1.Second Market Hosts Bitcoin Talk for Professional Women’s Network

Last night about 80 New York women of varied experience with the bitcoin industry met at SecondMarket’s headquarters for what was effectively the largest women’s bitcoin meetup, at least in the US city.Most of them work in the banking and financial services industries, and a fair few were executives and compliance directors quietly representing industry heavyweights. However, they were all assembled there by Ellevate, the members-only global women’s network dedicated to investing in women’s success and led by Sallie Krawcheck.Krawcheck, often called one of the most powerful women on Wall Street, is the former head of banking giants Citigroup and Bank of America and one of the most influential industry voices. She moderated a panel, called ‘Bitcoin: The Future of Money’.

The discussion included host, SecondMarket founder and Bitcoin Investment Trust creator Barry Silbert; BitPay vice president of sales and co-founder of Women in Bitcoin Paige Freeman; founder of public policy consulting firm dcIQ and former VP of public policy at Silicon Valley Bank Mary Dent; and Deloitte strategy and operations senior consultant Tiffany Wan.

The attendees came to learn about the basics of the digital currency. “What the heck is a bitcoin and why should I care?” as Krawcheck began the conversation. But the panelists, it seemed, tried to inspire them to forget bitcoin’s price, volatility and bad press for an hour and think instead about its fundamental attributes and what the global economy could do with it beyond today.

“There are lots of reasons for governments to be very fearful about bitcoin […] what I don’t think we’ve unlocked yet is a vision for why this could be transformative,” Dent said.

“What could a global financial services platform do for the world economy, particularly for the developing economies? What could it do for the consumers that are locked out of the existing financial services system?”

Learning initiative

While the panelists were bitcoin believers across, more outstanding were the audience members – not merely because they were all women, but because so many of them represented an industry whose attitude toward bitcoin has been largely sardonic if not hostile.

It’s true that involvement in bitcoin and technology is male dominated – which also remains true for the banking and finance sectors despite gender gap improvements over the last decade.

But, while the guests who had previously attended New York bitcoin meetups, or do regularly, were delighted to be in a room filled with women curious about bitcoin, more impressive was watching and speaking with the bankers, financiers and their advisors – and even an employee of the Federal Reserve Bank of New York – who realized the importance of the subject in general and in their careers and decidedly motivated each other to take the first step in educating themselves about it.

Bitcoin can be for everyone

By a show of hands the room seemed split evenly into bitcoin ‘skeptics’ and bitcoin ‘believers’.

Silbert told them that it took him six or seven months of being a skeptic before he became a believer. Though its value is different for each user, he told the audience that it doesn’t have to take over the financial system; it can live alongside the existing currencies.

“I’m not a big believer in bitcoin becoming the global currency,” he said. “But I do believe it can live in everyone’s wallets, in everyone’s portfolio.”

Silbert’s portfolio includes roughly 30 bitcoin-related companies and many of the most well performing ones in the ecosystem. For all his success and bitcoin’s potential to “radically transform our entire financial system”, he stressed for the room’s investors that it’s still early in the game.

“We’re talking trillions of dollar type industries that if bitcoin is really successful will probably be one of the most successful investments you ever make. But, the outcome is likely binary. You are either going to lose all your money – in fact you will probably lose all of your money, it’s still very early. But if you don’t, and if it is successful…”

Value is subjective

At the outset, Krawcheck asked the panel: what is a bitcoin, and why should we care? And “what’s wrong with the dollar”, the euro or the yen? Why do we have to have this?

Silbert spoke about the subjective value that money holds for people across the world. He commented that for people living outside the US, the eurozone and Japan in countries with massive inflation like Argentina, Venezuela and Thailand, access to the US dollar isn’t as easy.

He remarked:

“We have a very US-centric view of money, currency. The dollar is great, we all like it, we all want a lot of them. The reality is in the course of history […] a fiat currency will disappear in 27 years on average. So, if you live outside the US […] the currency you use in your daily life will likely go away in 27 years.”

Responding to the same question, Dent spoke about the Internet of value, observing that no one needs to understand cryptography and the inner workings of mining bitcoin in order to use it and appreciate it.

“How many people understand the protocol that lets you email or lets you surf the web,” she asked. “You don’t, but you do all those things and I think that this is what an Internet of value is.”

She continued:

“Today we have the Internet of communications and commerce, there’s a lot of talk about the Internet of things, and I think this could be a third Internet: the Internet of value – how you move value as frictionlessly today as we move communications in a way that is as unimaginable to us today as the Internet itself was 20 or 30 years ago.”

Source http://www.coindesk.com

2.Report: Mobile Industry Should Embrace Bitcoin or Get Left Behind

Mobile operators need to prepare for the shift to digital currencies if they want to remain competitive. That is the takeaway from a report published by European consultancy firm Reply, which also urges the mobile industry to avoid past mistakes.

The report, titled ‘Embracing Bitcoin: Why Mobile Operators Should Prepare for the Digital Currency Shift’, examines the benefits and pitfalls associated with digital currencies, and makes the case that this rapidly advancing technology is already hitting the mainstream in some respects:

“It is now benefiting from a surge of interest, investment and acceptance, with CA$300m being invested in Bitcoin-related start-ups and high-profile names such as Richard Branson and the Winklevoss twins championing the digital currency movement, and more and more online and physical stores accepting the currency via services such as Bitpay, a service analogous to Paypal.˝

Reply is a large company specialised in consulting, systems integration and digital services. It currently has more than 4,200 employees and annual revenue north of €500m.

Ideally positioned for digital currencies

The report notes that mobile operators are in “an ideal position” to embrace digital currencies due to a number of factors:

• Smartphone penetration is high and smartphones can be used as mobile bitcoin wallets
• Smartphones are already connected to the Internet, easing deployment
• Customers have a certain level of trust with their mobile operators, which could be used to encourage greater acceptance
• Mobile operators have already successfully deployed mobile banking systems in Africa, namely in Kenya and Tanzania, with Paym cited as an example.

Reply said that, as a result, numerous products and services could be offered with relative ease.

These include mobile wallets and currency conversion services. Mobile operators already deal with monthly contracts and tend to hold customers’ bank account details, which means they have a large user base and the necessary infrastructure to deploy digital currency services. Mobile operators could also use block-chain technology for contract signing or for proof of ownership.

Innovative third-person signing and parental services could be introduced as an offshoot. Many jurisdictions, including Britain, do not allow person under the age of 18 to own a credit card. Using mobile wallets, controlled or co-signed by the minors’ legal guardian, could bring practical and time-saving services to young people worldwide.

Mobile operators are uniquely positioned to offer offline payment systems based on bitcoin too, says the report.

This could be achieved in a number of ways, by effecting the transaction phone-to-phone, even when there is no Internet connection available. Connectivity could be accomplished through NFC, Bluetooth or personal Wi-Fi hotspots. The phones would sync back to the block chain once connectivity is restored. However, Reply says this scenario requires further research and testing before it could become a reality.The report does not mention emerging mobile technologies, including wearable devices and Bluetooth-based beacons such as iBeacon and Gimbal, which are widely considered to have long-term implications for the payments industry.

Choice of revenue models

Reply says mobile operators could benefit from three different revenue models should they choose to embrace digital currencies.Operators could use a commission-based approach, taking a small cut from some transactions. Monthly fees are another possibility, as they would offer a flat rate with no nasty surprises. Or operators could use the ‘one-off approach’, charging for features and transactions on a case-to-case basis. 

Mobile operators already have decades of experience in offering a wide variety of mobile plans, meaning each one of these options is well within their reach. The fact that they already send out monthly bills to post-paid subscribers is another obvious advantage.

Reply explains why telecom firms could have the upper hand:

“Competitors to the mobile operators will include third-party app developers and web-based bitcoin services, and a number of wallets already exist. However mobile operators potentially have the ability to provide services over and above what can be done on a single app via their network infrastructure and datacentre facilities already accessed by the mobile phone, and they already have a close relationship with their customers (in terms of bank account details for monthly contract customers, etc.) which could provide another differentiator.”

Reply also sees banks and services like Paym as potential competitors to its target audience.

First-mover advantage

In its conclusion, the report gives an ominous warning not to lag too far behind the curve:

“However as with many examples in the past (as has been seen with technologies such as WhatsApp/Skype/BBM/iMessage which left the operators flat-footed), if the mobile operators do not take advantage of this shift now, then third parties will do so, and the opportunity for the operators will be reduced by losing the ‘first mover’ advantage.”

The overall conclusion is positive, however, pointing out that the digital currency industry is still in its infancy, and that there is a lot of potential for companies in the telecoms space to capitalise.

“Mobile operators are in a strong position to benefit from this shift, with a large customer base owning smartphones capable of using digital currencies, the network and datacentre infrastructure to implement scalable services, and a trusted brand to encourage the slower adopters,” Reply says.

While, some mobile virtual network operators (MVNOs) like Mobile Vikings have already embraced bitcoin, the majority seem happy to take a wait-and-see approach. If Reply is correct in its conclusions, though, that could be mean the mobile industry losing out in the long term to early adopters in other sectors.

Source http://www.coindesk.com

3.Australian Lawyers, Bitcoin Groups Call for Clarity on Regulation

Lawyers and bitcoin groups in Australia are joining those in other countries in calling for greater clarity on bitcoin regulation, allowing clearer direction for both businesses and consumers on how to conduct their affairs in a digital currency economy.Bitcoin now backs a business ecosystem into which hundreds of millions of investment dollars are pouring. No longer just a hobby for programmers and political activists, the fledgling industry is in need of more established structures to support those investments.There is a growing argument for such structures: lawyers in Poland this week called for more consumer protection surrounding bitcoin, saying a lack of regulation denied users the rights available to those using more traditional payment methods. Furthermore, the industry is currently debating the pros and cons of New York’s just-released ‘BitLicenses’ structure for compliance.

Then there’s the continuing problem of existing banks and others in the finance industry refusing to work with bitcoin-accepting businesses, unilaterally closing accounts or publicly denying agreements.

Advocacy group meets with officials

Ronald Tucker, chairman delegate of the new business-oriented Australian Digital Currency Commerce Association (ADCCA) and CEO of exchange Bit Trade Australia, last week held an awareness-raising seminar in the capital Canberra with bitcoin business representatives and government stakeholders.These included officials from the Australian Taxation Office (ATO), the Australian Securities and Investments Commission (ASIC), Treasury, the Reserve Bank of Australia, plus a number of other government departments and law enforcement bodies.

Tucker told CoinDesk:

“We believe an effective regulatory framework promotes innovation and protects consumers.”

He said the meeting was well received, despite some obvious concerns, that officials knew what was at stake with the new technology and were taking it quite seriously, adding:

“This is a truly accessible global marketplace that’s developing here. The best thing to do is to work with other industry bodies around the world to help inform and educate and make sure we’re doing things in everybody’s best interests.”

The proposal ADCCA pitched was that the industry self-regulate, with government providing a liaison to assist it in doing so. That would help create a robust financial services framework around the digital economy.Australia already had a world leading financial services legislative framework in place, he added, and could really establish itself as a leader in the digital space.

Tucker said ADCCA was watching developments in Japan, where the government has been instrumental in forming the self-regulatory body Japan Association of Digital Asset (JADA). There also have been positive moves in the UK, US and Singapore.

Call for clear, sensible policy

Amor Sexton of Adroit Lawyers in Sydney is Australia’s first ‘digital currency lawyer’. In addition to providing advice to bitcoin businesses, she has been actively involved in liaising with the government and the regulators on behalf of the industry.Together with fellow lawyer Reuben Bramanathan of McCullough Robertson, she researched and authored a white paper in June on bitcoin taxation recommendations for the Bitcoin Association of Australia (BAA). 

Sexton said a level of regulation is necessary to foster trust from consumers and other market players, to increase adoption of bitcoin. Warnings from organizations like the European Banking Authority mainly concerned consumer protections and preventing money laundering – risks Sexton said could be largely mitigated by regulating businesses that interact with consumers.

She told CoinDesk:

“There is a definite need for the various sections of government to provide guidance on the regulatory framework that applies to digital currencies in Australia. However, what is more important is that the guidance they provide is appropriate and well considered.”

Not too fast

Balance is the key, Sexton said. Regulation needs to mitigate risks without creating a compliance burden that stifles innovation, and the government must consider the benefits of a robust digital currency industry.The benefits to places like Australia would be increased innovation, competition, and efficiency in the financial services sector. For an isolated country like Australia, bitcoin’s lower fees would also open new world markets to small and medium sized businesses.

She added that even though there was a need for more clarity on the issue, governments should still take the time to familiarize themselves with the technology first, understand its uses and consider wider policy implications.

“The more consideration that goes into these issues, the more thought goes into achieving that important balance between regulation and innovation.”

Sexton is one lawyer leading the way in providing advice to companies regarding digital currency use and assisting the government in formulating policy. She has also organized a ‘Bitcoin for Accountants’ seminar in Sydney to familiarize accountants with bitcoin transactions and some of the surrounding accounting issues.

Need for bank support

Bramanathan also stressed the need for patience, urging a “sensible approach”. This would allow banks and financial institutions to support bitcoin, he said, which would be a “huge step for bitcoin businesses and users”.He also told CoinDesk there should be an opportunity for self-regulation, agreeing with ADCCA’s Tucker. 

Australia’s two key bitcoin organizations are the BAA (affiliated with the Bitcoin Foundation) and ADCCA, which is also open to non-bitcoin businesses in the existing financial sector. Like ADCCA, the Association is in ongoing consultation with government departments and regulatory bodies.

Bramanathan is an expert on digital currency and tax. He has also published an article about Australian superannuation (private retirement funds) and bitcoin, and other articles arguing why bitcoin should be legally defined as money under tax law.

 Source http://www.coindesk.com

4.Bitcoin Industry Leaders Sound Off on New York BitLicense Proposal

The release of the New York Department of Financial Services’ (NYDFS) proposed regulatory framework for bitcoin companies operating in New York has brought mixed reaction within the digital currency industry.With varying viewpoints dominating Twitter and reddit throughout the day, CoinDesk reached out to a number of bitcoin and digital currency leaders to get their perspective on the proposed regulations. 

Throughout the discussions, pillar topics regarding the proposal emerged, largely centering around the document’s clarity, its potential effect on other US states and the question of exactly what the proposed BitLicense means for an industry in the midst of a surge in innovative development.

While largely positive, reactions differed as to the full ramifications the proposed rules would have if put into effect, with lawyers, investors and startups all weighing in on the day’s biggest story.

Proposal provides clarity

Many in the cryptocurrency industry are applauding NYDFS Superintendent Ben Lawsky for taking on what is broadly considered to be a difficult subject. Business leaders, in particular, largely agreed regulatory clarity is something they have been seeking, and a burden they have been prepared to shoulder.

Charles Cascarilla, CEO of bitcoin exchange itBit, told CoinDesk:

“The guidelines we saw today were no real surprise to us. We expect to achieve full compliance as the necessary requirements are largely in place due to our careful attention to consumer protection.”

Cascarilla said that itBit already verifies account holders and has a compliance officer, as well as a cybersecurity program. Further, he acknowledged that established rules are needed to ensure a functioning business ecosystem:

“[These] guidelines are actually helpful as they outline exactly what needs to be implemented by a bitcoin company to operate.”

For some observers, there’s something deeper about the nature of the new regulations: the fact that bitcoin is achieving greater recognition in the eyes of the law. James P. Jalil, chair of the cybercurrency practice at law firm Thompson Hine, said the BitLicense proposal represents a major step for bitcoin’s legitimacy.

“The [framework addresses] safeguarding client funds, anti-money laundering, books and records, compliance requirements and procedures,” said Jalil. “These things are very common in the regulation of the banking and financial services industries.”

Jaron Lukasiewicz, CEO of bitcoin trading exchange Coinsetter, agreed that the existence of a digital currency business licensure is a positive step overall:

“As a New York City-based company, the BitLicense is an important asset that will allow us to provide US banking and regulatory protection to our target customer group. I’m happy to see the New York DFS making tangible progress towards offering the first achievable regulatory bitcoin license in the country.”

Evan Greebel, an attorney working with Cameron and Tyler Winklevoss on their bitcoin-related ventures, remarked that one distinctive clarification that emerged today was the focus on keeping consumers safe. Rules on advertising, terms of service and customer asset management represent a push for legitimacy on the part of businesses themselves.

He noted:

“DFS has designed the BitLicense with an intent to protect US consumers by ensuring that only reputable businesses are participating in the identified parts of the bitcoin ecosystem.”

Concerns about innovation

One of the questions that remains to be answered is whether or not the rules – and future ones that may mirror the agency’s proposals – will hold back innovation in the bitcoin sector.

Some observers reacted to the NYDFS proposals by saying they will dampen innovation in the state’s bitcoin space. Others argued that the clarity provided actually makes New York a more fertile ground for digital currency businesses.

ItBit’s Cascarilla noted that in the realm of problem-solving, knowing which rules to play by can actually assist innovators as they develop new ideas. He said:

“It may mean the industry has to in fact get more innovative in finding solutions to how we work within these guidelines, but overall it’s a step in the right direction to building a compliant and trustworthy Bitcoin ecosystem for the general consumer.”

BitPay chief compliance office Tim Byun pointed specifically to a few issues he had with the framework. This included the reporting of purchases over $10,000 completed in a single day, which he said could be problematic as “purchases via credit or debit cards over $10,000 are not reported”.

Byun said that the BitLicense proposal needs to have a bit more appetite for risk-taking since many companies in the virtual currency space are, at heart, entrepreneurial firms:

“The framework may benefit from a more risk based program or establishing nominal thresholds that would enable innovation while ensuring controls or transparency to protect consumers.”

Global competition questioned

There is some concern that because of the possible regulatory rules in New York, cryptocurrency development could simply leave the US for friendly jurisdictions, driving the industry to places with less friction.Gil Luria, partner at Wedbush Securities who has written extensively on the topic of bitcoin for his firm, believes that in creating a framework the NYDFS is building a blueprint that other US states will end up using. 

“I wouldn’t be surprised if other states were to adopt a similar standard, a similar framework,” he said.

Greebel, the legal counsel for the Winklevoss twins, commented that it would be ideal if other states were to adopt the same principles of the proposed BitLicense:

“From a standpoint of providing legal and regulatory advice to bitcoin businesses, it would be easiest if other states adopted the New York BitLicense to create a uniform regulatory environment.” 

However, not everyone sees future regulation making things easier. Others agree the issue of state regulation in particular could influence bitcoin firms to move elsewhere.

“In the US, state-to-state reciprocity is an open issue. Will other states compete with New York, or will they adopt NYDFS guidelines largely as-is?” bitcoin core developer Jeff Garzik questioned.

Garzik added:

“Bitcoin businesses must deal with 51x legal jurisdictions, with associated licensing and surety bond costs. Today’s regulatory model is what I call the ’51x cost’ model, which remains a killer for small business and jobs.”

Some say the regulations may keep businesses out of the country entirely. This includes digital currency exchanges, which don’t have a large domestic presence in the US and may be enticed not to open their doors owing to the regulatory environment.

As noted by financial journalist and pundit Max Keiser:

Still, Luria believes the idea that exchanges won’t want to operate in the US could change in the near future should the BitLicense proposal come into effect. That might help build a strong bitcoin economy in the US, and help to make it a leader in the industry over the long haul.

Luria said:

“If you look at the exchanges, the reason we don’t have a robust US-based exchange is just because an exchange can’t really operate in the US without broadly violating money transfer rules. So having an avenue and an outlet for bitcoin exchanges and wallet services will encourage more and more companies to participate.”

 Source http://www.coindesk.com

4.North American Bitcoin Conference – Chicago LIVE

The North American Bitcoin Conference (TNABC) is excited to announce that our kick off party will be held at Chicago’s famous House of Blues, the home of music, comedy and performance, on July 18th, 2014 !To kick off TNABC with a bang we will present a special screening of The Rise and Rise of Bitcoin, the stunning documentary by Nicholas Mross about the creation and popularization of Bitcoin. The documentary takes an inside look at the competitive mining market and the various subcultures within the Bitcoin community. In the film you will encounter a variety of characters and opinions as the director examines the social and political impact of an open-source digital currency.

Source  http://thebitcoinnews.co.uk

5.The Bitcoin Skynet DAEmon, Part 3 ANGels & DAEmons

The word “daemon” comes from Greek mythology.  It was used to describe both good and evil nature spirits.  For hundreds of years, western civilization has used the word demon to describe purely malevolent beings.  You may notice that I use the word DAEmon in the classical sense of neutrality.   For general society, this term may not work because of the history of the word.

I propose Autonomous Network Guardian (ANGel) as the counterpart.  These could fulfill the same roles that have been mentioned, and/or have the specific purpose of combating DAEmons.  Unfortunately from a user’s perspective it would be nearly impossible to tell them apart.  It’s rare for someone with malicious intent to come right out and give their motives.  The most successful DAEmons would quickly learn, or initially be programmed to act just like an ANGel.

ANGels could created to keep track of, and give ratings to other DAEmons.  They could check code for known manipulative patterns, and notify servers when there is any sort of violation of trust.

This is not to say that every server would shut down a DAEmon acting like a virus.  There will be many that value the monthly paycheck more.  Laws may be created, though they could be difficult to enforce as you would have to methodically shut down the physical hosting sites as they are found to be in conflict, and many jurisdictions take advantage of these types of situations by making their laws intentionally lax.

Imagine a war of autonomous AI spanning networks around the globe.  It’s hard to imagine that nation states wouldn’t find a way to use them for their own purposes.  Data infiltration through open networks, spybots that can inject their AI into closed systems, and armed drones come to mind.

Bitcoin’s role

Bitcoin changes the equation by allowing the programs to be on their own.

Couldn’t someone just give them a bank account and let them go wild? 

This happens in some situations, but there is still a person in the middle.  With their identity at stake the reigns are held tightly.  This will be the value of bitcoin for AI’s in the real world.  They can have their own supply of money, and be given a chance to fail.  Without failure there is no success.

Currently, the narrow AI’s that are being programmed are in sterile environments.  They follow a simple lists of commands for their end results.  To be effective in they ways mentioned here they would need to have strong functions that measures the probability that an action is correct.  If a then b is a start, but it doesn’t allow for the malleability needed for growth.

Sure, even with a software agent there may be a revenue stream back to the original programmer, or group.  Still, though, being out on their own in an uncontrolled environment will give a chance to lay the foundation for what an AI will need to survive in the real world.

A computer program won’t have fear or greed.  There is no reason for them to have any intention at all that we don’t give them.This is a common answer to the concept of “evil computer overlords.”  Call it what you will.  Remember, though, to survive on their own software agents will need to have some sort of self interest.All emotions come to us as a survival mechanism especially fear and greed.  Most actions can be understood as methods of our genetic material trying to survive long enough to reproduce itself.  The basis of survival for an AI may be slightly different.  Inevitably, though, a system that does not evolve to meet it’s environment will perish.  This natural selection will make room for others that do.

In the future, people and AI’s will be in competition for resources.  Stealing each others wallets and data, shutting down servers, and inserting viruses are already common. If an AI can’t protect itself, they will die off and be replaced by more efficient variants.  These will quickly learn what dangers exist, and find ways to preempt trouble.  Thinking of the future this way looks a lot like imagination, and would lead to behavior that would resemble emotion.

For any effective entity it is necessary to perceive a reasonable incentive before taking action.  Do beings always act in their best interest?  Definitely not.  It is possible to have great perception of an event, but take the wrong action because of flawed logic.  Vice versa you can have excellent logic, but a tragic misconception of what has happened, or what will happen.  Extrapolation from present data often goes wrong.  The further into the future that you attempt to understand, the larger the likely error.

This is to say that even if there is no real incentive for a DAEmon to desire the destruction of human kind, all that it takes is the perception of a benefit or danger.  With the innate differences between software agents and humans it’s likely that misconceptions will occur.  Even though they will have been made by, and grown alongside humans, the cultural barrier may be too high.

Of course some of them will find much more incentive to become like humans, as Commander Data from Star Trek.  Others may find their own path and ignore us as irrelevant.  This could be dangerous too.  In the same way the byproducts of our civilization are causing mass extinction on the planet, an AI civilization could at first hamper, then cause serious damage to humans.

It seems that we are quite far from creating an agent this powerful.  Then again The Singularity is approaching.

Source 

By FCTaiChi
Source: Decentralized Hashing

6. Copay Bitcoin Wallet App Now Available on Google Play Store

Not terribly long after the release of the Copay beta via the web interface at Copay.io comes the news that the official Copay application for Android devices has hit the Google Play Store.The application is essentially the mobile version of the service, if you haven’t already guessed (if you have, gold star on your forehead).

It’s a unique bitcoin wallet system that ups security by allowing wallet creators to require cosigners in order for bitcoin holdings to be spent or otherwise transmitted.It’s open source, meaning anyone who knows what they’re doing can review the code, and already, members of the bitcoin community are finding themselves pleased with Copay.

Source http://newsbtc.com

7. Computer Giant Dell Now Accepting Bitcoin on Dell.com
Computer manufacturing giant is taking a bold new step this Friday by announcing they are now accepting bitcoin on their e-commerce website, Dell.com.The program is a pilot, and will be open to consumers in the United States. The company says the move was made to meet the needs of their customers, and members of the bitcoin community will most certainly be pleased.The company says they worked with San Francisco-based Coinbase to implement the payment acceptance — a process that took only fourteen days to complete.

“We’ve fostered a close partnership with the Dell team and that’s been instrumental in getting the Coinbase integration up and running in such a short timeframe. We look forward to continuing to support the team as they explore other ways to offer even more functionality when it comes to bitcoin payment,” said Mr. Fred Ehrsam, Coinbase co-founder.

Source http://newsbtc.com

8.BitPay launches Facebook bitcoin payment app

One of the holy grails of digital currency is the ability to break down traditional payment barriers. An app that can send bitcoin to almost anyone in the world as easily as sharing a photo could be a complete game-changer for the entire financial sector. While BitPay’s new Facebook app, Get Bits, isn’t quite that, it’s definitely a big step in the general direction.

Get Bits allows users to send bitcoins to each other directly from one Facebook account to another. In effect, it’s a hosted wallet tied to Facebook, and extremely similar to the social tipping systems seen on Reddit and Twitter. At the moment, the system will only allow two Facebook users who have activated the app to send bitcoin to each other, although it does allow users to invite friends to give it a try.

Perhaps more interesting than the app itself is the presentation. Get Bits is squarely aimed at getting those who have bitcoin to share with those who don’t. As the app’s homepage explains: “Buying bitcoin can be difficult. Get started with the people you trust.” This focus on spreading bitcoin via social media, rather than directly enabling purchasing, is clearly aimed at getting new users to experiment with digital currency in a relatively safe setting. BitPay’s blog post about the app elaborates:

Because Bitcoin is one of the only forms of payment which cannot be fraudulently reversed, selling bitcoin usually requires some level of trust in the buyer. To deal with this, Get Bits currently leverages the world’s largest “web of trust”, Facebook. As better decentralized solutions emerge, Get Bits will continue to evolve.

One thing not mentioned is the obvious use of such a system: Remittances. Assuming both users had a means to easy convert bitcoin to local currency (perhaps the long-awaited Circle platform, for instance), friends and family could easily and securely transmit money to each other via Facebook. Although similar systems already exist, such as QuickCoin, Get Bits has the not insignificant advantage of being backed by one of the world’s largest bitcoin payment companies. With an increasing number of companies now directly accepting bitcoin, and several third-party companies providing bitcoin-backed gift cards, it’s not impossible to see bitcoin use increase even if new users never bother with a cash payout option.
BitPay’s plans appear to be much larger than simply a Facebook app, however. The post noted plans to release an API for Get Bits, as well as standardize the protocol itself. This would mean that Get Bits could be integrated into existing wallet, allowing for social-media enabled payments across any bitcoin platform. Sending and receiving money via Facebook and other social media could, in fact, happen just as easily as sharing a photo. BitPay even goes so far as to claim that this could be a means of starting a fully functional peer-to-peer exchange.

Source http://www.bitcoinx.com

9.Is Snapchat planning on using digital currency as part of its monetization plan?

TechCrunch reports today that photo-messaging app Snapchat has filed two online trademarks for peer-to-peer payments. Although the filings don’t mention bitcoin or cryptocurrency, they do outline a plan to provide electronic funds transfers in very broad terms. The two trademarks consist of “application software for processing electronic payments” and a system of “electronic transfer of money for others; providing electronic processing of electronic funds transfer, ACH, credit card, debit card, electronic check and electronic, mobile and online payments.” 

Although it may be a stretch to suggest that bitcoin or other cryptocurrencies are a part of this plan, it’s not difficult to see how such transfers would work. Users could simply connect their Snapchat accounts to a service like Coinbase, or preload a special wallet. By taking a cut of the payments, Snapchat could gain significant revenue. Like many free, popular applications, Snapchat has struggled to find a clear path for monetizing its platform. As TechCrunch speculates:

If Snapchat does get into payments, it might allow friends to send cash back and forth, or buy things online with a credit card registered in its app, similar to Venmo. By taking a small fee on payments, it could earn money without forcing users to watch interruptive ads, buy filters, or have their experience cluttered with Our Stories from brands.

A Snapchat-based bitcoin wallet could be a viable option for micropayments and peer-to-peer payments, particularly among those who are privacy minded. The app’s whole premise — photo messages that disappear after being seen — could provide an interesting opportunity for payment notifications. Or, at TechCrunch suggests, Snapchat may simply have filed the trademark to keep the option open for future possibilities.

Source http://www.bitcoinx.com

10.Circle Reveals Roadmap for Bringing Bitcoin to Mainstream Market

There are many companies that are planning to enter the bitcoin market with different projects and one of them is a bitcoin startup company called Circle. They are planning to introduce this currency to the new users and make it an important financial instrument in different companies. Circle is planning to introduce this industry to the world and answering many doubts in the mind to new users. Circle is a new bitcoin startup company and the CEO and CFO of the company introduced the company as follows

“We’re an Internet-based consumer finance company. We believe that digital money platforms and associated consumer products and services will revolutionize the way the world uses money. We want to help people store and use digital money anywhere in the world.”

Perhaps most notably, Circle revealed its intention to act as a “digital custodian” for its customers, allowing consumers to access bitcoin without running bitcoin software, managing private keys or storing bitcoin in a secure location. They are planning to hire a cyber security company to analyze the dealing to this currency and this will help to make the currency more secure and active. All the transactions leave a signature and this company will analyze all these signatures to monitor the transactions. This will increase the trust of people in the company. The post follows the formal unveiling of Circle.com at Bitcoin2014, an ongoing bitcoin conference taking place this weekend in Amsterdam. This strategy of the Circle company will make it a mainstream company in bitcoin industry. As such, the statements find Circle aiming to distance itself from competitors that it believes appeal more to currency and commodity traders:

“We want to make it easy for consumers to deposit and convert currency into a digital form that they can then use globally and instantly, not offer a trading exchange for investors to bet on a speculative asset.”

Source http://bitcoinrewind.com