Bitcoin 'Pirate' scandal: SEC steps in amid allegations that the whole thing...
A suspected Ponzi scheme involving the online currency Bitcoin has unravelled, and I can reveal that it has drawn the attention of the American Securities Exchange Commission (SEC). Bitcoin is a...
View ArticleThe online drug marketplace Silk Road is collapsing – did hackers, government...
At 6am this morning, I got an email from one of my sleazier contacts. It simply said "looks like Silk Road has collapsed". I fired the Tor browser you need to connect to the site and, indeed, it wasn't...
View ArticleSo how much was Silk Road worth?
One of the most fascinating twists to come out of the bust of the drug dealing website the Silk Road was the final confirmation of just how much money the site was making. It's far more than anyone...
View ArticleBitcoin has been hijacked by speculators. Are we looking at a Ponzi scheme?
The price of Bitcoin fell below $900 at the end of last week. In the week before that it rose to $1200. A month ago it was $300. Trying to explain why this is happening with any semblance of...
View ArticleOne day Amazon will accept Bitcoins. That's when central banks and...
"The internet is going to be one of the major forces for reducing the role of government. The one thing that is missing …is a reliable e-cash, a method by which on the internet you can transfer funds...
View ArticleWe're seeing something like the first Bitcoin bank failure
So, it looks like MtGox, which was last year the biggest Bitcoin exchange by volume, is in the final stages of the world's first major online bank failure. I've always been suspicious of MtGox. The...
View ArticleCould a crypto-currency like Bitcoin help child pornographers evade police?
The crypto-currency Bitcoin has always had a hint of criminality about it. Because it is peer-to-peer, encrypted and quasi-anonymous, Bitcoin transactions are hard to trace. This is why it was the...
View ArticleHow Bitcoin can transform the developing world
Bitcoin, the decentralised crypto-currency, is slowly shaking off the lingering whiff of criminality. Its association with (especially) online drugs markets like the Silk Road and radical anarchists is...
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