Those within the industry understand that one of Bitcoin’s most important features—and perhaps its true core innovation—is its decentralized structure. Bitcoin has no central control: no central repository of information, no central management, and, crucially, no central point of failure. And yet, most of the
ATLANTA–(BUSINESS WIRE)–BitPay, the world’s leading bitcoin payment processor, is supporting the American Red Cross by helping the organization accept bitcoin donations through a BitPay hosted webpage. BitPay will be processing the bitcoin donations without any fees, so the Red Cross will receive 100 percent of
The first bitcoin automatic teller machine in Queensland has been seized as part of an investigation into an alleged drug trafficking network linked to the Bandidos bikie gang. Police gang squad officers seized the ATM on Friday morning in a joint raid with customs officials
Brisbane-based bitcoin BPAY startup Living Room of Satoshi has suspended operations, after the Australian Tax Office’s decision to treat bitcoin as property made its business model impractical. The startup offered a service free to users which allowed them to pay BPAY bills using bitcoin. It
Investing.com – Bitcoin prices hovered below the $400-level on Wednesday, as investors sold the virtual currency amid bearish chart signals. Bitcoin (BTC/USD) fell $17.17, or 4.21%, to trade at $390.93 on Slovenia-based BitStamp during U.S. morning hours. BitStamp rallied to $416.65 on Tuesday, the strongest
Labor senator Sam Dastyari has warned Australian banks not to “act like a bunch of ostriches” with their “heads in the sand” when confronting the rise of bitcoins, as he urged companies to provide feedback to a Senate inquiry into how to regulate the highly
New York’s bitcoin regulations may not be as onerous as many have feared. In a speech at Cardozo Law School in New York on Tuesday night, Benjamin Lawsky, superintendent of financial services for the state of New York, said that the state will not require
Back in March, Newsweek published what would have been one of the year’s biggest technology scoops. An article by Leah McGrath Goodman claimed to have unmasked Satoshi Nakamoto, the reclusive — and likely pseudonymous — genius who invented Bitcoin. Goodman pointed to an elderly Japanese-American
The value of bitcoin has dropped considerably recently, which some commentators have attributed to Chinese bitcoin holders cashing in the virtual currency in large amounts to purchase shares in Chinese internet giant Alibaba, which went public last week on the New York Stock Exchange, reports
US regulators have moved to shut down Butterfly Labs, a Missouri-based company they allege deceptively marketed computers designed to produce the virtual currency Bitcoin. The Federal Trade Commission (FTC) said the company charged thousands of consumers between $20m-$50m for its Bitcoin computers and services, but
EBay Inc. EBAY +0.51% payments unit PayPal is further integrating bitcoin into its payment processing operations, allowing digital goods merchants to accept the virtual currency via its PayPal Payments Hub service. The arrangement, established via partnerships with the three largest bitcoin-payment-processing firms, BitPay, Coinbase and
Environmental campaign organization Greenpeace has announced it will start accepting bitcoin donations in its USA division via a partnership with payment processor BitPay. The move offers cost savings for the organisation, as well as the possibility of tapping into new sources of funds. Greenpeace does
Four MIT students behind an award-winning Bitcoin mining tool will face off against New Jersey state authorities in court today when they attempt to fight back against a subpoena demanding their source code. The Electronic Frontier Foundation is representing 19-year-old MIT student Jeremy Rubin and
The creator of bitcoin appealed to WikiLeaks founder Julian Assange not to use the cryptocurrency to receive donations due to fears that government attention would “destroy” it. The revelations surfaced from Assange’s latest book that comes out this week, When Google Met WikiLeaks. In a
The United Way Worldwide has long offered several ways for supporters to donate, such as workplace campaigns, planned giving and donating stock. A new option was added this week — bitcoin. The move makes United Way Worldwide the largest charity to accept a virtual currency.
Capital Treasury Services (CTS), the company that links bitcoin businesses to banks in the Isle of Man, is to cut ties with the digital currency sector as of next month. CTS, which is a subsidiary of Capital International Group, currently works with a number of
A local exchange plans the first Bitcoin ATMs in Australia starting with Melbourne.
And 21st Century Bitcoin Exchange says discussions will start soon with the government on regulating the Bitcoin market.
“With Bitcoins revolutionising traditional monetary transactions, Australia-based 21st Century Bitcoin Exchange is the first company to set up a Bitcoin ATM in the country,” the company said in a written statement.
The company, which established www.bxe.com.au, is backed by 21st Century Media and Education Group of Companies and US Company International Operations LLC.
21st Media CEO Jamie McIntyre, who is hosting Australia’s first Bitcoin Global Conference in Melbourne in March, says he is trying to secure the Winklevoss twins (who shot to fame for suing Facebook) as the headline speakers at the event.
The twins reportedly invested $11 million into Bitcoin a few years ago.
Originally posted 2013-12-30 01:53:16.
Agora Commodities has teamed up with New Liberty, the makers of the Bitcoin Silver Specie, in order to shorten much of the gap that still exists between the historical standard of money i.e., gold and silver and the digital world’s first currency, Bitcoin.
The possibility of silver specie being an integral part of Bitcoin’s promising future is highly likely. Gold and Silver are great for in person transactions but are highly burdensome as distance and countries increase. Bitcoin is very useful in sending money throughout the world but lacks luster at point of sale due to its need of six network confirmations before you can trust you actually have your bitcoin.
Bitcoin’s value is consensus based, not backed, and not intrinsic. Bullion is the opposite. The hope is that by providing this offering Agora Commodities creates a way to unify these, and in so doing make each better than they could be alone.
Agora Commodities, already the largest bullion dealer accepting bitcoin for payment, is confident that sound monetarist throughout the world will embrace this new bullion standard. Visit Agora Commodities to secure your Bitcoin Silver Specie.
Originally posted 2013-12-29 04:16:40.
Web and systems development firm, Vandelay Web, announced Friday that they would now accept the online currency, BitCoin, as a valid form of payment for their services. Per coinmap.org, Vandelay Web will be one of only nine merchants in the metro Atlanta area to accept the new digital currency.
Vandelay Web president and founder Mark Runyon said of the move, “We are a big believer of this new digital currency. Regardless of its inherent volatility, we know BitCoin will become an important fixture in the global economy in the days ahead. Not many businesses want to be the first to move on accepting BitCoin payment, but we fully support this technical innovation and want to see it grow.”
The announcement comes as the cryptocurrency, currently trading around $750 a coin, hit an all-time high of $1130 per coin in early December. At the end of 2012, it was trading as low as $13 a coin. Other high profile companies like Overstock.com and Reddit have recently announced they will be accepting the currency as payment.
Beyond the currencies meteoric rise, Bitcoin has been a hot button topic in the news lately as China’s central bank has said its citizens can’t make new deposits in the currency. It also came under fire recently with the shutdown of illegal marketplace Silk Road. The peer-to-peer nature of the BitCoin network made it easy to conduct illicit transactions on the Silk Road marketplace. Once federal authorities shut down the site, seizing all of its assets, the government instantly became the largest holder of a BitCoin wallet on the Internet.
Runyon went on to say, “I believe the biggest thing standing in the way of BitCoin is acceptance. More businesses need to discover its value and take the lead. The technology is amazing, and BitCoin providers, like Coinbase and BitPay, are giving merchants more apps and tools to easily accept and process funds. Vandelay Web is excited to be leading the charge.”
Headquartered in Flowery Branch Georgia, Vandelay Web focuses on building websites and internal corporate systems for small to medium-sized businesses. The firm also runs web marketing and SEO campaigns for businesses as well as assists clients in constructing their social media strategy.
Originally posted 2013-12-29 03:21:15.