrieks: 'We've got a Bitcoin order, we've got a Bitcoin order'

Big Mike Dell, CEO at the eponymous Texan tech biz, was telling anyone that would listen over the weekend that his company had flogged some old world stuff via a new world digital currency. The privately held maker of PCs and other gear for enterprises and consumers last month began a trial to allow US customers to use Bitcoin …
Paul Kunert, 11 Aug 2014
Nyancoin logo

Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash

Dell has started accepting Bitcoin as payment for stuff. The PC giant, which notches up about $60bn in annual sales, said on Friday it is testing a feature that lets customers pay for gear with cryptocurrency. "We’re piloting bitcoin, the world’s most widely used digital currency, as a purchase option on Dell.com for consumer …
Jack Clark, 18 Jul 2014
Scotland

Tick-tock, Jock: Dock schlock for mock-stock in ad-hoc shop squawk

As the great and the ghastly of Britain's political class row over which currency Scotland will use if it splits from the kingdom, one firm has proposed a way to settle the argument. Secondhand electronics trader CeX will, from 13 May, turn one of its shops in Scotland into a "pound-free zone" for three days – and instead accept …
Jasper Hamill, 13 May 2014
Bitcoins

Chinese Bitcoin farms: From scuzzy to sci-fi

Somewhere in very rural northeast China lies a dusty and dirty factory where the deafening roar of machinery leaks from an armada of Bitcoin mining rigs. Inside a secret north china bitcoin mine. Copyright Jacob Smith (Bitsmith) @ The Coinsman - used with permission Inside the secret north China Bitcoin mine. Copyright Jacob …
Darren Pauli, 12 Aug 2014

Euro banks warned off Bitcoin as Canada regulates it

The European Banking Authority, which has previously warned consumers that they're unprotected if they get themselves into the crypto-currency game, has followed up with a don't-touch warning to banks. In this announcement, issued on Friday July 4, the EBA says it's identified “more than 70 risks” that apply to users, banks, …
grab_that_cash

Who wants to be A MILLIONAIRE? Not so fast, Visa tells wannabe pay-by-bonk thieves

Visa Europe has downplayed a new attack that could steal hundreds of thousands in foreign currency over the air from contactless credit cards. The electronic robbery was devised by researchers at Newcastle University in the UK, but the banking giant claims the techniques used aren't feasible in the real world. The researchers' …
Iain Thomson, 05 Nov 2014
Nyancoin logo

Cryptocurrencies now being pooped out by cartoon cat

Nyan Cat, the most annoying internet meme since the Hampster Dance , has spawned its very own Bitcoin clone. Nyan Cat appeared in 2011 in this video depicting a cat shaped like a pop tart streaming an endless rainbow from its rear parts as it flies through space. The background music is a Japanese pop song, which may explain …
Simon Sharwood, 23 Jan 2014
Scotland

JINGS! Microsoft Bing called Scots indyref RIGHT!

As we reported two days ago: Microsoft's seldom-used digital yellow pages has waded into the independence referendum with the claim that Scots will vote no and the United Kingdom will be preserved. According to the world's other search engine, some 48.1 per cent of Scots will tick the Yes box, while 51.9 per cent will choose …
Jasper Hamill, 17 Sep 2014

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

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 …
Xennet process

Zennet wants YOUR machines for tradable supercomputer cloud

A group called Zennet wants to create a blockchain-managed market in which users rent out their spare processor cycles for a closed-shop crypto-currency. The idea is a combination of two streams of thought: SETI@home and Bitcoin. From SETI@home and other similar setups that have followed in its footsteps, Zennet wants to create …
Scrooge McDuck

Boffins build FREE SUPERCOMPUTER from free cloud server trials

Researchers Rob Ragan and Oscar Salazar have built a free LiteCoin-mining botnet that generates $US1750 a week using free cloud signup promotions. The pair will outline the exploit at Black Hat next month, but have blabbed to Wired about how they used automatic tools and processes to spread a currency-mining botnet across some …
Darren Pauli, 25 Jul 2014

Queensland man arrested on charges including Bitcoin theft

Back in March, a man from the Queensland town of Kingaroy identified by News Limited as Shane Duffy was charged for breaching the systems of Riot Networks.Those attacks included copying files and briefly hijacking the company's Twitter account, and in April, a Maryborough magistrate confirmed bail conditions that forbade him …
The Winklevoss twins, Cameron and Tyler

Winklevoss twins eye up NASDAQ: Publicly traded Bitcoin fund... what could go wrong?

The Winklevoss twins have set out plans to list their Bitcoin trust exchange on the NASDAQ to create what would be the world's first publicly traded cryptocurrency biz – if it were approved. The news comes just two days after the SEC issued an investor alert warning the public about the risks of virtual currency investments. In …
Jasper Hamill, 09 May 2014

People's Bank of China bans Bitcoin over 'drugs and guns' trade fears

China has banned its banks from using Bitcoin after warning the cryptocurrency could be used to fund terrorism. Financial institutions in the Middle Kingdom will no longer be able to use Bitcoin, although citizens are free to spend the digital funny money. The People's Bank of China announced its decision in a statement …
Jasper Hamill, 05 Dec 2013
The Register breaking news

Man says he lost $500,000 in virtual currency heist

Leaders of the open-source virtual currency project known as Bitcoin say they have no way to verify one user's claim that hundreds of thousands of dollars worth of digital coins were plucked from his computer earlier this week. Rumors of the heist have been swirling since Monday, when a Bitcoin user named Allinvain claimed 25, …
Dan Goodin, 16 Jun 2011

Bitcoin is GREAT and SAFE, says, er, the Bitcoin Foundation

Web Summit Bitcoin will have its biggest impact in unstable regimes and foreign currency transfers, according to the Bitcoin Foundation's chief scientist Gavin Andresen. Speaking at Web Summit 2014, the head boffin said the online virtual current offered a great way to sidestep unstable government-issued currencies when they were suffering …