The ascent this year of Bitcoin, a virtual currency forged through hardcore mathematics and buoyed by promises of financial liberation from banks, has been nothing short of mesmerizing.
The price of a single bitcoin reached US$1,000 Wednesday, possibly demonstrating a new level of interest -- some might say mania -- for the digital currency that earlier this year was trading for a measly $30.
Bitcoin scored several big wins this week, including endorsements from U.S. federal officials and Virgin Group founder Richard Branson, signalling its progress toward wider acceptance.
The German Federal Ministry of Finance said on Monday that Bitcoin is not a full-fledged currency but that it is permissible to use it in private transactions.
A prominent U.S. Senate committee has launched a formal inquiry to investigate criminal activity and other risks tied to the use of virtual currencies such as Bitcoins.
Washington's biggest problem when it comes to Bitcoin may just be that policymakers on the Hill don't know enough about it, yet.
Bitcoin is not going away, the digital currency's developers say, and they're craving more technically savvy people to support its use.
More bumps in the road are probably in store for Bitcoin. The virtual currency has seen some massive swings in value over the last several weeks, but that volatility is not likely to end soon, its lead developer suggested on Saturday.
Mt. Gox, the largest exchange for buying and selling bitcoins, is temporarily shutting down following an uptick in activity on the site sparked by a massive drop in the digital currency's price.
The online virtual currency Bitcoin has generated some serious buzz lately, with its value soaring past US$200 for the first time this week. Now a smaller player hopes to emerge as a rival by processing transactions faster and giving its users more p...
Bitcoin may just be a "virtual" currency, but there's no denying its rising value. The currency, which last month was trading on the order of roughly $30, is now valued at over US$230.
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