Bitcoin News for the week of 7/18/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. We take another look at the price of bitcoin this week which has been very stable since the halving when the block reward reduced by 50%. There were some interesting updates with bitcoin development which we shared, and we also learned that event the Bank of England is testing the waters when it comes to digital currency. Get all this news and more, in our weekly Blockchain recap.

Bitcoin price goes sideways

Bitcoin price chart via Markets.Blockchain.info
Bitcoin price chart via Markets.Blockchain.info

Will the Brexit and China Continue to Influence Bitcoin Prices?

Macroeconomic uncertainty has spurred investment interest in bitcoin in recent weeks, but is this likely to continue? According to CoinDesk, prices have pushed up 50% from the 1st of January, and two key drivers were, at least according to market observers, uncertainty in China (where the yuan has been devalued) and Europe (where the UK voted to leave the EU in an event known as the ‘Brexit’).

Looking ahead to the second half of the year, it remains unclear, however, if these events will continue to be factors impacting digital currency price movements. Some are speculating if the recent events in Turkey will also spark interest in bitcoin. In an article from Bitcoinist, they said “Japan and South America have become much more involved in digital currency,” stating that regional interest across the globe may push the price higher over time.

The price of bitcoin is always an interesting hot topic, which may be a reason why 8,300 people are using the IFTTT developer platform to track the price using their alert-triggering system.

Bitcoin Development and Innovation

Rootstock home page via RSK.com
Rootstock home page via RSK.com

Here’s Rootstock’s Spin on the Bitcoin Sidechains Concept

Rootstock is a bitcoin sidechain currently in development by RSK Labs. It is a platform for distributed smart contracts, much like Ethereum, but the fact that it’s a bitcoin sidechain means that it will use the bitcoin currency by default. During a recent interview with Epicenter Bitcoin, RSK Labs Chief Scientist Sergio Lerner explained how the two-way peg, which allows users to transfer bitcoins between blockchains, will work with bitcoin and Rootstock.

Blockstream, who is also working on developing sidechains for bitcoin, announced this week a defensive patent strategy. Blockstream’s commitments are meant to ensure that the company only uses its patents defensively, and therefore, to assure users and developers of bitcoin technology that they can use Blockstream’s inventions without fear of patent litigation, wrote the EFF.

In other development news this week, bitcoin payment processing company BitPay introduced a new BitPay Modal Invoice, which they aim to make paying with bitcoin even better. We also learned on Thursday from CoinDesk that bitcoin’s “nervous system” is getting an upgrade with the FIBRE Network.

Global FinTech

Image courtesy of Bitcoin.com
Image courtesy of Bitcoin.com

Bank of England: Digital Currency Can Raise GDP ‘By Almost 3%’

The Bank Of England (BoE) has stated a “central bank digital currency” (CBDC) could raise the UK’s GDP “by almost 3%.” In a lengthy new report published this week, the Bank studies the feasibility of introducing a CBDC, as well as the likely positive implications it would be have for the economy.

In India, one of the Reserve Bank of India’s deputy governors has encouraged local banks to work with a research outfit previously established by the central bank on blockchain projects, saying banks should work to develop applications for digital currencies and distributed ledgers.

Enjoyed this article? Leave a comment below and let us know. For more news like this, be sure to check out our archives!

Bitcoin News for the week of 7/11/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. Germany-based company Seafile made headlines this week after they dropped payment processor Paypal in favor of bitcoin. Price news also takes a front seat, as industry traders vigilantly monitor the market post-halving. We also learned this week that the University of Cantabria in Spain is opening a two-day event to teach about bitcoin and blockchain technology. Get all this news and more in our weekly Blockchain recap.

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Famous Bitcoin Transactions & The Stories Behind Them

Bitcoin has now been used by countless individuals to transact for over 7 years. At the time of this writing there have been over 140,000,000 transactions sent and stored forever in the blockchain.

January 2009 was when the very first block was added to the blockchain, which is affectionately dubbed the Genesis Block, and the rest as they say, is now history.

The history of bitcoin includes some amazing stories, some so interesting they are worth retelling to keep the story alive. This post serves to preserve a few memorable pieces of that history.

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Bitcoin News for the week of 7/04/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. The headlines over the past several days have been heavy with reports on this weekend’s Bitcoin halving, where the block rewards are cut in half as part of a fixed supply and predictable inflation schedule. In addition, we share some exciting news about bitcoin adoption in the nonprofit and trading sectors. Read all about this and more in our weekly Blockchain recap.

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New features for your Blockchain Wallet

In this post, we’ll be introducing two new features that we hope will make it easier for you to stay in the loop on the latest updates to our wallet, plus make it easier to manage and budget your funds.

The first is our What’s New section, where you can check in to see details on the latest wallet updates. Next up is the ability to export your transaction history as a CSV or XLS/X file. Both of these features may only play supporting roles in your overall wallet experience, but keep reading to find out why we think they’re worth mentioning.

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Counting down to the 2016 Bitcoin Halving

There’s been a growing buzz about Bitcoin halving over the past few weeks, and you’ll likely hear it referenced even more often as this upcoming weekend approaches!

In this post, we’ll explain exactly what Bitcoin halving is, why it’s important to know about, and we’ll also share some cool resources to help keep you in the loop. If you need to rewind and refresh your memory on some bitcoin basics before diving into this post, feel free to check out these introductory resources in our Support Center first.

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Bitcoin News for the week of 6/27/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. We’re proud to say that this week Blockchain was recognized as a Technology Pioneer by the World Economic Forum. Blockchain CEO Peter Smith also had the opportunity to sit down with major news outlets to shed some light on bitcoin and the post-Brexit scenario. There was also news this week about the Winklevoss ETF, and in China a new law was proposed to help protect user digital assets, including bitcoin. Read all this news and more, in our weekly recap.

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Breaking It Down: Bitcoin Units of Measurement

Today we want to spend some time explaining to beginners what the common units of bitcoin measurement are.

Just like a $1 bill can be broken down into 100 pennies, bitcoin (the currency) can also be broken down and divided into smaller units. Bitcoin’s ability to do this is crucial for user adoption, and for encouraging practical usage as an everyday currency alternative. This also makes it easier when buying bitcoin; depending on its value at the time, it may be more affordable to buy a fraction of the digital currency here and there instead of an entire bitcoin all at once. In fact, a lot of people think they have to buy a whole bitcoin to get started, but you can buy almost any amount you want!

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Welcome to the new Blockchain Support Center

Last week we quietly launched the new Blockchain Support Center! It’s been updated with an entirely new design and layout, plus new content ranging from beginner bitcoin questions, Blockchain product guides, and the most common questions we see from users.

Our goal with the new support center is to make it easier for everyone to get the right help, with the best answers, at any time.

How can we help you?

howcanwehelp

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Bitcoin News for the week of 6/20/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. This week we learned that the inventor of Skype has been studying ways in which blockchain technology can solve significant world issues. Also, Blockchain co-founder Nicolas Cary was featured as a guest author on the OECD Insights blog, where he wrote a significant article about finance in the digital age. We also had some ups and downs with the bitcoin price, which elaborate on below. Read about all this news and more, in our weekly recap.

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