Proclaims Bitcoin’s Tipping Point Declaring that Bitcoin has reached a “rite of passage,” Fortune.cnn.com is reporting that investors around the globe are pouring money into Bitcoin in anticipation that some day the virtual currency will be adopted by regular consumers. From the article: “Bitcoin has reached a rite of passage. The four-year-old virtual currency was once dismissed as something of a fad that only gangsters and drug dealers used, but in recent weeks, it has found new sources of credibility. Increasingly, investors from the U.S. to China are betting that the alternative currency could some day benefit regular consumers. On …continue reading

Largest U.S. Bitcoin Seller Says Come Back Later The largest seller of Bitcoins in the U.S. has been out of Bitcoins for nearly two days. Yesterday afternoon Business Insider first reported the story that Coinbase was temporarily out of Bitcoins. Just minutes ago a staff reporter at Planet Bitcoin attempted to make a purchase of just over one Bitcoin and was unable to do so. The message stated, “Sorry, the maximum number of purchases on Coinbase has been reached. This is a 24 hour rolling limit with no specific start time. Please try again later.” (image of the message is …continue reading

“It’s Not a Bubble, It’s a Substantial Paradigm Shift” With the interest in Bitcoin growing exponentially, and the value increasing by a hundred dollars per day, one has to wonder if Bitcoin is just a fad, or something that is here to last. Jeffrey Tucker, an economist from the Foundation for Economic Education, believes Bitcoin to be the latter. In an interview with RT.com, he provides his view: “The Bitcoin virtual currency is up 24.5 percent in 24 hours, touching a new record of $619. The surge is ‘the beginning of something spectacular,’ with it potentially displacing the dollar, Jeffrey …continue reading

Demand in China Fuels Surging Bitcoin Price When it comes to Bitcoin investing, most Americans would be shocked to find out that the largest Bitcoin exchange is not located within their country. Not only is America not number 1 in Bitcoin trading volume, the United States isn’t number 2, 3, or 4. The world’s largest Bitcoin exchange by trading volume is in China, and it is the Chinese demand for Bitcoin that is the fuel for Bitcoin’s bull market. Techcrunch reports: “Chinese Bitcoin exchange, BTC China – the world’s largest by trading volume according to Bitcoinity.org – has closed a $5 million Series …continue reading

It took Less Than 24 Hours to Climb Another $100 It was less than 24 hours ago that Bitcoin topped $500 for the first time. Just minutes ago the value of one Bitcoin surpassed the $600 marker. Thenextweb.com reports on the global crypto currency phenomenon: “It’s been an interesting day for crypto-currency Bitcoin after its valuation passed $600 on a trading platform for the first time, while another major trading company (the world’s largest for Bitcoin) landed a $5 million investment. Bitcoin seemed in trouble back in October when its valuation tumbled as low as $119 following the FBI seizure of illicit …continue reading