Bitcoin Turns 5 Today

The Washington Post gives an interesting timeline of the rise of Bitcoin. Bitcoin was launched 1-3-2009 by Satoshi Nakamoto.

Read More Here:

Five years of Bitcoin in one postThe world’s first fully decentralized cryptographic financial network, Bitcoin, launched five years ago today. The years since then have been a wild ride. The currency’s value has risen from nothing to billions of dollars, and millions have been invested in Bitcoin-related startups. Here’s a brief synopsis of Bitcoin’s most important milestones.

Embedly Powered

Photo Credit:

Bitcoin Exchanges In India Shut Down

Following in China’s lead, India’s banking regulator warned users of security and financial risks associated with virtual currency. The Reserve Bank of India (RBI) Had the following to say:

“There have been several media reports of the usage of VCs, including Bitcoins, for illicit and illegal activities in several jurisdictions. The absence of information of counterparties in such peer-to-peer anonymous/ pseudonymous systems could subject the users to unintentional breaches of anti-money laundering and combating the financing of terrorism (AML/CFT) laws”

Read more at TechCrunch:

Bitcoin Exchanges In India Shut Down After Regulator WarningBitcoin exchanges in India are shutting down days after the country’s banking regulator warned users of virtual currency against security and financial risks associated with them. The Reserve Bank of India (RBI) had remained silent on Bitcoin over the past few weeks, even as China started clamping down on the exchanges, sending the virtual currency into a downward spin earlier this month.

Embedly Powered

$147 m Worth of Bitcoin Shifted Today

Today an anonymous user shifted 194,993 Bitcoins, worth $147 million dollars (measured by the BPI). However, the transaction was not an exchange for currency. Could this be the force behind todays gains?

Maybe, but lets think of this in reverse. Is this a move by someone or some entity to dump a large amount of BTC? If so can we expect a dramatic price correction? The next few days should be interesting to watch.

The transaction can be seen here:


Screen shot 2013-11-22 at 8.17.11 PM

The Bitcoin Bubble

Very interesting take on Bitcoin as an asset vs. a currency: “Bitcoin is less like the dollar and more like gold—an investment asset more than a transactional currency.”

Further, “The Chinese have the right idea. They’re stockpiling it the way you’d store value in gold, real estate, equity, or stocks. They see it as another asset class.”

And  this makes sense as we watch the skyrocketing value of Bitcoin in 2013.

Read more here:

What The Bitcoin Bubble Really Says About The CryptocurrencyBack in October, I bought $20 worth of Bitcoin for a ReadWrite article. Since then, I’ve watched my meager 0.119 coins soar in value. When my stash peaked at $71 this week, I determined to sell out. I settled on buying a gift card from, which handles Bitcoin payments through BitPay.

Embedly Powered

Pay College Tuition with Bitcoin

If you live in  Cyprus you can now pay for your college education in Bitcoin.

Now you can pay college tuition with BitcoinThe University of Nicosia in Cyprus today announced that it will accept payments from students in Bitcoin, making it the world’s first accredited university to do so. The move doesn’t come as a huge surprise, as the island nation of Cyprus has been closely linked with Bitcoin this year.

Embedly Powered

U.S. Regulatory Officials See Worth of Bitcoin

Authorities said they see the benefits of bitcoin, pushing prices to a recordWASHINGTON-Senior U.S. law-enforcement and regulatory officials said they see benefits in digital forms of money and are making progress in tackling its risks. The price of bitcoin, the most common virtual currency, soared to a record following the comments. U.S.

Embedly Powered

via Wsj

Bitcoin swings from $900 to $502 (11-19-13)

Bitcoin drops to from $900 to $502 as swings widenMADRID (MarketWatch) — Volatile trading for bitcoin continued Tuesday, with prices swinging between $900.98 at their high-water mark and $502.62 at the lower end. The most recent trade was at $647. Earlier, bitcoin swung between $900 and the $700 vicinity. Some positive comments about virtual currencies at a U.S.

Embedly Powered

16 Bitcoin Millionaires


The 16 Most Important BitcoinairesBitcoin, the exclusive and elusive controversial cybercurrency is, by its very nature, mysterious. Holders of the currency, which just hit $900 in value yesterday and which only 12 million are in existence, are only identifiable by their “brain wallet” number. As a result, tracking down who’s getting rich off the rapidly rising currency is beyond difficult.

Embedly Powered

Bitcoin $645 (11-18-13)

Bitcoin $645? Yeah, That’s Totally ReasonableBitcoin, the cryptocurrency on everyone’s mind, is booming in value. Currently trading around $645 per coin, it has never been worth more, or generated more headlines that I can recall. The two are likely connected. If you can remember April, Bitcoin enjoyed a firm rally, spiking to around $275 per coin on the Mt.Gox market.

Embedly Powered

BERNANKE: Bitcoin ‘May Hold Long-Term Promise’

BERNANKE: Bitcoin ‘May Hold Long-Term Promise’The beautiful thing about Bitcoin, digital currency enthusiasts will tell you, is that it doesn’t have a central bank.So with eyes on today’s Bitcoin Senate hearing, where does the world’s most powerful central banker stand on the elusive cryptocurrency? Now we know. Ahead of the meeting, U.S.

Embedly Powered