Extinct Bitcoin exchange Mt. Gox files for liquidation instead of bankruptcy

By Ugene CheungNews

The troubled Japanese Bitcoin exchange Mt. Gox has announced it is now filing for liquidation instead of trying to rebuild the company under bankruptcy protection. The exchange released a statement this Wednesday (16) explaining the decision: “the Tokyo District Court recognized that it would be difficult for the company to carry out the civil rehabilitation…

April 17, 2014

Details

Survey Says: Bitcoin Magazine is Considering Categories

By Ugene CheungNews

  Note: There is a poll embedded within this post, please visit the site to participate in this post’s poll. Bitcoin Magazine is currently considering breaking up the magazine into categories. The motivation for this is a desire for our readers to know what section they are in without looking at the table of contents.…

April 17, 2014

Details

CNBC Explores Bitcoin

By Ugene CheungNews

CNBC.com has released their digital documentary “The Bitcoin Uprising” this morning. The documentary follows cnbc.com reporter Mary Thompson into the world of bitcoin, from home-based mining operations to the deep web.  Thompson and one of her producers, Karina Frayter, decided to create this piece after realizing that a 1-minute ‘hit’ (or story) on the currency…

April 16, 2014

Details

Side Chains: The How, The Challenges and the Potential

By Ugene CheungNews

Disclosure: the author of this article is the founder and Chief Scientist of the Ethereum project Last week, Adam Back and Austin Hill came out with an announcement on Let’s Talk Bitcoin, in which they announced their newest project: “sidechains”. The idea, they described, would allow for the existence of alternative blockchains, perhaps with different…

April 16, 2014

Details

Bitcoin & Money

By Ugene CheungNews

  Rome wasn’t built in a day, and today’s money mechanics certainly didn’t come in a single treaty.  Our global financial system, like any human system, is not perfect and can be outright cruel and inhumane.  We have witnessed injections and bailouts for some, and austerity and social benefit cuts for the poor- that’s money…

April 16, 2014

Details

Weaving Is A Better Metaphor for Bitcoin, Instead of Mining

By Ugene CheungNews

In order to create a broad appeal for the concepts behind cryptocurrencies clear communication is crucial. Some of the terminology used in describing Bitcoin has been widely accepted, and taken as a given, almost unchangeable feature of cryptocurrencies. Other, more precisely codified components of the protocol can be changed as long as there is consensus around…

April 16, 2014

Details

This American photographer has a new project inspired by Bitcoin

By Ugene CheungNews

Megan Miller is the name of the Los Angeles-based photographer that recently decided to kick-off a new project inspired by the world’s most famous digital coin. But how can you take a picture of a currency that doesn’t have a physical existence? Well, that is exactly the point. Miller is not exactly photographing Bitcoins, but objects…

April 16, 2014

Details

Bitcoin exchange BTC-e affected by DDoS attack

By Ugene CheungNews

The world’s second-largest Bitcoin exchange, BTC-e, suspended trading this Sunday (14) for brief instants after its servers suffered a strong DDoS (distributed denial of service) attack.  To avoid any speculation – especially after the Mt. Gox and Neo & Bee cases -, the exchange quickly confirmed the attack and dismissed all rumours. BTC-e published an announcement…

April 16, 2014

Details

Bringing Bitcoin to the Middle East – Cointalks Dubai

By Ugene CheungNews

Weeks ago, it seemed that Dubai may have been turning into a major Bitcoin hub. An image released on various social media platforms and news sources depicted upwards of 400 Bitcoin ATMs in a warehouse, with headlines like “Dubai About to Roll Out 400 Bitcoin ATMs.” However, later that week, the UAE Department of Economic…

April 16, 2014

Details

The Gatekeepers

By Ugene CheungNews

This post was released for Issue 19 of Bitcoin Magazine as part of a series of  articles about puzzles and games that started with Issue 12. This series of puzzles and games was inspired by a talk given by the founder of the Pirate Party, Rick Falkvinge, at the European Bitcoin Conference in Prague on…

April 14, 2014

Details