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On Tuesday March 25, in what is really their first substantive ruling on Bitcoin, the Internal Revenue Service (IRS) has finally decided how the currency will be taxed. The IRS has concluded that Bitcoin will not be taxed as a currency, but rather: "For federal tax purposes, virtual currency is treated as property."
One of the more interesting Bitcoin exhibits we saw was that of KryptoKit. One of the largest problems with Bitcoin - and one of the largest barriers for skeptics - lies in the structure and utility of the various wallet systems/software. They are often clunky, and making or receiving a payment often takes an awful lot of copying and pasting. No more.
During CES we got a chance to talk Bitcoin and e-commerce with Michael Handerhan, the founder and CEO of Bitcoinshop. As the name suggests, Bitcoinshop is an e-commerce site that specializes in just about everything one could need, and for your convenience they only take virtual currency Bitcoin. According to Handerhan, his site has taken [...]
Some pretty interesting news came out of MIT on Tuesday. The MIT Bitcoin Club - the fact that there is such a club is news in and of itself - "raised half a million dollars for a project to distribute $100 in bitcoin to every undergraduate student at MIT this fall."MIT Bitcoin Club, "Announcing the [...]
It’s a brave new world for merchants: using digital currencies that bypass traditional payment systems. Also termed as ‘cryptocurrencies’, these alternatives to cash include a series of numbers that can be traded over the internet for goods and services. These currencies have suffered a few security setbacks since they came on the horizon; however many [...]
Bitcoin has taken the world by storm. It seems every time you reload a tech related web page there is something new about Bitcoin, today is no different. A lot of people have heard the term Bitcoin. They may even had heard that at some points the value of one Bitcoin can be over $1000, [...]
It seems these days no matter what tech sites you read or what's going on in the world, there is some kind of daily news about the virtual currency Bitcoin. Bitcoin is very popular because of it's anonymous nature. At the same time it's very scary for some because they hear about insane fluctuations and [...]
During the last weekend in January 2014, the 24-26, TheStreet - a media company that focuses on financial matters - conducted a survey of more than 1000 individuals. The topic of this survey was Bitcoin, or rather what these individuals thought of the currency. The results were pretty astounding. A whopping 76% of those polled had no idea what Bitcoin even was. Only 2% of those polled owned any Bitcoin, and 38% of resoindents though that Bitcoin hurt the value of the dollar.
Earlier this month we reported that Bitcoin, the virtual currency, received a vote of confidence in a recent report from Bank Of America. While that didn't start a huge surgence of Bitcoin commerce on a general public level, hearing about new companies accepting Bitcoin has become a weekly ritual. Just before the Bank Of America [...]
Bitcoin was most definitely all the rage at CES 2014. We saw some great companies that are utilizing the private, digital currency in e-commerce, as browser plugins and even creating social networks around it. So with all the talk about Bitcoin and all that we've written about it, I wanted my own Bitcoin account. I [...]
(photo: USAToday/Gannet) The Sacramento Kings have been struggling to stay right where they are, in the state capital of California. They're one of four NBA teams in the state, amongst the LA Lakers, LA Clippers and Golden State Warriors. In fact they are only 90 minutes away from the Warriors, which of course [...]
Texas Congressman Steve Stockman and Bitcoin Center founder Nick Spanos (photo: The Bit Pages) We've head time and time again about politicians and elected representatives turning to new technologies to power their campaigns. The social and political power of Twitter was shown to the world in the 2008 Presidential election and again in [...]
On Thursday, Bank Of America, the largest bank in the U.S, released a research study on the digital currency, Bitcoin. What began as a way to purchase drugs, guns, hookers and porn, anonymously, continues to get mass market validation. Earlier this week we reported that online wireless accessory giant, Mobile Nations, added Bitcoin to their [...]
Our friends over at Mobile Nations have always been innovators. They were responsible for one of the biggest, and earliest, independent Blackberry blogs, Crackberry. They were also early on the scene with an Android website in Android Central. And one thing I keep bringing up in conversation with industry folks is that Mobile Nations was [...]
While most of the world was in shock at the 109 yard failed field goal return by Auburn cornerback Chris Davis, in accordance with NCAA rules he won't receive any money for his Iron Bowl performance. However, the student holding up the sign in the picture above used the Iron Bowl to make $25,000 via [...]
Bitcoin mining has become a hot topic as the value of the digital currency continues to fluctuate. Just what is bitcoin, and how do yo mine it? This video, created by Academic Earth, sheds light on the process.
On Monday, after months of speculation, Circle finally opened its Bitcoin service to the world. The goal of the initial launch, as outlined by the company's CEO Jeremy Allaire, includes: Create an experience that is fast, beautiful, and enjoyable to use. Online banking applications stink. We wanted an elegant design aesthetic that would appeal to digital [...]
As more and more of the world has become familiar with the virtual currency Bitcoin, it has gained acceptance from several industries, popular websites and users. While Bitcoin allows anonymity when paying someone and has little or no regulation, the virtual currency is very volatile with values ranging in the hundreds to sometimes over $1,000 [...]
We've done a good amount of reporting on the virtual currency Bitcoin over the past few years here at Techfaster.com We've seen the virtual currency take a stride at becoming more mainstream with Overstock.com, Dish Networks and Expedia adopting bitcoin as a method of payment. Even our friends at Mobile Nations allow you to buy [...]
Today, Expensify - software provider that makes, "expense reports that don't suck" - announced that they will now support Bitcoin (BTC) as a reimbursement option
