Regulation was a hot topic this week in bitcoin, with the New York BitLicense plans being softened a bit, Australia chiming in on bitcoin exchanges, and Chinese officials saying that bitcoin can co-exist with other currencies. The big story though this week was Microsoft saying that they are now beginning to accept bitcoin as a method of payment, which is exciting! Get this news and more, in our weekly bitcoin recap below.
Microsoft payment options via of Microsoft.com
If you are a person who uses bitcoin you know it’s not always easy to find places where you can use the digital currency. That is about to change when it comes to Microsoft content. In the U.S., by using BitPay, the world’s leading bitcoin payment processor, you can trade-in bitcoin – at current market value — and add it to your Microsoft account. Those funds can then be used to purchase content in the Windows Store, or in stores that house Xbox Games, Xbox Music or Xbox Video.
New York state plans to soften proposed rules for virtual currencies such as bitcoin, its banking regulator said on Thursday, after receiving a round of public comments. Start-up companies dealing in the budding technology could get a two-year partial waiver from complying with the full set of rules to help them continue their business, New York Superintendent of Financial Services Ben Lawsky said.
The Australian Securities and Investment Commission (ASIC) released a report today outlining action taken when businesses deal with digital currency such as Bitcoin in response to a senate inquiry. In their report, ASIC does not require Bitcoin exchanges to maintain any license because the commission does not believe digital currencies fall under the same definition as national currencies.
A former vice-governor of China’s central bank, Wu Xiaoling, has said that digital currencies like bitcoin “could co-exist with fiat currencies”. Wu, who is currently a member of National People’s Congress Standing Committee and a vice-chairperson of the Financial and Economic Affairs Committee, made her remarks as keynote speaker at the Sanya International Financial Forum, a mainstream event featuring political and business leaders.
Bitcoin has survived skepticism, economic volatility and outright hostility from entrenched financial institutions since it was created by Satoshi Nakamoto in 2008. But now, it’s starting to seep into the global economy as more big brands are stepping out in support of the digital currency.
Ford Motor Company have released the 2015 version of their “Looking Further with Ford” publication which looks at future trends. Put together by Sheryl Connelly of Global Consumer Trends and Futuring at Ford, she cites Apple Pay, Google Wallet and Bitcoin as a trend for 2015 and beyond.
Bitcoin had a wild ride over the past two years, with prices driven by speculation, investment and government regulation, and investors should expect nothing less in 2015. Developments on three fronts have the potential to drive bitcoin higher in 2015: a better usage model, more companies using blockchain-based technology and increased usage for remittances.
At The Alligator Attraction in Madeira Beach, Florida, tourists can learn about koi fish, take photos with a tortoise, or feed huge alligators. But come Monday, visitors who stop by the attraction will be able to do something even stranger: They’ll be able to pay for those experiences using bitcoin.
Keeping tabs on the bitcoin market can be a task since the bitcoin landscape is in constant flux. To help bitcoin enthusiasts and data miners stay on top of things, we provide a variety of bitcoin charts for anyone who wants to see statistics, and probably those that love to crunch numbers too.
Canada-based bitcoin start-up YesToBitcoins is now allowing customers to pay their credit card bills with the popular digital currency instead of the standard currencies. YesToBitcoins.com was launched in June 2014 as a service to allow customers to purchase gift cards of some popular outlets with bitcoin.
The world of Bitcoin is coming to the 2015 Consumer Electronics Show, sponsored by a huge partnership between BitPay, Circle, Kraken, Bitmain, Blockchain, Bitstamp, Private Internet Access, Robocoin, and yBitcoin. The world of Bitcoin show will feature ten different brands that are shaping the Bitcoin and virtual currency industries.
Our profile this week features a company called Lawnmower.io, who is bridging the gap new users often encounter when it comes to purchasing their very first bitcoins, in a way that is passive and does not require spending large lump sums of fiat. Read on to find out how your extra change can transform into bitcoins in your wallet, with this exciting new service!