How To Exchange Litecoin For Bitcoin

Litecoin is an amazing cryptocurrency. However, despite having several advantages over Bitcoin, many people would rather have Bitcoin than Litecoin simply because more vendors accept it, and it can be exchanged more easily for actual cash. I’ve had a lot of people ask how to transfer or convert Litecoin to Bitcoin. In this article, I will explain in detail how exactly to exchange Litecoin for Bitcoin.  [Read more...]

How Apple’s Approval Of Bitcoin Changes Cryptocurrency Forever

Apple announced a lot during WWDC. However, as cryptocurrency users and investors, what they didn’t announce is actually more important for us than what they did announce. Apple has made a subtle change to their developer guidelines, stating

Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions.

So, what exactly does this mean? [Read more...]

Should You Invest In Poloniex’s Mining Contract?

Poloniex, the extremely popular altcoin exchange, has begun selling shares of a 10THs Bitcoin mining contract. They have opened up the opportunity to purchase shares of this contract, but would it be a good idea?  [Read more...]

Bitcoin Vs Gold: Which Is The Better Long-Term Investment?

Investing long-term can be scary. Not only are there so many different potential investment options, but you never know how each of them could turn out. Stocks can crash. Gold could drop drastically in value. Bitcoin could become completely non-existent. With so many different potential outcomes, how do you know what you should invest in?

For now, let’s narrow it down to two potential choices: Bitcoin, and gold. Each have their pros and their cons. However, if you were looking to invest long-term starting now, which would would be the better choice?

[Read more...]

Where Will Bitcoin And Litecoin Be 10 Years From Now?

I’ve always said that we are in the very early stages of cryptocurrency. Despite the fact that Bitcoin is now several years old, in relative terms, it’s still very young. Even now, after the big Bitcoin boom that saw it rise up to over $1,200 extremely quickly, the general public still does not even know cryptocurrency exists. But when will this change? Where will cryptocurrency be 10 years from now? [Read more...]

Mt. Gox Goes Down, Deletes All Tweets

In the blink of an eye, the world’s most popular Bitcoin exchange has vanished.

Mt. Gox has had a lot of negative news surrounding it ever since the exchange stopped allowing Bitcoin withdrawals on February 2nd. Today, all withdrawals have halted completely, and Mt.Gox’s website is completely unaccessible. [Read more...]

Class-Action Lawsuit To Be Filed Against Mt. Gox

Mt. Gox, one of the most popular Bitcoin exchanges, is under fire.

The exchange has had a lot of negative news surrounding it as they have halted Bitcoin withdrawals completely, single-handedly causing the price of Bitcoin to fall significantly. It was announced earlier this week that some people are firing shots back.

User ‘nmersulypnem‘ on BitcoinTalkForums has announced that he is filing a class-action lawsuit against Mt. Gox, and is inviting other members of the community to join in along with him. [Read more...]

Why Bitcoin Is Dropping – Two Major Exchanges Halt Bitcoin Withdrawals

Bitcoin is going through a rough patch right now, with a major security issue causing a temporarily halt in all withdrawals on two popular Bitcoin exchange websites, Mt. Gox and Bitstamp.

A bug in the Bitcoin network has been discovered and exploited, allowing criminals to commit refund fraud when attempting to withdraw Bitcoins from the exchange services.

The bug in a rather specific way. As we know, all Bitcoin transactions are publicly available on the Bitcoin blockchain. Exchange services use this to verify that withdrawals have successfully been completed.

Criminals have found a way to, in a sense, duplicate the information in the blockchain after making the initial transaction. Of course, only one of these will be verified, which leaves one that is left unverified. This tricks the exchange into thinking that the Bitcoin was not successfully sent, so the exchange sends the payment again. This has resulted in thousands of Bitcoins being stolen from the two exchange sites.

Other exchanges have already designed ways to stop this from happening, and while both Mt. Gox and Bitstamp have plans in mind to stop this bug from being exploited, they are forced to halt withdrawals until the issue is fixed.

This issue has caused Bitcoin to fall down to $620, only half of what it was less than a year from now. The price of Bitcoin is expected to rise when the blockchain exploit is fixed within coming weeks.