Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. This week has had a few twists and turns in Bitcoinland. Making headlines is famous comedian Louis CK, who began accepting bitcoin for ticket sales. Credit card giant Visa stated that they will begin research into bitcoin and blockchain technology. And, we finally got to see the taped TEDx talk by Blockchain co-founder, Nicolas Cary. While there was an overflow of good news, there were also interesting headlines coming from New York as the BitLicense went into effect.
Nicolas Cary speaks at TEDxCanaryWharf covering an introduction to bitcoin, based on anecdotes from the 300,000+ miles he travelled last year, and bringing the future of money firmly into focus. He provides the audience with a non-technical overview of the concept, sharing real-world scenarios of how it’s addressing problems that traditional payment systems and networks simply cannot, including remittances, micro-transactions and more.
Comedian Louis CK has once again shown his entrepreneurial nous by becoming the first major comedian to accept bitcoin as a payment method. The news follows CK’s decision to bypass ticket outlets by innovating a direct-to-consumer model, as well as his pioneering of distributing content directly to fans via his website.
Visa, one of the leading global credit card processing firms, is planning to begin its research on bitcoin and blockchain, as stated in a latest report. Rajat Taneja, Visa executive vice president of technology, told LiveMint that the research will be conducted in the company’s innovation labs, which are dedicated on developing its Visa Checkout and mVisa products.
PwC has released findings that suggest not only is bitcoin here to stay, but its effects are unavoidable and will be disruptive to the existing financial system in a desirable way. In the 18-page PDF brief titled: “Money is no object: Understanding the evolving cryptocurrency market,” researcher Andrew Luca and his team do a thorough job explaining to the promise of the blockchain to PwC clients and go as far as making some forecasts for who will be using it and when.
The Internet has been an extremely powerful force when it comes to generating free access to information from all around the world, and it’s possible that bitcoin could do the same thing for digital commerce.
The technology underpinning the cryptocurrencies such as bitcoin, litecoin and others, is “one of the first truly disruptive ideas from the FinTech sector,” Deutsche Bank Research has said in an online post titled Blockchain – attack is probably the best form of defense.
In his latest appearance at the Texas Bitcoin Conference in Austin, Texas, Economist Robert Murphy attempted to debunk a few arguments that are generally made against bitcoin by various economists. Murphy comes from the Austrian school of economic thought, so it should be no surprise to find that he is at least somewhat interested in what bitcoin has to offer the world.
The Chamber of Digital Commerce (Chamber) will be working with the Digital Currency Council (DCC) in order to strengthen their advocacy of promoting bitcoin education. With this initiative, the groups can provide education and training opportunities to Chamber members as part of their membership benefits.
— Blockchain (@blockchain) August 13, 2015
Depending on whom you ask, within a few years we may all be using bitcoins to buy and sell, or some similar technology. Already in Charlotte a handful of businesses are starting to accept the online currency. To help explain it all, two bitcoin enthusiasts from the Raleigh-Durham area are coming to Charlotte Friday and Saturday to host their Second Annual Cryptolina Bitcoin Expo, an event that drew more than 300 people to its 2014 launch in Raleigh.
Klarna’s CEO of North American operations, Brian Billingsley, recently expressed his company’s intention to make it easier for smaller online merchants to compete in the global marketplace by using Bitcoin.
Introducing Bitcoin to the family is no easy task. The same goes for close friends and sometimes even your partner. The discussions can be daunting and sometimes fall to the wayside. Some even find their way into ridiculous theories of absurdity. Why is it so hard to explain bitcoin to others?
Exactly one year ago I embarked on a journey. I sat down to write my weekly column on bitcoin for the first time. At the time I was somewhat skeptical. As somebody with a background in the interbank foreign exchange market, my interest at the time was almost purely that of a trader. Over the last year, however, I have come to appreciate the bitcoin community, where there is undeniable passion at the extremes.
There are plenty of people who believe they can predict the future of bitcoin, but no one can really say for sure what will happen over the next five to 10 years. Some say that bitcoin will become the new reserve currency of the world, while others say issues involving scalability or regulation will eventually get in the way. Although no one can know what will happen, it’s still useful to analyze where bitcoin has been, where it is right now, and where it may go in the future.[The Most Impossible Thing in “MI: Rogue Nation”](https://fee.org/anythingpeaceful/detail/the-most-impossible-thing-in-mi-rogue-nation)
There’s a scene in “Mission Impossible: Rogue Nation” that seems entirely plausible. The bad guy is transferring a huge amount of money, something like $1 billion. He has a hand-held device and clicks the button. We see a progress bar. The operation takes only a few seconds and then there is a ding. Done! How much further are we going to get into the digital age before our monetary and payment systems catch up? This is why so many people are excited about bitcoin.
A white-hat hacker has released a new tool designed to illustrate the ease with which illicit actors can steal bitcoins from brainwallets, a type of bitcoin wallet iteration where passwords are not stored digitally – but in the memory of the user.
The exits were a strong reaction to the application requirements for a BitLicense. Last weekend the deadline to apply for a BitLicense came and went, and a slew of bitcoin startups went too—right out of New York State.
The chief of one of the biggest Chinese bitcoin exchanges has penned a journal seeking regulations for the digital currency sector. The article, written by Huobi’s CEO Leon Li, has arrived in the wake of growing regulatory uncertainties in the Chinese Bitcoin market, which — ironically and reportedly — hosts more than 80% of the world’s digital currency transactions already.