While a bit concerning to many and troublesome for even more, bitcoin isn’t illegal. It’s also been deemed a commodity, tradable if you can find a partner who wants to swap virtual coins for goods. In what can be seen as a bit of a reversal in their stance on bitcoin, Apple has updated their App Store review guidelines to be a touch more specific about bitcoin apps.
A new category for digital items has been added to eBay making waves because of the trading potential it brings to the marketplace. The category in question is “Virtual Currency”, which will make selling Bitcoins, dogecoin, crypto currency miners, and mining contracts an easy task.
Malware that aims at infecting computers and turning them into bitcoin miners isn’t something new. However, a new piece of malware has surfaced that aims to turn hardware you might not think of getting infected into bitcoin mining drones. A new report has found a malware that infects DVRs. One of the binaries in the malware is D72BNr and the bitcoin mining portion of the malware is mzkk8g.
Among the issues surrounding Bitcoin, the question of how it should be handled when it comes to taxes has been oft-asked with no answer in sight. That ends today, with the IRS passing an important ruling that -- for the purposes of taxation -- labels the cryptocurrency as property, not a currency.
Bitcoin has had a bit of a rough time the last few months. The virtual currency was soaring in popularity until one of the major Bitcoin exchanged stopped withdrawals back in February. Mt. Gox ended up filing bankruptcy and admitting it has lost tens of thousands of bitcoins. Last week Mt. Gox found 200,000 of those bitcoins in an old wallet.
BitTorrent and cloud downloader app FrostWire has become the first open source torrent app to tie the distributed download system with Bitcoin, using the Canadian band 'Aint No Love' as the hook. The service provider has just debuted its in-client Bitcoin tipping feature, allowing fans to pay the band what they think its music is worth.
You might think a bitcoin exchange that was doing as much business at Mt. Gox was at one time would have a system in place that would allow it to keep track of where exactly all the bitcoin it was holding for customers was. That would be an incorrect assumption though after the firm admitted to having lost about 850,000 bitcoins during its operations.
Bitcoin is one of the most popular virtual currencies out there and the world surrounding bitcoin has been very turbulent over the last few months. One of the most popular bitcoin services called Mt. Gox filed bankruptcy taking with it the virtual coins of many users. The biggest news in the Bitcoin realm came from Newsweek when it ran a story claiming that Dorian Satoshi Nakamoto was the creator of the virtual currency.
The story spinning around Mt Gox, Mark Karpeles and Jed McCaleb and their alleged Bitcoin fraud has enough spice in it to be called Daytime Soap. Each day brings in new twists and turns to the plot and has all of us hanging on the edge of our seats. The latest development in the story is that folks in Canada and the U.S. have filed a class-action suit for fraud that kind of negates Mt Gox’s bankruptcy blanket for the moment.