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Silk Road Arrests Bitcoin

Eight more arrested in Bitcoin drug den bust

October 9th, 2013

Buying and selling illegal drugs on the Internet using a virtual currency isn’t as fun as it used to be. The Associated Press, via NPR, reports that law enforcement officials in the United Kingdom, Sweden and the United States have arrested eight more individuals who have connections to Silk Road, the now-shuttered online drug den …

Silk Den Founder Arrested

Bitcoin bust: Feds break up country’s largest Bitcoin drug ring

October 2nd, 2013

It’s a shame that Breaking Bad had to end before we could see what would have happened if a distributor had tried to pay Walt and Jesse using Bitcoins. CNN reports that federal officials have arrested Ross William Ulbricht, the alleged mastermind behind Silk Road, the notorious Bitcoin-accepting Internet drug den. CNN says that Ulbricht has been indicted …

Mt. Gox Bitcoin Accusations

World’s largest Bitcoin exchange accused of violating U.S. financial law

May 16th, 2013

Things have been very up-and-down for Bitcoin lately and the virtual currency’s road coud be getting even rockier now that the United States federal government is getting involved. IDG News reports that the U.S. District Court in Maryland this week order the seizure of Bitcoin exchange Mt. Gox’s funds because it allegedly “failed to register as a …

Bitcoin Taxes

Will the IRS take a bite out of Bitcoin?

May 10th, 2013

Bitcoin is a good way for people to conduct business off the grid, but the free ride may soon come to an end. Everyone’s favorite virtual currency has been on quite a wild ride over the past few weeks. The mainstream media finally caught wind of Bitcoin and curious parties sent it skyrocketing to $220 …

Silk Road Blackmail Allegations

Bitcoin drug den wants police help in arresting alleged blackmailer

May 1st, 2013

For reasons that are likely attributable to excessive use of illicit substances, online Bitcoin-accepting drug den Silk Road thinks that police will jump at the chance to help it track down an alleged blackmailer who is threatening to shut the site down unless he gets paid a certain amount of money. The Telegraph reports that Silk …

Bitcoin Exchange Failure

Study shows 45% of Bitcoin exchanges end up failing

April 26th, 2013

Imagine a world where the Nasdaq, the Nikkei and the FTSE all failed within the span of a week and you have an idea how crazy the world of virtual currency trading has become. Wired reports that a new study from computer scientists Tyler Moore of the Southern Methodist University in Dallas and Nicolas Christin of Carnegie …

Bitcoin Margin Trading

Startup gets funding to bring high-risk margin trades to Bitcoin

April 9th, 2013

If you thought the Bitcoin market was crazy before, just wait until traders get the ability to make leveraged bets on the virtual currency’s future price. From the what-could-possibly-go-wrong department, TechCrunch reports that New York-based startup Coinsetter has received $500,000 in seed funding to set up a Bitcoin trading platform that will allow for high-risk …

Bitcoin Retirement Investment

Reddit user claims to have invested ‘entire retirement and savings’ in Bitcoin

April 5th, 2013

Do skyrocketing Bitcoin prices mean that the virtual currency is in the midst of a speculative bubble? Don’t tell that to Reddit user anon_bitcoin_gambler, who claims to have invested his “entire retirement and savings” in Bitcoin. The user, who has so far refused to reveal his identity, says that he is “quite poor” at the moment …

BitCoin Price Increase

As Bitcoin prices surge, worries about a speculative bubble mount

April 2nd, 2013

Prices of virtual currency Bitcoin have been absolutely surging lately but one analyst thinks such a rapid rise is more indicative of a bubble than a genuine boom. ConvergEx Group Chief Market Strategist Nick Colas tells Business Insider that the reaction from his clients “has been pretty uniform: it must be a bubble.” Colas goes on …