Blockchain Blog

Bitcoin News for the week of 11/17/14

This week in bitcoin we are proud to report that Blockchain contributed to NYU’s first bitcoin hackathon, which was an exciting event with amazing people innovating around the clock. Aside from our hackathon adventures, there was other big news in bitcoin that happened this week that should bring smiles to your faces. Continue reading below for all wonderful the details.

Blockchain API Challenge Winners BitRec, grab a photo with Blockchain President, Peter Smith, and developer, Kevin Houk

NYU’s First Bitcoin Hackathon

We love hackathons here at Blockchain, and we’ve sponsored three since the beginning of November. The Money20/20 Hackathon was the first, which preceded the Money20/20 Conference in Las Vegas. On Friday November 14th, we were a sponsor of Coin-orado, a hackathon organized by the University of Colorado Boulder’s Bitcoin Club. While not present at the event, we contributed a winning prize of three bitcoins, plus some virtual mentoring provided by Blockchain developer, Kevin Houk.

Bloomberg Bitcoin Conference: “Bitcoin Is Unstoppable”

At the recent Bloomberg-hosted conference, Peter Smith, President of Blockchain, explained on a panel called, “Bitcoin as Technology,” that the bitcoin industry needs more horsepower and that encouraging developers to get involved in bitcoin is going to be crucial for it to become a mainstream technology.

Bitcoin Might Be the Best Money Civilization Has Ever Seen

Gold has long been valued as a steady monetary unit. But in the future, Bitcoin will usurp its power. Ted Rogers, chief strategy officer at Xapo, explains its promise to Scott Minerd, chairman of investments and global chief investment officer at Guggenheim Partners, in this talk from the 2014 Nantucket Project.

5 Bitcoin and finance startups to watch from DEMO 2014

Finance innovations like Bitcoin are creating huge waves in tech communities around the world. These five Bitcoin and finance startups, launched at the DEMO conference in San Jose, California, are building on the innovations around the business of money.

Bitcoin Black Friday Is Coming

The largest day of the year for bitcoin purchases is rapidly approaching. Bitcoin Black Friday will be taking place on November 28th, and BitPay wants to make sure merchants are prepared and have their sales listed on Last year’s Bitcoin Black Friday event was the most popular day in the history of bitcoin commerce. We hope to see even more merchants join the bitcoin community for this year’s event.

Bitcoin Auction Winner Draper to Bid Again in December

Venture capitalist Tim Draper, the sole winner in a June auction of about 30,000 bitcoins, said he plans to bid again when the U.S. government sells an even bigger cache of the virtual currency next month, as part of the Silk Road confiscated bitcoin auction.

Finland Rules Bitcoin Services as VAT Exempt

The Finnish Central Board (CBT) of taxes declared that exchanges were providing “banking services.” The commission rates charged by exchanges were, therefore, in accordance with the EU VAT Directive, exempt from VAT (Value Added Tax).

Linked-In, Sun Microsystems Founders Lead Big Bet On Bitcoin Innovation

Billionaire entrepreneurs who helped lead LinkedIn Corp. Sun Microsystems Inc., Google Inc. and Yahoo Inc. are among a group of investors who’ve contributed $21 million to Blockstream, an unorthodox bitcoin project that has no clear plan for turning a profit. Their bet: that the project’s A-list of cryptography experts and bitcoin coders will unleash a new wave of Internet disruption that decentralizes the entire economy.

The Bitcoin Foundation: Everybody Pivots

Our members are signaling that it’s time to return to our roots and that is to focus on funding the ongoing core development to build out the critical infrastructure that serves as the foundation of this brand new digital ecosystem.

Bitcoin Payments To Go Corporate?

BNP Paribas analyst Johann Palychata has published an article arguing that Bitcoin and other cryptocurrencies could shake up traditional banking and financial services, Cash & Treasury Management File reported.

Interview with Bobby Lee, CEO of BTC China, on bitcoin

Bobby Lee is CEO of BTC China, which was founded in 2011. It is the country’s first and largest exchange for bitcoin – a decentralised virtual currency that has taken the financial world by storm.

“Why banks are paying attention to Bitcoin”

The virtual currency is likely to decentralize banking services, says Trond Arne Undheim, senior lecturer at MIT Sloan School of Management. Some banks are afraid of Bitcoin because it would force them to innovate.

Hoping to Spread the Trend, Bitcoin ATM Opens in Pioneer Place

Bitcoin has become so mainstream in Portland that there’s even a Bitcoin automated teller machine in the Pioneer Place Mall. The machine was installed and is one the first ATMs of its kind in Portland to allow people to convert their digital currency into U.S. dollars.