Israeli Bitcoin Conference Postponed Due to Gaza Crisis

The Inside Bitcoins conference in Tel Aviv has been postponed due to logistical problems resulting from the ongoing military action in the Gaza Strip between the Israeli military and Hamas.

The postponement stems from the cancelation of international flights to Israel in response to rocket attacks launched against Ben Gurion International Airport in Tel Aviv. Due to the international profile of many of the conference’s speakers and attendees, the conference is being moved forward to an as-yet-undisclosed date.

CoinDesk spoke with Alan Meckler, chairman and CEO of Mediabistro Inc, which operates Inside Bitcoins. He said that the military crisis – and concerns that the conference would not function without its global guest list – prompted the delay.

Additionally, Meckler noted the fact that several conference participants are currently on active duty with the Israeli Defense Force during the operation in the Gaza Strip.
Meckler explained:

“We had planned to go ahead with the show while missing some of our partners due to military service. But once the airlines canceled all flights we were faced with losing speakers and paid attendees and exhibitors. We had over 15 exhibitors and sponsors and would have had over 200 paid attendees but for the conflict in Gaza.”

Flights to Tel Aviv called off

Ben Gurion International Airport was forced to close to incoming flights after a rocket struck nearby. The rocket was fired from the Gaza Strip, where Israeli forces bombed scores of Hamas targets and left hundreds of people dead or wounded.

Several major US carriers issued temporary flight suspensions, and according to press reports at least one American aircraft had to redirect to another nation after approaching the airport.

The US Federal Aviation Administration (FAA) issued a 24-hour ban on flights to Tel Aviv, set to expire at 12.15 pm EST on 23rd July.

In a notice to air carriers in the US, the FFA said that the “hazardous” situation in Tel Aviv had prompted the temporary ban. The agency is expected to update airlines in the next 24 hours on what may lie ahead.

However, the FAA made no indication whether or not it would lift or extend the flight ban after the initial period expires.

Setting the date

According to Meckler, a new date for the Tel Aviv conference has yet to be chosen. However, given the volatile situation in Israel and the Gaza Strip – and throughout the entire region – it remains unclear when the bitcoin gathering will take place.

He went on to suggest that the conference situation is unfortunate, given the diverse set of speakers and the exhibitors set to take the stage in Tel Aviv. Meckler predicted that the conference, whenever it does take place, will still be a success.

Source : http://www.coindesk.com

Gliph brings back Bitcoin payment functionality for iOS app

Private messaging app Gliph has brought back its bitcoin sending functionality. The functionality was previously removed in order for the app to remain in the App Store after Apple banned all apps capable of transmitting bitcoins. Apple lifted the ban several weeks ago, subject to certain conditions, and several bitcoin payment apps have since returned.

The app aims to make communications private. In transactions made off of online ads, information such as e-mail and phone number are hidden. Another objective is to prevent social networks from spying on private conversations. It is perhaps fitting that they have taken up the cause of a currency which also seeks anonymity.

Users access either their Coinbase or Blockchain wallets, which are integrated through the app, to send bitcoins.As part of the relaunch, the app has added the ability to scan QR codes. The app is also available for Android.

Source: Digital Currency Magnates

WinkDex Bitcoin Price Index Launches Developer API

WinkDex, the bitcoin price index created by bitcoin investors and entrepreneurs Cameron and Tyler Winklevoss, has launched a new API for developers.

As first reported by Fortune, the WinkDex API was made available today. The API page on the index’s website outlines key information, as well as suggestions for application development.

Cameron Winklevoss told Fortune that the benefit of the API release would help both the index itself, as well as the broader bitcoin community, saying:

“We’ve spent a lot of time trying to build a really cool tool. Obviously the index will be big for us because it will be used to price any future ETF. But, we also wanted to build on this for the betterment of the bitcoin community.”

The WinkDex, known formally as the Winklevoss Index, launched in February of this year and compiles price data from a number of key bitcoin exchanges throughout the space. The index will act in conjunction with Winklevoss Capital Management’s plan to offer a bitcoin ETF (exchange-traded fund) by providing price information to that investment vehicle.

Building trader tools

The WinkDex aims to provide up-to-date price data that will serve as the foundation for both the proposed bitcoin ETF and other applications of the index.

Winklevoss told Fortune that the API launch opens the doors to unexpected use cases. While suggesting that the primary focus will be the facilitation of price data, it’s very possible that other uses may come into focus, he said, adding:

“That’s the fun part a little bit, is not knowing what the hell people are going to do on it. It’ll be really interesting to see what people do. And even though ostensibly an API of a pricing product is not super sexy, this matters to the bitcoin community.”

With the bitcoin ETF – which is expected to trade under the ticker symbol ‘COIN’ – still awaiting regulatory approval, the WinkDex API launch suggests that the Winklevosses intend to push the platform beyond price indexing.

Looking ahead, the initiative will see the launch of Android and iOS mobile apps, as well as the expected influx of developer-created apps.
Winklevoss told CoinDesk:

“Over the next year, we’re going to continue to refine WinkDex for its use as a leading data tool for the bitcoin ecosystem.”

Budding bitcoin magnates

The API launch is one step in a broader move by Cameron and Tyler Winklevoss and Winklevoss Capital Management to stake a serious claim in the digital currency world.

As it stands, the two brothers are visible members of the bitcoin community, having made significant early investments in the currency. The pair plan to speak at the Money2020 2014 conference in November, and appeared in May at a startup trade show in Seoul, South Korea.
No indications have yet been made as to when the ETF may launch.

Source : http://www.coindesk.com 

Former Goldman Trader gets $1.6 million funding for new bitcoin exchange in Japan

Yuzo Kano, a former derivatives trader at Goldman Sachs, has quit his day job to spearhead a new bitcoin exchange in Japan.

The new exchange, called bitFlyer, will facilitate yen-based trading with bitcoins. The exchange aims to fill the gaping in Japan left by MtGox’s collapse, on which Kano commented:

“That’s one less competitor for us, but it also left many Japanese with a very negative impression of bitcoin. We already had a company then and felt it was up to us to rebuild the trust.”

He added: “If we have another fiasco like Mt. Gox, it’s game over. There needs to be monitoring to prevent that from happening.”

bitFlyer will differ from most exchanges in that it will act as the counterparty to trades instead of bringing together buyers and sellers. Kano believes that this will make trading simpler, but also introduces risk. In a sense, bitFlyer is more of a trader than an exchange. Kano says that experience with derivatives and managing risk will come in useful.

Other ventures are vying for the Japanese market. BitOcean Japan is a composite of Chinese ATM company BitOcean and Atlas ATS, a US-based bitcoin exchange platform provider. Kraken is also planning a Japanese website for bitcoin-yen trading as well, a trend similar to that of Chinese exchanges looking to expand westward.

Kano has already raised 160 million yen ($1.6 million) for the new venture and is looking to overseas investors for more. He aims to use the additional funding for overseas expansion.

Kano actually served in two stints at Goldman Sachs. With a Masters’ degree in fluid dynamics, he developed an appreciation for complex systems. After working as an analyst, he left to BNP Paribas SA to learn how to trade, after which he returned to Goldman.

Source: Digital Currency Magnates

 Gliph iOS Messaging App Reinstates Bitcoin Functionality

Privacy-focused messaging app Gliph once again supports bitcoin functionality in its newest iOS release. The announcement follows Apple’s recent reversal of its ban on bitcoin apps, which meant Gliph was forced to disable bitcoin sending late last year.

Now, with its latest version and the revised set of rules from Apple, Gliph is promoting itself as one of the easiest ways to both obtain and use bitcoin, integrating, as it does, two of the industry’s most popular wallets: Coinbase and Blockchain.

Gliph CEO and co-founder Rob Banagale believes the combination of Apple, Coinbase and Blockchain makes his product a powerful app that will help increase the number of transactions in the bitcoin ecosystem, he told CoinDesk, adding:

“Gliph is leading the way in providing solutions to take bitcoin mainstream.”

Building in bitcoin

Gliph is primarily a messaging app. However, unlike other options on the market today, it gives users who have linked bitcoin wallets to their accounts the ability to send bitcoin to one another.

Banagale said he believes Gliph’s inclusion of bitcoin functionality provides an effortless way of transacting with the cryptocurrency.

He noted:

“The other [iOS] apps we’ve seen so far are locally hosted wallets. That’s great for advanced users. But managing your own private key and holding onto your own bitcoin is too overwhelming for most folks.”

Every bitcoin function on Gliph is pulled from either the Coinbase or Blockchain API – including the new QR code-generating feature that has made an appearance in this new release. According to Banagale, this makes Gliph an extremely practical way of sending and receiving bitcoin, removing the need for a wallet app.

However, it is worth noting that two-factor authorisation must be disabled to allow integration with the blockchain wallet, due to limitations of the API.

See an overview of Gliph in the video below:

Gliph Commercial Export 5 from Gliph on Vimeo.

Privacy tool

Gliph’s primary purpose is as a privacy-enhancing messaging application. It provides one-to-one capabilities, group messaging and something called ‘cloaked email’, which allows users to send messages to email recipients without revealing their true identity.

Banagale says that to provide advanced privacy, Gliph only temporarily stores messages on its servers, after which they are deleted.

He pointed out:

“We offer data impermanence – kind of a hot topic. [Some apps] will say that they are deleting stuff when they aren’t actually deleting stuff.”

Another new feature in the latest version is its optional ‘profiles’. The reason Gliph is called Gliph comes from the way it enables a series of symbols – or hieroglyphs – to identify someone, rather than revealing their name.

However, profiles provide the option to offer more identifying information - such as name, email address, phone number, bitcoin address, etc - should a user feel it is desirable to do so. Each item can be made public or private with a quick tap on the screen.

“We also provide really strong privacy around the personal information that you put in and we’ve included that with profiles. You can more easily identify people using the services – makes it easier than before,” said Banagale.

Apple appeal

Bitcoin sending and receiving functions included in the iOS version of Gliph were removed in late 2013 at the behest of Apple. Subsequently, a number of other apps ended up being removed from the App Store – including the wallet apps from Coinbase and Blockchain. Some other wallet apps are now starting to return to the online store.

Banagale believes that part of the reason Apple ended up revising its policies towards virtual currencies – which has led to bitcoin-related apps being accepted back into the App Store – is because Gliph appealed Apple’s decision to remove bitcoin functionality from its app.

He told CoinDesk:

“When we were asked to remove the bitcoin sending, I asked for clarification. And the way to do that, I was told, was to write an appeal letter.”

Banagale did that, and he’s convinced that this is the reason why Apple eventually acquiesced.

“I took [the appeal letter] seriously as the only real recourse that we had. When push came to shove, we just were really transparent and offering feedback instead of trying to point fingers,” he said.

Source : http://www.coindesk.com

Thousands of websites from South Korea will embrace Bitcoin due to Galaxia Communications

After the South Korean payment gateway giant, Galaxia Communications, announced to join Bitcoin payment method, thousands of websites from South Korea will embrace Bitcoins.

Galaxia Communications is one of the top three online payment companies in South Korea.This company has more than 10,000 customers both inside and outside of South Korea. It also is the top seller for mobile gift card and coupon in South Korea. The cooperated Bitcoin payment processor is Coinplug, which provides technology support for Bitcoin transaction.

The vice president and COO of Galaxia Communications, Yongkwang Kim, said the first time he heard about Bitcoin is just last year. Now he already has his own Bitcoin wallet. Kim also stated that persuading other staff of the company to accept Bitcoin is still challenging, since there is lots of negative news about digital currency, which makes bitcoin look unreliable. Kim also emphasised that there is no big problem in technical implementation:"We have operated many other payment methods. The operation of Bitcoin payment is relatively easier."

Source: Local Bitcoins

 Price of one Bitcoin to reach $2000 by end of 2014

A prominent venture capitalist has predicted that the price of a single Bitcoin will breach the $2000 mark by the end of the year.

Geoff Lewis, a leading partner at the Founders Fund which has investors and early employees of prominent technology companies including PayPal, Facebook, Googleand Google has predicted at the CoinSummit in London that Bitcoin will rocket in price within the next five months.

Other industry experts have told the Daily Telegraph newspaper that the $2000 price is an underestimate of the potential value Bitcoin will posses in the future.
Roger Ver said”

“I actually think $2000 is a pretty conservative estimate,” he told The Telegraph. “We don’t know for sure if it’s going to happen in this year, but there’s no doubt in my mind that Bitcoin’s price is going to be thousands of dollars and, almost for sure, tens of thousands of dollars for one.”

There are now a whopping 13m Bitcoins in circulation with a growing number of wallets and prominent stores accepting the currency.

Source : http://www.coinspectator.com

 Cryptolina North Carolina Bitcoin Expo featuring Edmund Moy

 

The Cryptolina Bitcoin Expo is picking up where this past weekend’s Chicago Bitcoin conference left off. Raleigh, North Carolina – the city that has been called a new Silicon Valley – will host Cryptolina on August 15 and 16, and organizers announced today that a major regulatory discussion will occur on the morning of Saturday, August 16.

The ‘strategic regulatory panel’ will be moderated by Todd Erickson of the Bitcoin Foundation’s regulatory affairs committee, feature former U.S. Mint Director and Cryptolina keynote speaker Edmund Moy, and focus on the recent N.Y. BitLicense regulations as well as the future of Bitcoin regulation.

Per Cryptolina’s press release, other regulatory panelists include:

Carol Van Cleef, Esq. – A partner with Washington-based law firm Manatt, Phelps & Phillips, Ms. Van Cleef represents financial services companies and other clients in federal and state regulatory, compliance, and enforcement matters, including anti-money laundering, electronic payments and federal deposit insurance.

David Aylor, Esq. – An acting part time-prosecutor and former Assistant Solicitor for the Ninth Circuit, Aylor has been practicing criminal law and civil law for several years in South Carolina. Most recently he has been representing the individual alleged to be involved with what is believed to be the first US Government Federal seizure of Bitcoins.

Tyler Gibbons, CPA – A CPA in public practice with Charleston-based Riser McLaurin and Gibbons, Tyler provides guidance on Federal and State compliance issues. He has presented to various associations on virtual currency tax reporting and is a current candidate for appointment to the IRS Information Reporting Advisory Committee.

Andrew Beal, Esq. – A Los Angeles-based corporate attorney and cryptoequity expert who represents Bitcoin exchanges, large sellers, and ATM operators. He is legal counsel to several Bitcoin 2.0 companies working on issues related to crowd sales and distributed governance.

 Source : http://www.cryptocoinsnews.com

Ether, the Fuel of the Ethereum Project, Is Available for Pre-Order

Ethereum announced the beginning of its 42-day presale for Ether, the crypto-units which will fuel its distributed application software platform. Ethereum will acquire the Ether through a premine. Due to the controversial nature of premines, Ethereum will likely face competition from forks once the project source code is released.

Ether, the Fuel of the Ethereum Project, Is Available for Pre-Order

Earlier today, Ethereum began its official 42-day Ether presale.  The developers are selling the Ether through a fixed-price model. Initially, 1 bitcoin will purchase 2,000 ETH, but that number will linearly decline over the course of the presale to a final price of 1,337 ETH/1 BTC at the end of the sale. The Ether will not exist until the developers mine the Genesis block, which they anticipate happening in the winter of 2014-2015. After mining the Genesis block, they will send the IPO’d Ether to everyone who participated in the presale.

Ethereum is the much anticipated distributed application software platform co-founded by Peter Thiel Fellowship winner Vitalik Buterin. Ethereum’s goals are quite ambitious.

“Ethereum can be used to codify, decentralize, secure and trade just about anything: voting, domain names, financial exchanges, crowdfunding, company governance, contracts and agreements of most kind, intellectual property, and even smart property thanks to hardware integration.”

Since Ethereum is not strictly a cryptocurrency, Ether serves as the platform’s “fuel” rather than a monetary unit. Users must pay Ether to build or use applications built on the Ethereum platform. According to the developers, this prevents spam.

 “Without the requirement of payment of ether for every computational step and storage operation within the system, infinite loops or excessive storage demands could bog down ethereum and effectively destroy it.”

Developers or users can pre-buy Ether now for convenience or to hedge against a future price increase. However, Ethereum does not want speculators buying Ether as an investment. The Terms and Conditions agreement buyers sign before they purchase Ether states that:

“Purchaser is not exchanging bitcoin (BTC) for ETH for the purpose of speculative investment.”

However, it is unclear how Ethereum would distinguish a speculator from a developer and whether they would actually pursue any action against someone buying Ether as an investment.

Ethereum Plans to Face Competition from “Alt-etherea”

Ethereum’s decision to premine Ether and distribute it via an IPO has been controversial within the cryptocurrency community. Disgruntled community members have discussed forking the Ethereum source code once it is released on GitHub and releasing a non-premined “alt-etherea” to compete with the official project. Vitalik Buterin acknowledged this possibility in an official Ethereum blog post.

However, premines have become commonplace for projects which require a full-time research and development staff to function properly, and it is unlikely that these alt-etherea will prove to be a serious threat to the Ethereum platform. Earlier this year, Kyle Torpey explained why the community should not oppose reasonable premines.

“I’m a strong believer in the old saying, “You get what you pay for”, and I think joining an Ethereum fork without a premine would basically be like paying less for anything else that you buy on a regular basis. When you reward the original creators or producers of a product or service to a lower degree, you’re going to notice a decline in quality.”

By conducting an IPO, Ethereum will have a monetary advantage over its anti-premine competition. Combined with Ethereum’s research and development advantage over the competition, it is unlikely they will face a serious challenge from Ethereum forks.

Though prospective Ether purchasers should not worry about the threat of alt-etherea, Ethereum faces significant competition from current and future next-generation cryptocurrency platforms such as Nxt, Counterparty, and Mastercoin. Nevertheless, the community has already begun pouring money into the Ether presale. Within two hours of the sale’s launch, buyers had purchased nearly 2.5 million units of Ether.

Source : http://www.cryptocoinsnews.com

Beepi and Bitpay Team Up To Accept Bitcoin For Used Cars

Beepi  a peer-to-peer used auto marketplace based in California, recently announced that it will begin accepting Bitcoin payments through a partnership with Bitpay. Both companies are hopeful the new alliance will help simplify the payment process for customers paying with Bitcoin for used cars.

What Is Beepi?

In 2013, Beepi entered the used car market, a market left untouched by innovation for decades. Instead of the traditional dealer-consumer or consumer-consumer negotiations, Beepi connects buyers and sellers directly with no haggling, trips to the dealership, or overpriced commissions. Beepi works to make the used auto market a place for both sides of the transaction to come together and strike a deal that benefits everyone involved.

Where BitPay Comes In

Using BitPay is another way Beepi hopes to streamline the process of buying a used car. Stephanie Wargo, BitPay’s vice president of marketing, says the transaction is quick and easy for both the seller and the buyer.

“Merchants list their prices in dollars, and when it comes time for the consumer to pay for the purchase, we provide the consumer with a spot rate and hold that rate for 15 minutes to give the customer time to pay,” Wargo said in an email. “The merchant receives the price of that item minus BitPay’s fees (which are 1 percent or lower). Funds are deposited the next business day, and the merchant has the option of taking all dollars, all bitcoins, or any split.”

After customers browse cars and select “check-out” on the Beepi site, the site prompts them to select a payment option, one of which is a Bitcoin icon. Then BitPay allows the buyer to use bitcoins to complete the purchase while the seller still receives cash.

Why Bitcoin Works for Buying Cars

Cars are usually the second-largest purchase someone makes in a lifetime. Like any other large purchase, buying a car isn’t usually done with cash, so the transaction comes with its own financial fees and hurdles. This is especially true for online payments, including those made in the used auto market.

So, instead of using a payment service that charges a hefty percentage of the price tag, online merchants are turning to Bitcoin as a cheaper and more cost-effective alternative. Bitcoin has a very low transaction cost, which is helpful for large purchases.

BitPay has already proven that using bitcoins to pay for cars is successful, but Beepi was its first online used car partner. Bitcoin Car Dealer also deals in using bitcoins to pay for cars, particularly high-end models. Even Lamborghini joined in, selling a Tesla Model S using bitcoins in December 2013.

Moving to Bitcoin is the natural solution in a tech-savvy world, according to Beepi cofounders Ale Resnik and Owen Savir. “We’re shaping the antiquated process of buying a car by removing complex barriers that go beyond just payment options,” they said. “In turn, Bitcoin is reshaping an outdated payments industry, which is moving us toward a digital, cashless society.”

Source : http://www.cryptocoinsnews.com

“We Plan to Build the Legitimacy and Credibility for Digital Currencies in Washington”

Perianne Boring graduated from the University of Florida during the height of the latest round of economic downturn and saw the results first hand in her native Lakeland. Since that time she has worked as a Congressional financial analyst and free market advocate and has written extensively on macroeconomics and consumer finance. Perianne also runs a popular personal blog called the Boring Bitcoin Report.

Ms. Boring is a firm believer that cryptocurrency technologies have the potential to correct many of the problems inherent in a centralized economic system.

CoinTelegraph: What are the immediate general objectives of the Association?

Perianne Boring: The next several months are dedicated to operational logistics including recruiting our membership and advisory board and executive team. We plan to be fully operational at the start of the new Congress in January 2015.

CT: What is your opinion of the draft of regulations released by New York State?

PB: The Chamber of Digital Commerce finds the New York Department of Financial Services (NYDFS) proposed BitLicense rules and regulations to be severely debilitating to the digital currency industry. Despite Ben Lawsky’s claims that these proposed regulations are intended to be guardrails to “protect consumers and root out illegal activity – without stifling beneficial innovation” these rules could potential crush the Bitcoin industry in New York and stifle jobs, investment, and innovation. The Digital Chamber agrees that we need guardrails in these areas, but these proposed regulations are onerous and in many cases simply misplaced, potentially seriously injuring legitimate applications of this valuable emerging area.

CT: Did these regulations have any effect on any of your plans with the Digital Chamber of Commerce?

PB: The Digital Chamber is calling on the Bitcoin community to submit comments to the NYDFS. Instructions on how to submit comments can be found on the NYDFS website at http://www.dos.ny.gov/info/register.htm.

CT: Why is a Bitcoin Trade Association necessary?

PB: To date, the digital currency industry has only been informally represented in Washington, DC. We recognize that it is crucial that legislators, regulators, the media, and the policy community have an authoritative, high-integrity source of information to guide them in the appropriate treatment of this new, potentially highly beneficial technology.

CT: What is the Association’s position on cryptocurrency regulation?

PB:  Good policy is imperative to facilitating the emergence of digital currencies as a valuable participant in the American and world economy.

CT: Is fair and balanced regulation possible in today’s political climate?

PB:  We certainly hope to help facilitate this process.

- Perianne hosting the Money & Tech show

CT: As an economist, what are your feelings about the influence of the finance industry on the political dialog?

PB:  The 2008 financial crisis devastated my community in Lakeland, FL. I didn’t know anyone that was not affected by the housing collapse. At the time I was studying economics at the University and Florida and began digging for answers as to how this could have happened.

With over US$17 trillion of debt, another estimated US$100 trillion in off-sheet liabilities, and expansionary monetary policy, the younger generation’s economic health and future is at great risk. I dedicated my career to being an advocate for sound money policies. I believe Bitcoin is a beautiful technology that has the potential to increase access to financial services home and abroad.

CT: The financial industry has a great deal of influence in Washington. How do you plan to compete?

PB: We are looking to recruit a top tier team of policy and public relations professionals. We plan to build the legitimacy and credibility for digital currencies in Washington and among the larger public. We will also form a coalition that will advocate on behalf of digital currencies. These groups will include consumer, merchant and small business organizations as well as policy groups. Overstock is currently the best example of a third-party advocate for Bitcoin.

"We plan to build the legitimacy and credibility for digital currencies in Washington and among the larger public. We will also form a coalition that will advocate on behalf of digital currencies."

CT: Is the association now or will it be in the future aligned with any political action committees?

PB: Yes.

CT: What is the overall goal of the trade association?

PB: The goal of the Digital Chamber is to promote the acceptance and use of digital assets where socially beneficial and prevent the, primarily, federal government from stifling these innovative, affordable financial services and payment processes through ill-considered political, legislative, or regulatory action.

CT: Recently we had a lot of people comparing your Association to the Bitcoin Foundation. How can you comment that?

PB: We are not associated with the Bitcoin Foundation, but we welcome collaboration and will provide enthusiastic support to any groups who share the Chamber's meticulously high standards for integrity and authenticity.

Source : http://thebitcoinnews.co.uk