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"Obviously, if it was a real ponzi we would not call it that, since the whole point of a ponzi is to trick investors into believing their investment is legitimate! This game displays [the] ponzi dynamic and all players are willing and knowing participants."

Although news about the digital currency has been quiet since its nationwide dissemination, the project will soon launch a gateway that will better integrate with the country's ID system in order to streamline the process via which Icelandic residents obtain auroracoin.

'Is bitcoin the next Internet?' seems to be the question behind news articles and passionate debates alike.

The scrypt-based proof-of-work coin debuted on 16th April 2013, and has long possessed a passionate and involved community.

Apr 25, 2014 at 15:40 UTCUpdated Mar 16, 2015 at 13:34 UTC. Take out your smartphones and get those palms warmed up for a scanning, because it's time for CoinDesk's weekly bitcoin ATM roundup.

Starting tomorrow, decentralized Internet platform builder MaidSafe will hold a crowd sale of currency-like tokens called 'safecoins' to support its enabling software.

With data centres full of mining racks and malicious actors dropping cryptocurrency mining libraries into mobile malware, new and unexpected technological developments still crop up to make things interesting.

The hype cycle shows up a lot with enterprise technology markets, which are abuzz with fashions, but it may also apply to bitcoin.

Apr 15, 2014 at 21:15 UTCUpdated Apr 21, 2014 at 10:33 UTC. Los Angeles-based digital currency exchange CoinMKT has launched an API to provide advanced access to its platform.

Apr 14, 2014 at 18:28 UTCUpdated Jul 25, 2014 at 10:49 UTC. One time-tested measurement of an industry's promise is the amount of investment capital flowing into new ventures in the space, and now angel investor group BitAngels has closed a new fund that highlights the bright future of digital currencies and decentralised applications.

Apr 10, 2014 at 08:26 UTCUpdated Jun 11, 2014 at 07:09 UTC. Bitcoin prices crashed today as Chinese businesses began receiving official deposit shutdown notices from banks, confirming recent suspicions of an impending crackdown.

Part One projected exactly how much carbon dioxide each bitcoin produces, while Part Two put this figure in context with the broader financial sector.

Apr 7, 2014 at 17:28 UTCUpdated Apr 8, 2014 at 13:30 UTC. A panel comprising of both bitcoin enthusiasts and sceptics discussed everything from awareness and education to regulation and entrepreneurship at a panel discussion held at London's O2 venue on Saturday, 5th April.

Held at the iconic O2 Arena in London, a prize of bitcoin worth £5,000 was on offer to the tournament victor.

Just how much carbon dioxide do we produce when we mine a bitcoin? It's becoming an increasingly important question.

Apr 3, 2014 at 12:53 UTCUpdated Apr 3, 2014 at 16:22 UTC. A number of kickboxers will go head-to-head in London's iconic O2 venue on Saturday, fighting for a prize of £5,000 in bitcoin.

Florida-based exchange Cryptsy trades in over 130 cryptocurrencies, and cryptocurrencies alone.

There are many ways in which the local conditions helped the experiment to flourish; the local economy was much more localised than it is today, and levels of despair were much higher.

Tech entrepreneur and web bad boy Kim Dotcom is back in the news, having announced the launch of the Internet Party.

Unlike the world's other altcoins, which seek to either improve on bitcoin technology or merely copy it as part of 'pump and dump' schemes, national cryptocurrencies claim higher purposes, such as establishing sovereignty or building patriotism - or at least using those emotional themes to bootstrap the currency's value and newsworthiness.

Dogecoin is an unlikely cryptocoin experiment that, against the odds, has taken off - mainly as a digital tipping tool for sending tiny amounts of value.

A few experts in this area took the stage at CoinSummit San Francisco on Wednesday 26th March in a talk that included litecoin creator Charlie Lee, dogecoin founder Jackson Palmer and Paul Vernon of the altcoin exchange Cryptsy.

After weeks of anticipation, Iceland's attempted national digital currency auroracoin commenced its Airdrop - the distribution of 31.8 AUR to interested citizens - at midnight local time on 25th March as part of stage one of its three-part launch.

Icelandic residents that enter their permanent resident ID on auroracoin's official website will receive 31.8 AUR. The fourth-place digital currency in terms of overall market cap, Auroracoin quickly rose to prominence amongst the myriad new digital currencies for its unique approach to community building.

UK readers may have been too busy drinking beer and playing bingo with their pensions to notice, but this week's Budget statement had one little snippet tucked away that may do more to promote bitcoin than if Newsweek revealed Satoshi Nakamoto was really Stephen Fry in a kimono.

Iceland's Parliamentary Economic Affairs and Trade Committee held a formal discussion regarding auroracoin in closed meeting on 14th March.

Mar 13, 2014 at 15:32 UTCUpdated Mar 14, 2014 at 10:31 UTC. Consumers in the UK can now use their bitcoin and other cryptocurrencies to buy gift cards for major online retailers like Amazon, Google Play Store, ASOS and Starbucks.

Feb 25, 2014 at 6:15 a.m. UTCUpdated Mar 29, 2014 at 1:17 p.m. UTC. Uncertainty about the future of major bitcoin exchange Mt. Gox is growing in light of its recent decision to take down its website amid escalating, as-yet-unconfirmed rumors that it has been the victim of widespread theft and could be nearing a lengthy or even permanent shutdown of its services.

Feb 24, 2014 at 11:03 p.m. UTCUpdated Sep 10, 2014 at 10:59 a.m. UTC. In what is being called one of the most ambitious cyberattacks affecting virtual currency to date, Chicago-based IT security services provider Trustwave has revealed that a crybercrime ring known as Pony botnet is using a Trojan virus to steal from 30 types of digital currency wallets.

Feb 13, 2014 at 00:18 UTCUpdated Feb 13, 2014 at 11:53 UTC. The addition of dogecoin to Chinese-language exchange BTC38 and Hong Kong-based ANX has driven the market capitalization of the meme-based virtual currency to $91m, up roughly $40m over the last 24 hours, according to figures from Coinmarketcap.