First Land Rover Purchased via Bitcoin

With the massive growth of the Bitcoin market, more and more mainstream businesses are starting to accept bitcoins as a form of payment. Auto dealerships have been no exception. There have been several reports of bitcoins being accepted for down payments on vehicles across the country. Most recently, Land Rover of Redwood City, California announced they sold a Land Rover accepting…

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Law Enforcement Argues in Favor of Bitcoin Regulations

New York’s top financial regulator, Benjamin Lawsky, is holding a hearing to determine the merit in implementing regulations on the use and exchange of bitcoins. Currently bitcoin is an unregulated, decentralized cryptocurrency. While cryptocurrency are not necessarily knew, this is the first time a cryptocurrency has gained traction within the mainstream market. During the hearing law enforcement officials testified that…

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Tiger Direct Processes $500,000 in Bitcoin Payments

On Thursday, January 23, 2014, Tiger Direct announced they would start accepting bitcoin as an alternative payment method. While Tiger Direct isn’t the first major online retailer to start accepting bitcoins, they are the first major online electronics retailer to do so. The Tiger Direct website offers over 200,000 products and is a popular shopping destination for PC users. According…

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Backer Provides New Crowdfunding Platform that Accepts Bitcoin

Backer is a new crowdfunding platform launched by App.net. It is designed specifically for developers, who want to raise money to create new software or to develop new features for existing software. App.net was actually enhanced as a result of a crowdfunding campaign, which helped increase their understanding standing of crowdfunding and the need within the developer community. Backer will allow…

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Will Individual States Classify Bitcoin as Currency?

Despite the fact multiple countries and central banks have made public statements against the use of bitcoins as currency, the US has yet to make a clear statement either way. Restrictive FinCEN regulations, incoherent policies and regulatory ambiguity make it extremely difficult for the adoption of digital currency at the federal level. However, several states have made statements regarding the…

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