Bitcoin, for those not aware, is a completely digital currency — one where exchanges between individuals are largely anonymous and secured through cryptography, and one that has seen its hype-meter go off the charts in recent months. That, inevitably, has had some people waiting for a fall, and it took a big one this week. While things have since bounced back, the value of the currency on the so-called Mt. Gox exchange dropped from around $17.50 to just one cent in a matter of moments during the early hours of June 20th — a drop that’s since been attributed to a compromised account. Thanks to a daily withdrawal limit, however, that apparently only resulted in $1,000 actually being stolen, and a claims process has now been set up for those affected.

While not directly related to the sell off, the Electronic Frontier Foundation (or EFF) also dealt a bit of a blow to the upstart currency this week, when it announced that it would no longer be accepting Bitcoin donations. According to the organization, that’s both because it doesn’t “fully understand the complex legal issues involved with creating a new currency system,” and because it doesn’t want its acceptance of Bitcoins misconstrued as an endorsement of Bitcoin. Head on past the break for an account of the aforementioned plunge as it happened.

[Thanks, Zigmar; image: Wikipedia]

Continue reading Compromised account leads to massive Bitcoin sell off, EFF reconsiders use of currency

Compromised account leads to massive Bitcoin sell off, EFF reconsiders use of currency originally appeared on Engadget on Wed, 22 Jun 2011 06:56:00 EDT. Please see our terms for use of feeds.

Permalink   |  sourceMt. Gox, EFF  | Email this | Comments

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Everytrail Helps You Find Your Next Outdoor AdventureFiguring out where you next adventure will be can be tough. Whether you are just looking for something fun to do this Saturday or something a bit more broad like a trip to a different country, is an awesome tool for those who like to get out and go. takes geo-tagged information from mobile devices and Garmin GPS units to create an interactive map of trip you or someone else has taken, and once uploaded to their website you can add photos and commentary to your route and share it online for anyone else in the world to download, so they can relive the exact same adventure you did.

The online tool is super easy for creating a route yourself, but if finding a new thing to do yourself is more your style, they have a huge database of thousands routes worldwide. You can search by location, or activity, making it super easy to find something to do no matter where you are. (Here’s a route I uploaded.)

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The United States government may be dissolved tomorrow, but it’s certainly taking care of one final piece of business before going into shutdown: this. If you’ll recall, Google announced its intentions to acquire ITA for $700 million in July of last year, and as we cruise into the start of America’s summer travel season, all signals are go. Today, the US Department of Justice approved Google’s request to move forward with the buy, but rather than having the entire travel search market under its wing, El Goog’s going to have to make a smattering of concessions in order to get the right signatures. For starters, the search monolith will allow ITA’s existing client contracts to extend into 2016, and it’ll let both current and new customers license ITA’s QPX software on “fair, reasonable and non-discriminatory terms.” No one’s saying when the integration will be complete (or start, for that matter), but we’re desperately anxious to see just how Kayak and Bing Travel react after this launches in earnest. Power to the searchers, as it were.

US DoJ approves Google’s acquisition of ITA, but not without stipulations originally appeared on Engadget on Fri, 08 Apr 2011 17:06:00 EDT. Please see our terms for use of feeds.

Permalink PCMag  |  sourceThe Official Google Blog, US Department of Justice  | Email this | Comments

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