It’s been another interesting week in bitcoin. The headlines never end and this week is no different. The good news out of that is that people are always talking about bitcoin; the media loves talking about it too. This is good for bitcoin. We also had a lot of fun at the Money20/20 Hackathon this past week. Read about that and more, in this week’s bitcoin news recap.
BitPredict captured a $20,000 grand prize; the application was developed by two students from Texas A&M.
Last weekend Blockchain took part in the Money20/20 Hackathon, which was a precursor to the Money20/20 conference, in Las Vegas. The Hackathon was a fierce competition between teams of developers. The goal? Develop an application using any of the participating companies’ APIs (that stands for application programming interface), within a 24-hour window.
Late Wednesday/early Thursday, depending where you are in the world, the spirit of generosity hit scores of Bitcoin users seemingly all at once, and handfuls of bits were getting tipped out left and right via ChangeTip.com. This started Tuesday, when a Reddit user proposed a Tipping Tuesday on the /r/Bitcoin subreddit.
One of the questions asked of Bill Nye: “What’s your opinion of Bitcoin and cryptocurrency in general? Do you think it can achieve widespread use, or is it just a fad?” Bill Nye responded: “If it’s not bitcoin, it’ll be something. The future of commerce is going to be all electronic. The gold standard was a fine idea, but electronic changes of funds and credits will be the future. Speaking for myself, I want bitcoin in my analog watch, somehow, someday soon.”
The government has launched a Call for Information on the benefits and risks of digital currencies, as part of moves to support the growth of Britain’s emerging FinTech sector and ensure customers can take advantage of the latest innovations when they make payments.
Following the launch of its new bitcoin ATM, visitors to Google’s ‘Campus London’ co-working space will now be able to buy bitcoin and spend the cryptocurrency on a coffee or muffin. Conveniently, the UK’s first BitAccess-made machine is located in the centre’s basement cafe, which uses an app developed at Campus called Wyre to accept bitcoin payments for refreshments.
Bitcoin Foundation Chief Scientist, Gavin Andresen, sat down with Lisa Fleisher at Web Summit 2014 to discuss the future of bitcoin, common misconceptions, and all things bitcoin.
Hailed as the first significant innovation to money since the credit card, bitcoin—a protocol for exchanging value over the Internet without an intermediary like a bank or a credit card company—is being championed by a small but growing, passionate base of users and advocates.
Bitwage sent out a press release announcing the launch of a beta for a new feature: individualized Bitcoin payroll services. The new feature and service they’re adding is called zero-click Bitcoin payrolls – it’s an automated way to instantly, near-frictionlessly, and effortlessly convert a set percentage of your direct deposit paycheck into Bitcoin.
Blockchain CEO Nic Cary, Circle CEO Jeremy Allaire and Coinbase’s Adam White discuss the Bitcoin wallet business and prospects for the digital currency. They speak with Erik Schatzker from the Money2020 conference in Las Vegas on “Market Makers.”
A big boost for bitcoin entrepreneurs is in the works. Boost VC, a technology accelerator in Silicon Valley, has closed $6.6 million in funding to invest in 200 companies over the next three years, with “a 50% focus on Bitcoin,” the company said in a statement.
Sir Richard Branson spoke extensively about Bitcoin recently in Australia. Branson is a known Bitcoin investor as a venture capitalist, and has spoken on behalf of Bitcoin before publicly. This time his commentary was via an op-ed piece for Bitcoin lobby group Australian Digital Currency Commerce Association, which is leading up to the G20 Summit next month.
The modern financial system has a fundamental problem: It’s not designed for the Internet. Even though money and transactions are becoming increasingly digitized, we keep using payments rails that were originally designed for paper checks. In some ways, the financial system is less than compatible with the online world people are shopping and transacting in.
PayPal chief compliance officer (CCO) Jean-Baptiste Graftieaux has revealed that he has left his current position at the global payments giant to join one of the largest bitcoin exchanges by USD trading volume, Bitstamp.