Eye of the Beholder – Let’s Talk Bitcoin Episode 137
Thursday, August 21, 2014
cbsnews.com / AUGUST 18, 2014, 8:41 AM - Erik Finman, a 15-year-old from northern Idaho, founded an online education program that links students with instructors around the world. Michelle Miller reports on his story. - SOURCE: http://www.cbsnews.com/videos/after-100000-bitcoin-score-15-year-old-creates-startup
|Liberty Wallet: A New Bitcoin Paper Wallet|
libertywallet.liberty.me / Otto / Aug 18, 2014 - Now the libertarian money looks even more libertarian. You can carry the bitcoins in your wallet with style. The idea is also to promote Austrian school of economics.
The wallet offers more secure way to store your bitcoins. The paper is folded two times and the private key stays inside of the wallet. That way you can be sure that no one has seen nor copied your private key.
Just follow the dashed lines at the back side and cut it open.
Afterwards the private key will be exposed and you can spend the funds. - READ MORE: http://libertywallet.liberty.me/2014/08/18/liberty-wallet-a-new-bitcoin-paper-wallet
|Industry Chief: Payments Firms Warming to Bitcoin Partnerships|
coindesk.com / Pete Rizzo / August 19, 2014 at 10:32 BST - Due to bitcoin’s perceived benefits as a more efficient and less costly alternative to traditional payment options, many in the digital currency industry view incumbent payment service providers as antiquated competitors – firms that will be disrupted out of business when the technology matures.
Now, at least one notable payments industry trade association indicates that its members may be recognizing that bitcoin possesses this disruptive potential, and that this may soon lead to a rise in partnerships between traditional electronic payments providers and bitcoin startups.
In a new interview with CoinDesk, Electronic Transactions Association (ETA) CEO Jason Oxman talked at length about his organisation, how the digital currency can better execute its agenda in Washington and bitcoin’s potential appeal to the traditional payments industry. - READ MORE: http://www.coindesk.com/industry-chief-payments-firms-warming-bitcoin-partnerships
|How Bitcoin might transform international payments — a lifeline for millions|
venturebeat.com / Roger Huang / August 17, 2014 12:30 PM. It’s September, 13th, 2008. One of the most powerful men in America is about to foresee an earthquake in the financial system, something that will change the world.
Jamie Dimon, the head of JP Morgan Chase, has seen it all—but even he has to steel himself for this moment. “You are about to experience the most unbelievable week in America,” he says over the phone to his employees.
Tomorrow, the headlines will screech about Lehman Brothers’ impending demise. A recession will question a central premise of modern economics: that we had it all figured out.
Robert Lucas, one of America’s most prominent economists, put it best: “the central problem of depression-prevention [has] been solved, for all practical purposes.” - READ MORE: http://venturebeat.com/2014/08/17/how-bitcoin-might-transform-international-payments-a-lifeline-for-millions
dna-wealth-blueprint.com/ August 18, 2014 We ventured to Singapore where there are currently up to 4 different ATMs – the Lamassu, Singaporean Numoni, Robocoin (this one will be also in the Czech Republic) and Tembusu (this one was unfortunately out of order). We got to try depositing as well as withdrawing Bitcoin. We rated the ATMs based on personal preference so please don´t take it too seriously and make your own opinion. ATMs we tested READ MORE: http://dna-wealth-blueprint.com/testing-bitcoin-atms-in-singapore
Testing Bitcoin ATMs in Singapore
|TV Giant DISH Launches Bitcoin Payments Program|
coindesk.com / Pete Rizzo / August 14, 2014 at 13:45 BST - DISH customers can now use bitcoin to pay their monthly TV bills.
The Colorado-based company went live with its bitcoin payments program today as part of its previously announced third-quarter rollout.
The first customers to pay for DISH services using bitcoin are Austin and Beccy Craig. The American couple have famously chronicled their attempts to live using only digital currency on their Life on Bitcoin blog.
Speaking to CoinDesk, DISH head of corporate communications John Hall framed the news as part of the company’s overarching goal to embrace innovation. - READ MORE: http://www.coindesk.com/dish-bitcoin-payments-launch
|Sebastian Krause, CEO of Asicrising GmbH. Asicrising GmbH|
blogs.wsj.com / STEPHAN DÖRNER / Aug 15, 2014 8:27 am ET
A German start-up is looking for funding to produce a new high-performance microchip that it says would make bitcoin mining much less energy intensive, and thus cheaper.
This is important because ‘mining’ the cryptocurrency—essentially a process of solving complex mathematical problems —requires vast computing power and cooling systems so that the purpose-built processors, called application-specific integrated circuits [ASICs], don’t overheat.
Dresden-based ASICrising GmbH, which is in the process of changing its name to CoinBau AG, says it has found a solution to the problem: an energy-efficient, low-voltage chip that together with software will reduce by half the energy needed to mine bitcoin, the company’s chief executive Sebastian Krause told The Wall Street Journal. - READ MORE: http://blogs.wsj.com/digits/2014/08/15/german-startup-says-its-new-chip-halves-bitcoin-mining-energy
Friday, August 15, 2014
blogs.wsj.com / PAUL VIGNA and MICHAEL J. CASEY
- Blockchain has doubled its wallet base in just seven months, the company announced this morning. It crossed the two million mark on Monday, twice the one million wallets it had in January, and it makes the company the first to achieve that mark. It also shows that, despite the dearth of big headline stories this year, interest in bitcoin continues to grow rapidly.
It’s certainly growing faster than the company anticipated. “The one thing that we’ve seen about projections is that growth usually exceed our projections,” Peter Smith, Blockchain’s chief operating officer, said in an interview with MoneyBeat Monday. Mr. Smith said the company hit the two million mark about two months earlier than they’d expected. - READ MORE: http://blogs.wsj.com/moneybeat/2014/08/11/bitbeat-blockchain-hits-two-million-wallet-amid-strong-interest-in-bitcoin
coinrepublic.com / DAVID MOSKOWITZ / AUGUST 12, 2014
David visits BullionStar’s storefront in Clark Quay Singapore to purchase some gold with Bitcoin.
According to CEO Torgny Persson, Singapore has no reporting requirements for the purchase of tax exempt bullion sold at their store. - READ MORE: http://coinrepublic.com/buying-gold-with-bitcoin-in-singapore-at-bullionstars-storefront
Buying Gold with Bitcoin in Singapore at BullionStar's Storefront
|Deutsch: Goldbarren mit einem Gewicht von 12,5 kg. Goldbarren dieser Größe befinden sich meist nur im Besitz von Zentralbanken Polski: Sztabka złota ważąca 12,5 kg. Własność Narodowego Banku Polskiego. (Photo credit: Wikipedia)|
forbes.com / Edmund Ingham / 8/11/2014 @ 8:02AM
If you were to ask most investment professionals to explain the difference between bitcoin, lowercase, and Bitcoin, upper case, they would probably stare at you blankly.
But for Jan Skoyles, recently promoted from Head of Research to CEO at The Real Asset Company, who provide a platform for retail investors to gain access to the gold bullion markets, the distinction is the basis for a new kind of wealth-management that provides an alternative to the regulated financial services industry.
Bitcoin, upper case, refers to the technology behind the online currency, the fabled “block chain”, rather than the currency itself (bitcoin, lower case), and there are distinct advantages for an investor in the way the technology was built by the mythical Satoshi Nakamoto, Bitcoin’s creator.
The block chain is the public ledger where every bitcoin transaction, however large or small, is recorded; it is updated by so called “miners”, who process transactions at high speed and are rewarded for their efforts with freshly mined bitcoins. - READ MORE: http://www.forbes.com/sites/edmundingham/2014/08/11/a-crypto-currency-backed-by-gold-how-retail-gold-investors-can-benefit-from-bitcoins-technology
bitcoinwarrior.net / Mark Norton / 8/10/14 “Bitcoin is not political,” a growing number of people are saying as it grows in popular usage. Initially, Bitcoin found a home among the libertarian crowd because of its decentralized nature and the more people begin using the currency, the libertarian fervor wanes. Ultimately this is a good thing since if Bitcoin is to succeed, it’s going to need to be used by people of with a wide diversity of political thought.
But that doesn’t mean that Bitcoin is not political. It’s political at its heart. It’s just that its politics are harder to pigeonhole than with a simple term like ‘libertarian.’ Bitcoin was not born out of a vacuum, but out of the abuses of power in our governmental and financial systems that rig the game in favor of the well-off and leave the rest of us wondering how to get by. Bitcoin returns some of the flexibility and privacy to our finances that we used to have before the government and banks ratcheted up demands on our information and banks began to impose high fees and penalties in accordance with labyrinthine rules only an accountant could understand.
According to this report, Chase bank has even started requiring people to prove where they got money they are depositing in order, as they say, to impede illegal activity. Any time controls like this are put into place, we are told that they are for our protection, minor inconveniences to impede criminal activity. It also gives them incredible power and incredible opportunity for abuse. And, unfortunately, the people running the government and the banks are merely human. They are tempted by power and control, they are motivated by fear and prejudice. It’s the tendency of governments to exceed their mandate and it’s the responsibility of the people to make sure that they do not. With the rise of the internet, it’s gotten harder and harder to contest that power. Bitcoin, among other decentralizing technologies, gives us the potential to counter that power.
Monday, August 11, 2014
|European bitcoin business is growing (Photo credit: zcopley)|
forbes.com / Alison Coleman / 8/03/2014 @ 11:18AM The collapse of digital currency exchange Mt Gox earlier this year may have cast major doubts over the future of bitcoin, but the industry has continued to evolve at pace, and investment in bitcoin companies appears to show no signs of slowing.
In the second quarter of this year bitcoin start-ups raised over $76.8 million; not far short of the $85 million raised in the whole of 2013 While VC investment in bitcoin is far higher in the US than in Europe – $200 million compared with around $10 million in the last year – thanks to innovation within the most active continental countries, cumulatively, these now represent around 25% of the global bitcoin network.
A number of successful bitcoin companies have already emerged from Europe, including Stockholm-based KnC, Finland’s Localbitcoins.com, the Dutch BitFury, and blockchain.info, launched in the UK.
Europe is also home to several well established bitcoin clusters, the largest based in London and Amsterdam, as well as Berlin, Zurich and Paris, where Europe’s first bitcoin centre, La Maison du Bitcoin, was recently opened by entrepreneurs Thomas France and Eric Larchevêque. - READ MORE: http://www.forbes.com/sites/alisoncoleman/2014/08/03/europes-bitcoin-entrepreneurs-winning-investor-seal-of-approval
coindesk.com / Carrie Kirby / August 3, 2014 at 13:45 BST When Steve Jobs was a boy, he looked up the name “William Hewlett” in his local phone book and was able to reach the founder of Hewlett-Packard at home. The elder technologist offered the future Apple Computer founder advice, some free components and a summer job.
Anecdotes like that make it clear how geographical proximity can help one wave of innovation set up the next. Even now, when it’s unlikely any young entrepreneur will be able to find Mark Zuckerberg in the Palo Alto phone book, hopefuls with ideas still flock to the stretch of towns flanking the San Francisco Bay. The accelerators are there, as are the venture capitalists’ offices, the networking events and the pool of engineers.
Would bitcoin benefit from geographic concentration as much as the tech industry has? Silicon Valley veteran and investor Marc Andreessen raised the idea in a recent article titled “What It Will Take to Create the Next Great Silicon Valleys, Plural”.
“Imagine a Bitcoin Valley, for instance, where some country fully legalizes cryptocurrencies for all financial functions.” - READ MORE: http://www.coindesk.com/bitcoin-need-silicon-valley
Tuesday, August 5, 2014
forbes.com / Anthony Cuthbertson / 7/29/2014 @ 9:30AM
Cryptocurrency is child’s play, at least that’s what a new wave of educational programs, apps and even kid-friendly cryptocurrencies would suggest.
While most adults may still be baffled by bitcoin and bemused by blockchains, a new generation is being introduced to this alternative form of finance by advocates aiming to bring about a “digital currency revolution”. Their belief is that our current financial system can be overthrown by those who don’t even yet have bank accounts.
The latest initiative comes in the form of ‘The Bitcoin Alphabet – For Kids and Everyone Else’, a recently launched app that sets out the A to Z of bitcoin through a mixture of illustrations and text explaining everything from ‘altcoin’ to ‘zero-confirmation transactions’.
The author of the app, Chris Bozak, came up with the idea in the belief that cryptocurrency is a “wonderfully inevitable rabbit hole” that will force the world to re-learn everything that is currently known about money. - READ MORE
Ariel Zambelich/WIRED | wired.com / KLINT FINLEY / 07.28.14 7:11 PM
It looks like Apple has finally changed its stance on bitcoin.
Six months after Apple removed Blockchain from its online App Store—effectively preventing people from using the popular bitcoin wallet app on the iPhone and the iPad—the tech giant has now allowed the app back into the store. “This seems to be the first strong and real sign they are ready to accommodate future digital currency development,” the makers of Blockchain said a statement, referring to Apple. “It goes a long way to legitimizing bitcoin and now provides hundreds of millions of iOS users access to bitcoin applications.”
The news arrived on the heels of Apple approving a newer wallet app called Coinpocket for inclusion in the App Store, and for Blockchain CEO Nicolas Cary, this proves that Coinpocket is no fluke. That’s a big deal for the world of bitcoin, a currency that exists only on the internet, independent of governments and free from the control of big banks. The currency entered the consciousness of the general public last year—in a very big way—but has since struggled to significantly expand its reach, due to various setbacks. Maybe the iPhone and the iPad can help restart its engines.