As the rumors of a crackdown by the People’s Bank of China have solidified over the past few days, Bitcoin prices have been hit hard.
This week saw more developments in the Mt. Gox bankruptcy, while major banks and regulators continue to struggle to understand the digital currency.
The latest Bitcoin news for the week of March 2-7.
With the Mt. Gox Bitcoin exchange offline… a primary concern of customers who had accounts there is getting back lost bitcoins – can they be retrieved?
Now that the Mt. Gox Bitcoin exchange has gone dark, rumors are that the digital currency’s future looks dark – but …
The short answer to why Bitcoin prices dropped today (Monday) is that Mt. Gox briefly had everyone thinking that a serious new flaw had been discovered in the software that controls the digital currency – but that’s not the whole truth.
Investing in Bitcoin isn’t as easy as investing in stocks – right now.
But the arrival of the Winklevoss Bitcoin ETF – an exchange-traded fund developed by twins Cameron and Tyler Winklevoss – will change that.
The recent data breach at Target is one of the worst breaches of credit card information ever. But if those millions of Target Corp. (NYSE: TGT) customers had been using Bitcoin instead of credit cards, the thieves could not have stolen any of their personal data.
The thieves who stole the credit card data from Target customers took the information from Target’s own computer systems. They got credit card numbers, names, and home addresses. In short order, the Target thieves were selling this data to other criminals over the Internet.
The post Why Using Bitcoin Could Make a Target-Style Data Breach Obsolete appeared first on Money Morning – Only the News You Can Profit From.
Friday another Bitcoin milestone was reached, as it is the first day that Internet retailer Overstock.com (Nasdaq: OSTK) started accepting the digital currency as payment.