Magical Thinking: Bitcoin Gathers at Disney

Sam Biddle · 12/01/14 02:00PM

ORLANDO—(BTC @ $355.27) The hotel is a tomb of hopeful thinking. Built in the 1980s, the single tower of the Wyndham Lake Buena Vista Hotel at Disney World juts up from the Orlando ground as if tectonic forces pushed skyward a sheet of pure, brown stucco. A soundtrack of Mickey Mouse anthems plays around the clock. The carpets are damp. And for a weekend in October, a group of men and women who mean to change the future of civilization were staying there.

Michelle Dean · 05/08/14 12:16PM

Bitcoiners wishing to influence the American political process may now donate to their favorite (agorist, libertarian, crypto-conservative or maybe totally normal!) candidate using their internet-Monopoly-money, says the Federal Election Commission.

Michelle Dean · 04/29/14 02:21PM

Bloomberg reports that former Bitcoin Foundation Vice Chairman Charlie Shrem has pled not guilty to charges of money laundering in a Manhattan federal court. He was busted back in January for using his Winklevoss-backed company BitInstant to make money on Silk Road. Trial is set for September 22.

Dorian Satoshi Nakamoto Thanks Bitcoiners for Support in New Video

Michelle Dean · 04/22/14 04:08PM

A charming video has just been posted to YouTube of Dorian Satoshi Nakamoto thanking the Bitcoin community for its support in the wake of the Newsweek story that alleged that he was the original creator of Bitcoin. He appears with Andreas Antonopoulos, who spearheaded a collection among bitcoiners (in bitcoin of course) in Nakamoto's name. Of course he still denies that he is THAT Satoshi Nakamoto. As he puts it at the beginning of this video,

Michelle Dean · 04/16/14 08:43AM

Mt. Gox, the beleaguered Bitcoin exchange, reportedly told a Tokyo court that it's giving up the ghost. It will shut down entirely and pay creditors out of what's left. That means its creditors are likely to get relatively few of their lost bitcoins (and other investments) back.

Michelle Dean · 03/28/14 12:05PM

Those waiting to learn the fate of the Bitcoins they stored with the troubled Bitcoin exchange Mt. Gox will have to wait a little longer. The investigator appointed by the Japanese bankruptcy court, who was due to report findings today, was given until May 9 to figure out what the hell happened.

Michelle Dean · 03/27/14 01:40PM

"At a CoinSummit panel on Wednesday, [venture capitalist and ex-Facebook exec Chamath Palihapitiya] also said he thinks Facebook Chief Executive Mark Zuckerberg thinks bitcoin is cool. Facebook declined to comment."

Watch a Man Literally Eat His Hat After Losing a Bitcoin Bet

Jay Hathaway · 03/27/14 12:50PM

Last November, when the digital currency property Bitcoin was trading at more than $1,000 per coin, one overzealous Bitcoin booster couldn't see any way it would ever go down. And he was so sure of himself that he promised to eat a hat if BTC had dropped below $1,000 on January 1st.

Michelle Dean · 03/25/14 01:37PM

The dreams of those agorist Bitcoiners who still hoped that their digital currency could evade the taxman are finally dead. The IRS hath spoken. They will treat Bitcoins as property, which means self-employment and capital gains taxes may apply to your stash. Call an accountant for further details, folks.

Bitcoin Trading Exchange Spurns Thirsty SEC

Michelle Dean · 03/20/14 10:10AM

Who doesn't love a romantic comedy about a staid conservative chasing a wild free sprit? Even when the uptight one is a major regulatory institution and the the free spirit is an online exchange for a digital currency?

Michelle Dean · 03/18/14 04:12PM

Fortune quotes a venture capitalist saying that he and his peers are now investing in bitcoin: "I think bitcoin investing is becoming to this generation what real estate investing used to be." So... purchased by unsophisticated consumers at prices so high above actual worth that owners will end up underwater?