Blockchain Blog

Bitcoin News for the week of 11/10/14

This week in bitcoin had quite a bit of good news, with a number of people saying, and singing, how awesome bitcoin is (which we already know!). The news this week included a price spike taking bitcoin over the $400 mark toward the end of the week. Overall, it was a good week. Here are the headlines. Enjoy.


Bitcoin St. Petersburg Bowl image via stpetersburgbowl.com

Trucoin Announced as the Official Bitcoin Bowl ATM Provider

Trucoin will be the official bitcoin ATM provider for this December’s Bitcoin St. Petersburg Bowl, bringing fans a fast and easy way to trade their dollars for bitcoin. Trucoin’s custom-built ATMs will provide fans a way to purchase bitcoin instantly using cash as well as credit and debit cards. These bitcoin ATMs will support the Bitcoin St. Petersburg Bowl’s temporary digital currency economy.

Bitcoin: The Most Important Innovation in the History of Money

I believe that Bitcoin is the most important technological breakthrough in the history of money. For more than 5,000 years our system of money has required a middleman – a trusted third party that verifies ownership and transfers value. From the Temples of Babylonia to Giovanni Medici to James Pierpont Morgan, banking dynasties have been built by serving as the middleman.

How digital currency could transform the world

The world’s first Bitcoin forum, The Global Digital Currency Conversation Forum, is set to take place in Brisbane this week. It coincides with the G20 Summit Forum on Digital Currency and a Senate Inquiry into Bitcoin regulation. Bitcoin is making considerable waves in the finance sector.

Bank of Canada Ponders Bitcoin Benefits Amidst Mounting Popularity

Bitcoin continues to catch fire in Canada, with the Bank of Canada (BoC) mulling the potential benefits of utilizing digital currencies, namely Bitcoin. Canada has had a unique relationship with cryptocurrencies, notably Bitcoin. According to Canadian tax laws, salaries received in Bitcoin are viewed as barter income and are taxed based on the equivalent in Canadian dollars, which has led to a trend of employees receiving their salaries in Bitcoin.

Payments Giant NCR to Integrate Bitcoin into Small Business Service

Global payments conglomerate NCR has announced that one of its merchant point-of-sale (POS) systems will soon offer bitcoin support. The integration of bitcoin into the NCR Silver POS is expected to happen sometime before the end of this year. The system will also support mobile bitcoin wallet payments and will be a free service attached to its POS platform.

RAOUL PAL: Bitcoin Is Worth $1,000,000

“I did some analysis a while ago,” Raoul Pal said. “[It] was to try and create a valuation framework that gives some value to bitcoin because nobody really knows that it’s worth.” Pal, a former global macro fund manager and current author of the Global Macro Investor newsletter, is talking about the digital cryptocurrency that saw its value surge north of $1,200 a year ago.

Meet the Team: Interview with Blockchain Developer, Tim Lee

The Blockchain team is a dynamic group of individuals. While bitcoin is a passion we all share, we also have our own unique interests and hobbies. This Meet the Team series will be a monthly segment where we give you the opportunity to get to know our team members a little better. Find out how each of us discovered bitcoin, our goals, plus we’ll reveal some surprises along the way.

Women in Bitcoin: Part II

There are much more women in Bitcoin, who are willing to embrace and promote the technological challenge, than you would expect. Recently, we’ve published a list of well-known women in Bitcoin on Bitpost. After all your comments we’ve decided to continue revealing names of Bitcoin ladies in this male-dominated technological industry of crypto.

VISA CEO Confirms Tokens As New Network Revenue Stream

Visa CEO Charles Scharf said that not only is tokenization “the single biggest change that’s been made in the payment networks easily over the past 15 or 20 years and maybe longer,” but he spoke about how it enables Visa to control the data and to potentially charge a lot more for it. Scharf also touched on whether Visa is likely to embrace Bitcoins.

HP Survey: 79% of US Organizations Plan to Adopt Digital Currencies

Digital currencies now feature in the long-term strategies of US businesses, according to a new study of electronic payment trends. The Ponemon Institute report, commissioned by tech giant HP, found that 79% of respondents planned to support digital currencies like bitcoin in the future.

All About That Bitcoin – by Naomi van der Velde

Musician Naomi van der Velde covers the popular song All about the bass by Meghan Trainor, with a delightful twist; making the song all about those bitcoins.

Bitcoin Foundation Chairman Says “Samsung Will Be Biggest Beneficiary of the Bitcoin Market”

At a press conference in Daejeon, South Korea, Bitcoin Foundation chairman Peter Vessenes alluded to his speculation that Samsung will eventually benefit from bitcoin mining as the general bitcoin infrastructure grows.

Man embeds computer chips in hands to store Bitcoin

By implanting 12mm glass computer chips in his flesh Martijn Wismeijer has been able to store Bitcoins inside his body, create a personalized alarm clock and will even be able to install keyless doors in his home. But how painful is the injection?

Quick Bit: Boost your password security in one easy step

Wallet security is so important for anyone new to bitcoin to learn about, because enabling these settings will mean that you can feel confident knowing you are taking all preventative measures to protect your funds from theft. Today, let’s talk about PBKDF2 Iterations.

Bitcoin 101: Why It’s Attracting Wall Street Investment

Despite its infancy, Bitcoins are being called one of the greatest developments of the new financial services landscape. Here’s why.

Why you’ll finally be using bitcoin soon

Bitcoin has come a long way, from a mysterious and controversial crypto-currency to a widely known medium of exchange. Although faced with occasional challenges (such as the MtGox bitcoin heist, Silk Road incident or China’s regulatory stance), the bitcoin community remains unshaken, showing a surprising amount of resilience and trust in the digital currency.

Coin-orado, Hosted by the Bitcoin Club at the University of Colorado Boulder

Blockchain is proud to be a sponsor of Coin-orado! This first annual Colorado Bitcoin hackathon is happening this weekend at Spark Boulder. Developers can join forces in teams of up to 5 members, to create their own application or build upon an existing company’s API.  The competition includes not only the development, but also a marketing and finance portion, where teams explain the strategies they will use to bring their ideas to life.