Blockchain Blog

Bitcoin News for the Week of 05/26/2014

We can’t express how exciting Bitcoin is these days. As each week passes, being a part of this growing community and world changing experience is quite exciting. Each week, the news headlines seem to get better and better. We have some good ones this week, so buckle up and read some of the big news bites that have happened. Don’t forget, you can sign up for our weekly newsletter which gets delivered to your inbox every Saturday.

To the moon!

[![dish](https://blog.blockchain.com/content/images/2014/05/dish.png)](https://blog.blockchain.com/content/images/2014/05/dish.png)
Dish Network logo courtesy of Wikipedia.org
[DISH Gives Bitcoin A Boost](http://www.forbes.com/sites/michaelbobelian/2014/05/29/dish-gives-bitcoin-a-boost/)

DISH Network , the leading satellite television provider in the nation, announced that it will accept the digital currency Bitcoin. DISH’s moves helps Bitcoin by nudging it one step closer to mainstream acceptance. Alongside Overstock, which began to accept the digital currency earlier this year, DISH serves as the most well-known company now accepting Bitcoin.

Bitcoin tops $600 this week

Bitcoin prices rose above $600 on Friday for the first time since March. Bitcoin prices had been stuck in the $400s in May until pushing above $500 last week. Prices took a tumble in late March as concerns spread about a further crackdown against bitcoin in China. As of this writing, Bitcoin prices remain steady at $615.

Bitcoin Miner Manufacturer BitFury Raises $20 Million in Financing

Leading bitcoin mining hardware manufacturer BitFury announced on Friday that they have raised a whopping $20 million in financing, making it one of the largest investments in the bitcoin sector. Investors that participated in the funding round include Binary Financial, Crypto Currency Partners, Georgian Co-Investment Fund (GCF), Queensbridge Venture Partners and ZAD Investment Company.

This team wants to turn Bali into Bitcoin Island

Bitcoin Indonesia and Coin Of Sale, a Bitcoin point-of-sale system, are looking to turn Bali into a haven for Bitcoin users. More specifically, they’re looking to change the popular tourist destination into Bitcoin Island.

Africa leads the way with utilities now payable with Bitcoin

Invirohub, a smart meter developer owned by the Bidvest Group, has designed an integrated appliance to facilitate Bitcoin payments. According to local online magazine TechCentral.za, each meter will have a Bitcoin address associated with it, to which users then send a payment once the feature is enabled.

[![all4btc](https://blog.blockchain.com/content/images/2014/05/all4btc.png)](https://blog.blockchain.com/content/images/2014/05/all4btc.png)
Infographic courtesy of all4btc.com
[10 symptoms of having a partner obsessed with Bitcoin](http://about.all4btc.com/10-symptoms-obsessed-bitcoin/)

Here is a compiled list of 10 things that I’ve come to know as the 10 symptoms of Bitcoin-Obsessed people suffer from. If you have a partner equally fascinated by the “new, decentralized, open-source, global crypto-currency” – whatever that means – then you may understand my pain.

Two-Way Bitcoin ATM Hits Beijing’s Art District

It made it’s debut during a Bitcoin party at a Satoshi Square event at the 798 Art Zone – the city’s artistic district. It is being called the country’s first two-way bitcoin ATM. Produced by the Las Vegas-based Robocoin team, the 800-pound bitcoin ATM allows people to purchase bitcoin using the Chinese yuan, and also exchange bitcoin for yuan.

7 Things Every Misinformed Person Says About Bitcoin

More often than not, people with only a cursory knowledge of bitcoin tend to be grossly misinformed. To their credit, the technology underlying bitcoin is very complex. It’s no secret that as bitcoin enthusiasts, we acknowledge the need to more effectively educate the general public about this new digital currency so that we can debunk the myths that plague bitcoin’s reputation.

[![vangogh](https://blog.blockchain.com/content/images/2014/05/vangogh.png)](https://blog.blockchain.com/content/images/2014/05/vangogh.png)
Bitcoin Starry Night courtesy of spottedmarley.com
[Bitcoiny Night … Van Gogh’ing to the moon!](http://www.reddit.com/r/Bitcoin/comments/26v42k/bitcoiny_night_van_goghing_to_the_moon/)

A wonderful Bitcoin rendition of the famous Vincent Van Gogh painting, Starry Night. It’s very awesome. Special shout out ot Spotted Marley for making this.

Here are Two Charts Show How Different Bitcoin and Fiat Payments Really Are

Coindesk does us all a favor and breaks down the main differences between sending money using fiat and sending money using bitcoins. You can be the judge, but to us it’s pretty clear which the better option is. I’m pretty sure you can guess which one we think is better!

What is Bitcoin? It’s not what you think

Thought Bitcoin was a currency? Think again…Definitions are useful. They help us understand what we are talking about and by being specific and precise we can understand more about our actions and our behavior. So let’s look at Bitcoin and find out what Bitcoin really is.