Fidor Bank Partners With Kraken to Create Cryptocurrency Bank

Published by Drew Cordell on November 1, 2014

Fidor Bank, a German Web 2.0 bank, is partnering with Kraken to launch an initiative that will create a specialized bank for cryptocurrencies. The project aims to create a regulated and licensed financial service institution. The project will combine several products and services from various companies to offer a great variety of financial products and services that are geared towards cryptocurrencies.

Go to article

Good Bye Traditional Banking Secrecy, Bitcoin to the Rescue

Published on October 31, 2014 by Giulio Prisco via cryptocoinsnews.com

The New York Times, RT and many other top news outlets report that 51 nations on Wednesday signed what Germany’s finance minister hailed as a milestone in the fight against tax evasion – an agreement that commits them all to automatic exchange of tax information starting in 2017.

Go to article

Small Australian City Plans for a Big Bitcoin Economy

Published on October 29, 2014 by Jon Southurst via CoinDesk

A plan to build the “world’s largest” local bitcoin-based economy is underway in the city of Launceston, Australia, with support from local businesses and even government. Project organizers say the compact Tasmanian city with a population of 106,000 will make a good high-density testing ground for bitcoin. The plan is aimed to cover various levels of the business supply chain, allowing users to both receive and spend their bitcoins, rather than simply converting them to Australian dollars.

Go to article

Unable to Get Dollars, Venezuelans Turn to Bitcoins

Published by Payton Guion on October 14, 2014 via Vice News

Most of the world’s economies run in accordance to the old Wu-Tang Clan mantra of C.R.E.A.M.: “cash rules everything around me.” The idea is pretty straightforward: if you have cash, you can buy things. If you don’t, you can’t.

But in Venezuela, citizens can have buckets of bolivares (the national currency) and still find themselves unable to buy the sorts of goods that many in the developed world take for granted.

Currency controls imposed by the late Hugo Chavez in 2003 and maintained under his successor Nicolas Maduro make it difficult for Venezuelans to exchange bolivares for US dollars and other foreign currencies. They are also limited to just $300 for online purchases per year — a minuscule amount in a country that has to import almost everything.

Go to article

Banking Elite Meet in Washington To Discuss Bitcoin Threat

Published by Evander Smart on October 13, 2014 via cryptocoinsnews.com

The Institute of International Finance held its annual membership meeting in Washington this past weekend, and banking elite from all over the world convened to discuss many topics.  The newest topic of discussion at this year’s meeting, one that had eluded them in previous years, was a threat to traditional banking embodied by Bitcoin and other crypto-currencies.  What should banking “do” about a Bitcoin threat?  What can they do about it?

Go to article

Pakistan’s First Bitcoin Exchange Launches with Community Building Ambitions

Published on October 11, 2014 by Tanaya Macheel via CoinDesk

urdubit

Pakistani bitcoin exchange Urdubit launched today in an effort to facilitate greater adoption of the digital currency in the region. The launch aims to usher Pakistan into the wider bitcoin community, as its operators are bullish on the digital currency’s potential as a solution to greater geopolitical issues in the area. For now, Urdubit is focused on bringing liquidity to local bitcoin trading markets and educating newcomers on its promise as a decentralized commodity. Its founding partners, Zain Tariq and Danyal Manzar, are the founder and chief operating officer, respectively, of bitcoin community and advocacy group BitcoinPk.

Go to article

400 European Banks Accept Bitcoin Purchase Agreement

Published by Evander Smart on October 4, 2014

More European banks are becoming associated with Bitcoin. While short-term investors see the dollar price drop on Bitcoin, and panic sell in droves, Bitcoin gains another major international deal signing in Europe. 247Exchange.com, based out of Belize, has secured an agreement with Sofort Banking, providing Bitcoin purchasing access to over 22,000 European bank branches throughout the continent.

Go to article

Bitcoin converter Circle opens to the public worldwide

Published by Don Reisinger on September 29, 2014

Circle, a startup focused on enabling average folks to convert hard currencies into the digital kind, has officially launched across the globe. The Bitcoin-focused service, which was available only in testing over the past year, is now open to the public worldwide in seven languages, including English, Chinese, Japanese and Spanish, Circle announced Monday. The company’s language support means it can accommodate 40 percent of the world’s population, Circle said.

Go to article

Global Advisors Bitcoin Investment Fund PLC deploys first round of Client Capital

Published on September 22, 2014 by futuresmag.com

Global Advisors Bitcoin Investment Fund (GABI) completed its initial offer period in early September. We are pleased to announce that following this successful launch; we have taken the first step to deploy the Fund’s assets into bitcoins. Recent price weakness has been observed and attributed to a series of factors. The withdrawal of UK banking services on the Isle of Man, issues with the NYDFS Bit-license, Russian Treasury comments and weakness in gold markets are elements which contributed to recent price weakness. We timed our entry to the bitcoin market accordingly. We believe the resulting entry point represents an opportune moment to initiate our first round of capital deployment.

Go to article

Bitcoin’s Price Skyrockets Following PayPal’s Hug

Published by Alex Wilhelm on September 23 2014 via TechCrunch

Screen Shot 2014-09-23 at 11.27.34 AM

This morning, PayPal rolled out broader support for bitcoin, allowing merchants to accept the cryptocurrency as payment for digital goods. The reaction to bitcoin itself has been immediate and positive.

The PayPal integration is minor — users won’t be able to start stashing their bitcoin in their PayPal accounts, but merchants that use certain PayPal services, and are located in North America, will be able to accept bitcoin. PayPal is relying on several bitcoin payment providers to manage the transactions. The implication there is that PayPal, and its parent company eBay, will never hold bitcoin themselves.

Go to article

Bitcoin gets boost as U.S. watchdog approves first swap

By Douwe Miedema on Sep 12, 2014 via Reuters

TeraExchange on Friday launched a swap based on the bitcoin virtual currency, becoming the first to receive approval from a U.S. federal regulator for a financial product based on the budding technology.

The derivative allows clients to protect the value of their bitcoin holdings by locking in a dollar value, offering an insurance against the astronomical price swings that have plagued the computer-generated currency.

 

Go to article

First-World Solutions, Third-World Problems?

via medium

Apple’s announcements yesterday — literally a day after Braintree & Paypal announced their new love affair with Coinbase and Bitcoin, respectively — has thrown the crypto community into a two-stage loopdeeloop. At Techcrunch Disrupt, the CEO of Braintree announced that they would be working with Coinbase to integrate Bitcoin payments into the Braintree platform. Braintree doesn’t have much of a presence in the Philippines, although their merchants include A-list brands such as Airbnb, Uber, and LivingSocial. Although Braintree is an EBay company (they bought them for $800MM last year), this announcement doesn’t necessarily mean that Paypal itself will be using Bitcoin anytime soon but, when coupled with the almost cult-like video ad they produced, it’s a very good sign.

Go to article

Hacker Hijacks Satoshi Nakamoto’s Email, Threatens to Reveal All

Published on September 9, 2014 by via CoinDesk

The bitcoin world is abuzz with speculation some of Satoshi Nakamoto’s online accounts have been compromised, concerned a hacker could potentially access information concerning the bitcoin creator’s true identity or use the accounts to defraud key members of the bitcoin community.

Wired reported that the alleged hacker had posted on Pastebin that they would reveal key details of Nakamoto’s identity if 25 BTC were sent to a specified bitcoin address. While small donations have been coming in, the address still appears well short of that mark.

Administrator ‘theymos’ of the Bitcoin Talk forum (aka Michael Marquardt) a key figure in bitcoin’s online community, posted just after 9pm BST on 8th September, alerting the community of the development, writing:

Go to article

Two Firms Race to Bring a Publicly Traded Bitcoin Fund to Market

By Rob Curran on Sept. 7, 2014 via The Wall Street Jornal

Brothers Tyler and Cameron Winklevoss hope to issue a bitcoin ETF. Getty Images

Talk about a bit of risk: Meet the bitcoin funds. Some wealthy investors are already buying into a trust that tracks the average dollar price of the virtual currency. And the firm behind that trust is racing one other to bring bitcoins to the masses in the form of a publicly traded fund. Bitcoins were worth about $10 each less than two years ago, then more than $1,100 a few months later, and now trade around $475. While some analysts expect a surge in the price of bitcoins as soon as a publicly traded fund draws new investors into the market, prospective fund investors should consider three extraordinary risks.

Go to article

Cryptocurrency Round-Up: Workers Want Wages in Bitcoin, 200 Bitcoin ATMs Worldwide and US Regulation

By Anthony Cuthbertson on September 2, 2014 via ibtimes.co.uk

Bitcoin has stabilised slightly over the last 24 hours, though not at a level that many users would be happy about. The price of one bitcoin currently sits at around $475 (£286, €362), almost exactly $100 down on what it was at this time last month.

Go to article

Huobi’s Fixed-Return Financial Product Sells Out in One Hour

Published by  on September 2, 2014 via Coindesk

Huobi has sold all available subscriptions to a new 60-day fixed-term financial product for bitcoin investors.

The latest product from the Beijing-based exchange, which is effectively a bitcoin ‘certificate of deposit‘, is called ‘Dig-VC‘ and offers a guaranteed interest rate for investors. Notably, returns are backed by Digcoin – a new bitcoin mining services platform built by Huobi.

Go to article

200+ Bitcoin ATMs Globally and Counting: Grand Rapids, Albuquerque, Budapest and More

by Bogdan Ulm on 2014-09-01 via Cointelegraph

According to Bitcoin ATM Map, a website providing a service that tracks Bitcoin or other cryptocurrency ATMS around the world, there are 208 Bitcoin ATMS operating on six continents. Thanks to this website everyone can easily check the location of the nearest BTM, which stands for Bitcoin teller machine and is also called Bitcoin ATM. What is more, the website provides machine’s details such as address, operating hours, direction (fiat to cryptocurrency and vice-versa), and even fees if applicable.

Go to article

U.S. Survey: 43% of Young Respondents Likely to Purchase Bitcoin

by Alyssa Hertig on 2014-09-01 via Cointelegraph

According to a fresh national-wide survey from the Conference of State Bank Supervisors (CSBS), 6% of respondents are ‘very likely’ and 12% are ‘somewhat likely’ to purchase Bitcoin. 17% said they weren’t sure.

Yet, younger voters averaged much higher. 43% of 18-24 year old participants indicated they were ‘very likely’ or ‘somewhat likely’ to purchase Bitcoin while only 8% of respondents older than 55 said the same. Of course, older generations tend to be less inclined to touch new technologies.

Go to article

Bitcoin Is Here To Stay

NEW YORK (Reuters) – Bitcoin is catching on at U.S. online merchants including Overstock.com and Expedia, as customers use a digital currency that just a few years ago was virtually unknown but is now showing some staying power. Though sales paid for in bitcoin so far at vendors interviewed for this article have been a fraction of one percent, they expect that as acceptance grows, the online currency will one day be as ubiquitous as the internet.

Go to article

Published on Aug. 28, 2014 by Gertrude Chavez-Dreyfuss and Michael Connor via Reuters

Bitcoin shows staying power as online merchants chase digital sparkle

(Reuters) – Bitcoin is catching on at U.S. online merchants including Overstock.com and Expedia, as customers use a digital currency that just a few years ago was virtually unknown but is now showing some staying power.

Though sales paid for in bitcoin so far at vendors interviewed for this article have been a fraction of one percent, they expect that as acceptance grows, the online currency will one day be as ubiquitous as the internet.

Go to article

Published by Gertrude Chavez-Dreyfuss and Michael Connor on Thu Aug 28, 2014 via REUTERS