Tag: bitcoin

Bitcoin Will Collapse In 2014 says BYRON WIEN

Staff Writer

Blackstone Group vice chairman Byron Wien does not have a lot of faith in Bitcoin. Included on his list of annual “surprise” predictions is the possibility that acceptance of the digital currency collapses this year. “In 2½ years the price of a Bitcoin has increased from $25 to $975,” says Wien. “The supply of bitcoins is fixed at 21 million with 11.5 million in circulation. Bitcoins lack gold’s position as a store of value over time. During the year Bitcoin’s acceptance collapses as investors realize that it cannot be used…

Read More

There Is A ‘Very Surprising’ Connection Between Bitcoin’s Creator And The Alleged Founder Of The Silk Road

Staff Writer

The two most important moments in the history of Bitcoin are its creation, and the founding of illicit goods and services site Silk Road, which created the first ever market for the digital currency. Now, two Israeli mathematicians, Dorit Ron and Adi Shamir of the Weizzman Institute south of Tel Aviv, write in a new paper (first reported on by John Markoff at Bits) that they’ve found a “very surprising connection” between the individual or individuals behind the first and the individual allegedly behind the second. In October, the FBI arrested San…

Read More

Bitcoin Comes Under Senate Spotlight

Staff Writer

Bitcoin is about to get some time in the Capitol Hill spotlight. A pair of Senate committees will hold hearings on the policy issues raised by virtual currencies in the coming weeks, according to Senate aides, a development that comes amid growing attention from government regulators to digital forms of money. Bitcoin, a currency that is essentially a computer code and is not backed by any government, has seen its value surge this year because of  interest from retailers and investors. But government agencies have also stepped up their oversight of…

Read More