Bitcoin News for the week of 8/15/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. This week, an article co-written by Arthur Levitt Jr., former chairman of the Securities and Exchange Commission, and Blockchain CEO Peter Smith, challenges bitcoin critics and highlights why the bitcoin blockchain is disrupting payments. We also learned about the first bitcoin software release that will include Segregated Witness code, in an effort to eventually be able to scale transaction capacity. In market-related news, headlines demonstrate the bitcoin price has recovered since earlier this month, and in Japan, trading volume has seen tremendous growth over the past year. Get all this news and more, in our weekly recap.

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Meet our Interns: Summer 2016

For many, Labor Day is the sign of summer coming to an end. At Blockchain, we were hit with that reality last week when we said good said goodbye to (most of) our summer interns. These great young talents have, in the course of a couple of months, contributed to Blockchain and the bitcoin ecosystem as a whole in significant and extremely meaningful ways. Below, meet the folks who spent their summer helping us build. They could very well be the future of bitcoin.

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Bitcoin News for the week of 8/8/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. This week we saw news from The New York Times about how the World Economic Forum predicts that blockchain technology will eventually play a significant role in the global financial system. There are also a few bitcoin-related events coming up, like’s conference in London, plus we reported on the bitcoin price and how it’s rebounding despite the recent Bitfinex hack. Read about all this and more, in our weekly recap.

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Completing the migration to the latest version of the Blockchain Wallet

Five months ago, we released the third major version of our flagship product, the Blockchain Wallet. The update represented a big step forward for the product. Over the last few months, we’ve been collecting your feedback and shipping new and refined versions weekly.

As of August 16th, we’ll be completing the migration to the latest version of our wallet. The vast majority of ours users are now using the new platform, but, for the remaining legacy users, the upgrade completion will involve some change.

Change is hard, but it’s a lot easier if you know what to expect. Below is our guide to what’s in store.

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The Future of the Blockchain Wallet

At Blockchain, we have been passionate about building software that makes using bitcoin easy and secure for anyone. For over four years, we have run the most popular bitcoin website,, and perhaps the most utilized API in the industry. Still, most people know us for our bitcoin wallet.

Our bitcoin wallet rests on a simple technical premise: it is possible to build a hybrid bitcoin wallet that delivers all the ease of use and convenience associated with a normal e-wallet while simultaneously empowering users to maintain full control over their bitcoins. This is the foundation atop which we build. We firmly believe in our slogan – Be Your Own Bank.  

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Bitcoin News for the week of 8/1/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. This week Overstock CEO Patrick Byrne said there would be a ‘historic’ announcement which will impact the bitcoin space, and controversial entrepreneur Kim Dotcom teased his upcoming Megaupload version which will utilize bitcoin. In an unfortunate turn of events, major exchange Bitfinex was hacked and suffered significant losses. We also read how blockchain tech continues to influence financial institutions, and startups are receiving capital and expanding along with the growth and adoption of bitcoin worldwide. Read about this and more, in our weekly Blockchain recap.

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Bitcoin News for the week of 7/25/16

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. This week we take a look at the maturation of bitcoin, how it’s grown, and how it can be used as an asset class for investors. We also read that Visa is working with a bitcoin startup to facilitate micropayments. And on the bitcoin development front, we learned how developers are making the bitcoin network more efficient. Get all this news and more, in our weekly recap.

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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
Bitcoin price chart via

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
Rootstock home page via

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
Image courtesy of

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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