bitcoin

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Bitcoin Price Tumbles as S. Korea Discusses Ban

Other digital currencies also dropped

(Newser) - Prices of bitcoin and other digital currencies skidded Tuesday after South Korea's top financial policymaker said a crackdown on trading of cryptocurrencies was still possible, the AP reports. Finance Minister Kim Dong-yeon said in an interview with local radio station TBS that banning trading in digital currencies was "... More »

Warren Buffett Thinks Bitcoin Will End Badly

Cryptocurrency falls on talk of South Korea ban

(Newser) - Warren Buffett's advice on bitcoin and other cryptocurrencies can be summed up in two words: Stay away. In an interview with CNBC on Wednesday, the billionaire Berkshire Hathaway investor said that "in terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a... More »

Kodak Got Its Stock to Triple by Using Some 'Hot Buzzwords'

The one-time film company is creating its own cryptocurrency 'because 2018'

(Newser) - Time was, when flagging companies wanted to appear hip they would give a mascot sunglasses and a skateboard. Well, it appears blockchain and cryptocurrency are the new sunglasses and skateboard. Following on the heels of Long Island Ice Tea Corp., which changed its name to Long Blockchain Corp. in December,... More »

Why a Tech Pioneer's $59B Fortune May Be Fleeting

Ripple CEO Chris Larsen's riches may just be part of cryptocurrency 'hysteria,' analyst says

(Newser) - Chris Larsen may not be the household name that Mark Zuckerberg is, but with the amount of wealth he has (at least on paper), he may not care. Forbes notes Larsen has in his personal holdings 5.19 billion XRP tokens from his virtual-currency company, Ripple, in addition to a... More »

Bitcoin's Crazy Increases Now Mirrored by Crazy Drops

Crytopcurrency is having a very bad Friday

(Newser) - All the frenzied headlines about Bitcoin's crazy rise are starting to reverse themselves. "Plunges" and "plummets" are the common verbs Friday morning, with the price of the cryptocurrency falling more than $3,000 to below $13,000 on some exchanges before rebounding a bit, reports CNBC . That'... More »

Iced Tea Company's Stock Soars 500% After Name Change

Long Island Iced Tea Corp is no more

(Newser) - A New York-based company saw its shares spike nearly 500% in pre-market trading Thursday after announcing its new focus would be exploring and investing in the technology that underpins cryptocurrencies like bitcoin—which wouldn't be so remarkable but for the fact that it previously made a name for itself... More »

What Stands Between Guy and $127M Bitcoin Fortune: Garbage

James Howells' situation has gotten worse as bitcoin's has improved

(Newser) - When covering the story four years ago, Newser's headline read, "$7.5M Bitcoin Fortune Buried in Landfill." That fortune ended up in a Welsh landfill after James Howells threw out a hard drive over that summer while cleaning up his workspace. On it was the cryptographic "... More »

Prosecutors Scramble to Sell Seized Bitcoin

Utah suspect's cache has exploded in value

(Newser) - US attorneys in Utah prosecuting a multimillion-dollar opioid drug ring are moving quickly to sell seized bitcoin that has exploded in value to about $8.5 million since the alleged ringleader's arrest a year ago. The US Attorney's Office for Utah cites the digital currency's volatility in... More »

Cops: At Gunpoint, Man Forced to Give Cryptocurrency Info

Authorities say $1.8M in cryptocurrency was then stolen

(Newser) - With the value of cryptocurrencies soaring, authorities warn that people could be ripped off by sophisticated hackers—or by crooks using more old-fashioned methods. New Jersey authorities say Louis Meza, a 35-year-old cryptocurrency investor, lured a friend into a minivan, where a gunman demanded his keys, his phone, and the... More »

Bitcoin Futures Surge After Debut on Major Exchange

Trading began in Chicago on Sunday night

(Newser) - The first-ever bitcoin future jumped after it began trading Sunday as the increasingly popular virtual currency made its debut on a major US exchange. The futures contract that expires in January surged more than $3,000 to $18,010 four hours after trading launched on the Chicago Board Options Exchange,... More »

This Might Be the Biggest Reward Ever for Missing Pets

Michigan owners offer $100K in bitcoin after 4 felines go missing after fire

(Newser) - The owners of four cats that went missing after a house fire last month are getting reports of sightings in their Detroit-area neighborhood—and they're offering a lucrative reward to anyone who can help get one or all safely home. One odd twist: two of the cats are in... More »

As Bitcoin Hits $15K, a Warning From Dante's Inferno

It comes 12 hours after it hit $14K

(Newser) - To say it's a meteoric rise isn't too hyperbolic. Bitcoin hit $15,000 early Thursday, just 12 hours after it passed the $14,000 mark, reports Business Insider , which puts the digital currency's 36-hour increase at more than $3,000. To illustrate the massive growth another... More »

As Bitcoin Sets Record After Record, Warnings Grow Louder

The cryptocurrency hit $11K for first time Wednesday

(Newser) - What goes up must come down. CNBC reports that bitcoin passed the $11,000 mark for the first time Wednesday just hours after surpassing $10,000 for the first time. Wednesday was the sixth day in a row the cryptocurrency hit a record high, increasing its value 15%, according to... More »

JPMorgan Chase Head on Bitcoin Buyers: 'They're Stupid'

Jamie Dimon predicts big losses for the digital currency

(Newser) - Jamie Dimon says he would fire any employee caught trading bitcoin "in a second," the Guardian reports. "It’s against our rules, and they’re stupid. And both are dangerous," the head of JPMorgan Chase said at a conference Tuesday. According to Reuters , bitcoin dropped 10%... More »

Idaho Teen Becomes Millionaire to Win Bet With Parents

Eric Finman won't be going to college

(Newser) - Lesson: Never underestimate the lengths a teenager will go to in order to prove their parents wrong. The Telegraph reports Idaho teen Erik Finman, after dropping out of high school, made a bet with his parents that if he made $1 million by the time he turned 18, he wouldn'... More »

If You Invested $100 in Bitcoin in 2010, You'd Have $75M Now

Price has more than doubled this month

(Newser) - Monday was Bitcoin Pizza Day, the anniversary of the day in 2010 when developer Laszlo Hanyecz paid 10,000 bitcoins for two pizzas in the online currency's first recognized transaction. The same amount of bitcoins would be worth around $22.5 million now. The currency, which sank to $443... More »

Judge Dumps Laundering Charges, Says Bitcoin's Not Real

Virtual currency can't 'be hidden under a mattress like cash and gold bars': Miami judge

(Newser) - Bitcoins may be valuable in tech circles, but to a judge in Miami-Dade County, the virtual money is nothing more than shadow currency. On Monday, Judge Teresa Mary Pooler discarded felony charges against website designer Michell Espinoza, who had been accused of transmitting and laundering $1,500 in bitcoins—an... More »

Bitcoin's Purported Founder Won't Provide Proof After All

'I do not have courage'

(Newser) - When Australian Craig Wright publicly declared himself to be the creator of Bitcoin this week, plenty of skepticism emerged in the tech world. Wright promised to provide indisputable proof to lay those doubts to rest, but his blog post Thursday will only intensify them. "I believed that I could... More »

Bitcoin's Shadowy Creator Reveals Himself—Maybe

Craig Wright comes forward as the real Satoshi Nakamoto

(Newser) - An Australian computer scientist and entrepreneur has come forward to reveal himself as the long-unidentified founder of Bitcoin. For those who follow such things, the name will be familiar: It's Craig Wright, the man Wired magazine identified as the all-but-certain creator of the digital currency last year. Now Wright... More »

Look Out Bitcoin, Here Comes Ethereum

New virtual currency is creating a buzz

(Newser) - Bitcoin hasn't quite soared the way many had hoped it would. Perhaps Ethereum will. The virtual currency has gained interest from IBM, JPMorgan Chase, and Microsoft "as a sort of Bitcoin 2.0," reports the New York Times . Created around 2014 by a 21-year-old college dropout, Russian-Canadian... More »

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