Minecraft may make bitcoin the official currency of virtual worlds!

The United States dollar bill only has value because you believe it does. Now, a game developer in Chile wants to apply that same concept to Minecraft and bitcoin.

BitQuest is a new public Minecraft server from Chilean game developer Mego. The idea behind BitQuest is to create a working virtual economy where players can earn bitcoins, the popular digital cryptocurrency, by trading Minecraft’s emerald element. Each emerald is worth 1 bit (1/1 millionth of a bitcoin), or about .04 cents. In the BitQuest version of Minecraft, you can deposit the emeralds in exchange for bits using enchanted chests, which act as ATMs. For Mego, this is all about using one of the most popular games in the world to help further legitimize Bitcoin as the official currency of our inevitable cyberpunk future.

“We are a bunch of crazy gamers who want to make Continue reading

XBOX GAMES AND WINDOWS DIGITAL CONTENT NOW CAN BE TRADED FOR BITCOINS!

Microsoft has updated its marketplace to allow users to purchase games and content with the cryptocurrency Bitcoin.

Xbox One, Xbox 360 and Windows games, along with other media and content, can now be bought with the digital currency.

Those who use Bitcoin can visit the Microsoft Billing webpage and add the currency to their account, which can then be used across a range of services such as Xbox Video, Xbox Music, Windows Phone, and Xbox Games. Continue reading

BitFury CEO Claims that They are Not a Bitcoin Mining Company

If knowledge of the BitFury brand was confined to the bitcoin ecosystem prior to this year, the Amsterdam, Riga and San Francisco-based company has done its best in 2014 to change this, raising $40m through two funding rounds and adding executives with experience at Samsung and VeriFone to its newly created strategic advisory board. Continue reading

2,000 BTC Giveaway in Second US Marshals Bitcoin Auction

Draper Fisher Jurvetson managing director and avid bitcoin enthusiast Tim Draper has once again entered a winning bid in a bitcoin auction held by the US Marshals Service.

However, unlike the first auction, in which he was able to purchase all 29,656 of the auctioned bitcoins, Draper confirmed to CoinDesk that this time he won just one block of 2,000 BTC (worth roughly $750,000 at press time).

In total, 50,000 BTC confiscated from alleged Silk Road ringleader Ross Ulbricht were divided into 10 blocks of 2,000 BTC and 10 blocks of 3,000 BTC for the event. Bidders did not have the ability to view other bids or change bids that they submitted during the auction. Continue reading