From the bungled Bitcoin Foundation elections to a brand new $30M investment in bitcoin processing, this week was one of extremes for the B-all of cryptocurrencies. Get caught up.
PYMNTS.com Bitcoin Price and Volatility index.
Follow 282 Cryptocurrencies here: http://coinmarketcap.com/ .
Bitcoin Tracker | Week 24
Just when you think the story line around bitcoin couldn’t get any stranger, there’s the Bitcoin Foundation Board elections. Maybe those who didn’t get elected shouldn’t feel so bad. Rather than a board, what bitcoin may need most of all is a BDFL (Benevolent Dictator for Life.) At least that’s what David Evans, economist and founder of Market Platform Dynamics, thinks and wrote about in the 3rd installment of his Digital Currency Deep Dive. Bitcoin prices rose slightly this week; to 445.83 after trading at 440.08 just a week ago on May 8th, according to the PYMNTS.com Bitcoin Price index but $30 million was invested in a new processing platform whose investors include Richard Branson. But the “newsteria” around bitcoin seems to be subsidizing. Could it be that world’s obsession with bitcoin is waning?
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On the Plus Side …
Well, now people using Bitcoin for illegal activities can at least used Bitcoin to buy a train ticket out of town to that stealthy hideout. The CEO of eBay said that he hasn’t ruled out integrating digital currencies with the company’s payment platform (PayPal) and BTCXIndia is now the first bitcoin exchange with real time trading. And, go West, young bitcoiners, go West, as miners move to Washington State where the cost of power is cheap and it is plentiful.
- May 15, 2014 – BitPay, leader in business solutions for Bitcoin digital currency,
announces a partnership to integrate bitcoin acceptance into VisualTouch,
Toshiba’s premiere POS Software Solution.
- May 15, 2014 – A Cumbria University PhD student has become the first in the world to pay for his tuition fees using the virtual currency Bitcoin.
- May 15, 2014 – Internet and tech entrepreneur Halsey Minor announced the launch of
Bitreserve, a bitcoin platform that addresses bitcoin volatility and provides real-time transparency, transaction traceability, and proof of solvency.
- May 15, 2014 – BTCXIndia is the first exchange with real time trading.
- May 15, 2014 – Dutch payment service Mollie now accepts Bitcoin.
- May 15, 2014 – John Donahoe, CEO of eBay, said he is actively considering an integration of digital currency with PayPal.
- May 14, 2014 – Bitcoin can now be used for travel, on CheapAir to buy Amtrak tickets and on hotel booking engine, GuestLeader.
- May 14, 2014 – Bitcoin miners are moving to rural towns in Washington State to be closer to dams and hydroelectric power.
- May 14, 2014 Asia’s richest man, Li Ka-shing, increased his investment in Bitcoin despite the currency crackdown in China.
- May 13, 2014 – BitPay, a bitcoin processor, announced a Series A funding round of $30M (€22M), led by Index Ventures, with participation from Horizons Ventures, Founders Fund, Felicis Ventures, RRE Ventures, TTV Capital, Sir Richard Branson,
and AME Cloud Ventures.
- May 13, 2014 – A second-hand shop in the UK, CeX, stopped accepting cash and accepted Bitcoin instead, to celebrate Scottish Independence.
- May 8, 2014 – The Winklevoss twins are closer to listing their Bitcoin fund on the Nasdaq stock exchange.
On the Dark Side …
A new virus that attacks Bitcoin miners was discovered in Norway at the same time that bitcoin consumers said they valued security over convenience. Talk about a dichotomy. The Bitcoin Foundation board continues to strike out with fielding a slate of leaders and there’s concern that the SEC’s warnings could stifle innovation related to cryptocurrencies.
- May 15, 2014 – A Bitcoin mining virus was found on Norway’s Facebook as an attachment in the form of a picture.
- May 15, 2014 – A report by the Bank of Canada (BoC) has warned that the widespread adoption of cryptocurrency Bitcoin could bring serious risks to the established financial system.
- May 14, 2014 – Bitcoin consumers opt for security over convenience since it’s never fun to see money just disappear.
- May 14, 2014 – Nearly 300 complaints were filed with the Federal Trade Commission (FTC) against the Bitcoin-miner makers at Butterfly Labs (BFL), according to documents Ars received from a Freedom of Information Act request.
- May 13, 2014 – The WSJ asks if the world is losing interest in Bitcoin as Bitcoin’s media sparkle fades.
- May 13, 2014 – The newly elected Bitcoin Foundation board is in turmoil with some pretty serious allegations against a newly elected member.
- David Evans says that bitcoin needs a benevolent dictator life in his latest Digital Currency Deep Dive since no other open source movement has ever succeeded without one.
- May 11, 2014 – HastFash’s CEO says that the Bitcoin miner manufacturer and his colleagues are as poor as church mice.
- May 9, 2014 – The SEC’s warning could stifle innovation related to Bitcoin.
- May 9, 2014 – Kids are using Bitcoin to buy fake ID’s online. We can’t say we’re surprised…
