The Bitcoin Foundation addresses the recent media frenzy over the currency’s creator: “[Bitcoin is] ultimately controlled by no one.”
Two distinct schools of thought have emerged about Bitcoin: It is a stable and decentralized currency or it’s a junk fiat currency.
After shutting down this week to “protect the site” and its users, the MtGox Bitcoin exchange announced this morning that it’s officially filing for bankruptcy protection.
Twitter testing a major profile redesign that looks a lot like Facebook. Bitcoin Exchanges halt withdrawals. These stories, and more, in today’s Morning Social Media Newsfeed.
With a finite supply, there may be an upper cap to Bitcoin — but the cat is out of the bag in terms of decentralized, encrypted, non-regulated currency.
Earlier this month, a US Senate committee described virtual currencies as a “legitmate financial service” and since then the value of a single bitcoin has surpassed $1,000. In January, it was trading at $20.
The topic of Bitcoin is being discussed by several major news outlets and has piqued the interest of Wall Street and the finance community. Now, the Bitcoin community will be excited to learn that the team at Project Bitcoin has recently launched a campaign on Kickstarter to gain funds to support the creation of “Bitcoin: The Movie.” Detailed information about the campaign and movie can be found on Kickstarter.
In what the company billed as a minor update to its mobile apps, Path today veered into social discovery by beginning to generate QR codes that let users connect with one another in person using their smartphones.
On today’s social media edition of the Morning Media Menu, GalleyCat editor Jason Boog talked about how marketers are using geotagging on niche sites like Instagram and Foursquare.
If public ridicule memes suggest that the sun may soon set on a tech boom, it may be time to sell your stocks. A Tumblr called Jesus Christ, Silicon Valley, is gaining attention after appearing in late March to offer a scathing critique of the oft-attacked Dave Morin.