Blockchain Blog

Bitcoin News for the week of 11/23/15

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. Many were partaking in holiday shopping this year on the day after Thanksgiving using bitcoin for big discount deals on Bitcoin Black Friday, which was making rounds this week as we led up to the national shopping event. We continue to see bitcoin flourish in different ways, through adoption by merchants, financial institutions, and investors. We also posted an update on our new Receive Payments API, which you can get details for in the weekly bitcoin news rundown below.

Bitcoin Black Friday

![Bitcoin Black Friday image from bitcoinblackfriday.com](http://blog.blockchain.com/content/images/2015/11/bitcoin-black-friday.png)
Bitcoin Black Friday image from bitcoinblackfriday.com
[Bitcoin Black Friday: The Silver Lining for a Declining Trend?](https://news.bitcoin.com/bitcoin-black-friday-silver-lining-declining-trend/)

The traditional Black Friday may be the victim of consumer “shopping fatigue,” but the enthusiasm behind Bitcoin’s edgier counterpart shows no sign of abating. That’s according to the New York Times and John Holmquist, respectively. Holmquist was the organizer of the first Bitcoin Black Friday event back in 2012, and is the one-man show orchestrating this year’s symphony of participating major retailers.

Many retail merchants are participating in Bitcoin Black Friday this year, with an article from CoinDesk highlighting several places you can shop at such as Destinia, Bees Brothers, Namecheap, Gyft, and others. Additionally, bitcoinblackfriday.com which runs its annual Black Friday bitcoin deals boasts many retailers that participated in Black Friday this year.

Outside of Black Friday, other merchants are have begun accepting bitcoin directly such as fonQ.nl, a Netherlands contemporary online department store and Churrasqueira Bairra which is an all-you-can-eat Portuguese-style barbecue in New York. And for merchants looking for a processor that does “dollars to bitcoin” solution, BitReady is a new service that is launching that does this.

Banks and Bitcoin

![Image via businessinsider.com](http://blog.blockchain.com/content/images/2015/11/bitcoin-banks-1024x768.png)
Image via businessinsider.com
[Big Banks Are Hopping On Bitcoin’s Blockchain Bandwagon](http://www.nasdaq.com/article/big-banks-are-hopping-on-bitcoins-blockchain-bandwagon-cm546238)

Why are big banks fascinated by it [Bitcoin]? Just like banks and financial institutions, which maintain a record of all transactions in a central authority in order to certify ownership and clear transactions, Bitcoin has its blockchain. But the blockchain uses distributed ledger technology, which eliminates the need for any such central authority.

As global financial institutions become more interested in bitcoin and blockchain technology, some are beginning to invest and work with startups they believe will empower them with the tools to one day engage with the industry. Entrepreneur and finance guru Reggie Middleton said in an interview this week that “Bitcoin is the perfect FinTech platform, literally a hand-picked opportunity for somebody with my background and skill set. After reading the Bitcoin Wiki, particularly the section on smart contracts, my jaw simply dropped! I’ve been a convert ever since.”

Bitcoin Adoption

![Illustration via cointelegraph.com](http://blog.blockchain.com/content/images/2015/11/Bitcoin-Argentina-Mauricio-Macri.jpg)
Illustration via cointelegraph.com
[Argentina’s New President: Good News for Bitcoin, Bad News for Inflation](http://cointelegraph.com/news/115724/argentinas-new-president-good-news-for-bitcoin-bad-news-for-inflation)

Argentina’s new president, Mauricio Macri, is good news for the legal status of Bitcoin in the country. He is the one behind the sponsorship of the First Bitcoin Forum in Buenos Aires, earlier in July 2015. Macri hasn’t been the only one to embrace bitcoin over the years. Jeffrey Tucker went from bitcoin skeptic to evangelist, and talks about it in an interview this week with writer Amanda Johnson.

Kleiner Perkins recently invested in a bitcoin company, and in a post on their website they said “Blockchain technology is a fundamental breakthrough in computer science and powers cryptocurrencies such as bitcoin.”

Blockchain Payments API updates

Kyle Honeycutt made a new video tutorial and walkthrough using the updated Blockchain Payments API. You may recognize his name from of his previous tutorials we’ve highlighted in the past. The new version using extended public keys, no forwarding of payments needed, fast callbacks for website and database integration.

Last week we also posted an update with more details on the new Receive Payments API, which introduces a seamless and direct way for merchants to process customer transactions, and instantly receive payments. Do you have a code tutorial that uses the Blockchain API that you want to share with us? Let us know in the comments below!