Bitcoin´s Banned In Russia

February 8, 2014 Dennis

Another bad news for Bitcoin owner´s and user´s. Russia did officially ban the use of Bitcoin and created a regulation that names the digital currency a “money substitute”. Here is the official statement that you need to translate with the Google Translator if you can´t read Russian. According to Digital Trends, the paper notes that digital currencies like Bitcoin have been used for money laundering and other criminal activities. Also the “lack of security” and the volatile value of the currency has been mentioned. The new rule does indicate that it is now basically forbidden in Russia to have a … Continue reading Bitcoin´s Banned In Russia

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Overstock Now Accepts Bitcoins

January 10, 2014January 10, 2014 Dennis

I mentioned already in an earlier article that the retailer Overstock would plan to accept Bitcoins in 2014. But this came true now. It is now official, the retailer Overstock now accepts Bitcoins as they mention on their website. If you shop for everyday needs and different products on Overstock, you can now check out with the Bitcoin currency. Continue reading Overstock Now Accepts Bitcoins

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Overstock will take Bitcoin payments in 2014

December 21, 2013May 21, 2020 Dennis

The virtual currency Bitcoin had a hard week and while Bitcoin is already known for being very volatile, some retailer are still not shocked about this fact. Overstock for example announced on Friday that they will accept Bitcoin payments in 2014. Overstock is a retailer and sells everyday products like household equipment and furniture for the home. Apart from that they do also sell apparel for men and women and even jewelry and watches, health and beauty products and indeed also electronics. That is again a new posibility which allow Bitcoin owners to spend Bitcoins instead of treasuring them up … Continue reading Overstock will take Bitcoin payments in 2014

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Digital Currency Bitcoin maybe in Free Fall again…

December 7, 2013 Dennis

Looks like the digital currency called Bitcoin is situated in a free fall again after the big rise of the last weeks. The value of the digital currency was now above 1000 USD for some time but it seems that this is over now. The Bitcoin currency is known for being very volatile. The price jumped immediately up to over 1000 USD when the Chinese search engine Baidu accepted the currency. But now the latest news is that the People’s Bank of China does not allow banks to handle with the Bitcoin currency in China. And not only this. There … Continue reading Digital Currency Bitcoin maybe in Free Fall again…

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Bitcoin, the Decentralized peer-to-peer Digital Currency

November 24, 2013October 6, 2014 Dennis

Video source: bitcoin.org What is a Bitcoin? Interested in new technology, I came across the Bitcoin topic some time ago. Bitcoins are a decentralized peer-to-peer (transferred from person to person) digital currency which means there is no central authority like banks or governments behind the currency and the transaction process is done by a network of private computers. The users of these computers, the “miners” get recompensed with transaction fees and newly created Bitcoins. But the systems of all the worldwide Bitcoin miners have to solve a complex math problem first and the algorithm leads over time to the case … Continue reading Bitcoin, the Decentralized peer-to-peer Digital Currency