New Australian Laws State Bitcoin Is Not A Currency

Australia has declared it will require taxes on Bitcoin since it is not specified as a “currency”. Australia’s GST covers goods that can be supplied and sold – excluding currencies. This means that in Australia, you can exchange currencies and purchase foreign currencies, but when buying Bitcoin, you will now lose money through Australia’s new

Bitinstant Founder Charlie Shrem Receives 2 Year Prison Term

(Reuters) – Charlie Shrem, an outspoken supporter of bitcoins, was sentenced to two years in prison on Friday for indirectly helping to send $1 million in the digital currency to the Internet black-market bazaar Silk Road. Shrem, a former vice chairman of the Bitcoin Foundation, was also ordered by U.S. District Judge Jed Rakoff in

ChildFund Announces Bitcoin Acceptance

The non-profit organization, ChildFund International, has provided support to those in need for the past 75 years. The charity serves as a platform through which people can support the education, healthcare, job training, and individual development of young people from ages 1 to 24 years of age. And although the idea of using Bitcoin as

Time Inc. Deal Promises to Ratchet Up Firehose of Selling Pain for Bitcoin

On Tuesday, Time Inc. announced that it would begin accepting Bitcoin payments for certain magazine subscriptions. This means the massive stream of merchant selling pressure, recently intensified by the Microsoft announcement, has just grown by another order of magnitude. Lynne Biggar, the executive vice president for consumer marketing and revenue at Time Inc., said in

Communist China Discovers Cryptocurrency Works Like Kryptonite

It’s a bird… it’s a plane… it’s Bitcoin! Not only did Satoshi Nakamoto create bitcoin, but he might have invented a currency that works like a communist Kryptonite. It’s beginning to look as if China might be giving up its goal of banning the popular digital money. Former vice-governor of China’s Central Bank, Wu Xiaoling,

Why the Bitcoin Markets Didn’t Rally on the Microsoft News

There’s a perfectly good reason why the markets didn’t “take off” this week when Microsoft revealed that it would begin allowing customers to fund their accounts using bitcoin. The massive tech giant’s integration is sure to bring new and substantial selling pressure to the digital currency. Seasoned bitcoin traders treated the news like a frozen

Bitreserve Lets Bitcoin Users Gamble on Gas Prices

Bitcoin, the world’s most precious cryptocurrency, and oil, one of nature’s most precious resources, have been given the unique opportunity to fuse together. Bitoil from the creators of Bitgold (which allows users to invest in gold with their Bitcoin) has hit the markets, allowing users to purchase oil as a commodity. Starting in 2015, this

New Company Earns Buckets of Bitcoins By Mailing Boxed Poop

A new company calling itself, ShitExpress, is making big bucks by allowing people to order a box filled with horse poop and send it anonymously to any victim in the world. And paying with Bitcoin ensures 100% anonymity of the buyer. According to a blog post on the company’s website, in one 30-day period, the

Startup Looks to Take Crypto Development to the Masses

Over the past 18 months, the digital currency community has seen an exponential growth in the number of altcoins coming to market. Unfortunately, many of these coins have crashed and burned at the hands of green developers new to the industry of cryptocurrency. So a young tech startup was built to lend a steady hand

Bitcoin Stock Exchange Operator Fined by SEC

According to an order issued by the Securities and Exchange Commission, Ethan Burnside and BTC Trading Corp actively solicited the public to open accounts by advertising the websites for both of his stock exchanges on Bitcointalk.org and other forums dedicated to virtual currency. The SEC today sanctioned the computer programmer for operating two online exchanges