MtGox loses over $400 Million worth of Bitcoin, Files for Bankruptcy Protection With the recent events unfolding, Tokyo-based Bitcoin exchange, MtGox is officially filing bankruptcy protection on Friday in Japan with an outstanding debt of ¥6.5 billion (or $63.6 million USD). CEO Mark Karpeles which was not been seen in public for several days has Continue reading “MtGox loses over $400 Million worth of Bitcoin, Files for Bankruptcy Protection”
Monthly Archives: February 2014
Can Bitcoin Mining still be Profitable?
Can Bitcoin Mining still be Profitable? I would go for a change and talk about Bitcoin mining instead of alternate coins, like Litecoin. There are certainly some big hype surrounding it. Bitcoin mining is different from alternate coin mining, as there are application-specific integrated circuit (ASIC) chips designed specifically for the sole purpose of mining Continue reading “Can Bitcoin Mining still be Profitable?”
Bitcoin Foundation responded US Senator on Bitcoin Ban
Bitcoin Foundation responded US Senator on Bitcoin Ban The recent move by US Senator Joe Manchin to call for a ban on Bitcoin with a formal letter to the federal regulators was not taken lightly by the Bitcoin community. Redditors suggest that the senator does not understand Bitcoin’s decentralized nature to call for an outright Continue reading “Bitcoin Foundation responded US Senator on Bitcoin Ban”
US Senator Demands Federal Regulators to Ban Bitcoin
US Senator Demands Federal Regulators to Ban Bitcoin Senator from West Virginia, Joe Manchin, has sent a formal letter to federal regulators to ban Bitcoin. His letter which was addressed to several regulatory bodies, the Federal Reserve, and the United States Treasury, went so far as to say that US consumers stand to lose by Continue reading “US Senator Demands Federal Regulators to Ban Bitcoin”
MtGox being investigated in Japan and received US subpoena
MtGox being investigated in Japan and received US subpoena CEO of MtGox, Mark Karpeles issued a short statement on Wednesday to reassure the public that he is still in Japan and has not absconded with millions of dollars of users’ Bitcoins. On the main page of what is remaining of the once biggest Bitcoin exchange Continue reading “MtGox being investigated in Japan and received US subpoena”
MtGox Trading Halted, Website Offline
MtGox Trading Halted, Website Offline Trading at the Tokyo-based MtGox was halted, and the fact that the website itself is offline spells doom. It is a known fact that MtGox has been sick for a long time. MtGox Problem MtGox users were experiencing major lag in withdrawals last year, and there are news that Continue reading “MtGox Trading Halted, Website Offline”
Harvard student caught abusing 14,000-core Supercomputer to mine Dogecoin
Harvard student caught abusing 14,000-core Supercomputer to mine Dogecoin A Harvard student has decided to utilize the processing power of a supercomputer to mine Dogecoin. The said supercomputer cluster belongs to Harvard university called Odyssey, which boasts a 14,000-core Intel Xeon architecture with over 10TB of RAM. According to The Harvard Crimson, a student Continue reading “Harvard student caught abusing 14,000-core Supercomputer to mine Dogecoin”
Central Bank of Jordan warned the public against using Bitcoin
Central Bank of Jordan warned the public against using Bitcoin In line with other central banks, the Central Bank of Jordan (CBJ) has warned the public against the use of digital currency, particularly Bitcoin. CBJ said that digital currencies are not legal tender and that investing in digital currencies carry high risks, citing severe Continue reading “Central Bank of Jordan warned the public against using Bitcoin”
Vietnam does not allow Bitcoin transactions
Vietnam does not allow Bitcoin transactions Vietnam government and the State Bank of Vietnam do not recognize Bitcoin under the currency laws. The State Bank of Vietnam has voiced out that, only the official Vietnam dong (VND) is used as a means of payment in Vietnam. The State Bank of Vietnam has sent an Continue reading “Vietnam does not allow Bitcoin transactions”
Singapore will closely monitor digital currency use in the country
Singapore will closely monitor digital currency use in the country The Deputy Prime Minister and Minister in charge of the Monetary Authority of Singapore (MAS), Tharman Shanmugaratnam has announced on February 21 that MAS will be closely monitoring digital currency use in the country. In reply to the question of a Parliament member, Mary Continue reading “Singapore will closely monitor digital currency use in the country”