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Western Union and MoneyGram to offer Money Transfers in Bitcoins

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RV AK241 SENTRK G 20130412174201 300x200 Western Union and MoneyGram to offer Money Transfers in Bitcoins
The fervor over the digital currency Bitcoin has drawn interest from two of the world’s largest movers of money. And soon we expect them to start offering money transfers in bitcoins!

Western Union Co. WU -1.16% and MoneyGram International Inc. MGI -0.68% are studying ways their customers could use their services to send and receive money transfers denominated in bitcoins, the companies’ executives say.

Both companies run remittance networks commonly used by immigrants to send money to friends and family members in foreign countries. Western Union also operates a business-solutions unit that helps companies send payments to other businesses.

Why Programmers Are Excited About Bitcoin?

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Article by Timothy B. Lee, Contributor at Forbes.com;

I’ve noticed a contrast in the way programmers and non-programmers react when they first hear about Bitcoin. And I think an analogy to cryptography helps explain it.

Cryptography has been around for centuries, but until recently all the practical encryption systems people knew about were symmetrical. The encryption key could be derived from the decryption key as easily as vice versa.

Bitfloor shuts down!

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Bitfloor is an online Bitcoin trading platform where buyers and sellers meet to trade Bitcoins for other currencies.

Bitcoin Binaries – yes it is possible!

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bitcoin img long 300x70 Bitcoin Binaries   yes it is possible!
IG Group is the first binary option provider to take bitcoin binaries bets! Prices for the digital currency Bitcoin are experiencing volatility, sparking global interest. We are pleased to now offer binary bets on the exciting Bitcoin market, expiring on 31 May.

Here is their press release:

The New York Times: The Antisocial Network

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Krugman New popup v2 200x300 The New York Times: The Antisocial Network
Bitcoin’s wild ride may not have been the biggest business story of the past few weeks, but it was surely the most entertaining. Over the course of less than two weeks the price of the “digital currency” more than tripled. Then it fell more than 50 percent in a few hours. Suddenly, it felt as if we were back in the dot-com era.
By Paul Krugman