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Bitcoin Reaches Half Billion Dollar Market Capitalization

Posted by CryptoJunky on March 6, 2013

Over the last several hours the online digital currency Bitcoin has experienced a sharp increase in value relative to the US Dollar. With the cost per Bitcoin currently hovering at around $46.63 (USD) the currency is reaching unknown territory. (more…)

Amazon Purchases With Bitcoin – A Review Of AmazonBitcoins.com

Posted by CryptoJunky on March 5, 2013

AmazonNOTE: At the request of Amazon.com AmazonBitcoins has shut down. I’ll keep this post up as a reference to how the service worked when it was up and running.

You can pay for your Amazon order with MasterCard, Visa, and now…Bitcoin! To be clear Amazon has made no announcement that they’ll be directly accepting Bitcoin. Rather, two engineers out of San Francisco have put together a service that allows you to purchase Amazon gift cards with Bitcoin. While online retailers such as Bitcoinin and Bitcoin Store have done a lot to open up online retail to Bitcoin, Amazon opens up a whole different world. I decided to go ahead and test the service recently. Here’s my experience. (more…)

The Week In Bitcoin

Posted by CryptoJunky on March 1, 2013

Bitcoin ATMThis week has been a big one for Bitcoin with record highs versus the U.S. dollar, word of a new partnership between Mt Gox and CoinLab, and the official launch of Bitcoin Store. Not all news has been good news as Butterfly Labs still lags well behind schedule. Here are the top stories of the week.

 

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Best Bitcoin Services

Posted by CryptoJunky on February 25, 2013

BitcoinBitcoin is on the rise after a slew of announcements from major internet communities and companies. Kim Dotcom announced that Mega would be accepting Bitcoin, Reddit Gold can now be purchased with Bitcoin and of course WordPress accepts Bitcoin. However, there are quite a few lesser known services as well. Here’s a list of some of the online services that are embracing the cash of the internet. (more…)

Top Places To Spend Your Bitcoin

Posted by CryptoJunky on

Bitcoin AcceptedWhile it may have once been valid, today the claim that “you can’t buy anything with Bitcoin” simply isn’t true. While gambling and the silk road certainly helped Bitcoin get going, a far larger and more legal economy is beginning to emerge. Today you can purchase everything from a new computer to gold and silver, or even order a pizza. Heres a list of just a few of the places that accept Bitcoin. (more…)

Direct Investment Versus Mining Bitcoin

Posted by CryptoJunky on February 20, 2013

Gold BitcoinI’ve heard this question asked  a lot lately, “should I buy an ASIC miner or invest directly in Bitcoin?” I asked myself the same thing back in November. After much research I did both, investing $200 in Bitcoin and $150 on an ASIC. Today my Bitcoin purchase is worth $484.40 US Dollars ($29.18 USD / 1 BTC) well over doubling my initial investment. The $150 Butterfly Labs Jalapeno hasn’t arrived yet, though I’m told I can get a refund if I’d like. With that said, I’m happy with my choice and will likely do the same again. My analysis and explanation follows. (more…)

Crypto Currency Subreddits

Posted by CryptoJunky on February 18, 2013

BTCalienLast Thursday Reddit announced that it will be accepting Bitcoin as payment for Reddit Gold. In light of the recent exposure from Reddit I’m taking some time to revisit the crypto currency subreddits as they are growing both in number and in size. While r/Bitcoin is right up there with BitcoinTalk.org and the Bitcoin Stack Exchange in terms of activity, many of the lesser known subreddits could use some exposure. Given the recent increase in Bitcoin mining difficultly I’ve included subreddits for lesser known crypto currencies as well. These other crypto currencies are expected to become an attractive option to CPU and GPU miners as Bitcoin ASICS come online. (more…)

Bitcoin ASIC Roundup

Posted by CryptoJunky on February 17, 2013

avalonI received an email this morning from Avalon ASIC announcing that they would be reopening orders on batch two. With record breaking hash rates and a lot of movement in the Bitcoin hardware industry, it seems like an appropriate time to do an ASIC mining roundup. For those new to mining, ASIC stands for Application Specific Integrated Circuit. The Bitcoin ASICs are essentially hardware designed specifically and solely for mining Bitcoin. While there had been multiple companies working on developing ASICs for Bitcoin, currently only three have either shipped or (more…)

The Case For The MilliBit

Posted by CryptoJunky on February 12, 2013

Bitcoin_logo.svg_3

Like many Bitcoiners I have been watching the price of Bitcoin rise steadily for the last several months. Between the halving of the block reward, the emergence of ASICs and a growing Bitcoin economy things are looking pretty good. With recent media attention from Bloomberg, Forbes, and others; Bitcoin is poised for growth. However, the increasing price of Bitcoin relative to traditional fiat currencies such as the Dollar and Euro may actually inhibit adoption by the general public. (more…)