http://www.reuters.com/article/2014/08/29/us-usa-crime-bitcoin-idUSKBN0GT2J420140829Bitcoin entrepreneur Charlie Shrem has reached a plea deal to resolve U.S. charges that he engaged in a scheme to sell over $1 million of the digital currency to users of illicit online marketplace Silk Road, his lawyer said Friday. Shrem, the former vice chairman of the Bitcoin Foundation, will plead guilty next Thursday in New York federal court to unlicensed money transmission, Marc Agnifilo, his lawyer told Reuters in an email.
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http://www.investopedia.com/articles/investing/082914/basics-buying-and-investing-bitcoin.aspBitcoin (BTC) is a decentralized cryptocurrency payment system designed by Satoshi Nakamoto. The software-based currency was released to the public in 2009. Since then, updates and improvements have been made by a network of developers, partially funded by the Bitcoin Foundation. It was not until 2013 that Bitcoin became a hot topic of interest. The virtual currency gained over 300% from 2011 to 2012 and since August of last year, Bitcoin has increased in value around 400%. While its recent performance has been lackluster, (down around 34% since January 1st), venture capital firms and investors around the world continue to bet on the cryptocurrency.
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http://www.zdnet.com/bitcoin-mining-gives-digitalbtc-0-6m-in-underlying-profit-7000033116/Just over a quarter of a year after completing its reverse takeover of Macro Energy, DigitalBTC has posted its first yearly results, with the underlying numbers showing that there is money to be made in the non-existent hills. For the three and half months that it has been operating as a "significant" bitcoin-mining operation, DigitalBTC posted an underlying net profit after tax of $0.6 million on revenue of $4 million and earnings before interest, tax, depreciation, and amortisation (EBITDA) of $2.5 million.
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http://blogs.wsj.com/moneybeat/2014/08/27/bitbeat-more-people-know-about-bitcoin-but-few-willing-to-use-it/While awareness of cryptocurrencies is rising, very few people have actually used them. A new survey, from the Conference of State Bank Supervisors and the Massachusetts Division of Banks, found that 51% of people in the U.S. were aware of bitcoin and other currencies, albeit only about 3% had said they used it. Still, that’s a big change from earlier this year. Back in February, another survey found that about three-quarters of the population hadn’t heard of bitcoin, and 80% said they’d never even consider using it.
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https://www.straight.com/blogra/714201/newegg-starts-accepting-bitcoin-canadaAlmost two months ago, Newegg became one of the latest online retailers to start taking payments with the digital currency—but only in the U.S. Starting today (August 26), Newegg, which sells electronics, is extending this payment option to its Canadian customers. "Newegg is deeply committed to growing its business internationally - serving customers overseas, introducing new products from key Asian markets and evolving the way we transact with our global customer base," Soren Mills, chief marketing officer of Newegg North America, said in a news release. "Extending bitcoin acceptance to our Canadian customers is yet another important milestone as we build the company's international presence."
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http://www.androidheadlines.com/2014/08/knc-wallet-bitcoin-gets-updated-easy-person-person-payments.htmlIf you primarily like to deal with things using digital currency, then it’s imperative that you have a digital wallet that matches your needs. One of the more popular digital forms of currency that gets used on a daily basis and is now even being accepted at some local businesses, is Bitcoin. One of the more popular Bitcoin applications designed specifically to give users easy access to their Bitcoin funds is KnC Wallet, and they have just announced the latest update which comes with some great new features that will serve a useful purpose to new and old users of the app alike. If you’re not already using a Bitcoin wallet app but you have Bitcoin currency in possession, KnC Wallet is worth a look. The app is free to use and free of ads as well, a loveable feature that anyone should appreciate.
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http://www.coindesk.com/australian-government-portal-publishes-bitcoin-business-guidelines/The Australian government’s online business information portal has published a “Bitcoin for business” page to advise operators of their tax and other regulatory obligations. As well as a basic explanation of what bitcoin is and how it works, the business.gov.au page also features sections on accepting bitcoins, tax implications, risks, and paying employee salaries with digital currency.
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http://techcrunch.com/2014/08/25/korean-bitcoin-exchange-korbit-raises-3m-series-a/Korean bitcoin exchange Korbit has raised $3 million in Series A funding led by SoftBank Ventures Korea and Pantera Capital, with participation from BAM Ventures, and returning investors Bitcoin Opportunity Corp., Tim Draper, Pietro Dova, and Strong Ventures. The startup told TechCrunch that it will use its Series A to improve the quality of its products and services and make additional hires.
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http://www.cityam.com/1408996835/100000-bitcoin-lost-cannabis-road-hackCannabis Road is now offline, and those trying to get onto the website will be greeted with a message informing visitors about the hack and how the developers intend to proceed. Lead developer for Cannabis Road, Crypto, said the attack was discovered around 10:15am UTC after logging into its Bitcoin wallet and seeing the balance had dropped to near zero.
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http://www.coindesk.com/stability-taxes-bitcoin-replacement-gold/Given that the design of bitcoin’s peer-to-peer system was partly inspired by gold, it’s not a surprise that many bitcoin enthusiasts are also fans of the precious metal. Both gold and bitcoin are scarce commodities used as stores of value by those who might be distrustful of fiat currencies. The bitcoin community has long been interested in courting gold users – Ripple, for example, recently introduced gold trading to its platform. Even so, gold enthusiasts have not always been bitcoin champions. Some even go so far as to vocally oppose bitcoin as an investment vehicle.
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http://www.coindesk.com/transport-velocity-bitcoin-replacement-gold/Gold has been used as a store of value for eons, thanks to its beauty and almost magical ability to never tarnish. Furthermore, despite radical shifts in human values over the past 100 years, its worth still has not diminished – even soaring to over $1,000 an ounce in recent times.
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http://www.forbes.com/sites/ericxlmu/2014/08/24/why-there-should-be-a-bitcoin-central-bank/It is no secret that today, almost all modern banks operate on the basis of fractional reserves. To put in simpler terms: banks only has in their vaults a small percentage of the money that their customers gave them; if a large enough number of customers of a specific bank want to get their money back, the bank wouldn’t be able to meet the demand. Before there was modern central bank system, the bank could either have to borrow or file for bankruptcy.
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http://www.coindesk.com/bitpay-espn-bitcoin-bowl-sponsorship/BitPay executive chairman Tony Gallippi announced today that his company paid for its upcoming college football bowl game sponsorship in bitcoin. The surprise news came at a press conference held by BitPay and the St. Petersburg Chamber of Commerce to promote the upcoming Bitcoin St. Petersburg Bowl.
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