Bitcoin Exchange MintPal Taken Over by Moopay LTD in Acquisition
Moopay LTD confirmed rumors and announced today that after long talks
with leading altcoin exchange MintPal, they have acquired their
business. Mintpal will join the ranks of Moopay’s payment processing
service Moolah this August. Moopay plans to make serious security
upgrades to the exchange, starting with a full audit and making sure all
the back doors are closed.
Founded
earlier this year, MintPal has always run a business model of quality
over quantity. They have done their best to make sure scam-like coins do
not enter their trading platform. The exchange has seen a high amount
of success, but was recently the target of a hacking attack where Vericoin was targeted specifically and successfully stolen. The theft caused the Vericoin developers to hard-fork the coin, and Mintpal lost a bit of trust.
Security seems to be the main focus of Moopay in the recent acquisition. Moopay Founder and CEO Alex Green wrote a blog on the acquisition, titled “We’re Taking Over MintPal, Here’s What You Need To Know” where he explained their plans for the altcoin exchange.
Moopay already has a trading platform integrated with their Moolah platform, but Green plans to make sure MintPal stays separate from the Moolah platform. Before the Moolah trading platform, there was Prelude that saw success, but was eventually phased out to incorporate Moolah Trade instead.
Mintpal will be the “go-to place for divergent altcoin markets with coin based pairings,” Green stated, starting with Bitcoin. He plans to cut out any dead coins on the market and add new coins once they decide on a proper system of decision-making.
Moolah trading will focus on FIAT markets as they already have U.S. dollar markets established. “As a result, we will be removing the coin based pairings from Moolah Trade on August 7th, 2014,” Green said. “Moolah Trade will focus exclusively on making it easier to get involved with digital currencies, which means we will be working tirelessly in order to bring our instant buy, sell and local payment mechanisms online as soon as possible.”
Source: The Bitcoin News
Security seems to be the main focus of Moopay in the recent acquisition. Moopay Founder and CEO Alex Green wrote a blog on the acquisition, titled “We’re Taking Over MintPal, Here’s What You Need To Know” where he explained their plans for the altcoin exchange.
“In my opinion they were, and still are, one of the better exchanges out there. They have a great UI, a number of diverse markets and a highly active user base. The exchange has a number of great points, and the entire moolah.io team felt as if we could take it to the next level. With a full revamp in terms of security and performance, MintPal could be taken to new heights.”In the acquisition, MintPal will now have the Moopay 24/7 customer support. Along with this, MintPal will have a desktop based trading platform created and a long-anticipated mobile trading interface. The change will happen throughout August, but there will be no down-time according to Moopay LTD.
“Our first action to take regarding MintPal, is to beef up the security, make a number of performance tweaks; do a formal audit and review of operational procedures. Once this is done, we will focus on introducing new features to both platforms. They already have a great platform, we just need to make sure that all the doors are locked, and that none of the windows are open.”
MintPal vs. Moolah’s Already Existing Trade Platform
Moopay already has a trading platform integrated with their Moolah platform, but Green plans to make sure MintPal stays separate from the Moolah platform. Before the Moolah trading platform, there was Prelude that saw success, but was eventually phased out to incorporate Moolah Trade instead.
Mintpal will be the “go-to place for divergent altcoin markets with coin based pairings,” Green stated, starting with Bitcoin. He plans to cut out any dead coins on the market and add new coins once they decide on a proper system of decision-making.
Moolah trading will focus on FIAT markets as they already have U.S. dollar markets established. “As a result, we will be removing the coin based pairings from Moolah Trade on August 7th, 2014,” Green said. “Moolah Trade will focus exclusively on making it easier to get involved with digital currencies, which means we will be working tirelessly in order to bring our instant buy, sell and local payment mechanisms online as soon as possible.”
Source: The Bitcoin News
Coinapult Launches LOCKS, a Tool to Eliminate Bitcoin Price Volatility
Bitcoin’s price volatility has long been viewed as one of the biggest
barriers to mainstream consumer adoption, but while a long-recognized
problem, the issue has yet to be addressed by any specific market
solutions.
That is set to change, however, with the introduction of a new service from Panama-based bitcoin wallet provider Coinapult.
Called LOCKS, the offering allows users outside the US to peg the value
of their BTC to the price of gold, silver, British pounds, US dollars
and euros.
Coinapult CEO Ira Miller
told CoinDesk that despite suggestions that consumers in the developed
world may be less concerned with bitcoin’s volatility, this doesn’t mean
that the bitcoin industry shouldn’t move to address this potential pain
point in a bid to better court the market.
Miller explained:
“I think that [global consumers] have a higher tolerance for [price volatility] because they have been forced to suffer through a lot more volatility from their own currencies. It’s not necessarily because bitcoin is volatile and that’s something they’re comfortable with, it’s that they look less volatile compared to their national currency and if they had access to something like gold for instance, maybe they’d prefer that over either.”
Of course, Miller sees the solution as broadly appealing, mentioning
the potential usefulness of LOCKS for bitcoin businesses that want to
better manage their supply chain as well as the growing number of
employees that are paid in bitcoin, adding:
“People can’t really afford to hold bitcoin for very long. You’ve got to pay rent at the end of the month in euros or dollars, you may even at this time convince your landlord to pay rent using the bitcoin network, but at at the same time, you may have market action that happens during those 15 days that means you can’t cover that anymore.”
Founded in 2012, the release marks the first new consumer offering
from Coinapult in some time. Miller explained that Coinapult has been
primarily focusing on B2B solutions, merchant processing and other
verticals that position it to better serve Latin America, as well as its
SMS and email-based bitcoin sending solutions.
Miller added: “We think that these new consumer-facing services are
going to be really big in Latin America and we see Latin America as the
hottest emerging market for bitcoin all around.”
How LOCKS works
When users first log in to their Coinapult wallet, they can navigate
to the ‘My Locks’ screen for the option to lock a certain portion of
their wallet holdings to a selected asset.
Coinapult charges no fees for using the locking service, and does not
sell bitcoin to consumers. At the point a user locks in a value or
unlocks the value of their BTC, Miller explained, Coinapult quotes the
user for a certain number of coins at a certain price.
“If you exercise [locking or unlocking the funds], we’re guaranteeing
that we’ll provide you a certain number of coins at that price,” Miller
said. “If I lock 0.0085 BTC to the price of the US dollar, I will
always have $5 worth of bitcoin to spend. What that specific amount is
at the time is dependent on the market, but it will always be the same.
It will always be six euros worth of bitcoin.”
All funds are only redeemable in bitcoin, meaning users who peg a
certain amount of BTC to an ounce of gold cannot receive an ounce of
gold from Coinapult.
Users can also increase or decrease the amount of their lock should
they want to access their holdings for expenses or other purposes.
“Let’s say I think the pound is strong and I think I’m going to have
expenses in pounds coming up. It takes me to a confirmation page. I
click ‘Yes’. At this point it’s made me a quote, it’s giving me a price
for this transaction.”
Miller further clarified: “If the BTC-to-pound exchange rate doubles,
then tomorrow I get half as much bitcoin back, but it’s £3 worth of
bitcoin.”
Easing introductory conversations
Though Coinapult does not sell bitcoin to new users, Miller still
sees his tool as one aimed at helping to onboard consumers to the
bitcoin ecosystem.
For example, he described Coinapult as a service that could appeal to
consumers in Kenya who want to settle a debt at a bar or restaurant,
saying:
“You buy a drink for your friend and he says ‘I don’t have cash, why don’t I just send you some bitcoin?’. If that guy doesn’t have a wallet already, it can be kind of a challenge to actually get him to accept the payment. Even if he’s willing and curious, he still needs to get set up and you need to work through some logistics to make that initial payment.”
Miller sees LOCKS as a solution to this issue, one that would allow
the bitcoin sender in the scenario with a way to introduce the receiver
to bitcoin while preserving the value that he paid in the original
transaction.
“They can receive their first bitcoin payment and immediately lock it
to gold or their local currency, and at that moment they’ve experienced
bitcoin the payment network for the first time, and hopefully the
locking action will eliminate one or two of the things that will be very
new and uncomfortable for them about that experience,” Miller said.
First to market
Given that finding solutions to bitcoin’s price volatility could
prove integral to increasing adoption, Miller also discussed why he
believes his company was the first to come to the market with a
solution.
For example, Miller noted that gold-backed bitcoin initiatives have
fallen short for consumers due to their inability to find a middle
ground between fiat and digital currency.
Miller said:
“The fundamental misunderstanding is that gold is gold and dollars and euros are centralized assets, so you can’t decentralize them, you need a central party to be a steward of whatever the centralized asset.”
The CEO also went on to state that Coinapult’s willingness to operate
outside of the US market was a factor, as regulation there, he said,
makes it unclear whether such a solution could be provided.
Miller also believes that bringing the solution to market is a testament to what his team has achieved, adding:
“We think we’ve hit a sweet spot on the legal front, nothing like this has existed before. And where we choose to operate from, that’s all very fine balance that we spent a lot of time working out.”
Source : http://www.coindesk.com
Introducing Coinsetter SMS Bitcoin Price Alerts
As major changes in the bitcoin space continue to unfold, it is
crucial to stay up-to-date on the bitcoin price when the market begins
to fluctuate. To help notify you of important price movements in real
time while you are away from your computer, Coinsetter is introducing
its premier bitcoin price alerts platform that allows you to receive SMS
price alert texts and/or emails directly to your mobile phone. Through
Coinsetter price alerts, you’ll never have to miss an important trading
opportunity again. Best of all, price alerts are integrated into your
Coinsetter account so that you can easily keep track of and modify your
outstanding alerts while you trade online. Alerts arrive to you from a
dedicated Coinsetter phone number too, so you can add custom text
message settings to your phone to make sure you hear Coinsetter alerts
even if your phone is on silent.
All Coinsetter accounts now automatically have access to this new
trading feature. Our users can set alerts to any bitcoin price, whether
it be $1 or $10,000, and Coinsetter will instantly send a message to you
when the last traded price crosses the alert threshold. To use price
alerts, simply sign into your Coinsetter account and go to the Price Alerts
tab at the top of the screen. Once there, you can set your personal
alerts for any price, up to a total of five alerts. We believe you’ll
love the value this new feature adds to your bitcoin trading strategies.
Source : http://www.coinsetter.com
Atlas ATS Expands Institutional Bitcoin Exchange to European Market
New York-based bitcoin exchange services provider Atlas ATS has
announced the launch of its latest international offering, Atlas ATS
Europe.
The product of a partnership with Spain-based bitcoin ATM network and exchange specialist Recol Pro S.A., the launch follows the announcement of Atlas ATS‘s
Asian market entrance this July. That initiative found Atlas ATS
partnering with China-based bitcoin ATM manufacturer BitOcean for a new,
yet-to-be launched venture called BitOcean Japan.
Speaking to CoinDesk, Atlas ATS CEO Shawn Sloves and chief marketing and communications officer Rafi Reguer
indicated that the European expansion is simply the latest example of
the ‘global-local model’ that the exchange is seeking to leverage to
expand internationally.
Reguer explained that Atlas has been seeking to partner with
experienced local operators in a number of high-interest markets in a
bid to ensure regulatory compliance for consumers, saying:
“One of the things that distinguishes Atlas is the idea of embracing regulation and trying to get regulated. For the vast majority of individual investors and institutions out there, if digital currency is going to be a real thing that they invest in, it’s got to be on a platform that’s similar to the existing equities and futures exchanges, all of the bells and whistles that come with that, with all the audit-ability and technology.”
It’s this commitment to the design of its offering and its unique
plan for scaling its business that has won praise from top industry
analysts such as Wedbush partner Gil Luria.
Luria told Institutional Investor in June that he believes Atlas to be the frontrunner at creating a world-class trading platform, ahead of even existing market heavyweights such as SecondMarket and Kraken.
Three-pronged market approach
Atlas ATS Europe will offer three key components that the firm
believes will make it initially attractive to local bitcoin traders – a
trading platform, a multi-signature digital wallet, and a bitcoin ATM
network.
Ignacio Ozcariz, CEO of Recol, said that the partnership also
represents a deeper commitment to the space on behalf of his firm, which
has historically specialized in telecommunications and IT offerings,
saying:
“Recol is positioning itself to be a global operator in the bitcoin ecosystem and Atlas ATS Europe is a key part of that strategy.”
ATM access will be limited to Spain at launch. However, Recol has
promised to expand its network dramatically following the partnership.
Atlas ATS Europe will link to the company’s US order book in order to
provide a deeper pool of initial liquidity, and European and US
customers will now be able to buy and sell bitcoin in either US dollars
or euros.
Global expansion continues
Speaking to CoinDesk, Sloves indicated that Atlas is currently
seeking to expand its exchange through more partnerships around the
globe, and that a new offering in Dubai could be the next to launch.
Sloves said that, by working with local operators, Atlas is able to
expand its offerings in a legally compliant way, a practice that he
feels best positions Atlas for long-term market impact. He explained
that in Asia, for instance, it sought to work in Hong Kong and Singapore
before settling on Japan, highlighting some of the unique
considerations his firm made in this market.
Sloves said:
“In Singapore, we were developing local registration for AML and KYC, but the one thing that we look for in a country is partnerships. In Singapore, you need a local operator, someone who has a national ID card and can file a corporation. [...] In other countries, we set up banking relationships. We’re going to have local operators to handle local law and local compliance.”
By building strong relationships on each continent, Atlas ATS aims to
bring all the pieces together for a global bitcoin exchange with enough
liquidity to attract institutional investors.
Hinting at future plans, Sloves further said: “We’re also launching
Africa, where we’re working with another partner firm, and eventually
South America.”
Drinking the Kool-Aid
Having worked in the financial industry since the early 1990s, Sloves
held positions as a capital markets specialist and co-founded
multi-asset trading technology firm Fundamental Interactions in 2011.
After developing an interest in bitcoin, Sloves attended the Bitcoin2013 conference in San Jose and decided to leverage Fundamental Interactions’ technology to launch a digital currency exchange:
“We had a built matching engine for Wall Street firms, so we figured, we’re trading bitcoin, we’re spending millions of dollars on this, why don’t we apply it to digital currency?”
The move was more than savvy business, however, as Sloves also stressed the passion that his firm has for the project:
“One thing that makes us a little different, we believe in digital currency, we want to support it, increase usership, price stability, that’s our main objective. First and foremost, we drank the Kool-Aid, we believe the whole protocol and how it’s going to change everything. That’s what gets us up everyday in doing this stuff.”
Atlas ATS officially launched in March of this year, but has been offering private markets trading since late 2013.
Source : http://www.coindesk.com
Apple and Bitcoin Make Peace with Blockchain
Remember how Apple pulled all the cryptocurrency apps back in January? With the news that Apple would once again be allowing digital currency wallets, Blockchain has been working on re-releasing their wallet app, and it’s finally here.
Those
with jailbroken Iphones were able to bypass Apple’s restrictive App
Store and download the Blockchain app through Cydia, the App
Store-equivalent for jailbroken phones. Those without jailbroken phones
were left with a choice to either be left without any bitcoin wallet or
jailbreak their phone. However jailbreaking your phone comes with the
risk of blocking your phone, and the hassle of having to jailbreak after
every Apple update, but now Blockchain is back on the App Store.
Blockchain
was the most downloaded Bitcoin wallet on the Itunes store and was also
the last wallet to be shut down by Apple. Users of the app reacted strongly
to Blockchain being pulled from the Itunes store, yet Apple stood by
their decisions until March. In March, they reversed their decision and
their new regulatory guidelines state:
“Apps
may facilitate transmission of approved virtual currencies provided
that they do so in compliance with all state and federal laws for the
territories in which the app functions.“
Now
that the restrictions have been lifted, Blockchain has returned to the
App Store with the latest iOS Wallet. This marks the first Bitcoin
wallet to be reinstalled in the App Store this year. Nicolas Cary, the
CEO of Blockchain, made the announcement and today stated,
“The
new iOS Wallet has been completely rewritten from the ground up with an
emphasis on security and usability. A beautiful and simple user
experience has been designed to make Bitcoin easier than ever to use for
new consumers around the world.
‘We’re very excited to continue
investing in iOS again and working with Apple to reimagine how the world
transacts,’ says Nicolas Cary, CEO of Blockchain.”
Bitcoin
having a presence on the App Store not only provides Bitcoin users with a
way to take their coins with them, but it goes a long way to legitimize
Bitcoin and strengthens the community. Blockchain is the most popular
Bitcoin wallet in the world with over 1.9 million users and now will be
the first wallet added back to the App Store.
Taking
into consideration Blockchains success before being pulled, I’d expect
their app to be just as widely used as before if not more. The app looks
sleek and easy to use, and it’s feeling and appearance mimicking
banking apps. It aesthetically pleasing and feels intuitive to use. The
added security is a must have when taking into the consideration you
might forget your Iphone on the subway.
For those of us who didn’t break our Iphones and purchased Android phones, it’s time to head to the App Store.
Source : http://www.cryptocoinsnews.com
Jon Matonis: It’s Becoming Obvious to Major Businesses That Adopting Bitcoin is a No-Brainer
Jon Matonis is the Executive Director of the Bitcoin Foundation, a
prominent cryptocurrency researcher and advocate, and columnist for
Forbes and CoinDesk.
We reached out to Matonis recently to get his thoughts on the
foundation, BitLicenses and news about big companies such as Dell
accepting Bitcoin payments.
CoinTelegraph: The Bitcoin Foundation has been criticized recently
for being insufficiently transparent. What do you say to that criticism?
Jon Matonis: [Editor’s note: The foundation’s head of marketing and
communications first replied that Matonis and Gavin Andresen had both
publicly responded to that criticism on Twitter here, here, here and
here.]
We are actually perplexed by the criticism. Mostly because it is so
vague. As reporters, have you asked to clarify what “transparency” even
means in this context? Next week, we are launching our new website,
which is way more easy to navigate. We’re so excited it’s finally ready.
Source : http://www.thebitcoinchannel.com
The Truth About Bitcoin – Dispelling Common Myths About The Digital Currency
Bitcoin has become frequently talked about in the financial media.
Despite this the general public is still relatively under informed when
it comes to this digital currency.
In a January 2014 poll it was found that only 25% of US adults were familiar with Bitcoin. This means that there is still significant room to educate the general public about the advantages of using a peer-to-peer digital currency. To address some of those knowledge gaps here are some of the most common myths about Bitcoin as well some of its key benefits.
Myth #1: Bitcoin is no different to any other digital currency
There have been many other digital currencies in the past, including Beenz, Liberty Dollars and eGold. However these digital currencies are not the same as Bitcoin. These digital currencies were subject to control by financial regulators, governments and central banks. As a consequence they could only be issued according to the permission of these third parties. These third parties could destroy the currency or impose their own controls. Bitcoin is decentralised and therefore it is not subject to these types of controls.
Myth #2: Bitcoin is a Ponzi scheme
One of the most common attacks on that coin is that it is some type of Ponzi scheme. A Ponzi scheme uses funds from new investors in order to pay out the original ones. The nature of the Ponzi scheme is that at some point it must inevitably collapse. Bitcoin is different in that any investor in the currency can benefit. Bitcoin is not an investment scheme but a rather a decentralised peer-to-peer currency that is useful both as a store of value and as a means of exchange. As Bitcoin rises in value relative to other currencies both early and later adopters benefit.
Myth #3 : There are no benefits to Bitcoin beyond its investment value
This is quite untrue as Bitcoin has a number of advantages over both fiat currencies and gold. Compared to a fiat currency, such as US dollars, Bitcoin is anonymous, faster to transfer, not based on debt, limited in supply, and not controlled by central authority. As a consequence governments cannot simply print more Bitcoins when they want to stimulate the economy.
Because of the dangers of a Fiat currency many people have called for a return to the gold backed system. However Bitcoin has a number of advantages over gold including being easier to secure, verify and to transfer.
Negatives associated with Bitcoin
Most of the negative press that has been associated with Bitcoin has to do with Bitcoin exchange platforms. These are places where but coins can be exchanged for sovereign currencies and other digital currencies. The largest of these exchanges was Mt Gox which was based in Japan. By 2013 it was handling 70% of all Bitcoin transactions.
In February 2014 it suspended trading and close its website. At the time 850,000 Bitcoins which had the equivalent value of US$450 million went missing. Since that time 200,000 of these Bitcoins have been found but the rest remain missing. It’s important to note that the dangers in the system lay with Mt Gox which was insecure and poorly managed, rather than than Bitcoin itself.
It is important that all citizens understand what Bitcoin is and its implications for the economy. As Nobel Peace Prize nominee Leon Louw has noted:
‘Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.’
In a January 2014 poll it was found that only 25% of US adults were familiar with Bitcoin. This means that there is still significant room to educate the general public about the advantages of using a peer-to-peer digital currency. To address some of those knowledge gaps here are some of the most common myths about Bitcoin as well some of its key benefits.
Myth #1: Bitcoin is no different to any other digital currency
There have been many other digital currencies in the past, including Beenz, Liberty Dollars and eGold. However these digital currencies are not the same as Bitcoin. These digital currencies were subject to control by financial regulators, governments and central banks. As a consequence they could only be issued according to the permission of these third parties. These third parties could destroy the currency or impose their own controls. Bitcoin is decentralised and therefore it is not subject to these types of controls.
Myth #2: Bitcoin is a Ponzi scheme
One of the most common attacks on that coin is that it is some type of Ponzi scheme. A Ponzi scheme uses funds from new investors in order to pay out the original ones. The nature of the Ponzi scheme is that at some point it must inevitably collapse. Bitcoin is different in that any investor in the currency can benefit. Bitcoin is not an investment scheme but a rather a decentralised peer-to-peer currency that is useful both as a store of value and as a means of exchange. As Bitcoin rises in value relative to other currencies both early and later adopters benefit.
Myth #3 : There are no benefits to Bitcoin beyond its investment value
This is quite untrue as Bitcoin has a number of advantages over both fiat currencies and gold. Compared to a fiat currency, such as US dollars, Bitcoin is anonymous, faster to transfer, not based on debt, limited in supply, and not controlled by central authority. As a consequence governments cannot simply print more Bitcoins when they want to stimulate the economy.
Because of the dangers of a Fiat currency many people have called for a return to the gold backed system. However Bitcoin has a number of advantages over gold including being easier to secure, verify and to transfer.
Negatives associated with Bitcoin
Most of the negative press that has been associated with Bitcoin has to do with Bitcoin exchange platforms. These are places where but coins can be exchanged for sovereign currencies and other digital currencies. The largest of these exchanges was Mt Gox which was based in Japan. By 2013 it was handling 70% of all Bitcoin transactions.
In February 2014 it suspended trading and close its website. At the time 850,000 Bitcoins which had the equivalent value of US$450 million went missing. Since that time 200,000 of these Bitcoins have been found but the rest remain missing. It’s important to note that the dangers in the system lay with Mt Gox which was insecure and poorly managed, rather than than Bitcoin itself.
It is important that all citizens understand what Bitcoin is and its implications for the economy. As Nobel Peace Prize nominee Leon Louw has noted:
‘Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.’
Source : http://bitcoinmagazine.com
SWIFT Institute Offers €15,000 for Bitcoin Research Project
The
SWIFT Institute has announced it is launching a new research programme
on digital currencies, with a €15,000 grant on offer for the author of
the winning proposal.
The institute is looking for research on recent developments in
digital currencies and cryptocurrencies, but places an emphasis on
bitcoin, which it describes as “arguably the most popular” digital
currency.
“With bitcoin’s increasing usage, virtual currencies are becoming
more of a reality. There are bitcoin ATMs in more than 10 countries
worldwide, and the currency is increasingly accepted by mainstream
retailers,” the SWIFT Institute says, in a call for proposals titled, ‘Virtual Currencies: What are the “real” risks?‘.
Peter Ware, director of the SWIFT Institute told CoinDesk:
“It is a very topical area impacting the global financial industry and the world in general, and one that is increasingly discussed at conferences, in the media, at the central bank level, etc. For many people, however, it is not a topic that is fully understood. Through academic research, the SWIFT Institute is aiming to provide some concrete input to the discussion.”
Risks and advantages
In an overview of the subject, the institute points out that there
are an average of 40,000-80,000 bitcoin transactions per day, adding
that the volume is “expected to rise exponentially” as the currency
gains acceptance.
The institute outlines a number of potential potential advantages and
challenges associated with bitcoin and other cryptocurrencies that the
research proposals will need to address:
- What is the net economic impact of virtual currencies?
- Do the lower transaction costs outweigh resources expended in mining?
- What is the relationship between virtual currencies and real money?
- How can banks and virtual currencies cooperate?
- What are the risks involved in using virtual currencies?
- What role can or should regulators and central banks play?
- What are the potential impacts of distributed ledger technologies?
- Would pegging/fixing exchange rates help stabilise virtual currencies?
- How can criminal activity be avoided when using digital currencies?
The document also adds that the research proposals can be either theoretical or empirical in nature.
How to submit a proposal
The institute requires all applicants to submit a CV or biography
with all relevant information about the applicant, who is also required
to submit a 2,500 word description of the research project. The deadline
is August 20th 2014. The SWIFT institute told CoinDesk that it
currently has a handful of proposals, but the institute typically
receives proposals very close to the deadline.
The winning author will receive 50% of the grant immediately, while
the remaining 50% will be paid out when the working paper is submitted.
Once the research is completed, the SWIFT Institute will make it
available to the financial industry and it will be freely available to
anyone who wishes to download it.
The SWIFT Institute is an offshoot of the Society for Worldwide Interbank Financial Telecommunication (SWIFT),
which effectively sets the standards for interbank digital transactions
and currently works with more than 10,500 banks and other banking
organisations.
The institute was founded in 2012 with the goal of researching the
current operations and future needs of the global financial services
system. Part of its job is to award grants to attract more academics to
tackle industry challenges and explore new ideas.
Source : http://www.coindesk.com
BTC China Upgrades Mobile App with New Trading Pairs, Live Charts
BTC
China has upgraded its mobile app, saying it is the first Chinese
exchange to allow users to trade in three trading pairs: BTC/CNY,
LTC/CNY, and LTC/BTC.
The app, ‘Mobile Exchange 2.0′, is cross-platform and HTML5 based,
running in mobile browsers. It now also offers streaming real-time
market data and candlestick charts for the aforementioned currencies, giving traders the ability to monitor market trends anytime and anywhere.
BTC China
is charging 0% trading fees on its web and mobile platforms, with a
0.38% withdrawal fee being its only charge. Users may still have to pay
third-party bank fees to transfer funds into their accounts, however.
Mobile Exchange availability and features
The upgraded app now includes some more familiar smartphone and
tablet gestures such as ‘swipe to edit’ and ‘swipe to cancel’, plus
other features that allow traders to respond quickly to price movements
with minimal navigation. Furthermore, Mobile Exchange 2.0 is available
in 10 languages.
Aimed more at traders, it is a separate entity to the ‘Picasso’ app,
which BTC China calls its ‘wallet and mobile ATM’. Picasso allows
everyday users to track prices and set their own commissions to trade
bitcoin face to face.
Litecoin trading and value
BTC China introduced litecoin trading in March this year. The world’s second-most-popular cryptocurrency, which was the invention of CEO Bobby Lee’s brother Charles, is now traded on several exchanges, but has suffered a price slump lately.
Once tied closely to the price fortunes of bitcoin, litecoin has gone
from a high of around $48 at the same time bitcoin reached its zenith
in late 2013 to around $7.47 on both BTC China and BTC-e today.
The altcoin’s supporters say litecoin’s peaks and troughs are merely a
normal part of a cryptocurrency’s lifecycle, and point out that its
fortunes are still connected to bitcoin’s. Charles Lee himself has described litecoin as being “still in the speculator stage” of its development.
About BTC China
BTC China, which claims to be the world’s oldest bitcoin exchange,
also recently added USD and HKD deposits and withdrawals to its platform
as part of its “plans for aggressive international expansion”. At the
time of bitcoin’s December peak, it was China’s most popular exchange.
At present, the majority of BTC China’s users are still located in
Beijing and Shanghai, although the company said they expect the number
of users from other regions to increase significantly soon.
Founded in 2011, the company raised $5m in Series A funding from Lightspeed China partners in September 2013.
Source : http://www.coindesk.com
CoinTerra Acquires Bitcoin Software Developer Bits of Proof
Bitcoin mining hardware firm CoinTerra has announced the acquisition of enterprise software company Bits of Proof.
Under the terms of the deal, Bits of Proof CEO Tamás Blummer will join CoinTerra,
assuming the position of Vice President of Enterprise Software, while
CoinTerra will gain access to BOP assets, including its
‘enterprise-ready’ implementation of the bitcoin protocol.
Bits of Proof (BOP) is a Hungarian software firm that builds
business-focused solutions based on block-chain technology. Last year
the company launched the BOP Enterprise Bitcoin Server, which it dubbed
the ‘Red Hat for Bitcoin‘.
The BOP protocol has already been used to develop BopShop, a merchant
payment processor for online retailers and traditional brick-and-mortar
shops. The protocol was also used to develop real-time auditable
exchange Bullion Bitcoin and the TREZOR hardware bitcoin wallet.
Piece of the enterprise mining puzzle
CoinTerra says Bits of Proof’s modern and modular implementation of
the bitcoin protocol will provide its TruePeta architecture with
unparalleled reliability, performance and scalability for large-scale
bitcoin mining operations.
“By acquiring Bits of Proof, CoinTerra gains enterprise software
expertise and solutions that complement our expertise in hardware
development and significantly strengthen our offering,” said Ravi
Iyengar, CEO of CoinTerra.
“The software solutions developed by Bits of Proof and the expertise of Tamás Blummer represent an important piece of the enterprise mining puzzle that will allow us to grow our operations quickly and [securely] at peak efficiency.”
“With CoinTerra, the Bits of Proof software stack is sure to become
the industry standard software stack for bitcoin in enterprises,” said
Blummer.
What does this mean for existing BOP products?
The announcement does not shed light on how the news might
affect BOP’s existing products and services. The company currently
offers BopShop, myTREZOR server and Bullion Bitcoin
products. The firm says it has other projects in the pipeline and
believes the bitcoin network will cause fundamental changes in the way
financial services operate.
Prior to the acquisition, Bits of Proof was an independent,
self-funded company based in Budapest, headed by financial services
veterans such as Blummer. It remains to be seen what CoinTerra plans to
do with the BOP software stack and ongoing development projects.
Source : http://www.coindesk.com
