Blockchain Blog

Bitcoin News for the Week of 06/30/14

Another news filled week has passed in the world of Bitcoin. And it didn’t let down, with big news including a Jay-z concert tickets going on sale that you can purchase with bitcoins, and the winner of the US Marshals Bitcoin auction announced. Here are just a few of the top stories for the week of June 30, 2014. Enjoy!

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[Bitcoin Ads for Beyoncé, Jay-Z Concert Go Live This Week](

The Chicago Sun-Times is set to launch the first bitcoin-enabled QR code advertisements this week. The ads, which will first appear on 2nd July, allow readers to make direct purchases of tickets for an upcoming concert featuring famed hip-hop power couple Beyoncé and Jay-Z.

California governor signs bill legalizing Bitcoin

California Gov. Jerry Brown signed a bill that legalizes the use of Bitcoin and other digital currencies, reversing what backers called an outdated prohibition against use of alternative currencies. The bill, dubbed AB 129, ensures that various forms of alternative currencies such as digital currencies, coupons, and points are legal for use to purchase goods and services in the state. The new law repeals a provision in existing state law that prohibits anything but US currency being used for commerce.

Tim Draper Wins Gov’t Auction, Partners With Vaurum to Provide Bitcoin Liquidity in Emerging Markets

Tim Draper has won the US Marshals bitcoin auction and is partnering with Vaurum to provide bitcoin liquidity in emerging markets. Vaurum has launched trading platforms in emerging markets, and we will be partnering with Tim to leverage the pool of ~30,000+ bitcoins as a liquidity source.

Bitcoin Millionaire Announces the Winner of His $100k Bounty

A Bitcoin millionaire from Monaco who recently posted a bounty on Reddit for $100,000 for a proposal that could replace the Bitcoin Foundation has announced Mike Hearn’s Lighthouse initiative as the winner of $40,000, with a further $50,000 pledged to any developers who put significant work into the development of the protocol itself on the Lighthouse platform.

1-800-Flowers Uses Bitcoin as Payment Method

Leading floral retailer Inc. recently announced that it will start accepting bitcoin as a method of payment. 1-800-Flowers collaborated with Coinbase to process this new form of payment through their business.

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[Online Retail Giant Newegg Now Accepts Bitcoin](

Popular online computer hardware and software retail giant Newegg has announced it is now accepting bitcoin as a payment option – a move that had been widely anticipated by its customers. The Los Angeles-based company, which recorded $2.8bn in annual revenue in 2013, made the announcement today, saying it will use BitPay as the payment processor.

Russia Softens Stance on Bitcoin

Russia announced that it won’t crack down on the use bitcoin. Earlier, Russia had made ominous pledges to bring the hammer down on Bitcoin, which autocratic countries like Russia and China have viewed as potential underminers of their traditional currencies.

Bitcoin in 10 Years: 4 Predictions From SecondMarket’s Barry Silbert

Barry Silbert is beyond bullish about Bitcoin. The SecondMarket Holdings founder and CEO personally invests in 28 Bitcoin-based businesses through his Bitcoin Opportunity Corp. He also runs the Bitcoin Investment Trust. Where does he see Bitcoin a decade from now? Read a few of his predictions.

Winklevii Bitcoin ETF Comes One Step Closer to Reality

A recent filing with the SEC by none other than the Winklevii themselves, reveals some new developments in regards to the twins’ highly-anticipated and upcoming bitcoin exchange traded fund (ETF). The Winklevoss twins recently filed an amended Form S-1 with the Securities and Exchange Commission. While the form acted as nothing more than an update to keep the SEC informed, the filing has revealed what many have been wondering since they first heard of the ETF — the ticker symbol.

Merchant Highlights: GoldCoast Tickets, Tinypass, and Ecodirect

Congratulations to Coinbase for signing up three new merchants, GoldCoast Tickets, Tinypass, and Ecodirect, who will begin to accept bitcoins through their merchant platform.

Code as Law: How Bitcoin Could Decentralize the Courtroom

Remember hearing that bitcoin is the new internet? Well, while finance was the technology’s first battleground, it is slowly bleeding into other sectors—everything from airplanes to democratic voting, and possibly, the law itself. The bitcoin protocol, that strange decentralized creature, could make legal services more accessible, potentially revolutionizing the current justice system.

The MIT Bitcoin Project Round 1 Winners Are In
Results of Round 1 of the MIT BitComp were announced by organizers. For round 1, teams of 1-5 were asked to submit 250-word pitches of a bitcoin-related project, and three pitches were chosen to receive $250. 44 pitches were submitted, and the 3 winners were BitTax, Ethos, and sWallet.