The emerging Bitcoin civil war

A civil war is emerging between Bitcoin’s earliest and most libertarian adopters, and a more commercial wing seeking to embrace regulation as a means of legitimizing Bitcoin businesses.

FinCEN Declares Bitcoin Miners, Investors Aren’t Money Transmitters

The US Financial Crimes Enforcement Network (FinCEN) published two new rulings on 30th January that aim to bring clarity as to which players in the virtual currency space will fall under the Bank Secrecy Act’s (BSA) definition of a money transmitter.

FinCEN said that miners who mine virtual currency for their own use, as well as companies that purchase and sell convertible virtual currency solely as an investment aren’t subject to this law.

Bullion Exchange Brings Ripple into the Physical World

A new service launching in Singapore today uses the Ripple network to acquire, store and convert precious metals into any currency for customers anywhere in the world.

Ripple Singapore is a new kind of Ripple ‘gateway’, which is the name given to the exchange network’s entry and exit points. It’s Singapore’s first major gateway, and the first in the world to offer trade in precious metals.

Vancouver ATM Operator Wants to Leave Bitstamp Following Breakdown

Customers were unable to buy bitcoin from Vancouver’s bitcoin ATM last weekend because its operator was unable to clear a backlog of buy orders.

The machine’s operator, Bitcoiniacs, said the problem arose because the ATM relies on Bitstamp to clear its orders, and the exchange had allowed orders amounting to more than 45 BTC to pile up without being processed.

You Can Now Pump Gas for Bitcoin in the Rocky Mountains

A gas station in the US now lets customers fill up with bitcoin, making it likely to be the first business that allows the purchase of fossil fuel using cryptocurrency.

The station has completed eight transactions since it began accepting bitcoin at the start of January, according to the store’s owner, Shahzad Sarwar.

Community Debates What’s Next After New York Hearings

The dust has settled from the virtual currency hearings in New York City this week. We saw a mixture of speakers, including law enforcement agents warning of digital currencies’ many potential dangers, VCs getting hot under the collar over the regulation debate, regulators musing about whether they should license miners or not, and one vehemently anti-bitcoin academic.

China Bitcoin Exchange Restores Deposit Facility

BTC's Decision Reverses December Move That Hit Virtual Currency's Price

Popular Chinese bitcoin exchange BTC China has restored a facility allowing customers to purchase bitcoin by depositing yuan into the exchange's corporate bank account

Happy Chinese New Year, Bitcoin! Biggest exchange opens for business despite bank warning

The world’s biggest bitcoin exchange by volume has reopened allowing yuan-to-bitcoin deposits. This goes against an order by the People’s Bank of China, which said all bitcoin trading should stop before the Chinese New Year, January 31.

BTC China executive Bobby Lee said that as of Thursday, the exchange decided it could legally accept bitcoin deposits in its corporate bank account, and then transfer funds to customer accounts.

Mint.com will see your bitcoins now

f you're one of the millions of people who use Mint, you know the personal finance tool does an effective job at tracking your credit card spending, bank account balances and investment performance. But now Mint is adding support for another type of financial instrument: Bitcoin.

Bitcoin Browser: Extension Turns Google Chrome Into Digital Wallet

At the first North American Bitcoin conference in Miami, a Canadian software engineer revealed a new extension for the Google Inc. (NASDAQ: GOOG) Chrome browser that makes it easier for new bitcoin users to make payments with their digital currency.

Legal Online Gambling is Next Major Bitcoin Market

he international online gambling industry is an estimated $30bn market, and growing. More importantly for Bitcoin, it’s a global market that depends on fast, irreversible payments.

Just like a ordinary casino chip in any land-based casino, digital bitcoin provides privacy, immediacy, and payment finality. 

Lamborghini and McLaren Dealerships Drive Bitcoin Adoption in USA

Bitcoin classifieds site Eggify has struck a deal with McLaren and Lamborghini dealerships in California to offer a number of exotic vehicles for petrol heads through its platform. Of course, these aren’t everyday cars so they’re not exactly designed for shopping outings or family trips to the beach.

Bitcoin Hearings Day 2: Bitcoin Businesses Court Regulation in NY

If day one of the New York Department of Financial Services (NYDFS)hearings on virtual currencies was characterized by a circus-like atmosphere and initial tension from both parties, day two saw the emergence of a loose consensus of regulatory goals that could benefit the bitcoin community as well as help regulators bring stability and safety to the market.

BTC China Accepting Bank Deposits Again

Prominent Chinese bitcoin exchangeBTC China is now accepting customer deposits via its corporate bank account, plus offering small prizes to its customers.

Bobby Lee, CEO of the exchange, confirmed that customers can now buy bitcoins from the exchange by depositing their funds directly into the company’s account.

Ottawa restaurant offers payment by Bitcoin

or the first time, you can go to an Ottawa restaurant and be asked when you’re finished eating: Cash, card or Bitcoin?

The Standard Tavern on Elgin Street has become the city’s first restaurant to accept Bitcoins, the peer-to-peer digital currency that exists solely online, as payment.

Mint integrates with Coinbase, so you can track Bitcoin with the rest of your finances

The wild ride of Bitcoin’s value is slowing down, and we are beginning to see the effects of that stability.

Personal finance app Mint is integrating with Bitcoin wallet service Coinbase, so Bitcoin owners can quickly track how much their stash is worth and compare this value to their other financial accounts.

“There are now 12 million Bitcoin in circulation and 60,000 merchants accepting it via Coinbase,” Mint product manager Vince Maniago said in an interview. “We felt like it was something we couldn’t ignore anymore, and this is a good time to go out and support the currency as it becomes more legitimate.

Fred Wilson: Freedom and Innovation are Two Sides of the Same Coin

Fred Wilson is a VC and principal of Union Square Ventures. USV invests in bitcoin companies, but not the currency itself. Fred is interested in bitcoin because he believes it can be and possibly will be the financial and transactional protocol for the global Internet.

La mayoría de los profesionales informáticos aceptarían pagos en bitcoins

La mayoría de los profesionales de la tecnología de Estados Unidos vería con agrado que se les pagara en bitcoins, según una encuesta realizada por el organizador de eventos Tech in Motion.

De 847 respuestas a un cuestionario enviado a 18.000 miembros de Tech in Motion, el 51,12% respondió “sí, absolutamente” a la siguiente pregunta: “¿Estaría usted interesado en ser remunerado por su trabajo en criptomonedas como Bitcoin?” Otro 18,06% contestó “Tal vez, veamos donde está Bitcoin en un año o dos”, y el resto dijo que preferiría ser pagado con moneda tradicional. Sólo el 9,92% rechazó la opción, ya que “no piensa que Bitcoin durará”, y un 1.18% dijo que no sabía lo que era Bitcoin.

Destinia comienza a aceptar bitcoins

Destinia comienza a aceptar bitcoins

La agencia online de viajes con sede en Madrid, España, ha comenzado a aceptar bitcoins como forma de pago a cambio de pasajes de avión y estadías en hoteles que ofrece a través de su sitio web, tal como había sido anunciado en diciembre último. Destinia tiene más de un millón de clientes, y se ha expandido a otros países de Europa y Medio Oriente.

Fuente: destinia.com

Fred Wilson sobre Bitcoin: “Podría ser tan grande como internet

Fred Wilson sobre Bitcoin: “Podría ser tan grande como internet

El multimillonario inversor de capital riesgo, socio de la firma Union Square Ventures y conocido por su gran confianza en Bitcoin, participó en una audiencia para tratar un potencial marco regulatorio para la criptomoneda, organizada por reguladores bancarios del Estado de Nueva York. En palabras de Wilson, “la escena de las criptomonedas, particularmente Bitcoin, me recuerda mucho a los años 90. Estamos presenciando el comienzo de una época emocionante, no sólo para inversores, sino para toda la sociedad”. Luego advirtió que “si bien debe regularse lo que rodea al sistema, no debe tocarse la forma en que este opera”.

Fuente: cnbc.com

Charlie Shrem renuncia a la junta directiva de la Bitcoin Foundation

Charlie Shrem renuncia a la junta directiva de la Bitcoin Foundation

Charlie Shrem, CEO de BitInstant,  ha dimitido de la junta directiva de la Bitcoin Foundation, donde ejercía como vicepresidente, tras su arresto por ser acusado por presunto lavado de dinero proveniente de ventas de sustancias ilegales en Silk Road. Jon Matonis, director ejecutivo de la fundación, dijo al respecto: “Tenemos que permanecer enfocados en nuestra misión principal de estandarizar, proteger y promover el protocolo Bitcoin. A pesar de que Charlie ha aportado un gran esfuerzo personal y recursos para incrementar la adopción de la criptomoneda en el mundo, una disputa legal prolongada perjudicaría nuestra capacidad para seguir avanzando. Por lo tanto, para que [Shrem] pueda concentrarse en el juicio, se ha decidido de común acuerdo que renuncie a la junta directiva”.

Fuente: coindesk.com

Charlie Shrem, liberado bajo fianza

Charlie Shrem, liberado bajo fianza

Charlie Shrem, CEO del exchange BitInstant, fue liberado de la cárcel tras pagar una fianza por el valor de un millón de dólares. El joven empresario había sido arrestado en el aeropuerto John F. Kennedy de la ciudad de Nueva York, Estados Unidos, tras haber sido acusado por presunto lavado de dinero. Sin embargo, no puede decirse que Shrem es un hombre libre en este momento. Bajo los términos del acuerdo, permanecerá confinado en la casa de sus padres, ubicada en el distrito neoyorquino de Brooklyn. El fiscal del caso, Serrin Turner, se había opuesto a permitir la libertad bajo fianza, argumentando que el acusado tiene un fuerte incentivo para huir del país y los recursos como para hacerlo.

Fuente: coindesk.com

New York announces plans for bitcoin ‘license’ amid high-profile arrest

New York plans to create regulations that will guide virtual currency firms that operate in the state, possibly requiring them to hold a “BitLicense,” the state’s top banking regulator said Tuesday, one day after a major arrest in the bitcoin universe.

New York to regulate Bitcoins following hearing where Winklevoss twins testified about the risks of digital currency

New York to regulate Bitcoins following hearing where Winklevoss twins testified about the risks of digital currency - just days after their business partner was arrested on money laundering charges

• New York could become the first state to regulate digital currency
• The Winklevoss twins' business partner in the Bitcoing business was arrested over the weekend on money laundering charges
• Authorities say Charlie Shrem conspired to launder money by helping to funnel cash to illicit online drugs bazaar

Vault of Satoshi Rolls Out New Altcoin Support

Canadian digital currency exchange Vault of Satoshi will announce a plethora of new features today, including more verification options, coin-to-coin trading, and support for several new coins.

Vera&John Becomes First Licensed Casino to Accept Bitcoin

Large online casino Vera&John has become the first licensed and regulated online casino to accept bitcoin deposits.

The Malta-registered site began taking deposits from customers on Tuesday, automatically converting them to Euros which would then be paid into customers’ accounts on the site. Customers making bitcoin deposits made at Vera&John will only be able to withdraw those deposits in bitcoin.

Everything You Need to Know About Today’s New York Hearing on Bitcoin

The New York Department of Financial Services is shortly to begin its hearing about bitcoin and other digital currencies.

Taking place in the 4th Floor Boardroom of 90 Church Street, New York, the hearing is set to begin at 11:30 (EST) today (28th January) and the second session will begin tomorrow at 10:00.

Bitcoin Hearings Day 1: Bitcoin Hits ‘Tipping Point’ with New York Regulators

New York bitcoin hearing can be. 

The Reality of Chinese Trading Volumes

Will America Follow Washington State’s Lead and Classify Bitcoin as ‘Money

Over the past couple of months, numerous central banks and national regulators have issued warnings against the use of bitcoin and other digital currencies.

The US has not clamped down on bitcoin yet, though there are a number of restrictions hampering the adoption of digital currencies in the US. These include restrictive FinCEN rules, regulatory ambiguity and lack of a coherent policy at federal level.

Charlie Shrem Released on $1m Bail After Silk Road Money Laundering Arrest

BitInstant CEO Charlie Shrem has today been released on bail following a court appearance.

Shrem appeared before the US District Court in Manhattan this morning, walking out shortly after on a $1m bond.

The CEO was arrested at New York’s John F Kennedy International Airport on Monday. He faces serious money laundering charges, brought by the US Attorney’s Office in Manhattan.

Everything You Need to Know About the New York Hearings on Bitcoin

The New York Department of Financial Services is shortly to begin its hearing about bitcoin and other digital currencies.

Taking place in the 4th Floor Boardroom of 90 Church Street, New York, the hearing is set to begin at 11:30 (EST) today (28th January) and the second session will begin tomorrow at 10:00.

Bitcoin leader’s surprise arrest shows the digital currency has yet to shake its criminal ties

Charlie Shrem, the vice chair of the Bitcoin Foundation and CEO of BitInstant, once an exchange for the popular digital currency, was arrested at New York’s JFK Airport last night for violating money transmission rules.

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At first, the news was a surprise: Many payments start-ups, including bitcoin companies, run afoul of money transmission laws, and typically face legal expenses, business challenges and bad press—but not arrest.

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Then the US Department of Justice issued a press release announcing charges 

Top Nordic Forex Bank

Top Nordic Forex Bank

the largest Nordic foreign currency trader, is rejecting requests from clients seeking to set up accounts to manage Bitcoin amid concern the software could be used to aid crime.

Bitcoin exchange CEO arrested for money laundering

U.S. government agents have arrested Charlie Shrem, the CEO of Bitcoin exchange BitInstant, charging him with laundering money for customers of online drug bazaar Silk Road.

The U.S. attorney in the Southern District of New York said Shrem helped someone he hadn't met in person, Robert Faiella, sell more than $1 million worth of bitcoins to Silk Road customers. Faiella, a 52-year-old Florida man, allegedly ran an underground Bitcoin exchange using the alias BTCKing.

ussian Central Bank warns against using Bitcoin

Russia’s top financial regulator is warning citizens against using virtual currencies, as they could be tied to gangs into money laundering and terrorist financing. The Central Bank warning follows bans by China and Europe on “dubious” cryptocurrencies.

The Russian Central Bank (CBR) issued a statement late Monday warning that virtual currencies, or“money surrogates” are illegal under Article 27 of the Federal Law “On the Central Bank of the Russian Federation”.

Arrestan en EE.UU. a operadores de bitcoins

Los operadores de una de las principales intermediarias del comercio de la moneda virtual Bitcoin fueron arrestados en Estados Unidos.

El departamento de Justicia indicó que Robert Faiella, conocido como BTCKing, y Charlie Shrem de BitInstant.com fueron acusados formalmente de lavado de dinero.

Las autoridades señalaron que ambos estaban comprometidos en un plan para vender más de un millón de dólares en bitcoins a usuarios de un portal de compras ilegales de drogas, el Silk Road.

El sitio fue clausurado el año.

Shrem, de 24 años, fue arrestado en Nueva York y Faiella, de 52 años, en Florida.

Why Bitcoin will go mainstream in 2014

two Las Vegas Casinos have become the first of their kind to accept Bitcoin as legal tender, marking another milestone for the crypto-currency.

It’s an auspicious start to the year for the virtual coins which are set to go mainstream in 2014.

Both the D Las Vegas Casino Hotel and the Golden Gate Hotel & Casino began accepting Bitcoin last Wednesday, although at the moment that’s just limited to their hotel and gift shop and not for gambling.

Bitcoin and the Fictions of Money

How should we think about a currency like Bitcoin? The first thing to remember is this: Money is a sort of collective fiction. What money we choose to trust says much about how we see the world.

Above the simplest exchanges, most money has limited use. Gold, the most common historical currency, is almost only good for adornment. To its fans, gold’s uselessness is a value in itself; since the stock of gold is not consumed, it’s reasonably stable, while governments can print all the currency they want.

Paper is, of course, a proxy for the government issuing the money. How much we trust the government’s ability to collect taxes, pay debts, and so on is the collective fiction that gives a country’s money value.

Bitcoin Price Crosses $1000 Again Amid Emerging Market Sell-Off

Bitcoin prices rose above the $1,000 (€731, £606)-mark once again, as investors relied on the digital currency as an alternative asset, countering the negative effects of a sell-off in emerging markets.

Bitcoin rose to a high of $1,038 on Tokyo-based MT Gox bitcoin exchange, the strongest level since January 7.

Emerging markets that are dependent on external financing are selling off risky assets due to concerns about China's economic slowdown and expectations of further scaling back of economic stimulus by the US Federal Reserve.

The sell-off boosted demand for alternative assets such as the yen and gold. The rise in bitcoin prices indicates that a growing number of investors have added the digital currency into their list of alternative assets.

Volatility

Bitcoin has steadily been gaining in popularity despite the volatility in its value. The virtual currency exists as software and is not backed by any country or banking authority.

It was launched in 2008 and is traded within a global network of computers. They can be transferred without going through banks or clearing houses, reducing fees involved in the services significantly.

It peaked at $1,250 in November 2013, but then plummeted to as low as $640 after China's central bank barred the country's banks and third-party payment processors from dealing in bitcoin.

Bitcoin payments will face big challenges heading to brick-and-mortar but it’ll get there

Recent developments associated with Bitcoin, its silver-like sister Litecoin, and other crypto-currencies forced many merchants to start thinking seriously about accepting these digital alternatives to cash and plastic cards. In fact, some businesses already accept Bitcoin. E-commerce merchants were first to accept Bitcoin; however, just as life once emerged from the ocean to the land, Bitcoin is slowly but surely creeping out of its virtual cradle to the real world of brick-and-mortar merchants.

The benefits of crypto-currency for consumers are well known. They provide:

• Limited anonymity, or pseudonymity — your wallet is anonymous, but its address and transaction records are kept public and can be flagged and traced
• Independence from traditional financial institutions — unless you need to exchange your Bitcoins and get back your dollars
• Decentralization — nobody controls the “main switch” or “emergency brake,” unless the open source client software is compromised
• Fast, reliable, and cheap money transfer between any locations in the world 

Miami Bitcoin Conference Day 2: Litecoin, New Coins and Regulatory Risks

Day Two of the North American Bitcoin Conference in Miami was packed full of speakers and panels.

The two halls at the Miami Beach Convention Center kept attendees on the move. In the promenade areas, a number of bitcoin and cryptocurrency-related businesses were showing off their product and services.

In turn, the Miami Beach area served as a vacation-like backdrop for the event, with parties held on the rooftop of the Clevelander Hotel on both Friday and Saturday night.

Jeremy Allaire: Regulators, Wall Street and Bitcoin Hitting the Mainstream

Last year, bitcoin was nothing more than funny-money criminals used to buy drugs and weapons. Well, that was the story that dominated mainstream coverage of the digital currency.

No longer. The world-changing potential of this decentralised method of digitally transferring ownership is being discussed in serious, if inflammatory, terms everywhere from the US Senateto Chinese state television.

But to make this transition, bitcoin is having to change. No longer the preserve of radical libertarians, bitcoin is beginning to be dominated by a different kind of animal: the suited businessman.

And with Wall Street-types not far behind, the anti-government ideals held by certain parts of the bitcoin community are being rejected and disowned. Bitcoin is beginning to hit the mainstream, but it’s tidying itself up first.

The A,B,C of virtual currency Bitcoin

At a time when the world is awash with cheap paper currencies, the rapid appreciation of the borderless virtual currency, the so-called “Bitcoin”, has attracted a lot of media and public attention. Trading at less than five cents in 2010, the market value of one Bitcoin exceeded US$1,200 (Dh4,407) in November 2013. Currently, there are approximately 12 million Bitcoins in circulation, representing a market value of over $14 billion, well above Iceland’s nominal GDP recorded in 2012. The purpose of this note is to shed some light for starters (like myself) who are puzzled, and sometimes annoyed, for knowing almost nothing about it.

More Cdn businesses accepting Bitcoin digital currency, despite reservations

More Cdn businesses accepting Bitcoin digital currency, despite reservations 

Will that be cash, credit card or Bitcoin?

A small number of Canadian businesses now accept Bitcoin, the digital currency that made its debut five years ago, and has been gaining momentum ever since.

Among the retailers is Quebec bed-and-breakfast operator David Mancini, who expects the payment method will have a practical appeal for foreign tourists visiting his community of Baie-Saint-Paul.

Hong Kong Florist Now Accepts Bitcoin In Time For Valentine’s Day

Flower Delivery Hong Kong Ltd. is pleased to announce they are accepting Bitcoin payment just in time for the Valentine’s Day rush.

Most everyone by now has heard about the Bitcoin.  As the popularity of the currency continues to grow, more and more businesses are seeing it as a viable alternative to cash or credit.

Unlike traditional currency, Bitcoins are not controlled by any government or organisation, so there is no problem with currency exchange or banking authorities.  This means instantaneous transactions, paying for goods and services worldwide and no or very low processing fees.

Now, anyone across the world will be able to place an order on the Flower Delivery Hong Kong Ltd. website and pay without worrying about exchange rates or bank charges.  Place an order; pay with Bitcoins.

“The decision to move to accepting Bitcoin made sense for us,” said Leslie Wu, director, “and this will be a strong increase in our international customer base.”

Valentine’s Day is around the corner, and this will be the perfect time for Bitcoin users to order flowers for family and loved ones.

Flower Delivery Hong Kong Ltd. offers same day delivery on all local Hong Kong orders, and any purchases made online, 10 percent of the profit will be donated to charity.

“It is best to order the Valentine’s Day arrangements now before the actual week before.  This way the order will be ready, flowers on hand, and the delivery will already be set,” said Wu.

All deliveries will take place between 9 a.m. and 6 p.m.  To see arrangements and more, visit the website atwww.flowerdeliveryhongkong.com/en.

source  webwire

Miami Bitcoin Conference Day 1: Crime, Krugman, and BitLicenses

The temperate winter climate of Miami, Florida is serving as a pleasing backdrop for the numerous attendees of the North American Bitcoin Conference.

The symposium, being held at the Miami Beach Convention Center this weekend, brought a huge crowd. Many of the talks were held with all seats full.

In the afternoon, the second hall, used in the morning for merchant vendor workshops, was used as an additional seating area with the speakers being broadcasted on a large video screen.

Here are some highlights from Day One of the conference.

Cash Used More Than BTC for Crime

They say that crime doesn’t pay. It probably doesn’t in the long-term. But criminals still use monetary instruments in order to break laws.

And despite the media exposure bitcoin has received regarding scams, thefts and the sale of illicit goods, most crooks still use cash.

David Aylor is a South Carolina attorney who is involved with what is likely the first case where the federal government has seized bitcoin.

His presentation ’Bitcoin, Dirtier than Real Money?’ made the argument that there’s plenty of good to be had with cryptocurrencies, and that it is going to attract bad actors just like any other technology would.

Craigslist was an example that Aylor used as a tool that can be used for good as well as bad. Bitcoin can be used the same way and the media’s portrayal of BTC is one of the reasons that some people “think bitcoin is evil”, he said.

source

coindesk

Companies and Charities Unite to Promote Bitcoin in Africa

How can for-profit companies and charities work together to promote bitcoin awareness in the developing world?

A handful of different projects launched in Africa recently could point the way forward. There are plenty of worthy causes around the world already accepting bitcoin donations, in both developed and developing economies.

What sets the following projects apart from those, however, is an equally worthy ulterior motive: to actually get bitcoin technology into the hands of recipients and those around them, and to demonstrate its utility in daily life. Each charity is doing it their own unique way.

PR problems

Both the international media and government-backed regulators are always quick to paint bitcoin as a vehicle for money-laundering and drug trafficking, producing a biased first impression to those unfamiliar with its true function.

And in Africa, the number of people unfamiliar with bitcoin is high. It’s up to these projects to make sure the local public’s first encounter with bitcoin is a positive and hopeful one.

ICE3X

ICE3X is not a charity, but South Africa’s predominant bitcoin exchange platform. Trading in bitcoin, litecoin and local currency (Rand) it is KYC compliant, and users are required to be South African residents with identification and a registered local bank account.

But the exchange also seeks to build community acceptance through a philanthropy program, identifying local worthy causes and introducing them to bitcoin while also raising funds.

Its first cause is fighting animal cruelty with “animal warrior” Suzette Kotze, head of the local Society for the Prevention of Cruelty to Animals (SPCA) in the small town of Stilfontein.

Despite its size, Stilfontein deals with over 21 cases of extreme animal abuse per month, and the shelter Kotze operates is fast running out of funds, requiring 30,000 Rand (roughly 3.15 BTC at press time) to continue.

Knowing little about bitcoin or cryptocurrencies, Kotze approached ICE3X after hearing about its appeal for community projects and was fascinated by a system that allowed small donations from anywhere in the world at close to zero cost.

Easy transfers

It would be difficult to hold an international campaign for such a project through traditional payment channels or established charitable organisations. Even PayPal, which often waives fees for charitable causes, does not operate equally in every country.

Bitcoin can, of course, be used to crowdfund non-charitable projects without fees as well.

ICE3X is monitoring the success of its community philanthropy program and is currently vetting five other causes for future support. It does not collect fees or commissions from the organisations.

Company representative Tristan Winters says a good first impression for bitcoin is essential, especially since its greatest disadvantage in African is not misinformation, but sheer obscurity.

source

coindesk

Bitcoin trading firm expands Irish operation

An international Bitcoin trading firm is to expand its Dublin operations to meet growing market demand for its trade in virtual currencies.

The founder of Circle International Financial told the Irish Independentthat the company was embarking on a hiring round that would see its presence in Ireland grow in line with its increased activity in alternative currencies. "What we're showing companies is the utility value of Bitcoin rather than just its intrinsic asset value," said Jeremy Allaire, founder and chief executive of Circle International Finance.

The company recently took on €7m in new funding, making it one of the best-funded Bitcoin-focused firms in the market. As part of the company's expansion in Dublin, Circle is recruiting new jobs in customer support and financial management at its Dublin headquarters.

Mr Allaire says that Circle takes much of the risk out of trading in Bitcoin for companies by setting valuations at the time of a trade.

"Over time, the fluctuations in value will settle down into a more evenly priced currency with all of the attributes, such as hedging, that we see in established trading systems today."

He said that trading in Bitcoin had some inherent advantages over existing currencies.

"One of the problems with current systems is security and fraud," he said. "If you think about it, there are lots of people and organisations who you need to share your sensitive financial information with. Sometimes the system fails and banks have to reimburse customers. That's fine, but it's really an admission of the system's failures. Trading in Bitcoin is a much more secure way of doing it, when established."

Mr Allaire said that mainstream trading organisations were still wary of accepting crypto-currencies such as Bitcoin because of a combination of factors, including low consumer take-up and erratic valuation fluctuations. However, he said that this was changing, too.

"In the last week, we've seen a big US retailer, Tiger Direct, start to accept Bitcoins," he said. "I expect more to accept the currency in time."

Irish Independent

source

http://www.independent.ie/business/technology/bitcoin-trading-firm-expands-irish-operation-29948771.html

California Scientist Seeks Cancer Cure With Bitcoin

Stem cell research, while still in its early stages, holds the opportunity for science to grow its understanding by leaps and bounds, unlocking doors that could protect humans against Alzheimer’s Disease, Cancer, Heart Disease, HIV and AIDS, advocates say.

Researching and fulfilling this potential is the goal of Gene and Cell Technologies, a California-based research center that recently moved into a 3,000-square-foot facility and now accepts bitcoin, as well as hard currencies like gold, for purchases at its online store.

Founded in 2013, veteran stem cell researcher and Gene and Cell TechnologiesCEO John Schloendorn said the company is still “ramping up” its operations, producing the components that it will use when its new center is fully operational.

Just three months in, his team is still focused primarily on the infrastructure that will support its ambitious initiatives, which include investigating stem cells and their use in cures to some of mankind’s most notorious diseases.

Source coinbase

Roll up for Branded coins, Roll on the Robot Overlords – or Just Roll Your Own

a regular look at the hottest, most controversial and thought-provoking events in the world of digital currency through the eyes of skepticism and wonder. Your host … John Law.

Brand-new brand news

How many currencies are there? That’s an unanswerable question. If you define currency as nation-state backed traditional notes-and-coins currency, then there are around 170, lightly fewer than the 190-odd countries in the world. If you mean tokens of value, then who knows – you can count anything from Costa Coffee loyalty card stamps to gambling chips.

As for cryptocurrencies: last time anyone counted, there were 140 or so. By the time you read this, they’ll probably be on a par with the fiat brigade. And, ifmarketing outfit Humint’s plans come to fruition, there could be thousands.

source coinbase

Solarcoin Awards Coins for Solar Power Generation

Most altcoins seem to tweak technical or monetary principles. Here’s one with a single purpose: to promote renewable energy. It’s calledsolarcoin, and people are mining it now.

The brainchild of Nick Gogerty, principal at Thoughtful Capital Groupand self-proclaimed “deep finance geek”, solarcoin is designed to reward people for producing energy via photovoltaic solar panels.

Gogerty, who advises hedge and mutual funds on equity investing, is all about the mechanics of value creation. He has a book coming out on how to create value in the adaptive economy.

The initiative is based on a paper that Gogerty co-authored in 2011. “The concept was how a central bank could use energy as a currency and how that could tie into an economy. Nothing came of that, due to the fact that you needed a central bank,” he says.

source coinbase

Coinpunk Crowdfunding Bitcoin Wallet That Apple Can’t Ban

Open-source bitcoin project Coinpunk has launched an Indiegogo campaign in an effort to raise funding for a new wallet solution that could be used on iOS devices without a jailbreak.

Apple has a history of restricting bitcoin-related apps in the app store (which contains over 1 million apps). Thus, Coinpunk is not designing an app, but a web application.

The web application allows users to create self-hosted bitcoin wallets and access them through the browser, rendering Apple’s walled garden approach pointless. The idea of self-hosted wallets is interesting, as many users are still suspicious of online wallets, so they tend to believe their bitcoins are safer in their own hands.

Coinpunk is based on HTML5, and it is accessible from Safari, Apple’s stock iOS browser. Better yet, since it is a web-based HTML5 application, it can be used on almost any platform out there – Windows, Android, Mac OS X, etc.

100% open source

Source coinbase

CoinSeed Announces $5m Investment in BitFury Mining Gear

Las Vegas-based bitcoin investment fund CoinSeed announced a substantial investment of $5m in mining hardware on 23rd January.

CoinSeed revealed that it has acquired $5m worth of BitFury’s 55 nanometre bitcoin hardware, but that this is just its first step in its larger vision to become a large-scale bitcoin clearing house, one that will be able to someday process the real-time transactions it says bitcoin will need to truly compete in payments.

The announcement might not sit well with some members of the bitcoin community, especially among miners and those who frown upon centralisation.

CoinSeed’s Merlin Kauffman, however, suggested such sentiments risk holding the wider bitcoin community back at a time when companies like his own are seeking to improve and scale the currency’s infrastructure.

Australian Bus Commuters Can Soon Pay Fares With Bitcoin

A team of mobile developers in Canberra, Australia, is aiming to be the first in the world to allow public transit users to pay for rides in bitcoin via its MyBus 2.0 app.

MyBus 2.0 is a timetable and route-planner app on Canberra’s extensive bus network ACTION, which is also the city’s primary public transit system. Developers Imagine Team Solutions announced the app now has more than 50,000 active users.

To celebrate that milestone, it turned its attention to ACTION’s prepaid fare smartcard system, MyWay. MyWay automatically deducts the correct fare when a passenger touches the card against a reader upon entering and exiting the bus.