Remember that $70k Tesla car which was bought for Bitcoin last December and which the Bitcoin PR-lobby spun with grand fanfare into an excellent example of “user adoption”?
Well, turns out, it was bought by one Blake Benthall, a former SpaceX software engineer turned custodian and alleged operator of the illicit goods cyber trafficking site Silk Road 2, which sprung up in the wake of the Feds’ take down of the original site and following the arrest of its founder and operator Ross Ulbricht a.k.a the original Dread Pirate Roberts (DPR). Read more
This is the latest Bitcoin price chart:
A major exchange for Bitcoin — Mt.Gox — was hacked last week.
The cyber-attack sent the virtual currency’s exchange rate temporarily reeling from about $17.50 to pennies. More importantly it sparked some fresh concern about Bitcoin’s reliability and security. Read more
Someone calling themselves George Clooney appears to have roiled the Bitcoin market, the virtual currency, reports FT Alphaville. Having recently gained some mainstream prominence and become the world’s fastest appreciating currency, Bitcoin has had to contend with political scrutiny, a Black Friday and now — a hacker-induced flash crash, of sorts. The attack on the MT.Gox exchange sent the virtual currency plunging from about $17.50 in worth to just pennies in a few hours, with an estimated $40m worth of bitcoins and more than 60,000 (MD5-encrypted) accounts involved. Some bitcoin participants believe the hacker may have been trying to bypass the daily withdrawal limit put into place by Mt.Gox, but for now the motives remain unclear. Read more
When we first mentioned Bitcoin — the virtual currency — it was hovering at $8 against the US dollar.
Last week it reached $28. And we first mentioned Bitcoin last Monday — seven days ago. Read more
What happens when you cross computer geeks with populist outrage at central banks?
Bitcoins happen. Read more