Displaying items by tag: Digital Currency

A certain Trendon Shavers, founder and head of the company Bitcoin Savings and Trust, finished under indictment and the threat of blockade of the entire property because the spinning pyramid scheme he did with Bitcoin.

Until now Tyler and Cameron Winklevoss were most famous because they sued Zuckerberg for $140 million (reportedly stolen their Facebook social network ConnectU), and to others by their claim that they are owners of 1% of all the total number of Bitcoin.

Amazon has marked the beginning of the use of their virtual money called Amazon Coins, dividing 500 "coins" worth $5 in the real world to owners of Kindle Fire. Mike George, VP of apps and games at Amazon said „Today we are giving Kindle Fire owners $5 worth of Coins to spend on new apps and games, or to purchase in-app items, such as recipes in iCookbook, song collections in SongPop or mighty falcon bundles in Angry Birds Star Wars. And with discounts of up to 10% when you buy Coins, this is a great way for customers to save money when they buy apps, games and in-app items“

Scientists at Southern Methodist University in Dallas and those from Carnegie Mellon University conducted a study on Bitcoin transactions and came up with devastating results. According to their data, 45% of these transactions end up as a fail, often taking with them the money from the users, and those who survive the transaction are also those who have the most traffic, and are most exposed to attack.

It seems that these days everyone is involved in trade or mining of the Bitcoin, and it did not go unnoticed at the Canadian tax authorities (CRA/ARC - Canada

Revenue Agency/Agence du Revenu du Canada) who have decided to start charging sales tax on the transactions with this currency. According to the CBC's website, the tax will be applied based on a two separate rules depending on whether Bitcoin is used as real money to buy things, or whether it is only used for speculative investment.