Russia may formally ban bitcoin in 2015

Posted on September 14, 2014

There are few places in the world where bitcoin’s legal status is more unclear than in Russia. In February, the Russian Prosecutor General’s Office said that “money substitutes” such as bitcoin are explicitly illegal. In July, the Bank of Russia (the country’s central bank) said that digital currencies “should not be rejected” and said it […]

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What is Overstock’s “top secret” bitcoin project?

Posted on September 14, 2014

Something very big appears to be in the works at Overstock.com. Details are few, but at least two key facts are known: It’s a “top secret project” requiring a “high degree of discretion,” and it’s very clearly being built with cryptocurrency in mind. According to a series of job postings made on the company’s Careers […]

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Bitcoin Shop management agree to waive salaries for six months amid stock price woes

Posted on September 12, 2014

Digital currency-dedicated e-commerce site Bitcoin Shop seems to be going through quite a rough patch. The website, launched last September as a bitcoin-friendly alternative to Amazon, announced on Wednesday that its entire management team would be waiving a significant portion of their salaries for the next six months. The publicly traded company claims that the […]

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High-profile deal for 1000 U.S. bitcoin ATMs falls through

Posted on September 12, 2014

In July, Germany-based bitcoin ATM maker BitXatm announced a partnership with a Los Angeles-based startup named CryptVision that would bring 1,000 Sumo Pro ATMs to the U.S. and Canada. The deal would have been a windfall for BitXatm, which was still struggling to break into the U.S. market, and would have made CryptVision the largest […]

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Tim Draper’s “pessimistic” 3-year BTC price target is $10,000

Posted on September 12, 2014

In an interview with CoinDesk published today, venture capitalist and Silk Road auction winner Tim Draper had some very bullish things to say about the price of bitcoin. “I guess the markets aren’t seeing what I am seeing,” Draper said. “An entire economy is being rebuilt. I have a price target of $10,000 in three […]

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Commodity Futures Trading Commission approves first bitcoin swap

Posted on September 12, 2014

The bitcoin derivatives market just took a giant step forward. Reuters reports that the Commodity Futures Trading Commission (CFTC), the federal regulatory body responsible for preventing fraud in futures contracts, gave full approval to a new bitcoin-backed swap created by TeraExchange. The new derivative allows clients to lock in a dollar value to their bitcoin […]

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Coincheck aims to bring full-service bitcoin platform to Japan

Posted on September 11, 2014

Is bitcoin finally gaining traction in Japan? Even before the collapse of Mt.Gox, the country has been equal parts skeptical and disinterested in the cryptocurrency concept. In June, the country’s ruling party issued a statement claiming that there was no need to create bitcoin regulation, referring to the Japanese bitcoin industry as a “sprout.” If […]

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Overstock becomes first major company to enable global bitcoin payments

Posted on September 11, 2014

Last month, Overstock.com claimed it was on the verge of adding a bitcoin payment option to their O.co global retail site. After a 10-day delay (the launch was planned for September 1), Overstock quietly enabled the BTC-payment system early this morning. Although Overstock is hardly the first company to accept bitcoin payments from anywhere in […]

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Canadian payroll company Wagepoint extends BTC payments to U.S.

Posted on September 11, 2014

Earlier this month, Ontario-based payroll firm Wagepoint made headlines for becoming one of the first organizations to enable direct bitcoin payments to employees. At the time, Wagepoint’s BTC payroll service was limited to Canada, but according to an interview published by CryptoCoinsNews, the company has expanded the option to their U.S.-based clients. According to the […]

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The Bank of England releases extensive new report on bitcoin’s potential impact in the U.K.

Posted on September 11, 2014

The Bank of England released a pair of cryptocurrency-related articles today, prompting waves of commentary throughout the global financial press. The articles, pre-released from the BoE’s forthcoming Quarterly Bulletin 2014 Q3 report, focus on defining bitcoin’s core innovation — the trustless, distributed ledger better known as the block chain — and on examining the economics […]

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Coinbase announces international expansion, now available in 14 countries

Posted on September 10, 2014

One of the biggest hurdles for would-be international bitcoin users is the lack of an easy-to-use, newcomer-friendly and widely trusted service to buy, sell and store bitcoin with. For the last two years, this hasn’t been much of an issue thanks to the existence of popular bitcoin services provider Coinbase. If only there was some […]

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FBI claims no illegal techniques used in Silk Road case, security experts disagree

Posted on September 10, 2014

On Friday, the FBI released a 58-page filing outlining the various investigation techniques used to unearth the details that ultimately resulted in the closure of online black marketplace Silk Road and the capture of its alleged mastermind, Ross “Dread Pirate Roberts” Ulbricht. The filing, written by FBI agent Christopher Tarbell, was a response to a […]

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U.K. bitcoin ATM operator says £38,000 processed in one month

Posted on September 10, 2014

The Bristol Post reported today that a single bitcoin ATM located in a health food store has processed more than £38,000 ($61,000) in one month of operation, strongly suggesting a growing interest in cryptocurrency in the region. The Superfoods store hosts a two-way bitcoin ATM built by RoboCoin, and managed by regional operator Satoshipoint. The […]

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BTChip releases new smartcard-based USB bitcoin wallet

Posted on September 9, 2014

It sounds like an offline cryptocurrency user’s dream device: A multi-signature enabled, smartcard-based, USB connected hardware wallet able to native support both bitcoin and altcoin wallets. It’s as thin as a credit card, and roughly the size of a house key. And for €20 (roughly $25), it can be yours. The new joint venture from […]

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First bitcoin ATM opens in Argentina

Posted on September 9, 2014

The first public bitcoin ATM in Argentina opened recently in a Buenos Aires suburb. Given that bitcoin ATMs have been popping up like wildflowers all over the globe in the last few months, this might not seem like big news. In a country in the middle of a deep economic crisis and an estimated inflation […]

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BitPay opens new European headquarters in Amsterdam

Posted on September 9, 2014

In a new post on the BitPay blog, the Atlanta-based bitcoin payment processor gave an inside view of their just-finished Amsterdam digs. The company is currently involved in a major push into the rapidly growing European market, having experienced a massive growth spurt in merchant adoption in the last year. BitPay claims to have seen […]

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Satoshi Nakamoto’s email compromised, one hacker possibly identified

Posted on September 9, 2014

Yesterday evening, a person using the email address long associated with mysterious bitcoin creator Satoshi Nakamoto sent the following message to Bitcoin Talk administrator Michael “theymos” Marquardt: “Michael, send me some coins before I hitman you.” Almost immediately, Marquardt took to the Bitcoin Talk forum to warn the bitcoin community that Satoshi Nakamoto’s email had […]

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UPDATE: “PayPal making a move to embrace Bitcoin” says Braintree CEO

Posted on September 8, 2014

The rumors are true: PayPal is integrating bitcoin payments into their One Touch mobile wallet system using technology developed by their subsidiary Braintree. Speaking at TechCrunch Disrupt San Francisco today, Braintree CEO Bill Ready said that the company will soon be integrating bitcoin payments via a partnership with Coinbase. Not hedging his bets, Ready made […]

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OKPay surrenders $6 million in held customer funds to Mt.Gox

Posted on September 8, 2014

Last month, early-adopting bitcoin payment processor OKPay was ordered by a British Virgin Islands court to surrender $6,014,910 in held customer deposits to defunct bitcoin exchange Mt.Gox. OKPay had hoped to return these funds directly to customers, but legal challenges by Mt.Gox’s Trustee Fund have held the funds in a “limbo” within Mt.Gox’s OKPay account […]

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Blockchain.info adds Marco Santori as global policy counsel

Posted on September 8, 2014

The Wall Street Journal reported today that Blockchain.info has retained Marco Santori in a new role as global policy counsel. Santori is well known within the bitcoin industry, and currently serves as the chairman of the Bitcoin Foundation’s regulatory affairs committee. In addition to his legal work for the Bitcoin Foundation, Santori also writes about […]

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Braintree expected to announce Coinbase partnership today

Posted on September 8, 2014

According to tech industry news website Re/code, PayPal subsidiary Braintree will soon announce that it has entered into a bitcoin-payment processing arrangement with Coinbase, possibly as early as today. Braintree’s service is widely used by a variety of tech startups, including openly disruptive, peer-to-peer services like Uber and Airbnb, which are seemingly ideal adopters for […]

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New PayPal video strongly suggests bitcoin adoption on the horizon

Posted on September 8, 2014

This morning, the official PayPal YouTube channel uploaded new video titled “PayPal Voices,” focusing on the increasingly peer-to-peer nature of transactions in an increasingly decentralized economy. But a single line of the video’s text holds huge ramifications for the bitcoin community, as well as the future of digital currency. Roughly eight seconds into the video, […]

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Safello debuts new social media-style bitcoin wallet

Posted on September 7, 2014

Even for experienced users, bitcoin wallets can be a headache. Although QR code readers and BIP-70 integrations have helped sand some of the rougher edges off some modern wallet programs, particularly in the mobile market, bitcoin wallets can still be counterintuitive programs for new users to learn. The first company to make a truly user-friendly […]

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Details emerge on Charlie Shrem’s plea deal

Posted on September 6, 2014

Former BitInstant CEO Charlie Shrem appeared in a New York courtroom on Thursday to formally enter a plea of guilty on charges that he aided and abetted an unlicensed money-transmitting business, processing over $1 million in bitcoin payments for Silk Road vendor Robert “BTCKing” Faiella. The appearance was part of a plea deal with federal […]

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New report says bitcoin ATM industry at risk of “creative destruction”

Posted on September 5, 2014

According to a new report published by the ATM Industry Association (ATMIA), the rapidly growing bitcoin ATM industry is at risk of “creative destruction” unless self-governance structures are soon put in place. The ATMIA’s “position paper” notes that bitcoin ATMs represent a “genuine innovation in the payments space,” and hopes for an eventual “stabilization” of […]

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Mobile-focused payment and security company Alternet Systems enters into partnership with BitPay

Posted on September 5, 2014

Miami-based mobile security and payments company Alternet Systems announced a new partnership agreement with Atlanta-based bitcoin payment processor BitPay. The non-exclusive agreement will allow Alternet’s payment arm, Alternet Payment Systems (APS), to serve as a third-party vendor for BitPay. While affiliate partnerships are nothing new, even for BitPay, the scope of this new arrangement could […]

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Chamber of Digital Commerce to be first recipient of Overstock BTC donation program

Posted on September 5, 2014

In a recent Gigaom profile of Overstock.com’s bitcoin adoption, CEO Patrick Byrne let slip an interesting detail about the company’s plan to donate 4% of BTC sales to a different bitcoin charity or foundation every month. According to the article, the first recipient of the plan will be the newly minted bitcoin political advocacy group […]

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New WordPress plugin hopes to drive e-commerce adoption for PayStand

Posted on September 5, 2014

BitPay’s monopoly on WordPress e-commerce payments may be coming to an end. Recently launched competitor PayStand has been gaining significant attention this week, offering a wide range of payment options including a zero-fee payment option for bitcoin purchases. The plugin, available for popular e-commerce plugin system WooCommerce, may help PayStand gain a foothold in the […]

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iOS reservation app Resy becomes first to integrate Coinbase payments

Posted on September 4, 2014

Resy, a New York-focused mobile-restaurant reservation service, has become the first iOS app provider to fully integrate Coinbase’s OAuth2 protocol, allowing Apple device users to buy directly from their Coinbase wallets. The integration is the first implementation of the Coinbase OAuth2 protocol on an iOS device following Apple’s reversal of a ban on in-app bitcoin […]

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NYU and Duke University offer new bitcoin-focused courses

Posted on September 4, 2014

Is bitcoin’s impact on economic theory already filtering into mainstream academia? Coindesk reports today that two major U.S. colleges — New York University and Duke University — have begun offering bitcoin-focused courses for the new semester. NYU’s class, titled “The Law and Business of Bitcoin and Other Cryptocurrencies,” is taught by Law Professor Geoffrey Miller […]

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MIT campus bookstore to accept bitcoin

Posted on September 4, 2014

An MIT campus bookstore has become the first on-campus store to officially accept bitcoin in anticipation of the coming Bitcoin Project. The Kendall Square bookstore has partnered with Atlanta-based bitcoin payment processor BitPay to accept BTC purchases, allowing students to purchase textbooks and official MIT merchandise. Although there are many stores across the globe that […]

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KnCMiner raised $14 million in new funding round

Posted on September 4, 2014

Stockholm-based bitcoin mining hardware maker KnCMiner announced the results of a new funding round today, adding $14 million to the company’s expansion plans. The Series A round cash will be invested into new hardware designs and software development, as well as funding the company’s ongoing growth in the cloud-based mining sector. The fundraising round was […]

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British hacker pleads guilty to bitcoin ransom scheme

Posted on September 3, 2014

According to a story published by Kent Online, U.K.-based hacker Lewys “sl1nk” Martin stole the account details of 28,000 customers of Halifax Bank, threatening to release the details unless he was paid one bitcoin for every 10 records. Fortunately for Halifax Bank customers, Martin’s scheme didn’t pan out. The 22-year old was captured in February […]

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DigitalTangible partners with Amagi Metals and Agora Commodities to launch new gold-bitcoin exchange

Posted on September 3, 2014

There’s a well-established overlap between the bitcoin marketplace and the market for physical gold. Both communities have a well-founded skepticism of central banks and fiat currency, for instance. With that in mind, it’s hardly surprising that bullion dealers were among the first generation of merchants to realize the potential of bitcoin as a medium of […]

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Xapo: “The BitLicense is over-regulation”

Posted on September 3, 2014

Xapo founder Wences Casares has weighed in on the “BitLicense” regulatory framework proposed by the New York Department of Financial Services (NYDFS), calling it “over-regulation” that “hinders progress and serves an anticompetitive function” for the still-growing bitcoin industry. In a new post on the Xapo blog, Casares said that the regulation will have a “potentially […]

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New partnership brings bitcoin payments to over 10,000 Indonesian convenience stores

Posted on September 3, 2014

A new partnership between Indonesian bitcoin exchange Bitcoin.co.id and the Indomaret convenience store chain is set to bring cryptocurrency payments to over 10,000 new locations in the Southeast Asian country. The new service is powered by payment gateway iPaymu, giving bitcoin transactions a serious credibility boost in the region. Using the new system, Indonesians will […]

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University of Zurich tests student-made bitcoin-payment system in cafeteria

Posted on September 2, 2014

If there’s a single test for whether or not bitcoin is finally ready for mainstream use as a currency, it’s this: Can I buy lunch with it? That scenario is about to be put to a two-week test at Switzerland’s University of Zurich, where a student-built bitcoin payment system is due to be put through […]

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After months of struggle, China’s NiuBTC cryptocurrency exchange closes

Posted on September 2, 2014

The People’s Bank of China’s “bitcoin ban” has finally claimed another victim: cryptocurrency exchange NiuBTC. Back in March, the PBoC began quietly pressuring the country’s banks to close the accounts of digital currency-related businesses in an effort to curb rampant bitcoin and litecoin speculation. The result was a wave of bitcoin and alt-coin exchange closures, […]

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Huobi’s interest-bearing bitcoin deposit service sells out an hour after launch

Posted on September 2, 2014

Within an hour after opening their new Digcoin “hashing power mortgage” product to users, Beijing-based bitcoin exchange Huobi had sold out of all available shares. The interest-bearing Dig-VC mining service, which is arranged to suggest a “certificate of deposit”-style of investment, provides a guaranteed, monthly interest rate of 1.2%. Each share has a minimum 60-day […]

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Apache Software Foundation now accepts bitcoin donations

Posted on September 2, 2014

In a new post on the Apache Software Foundation blog, the massive open-source initiative announced that it is now accepting bitcoin. The ASF said that the decision was made in response to a simple email request from a member on August 26th, with the implementation (by an admittedly expert team of web developers) taking mere […]

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Sound Wallet aims to store private crypto keys as audio files

Posted on September 1, 2014

When most cryptocurrency users think of putting their funds in cold storage, they generally picture using a paper wallet. While that method has its merits, it does suffer from a problem: If a person can see your QR code, private key, or even passphrase seed, they can access your address and your funds. But what […]

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Blockchain.info Chief Security Officer Antonopoulos steps down to become board advisor

Posted on September 1, 2014

Blockchain.info announced yesterday that Chief Security Officer (CSO) Andreas M. Antonopoulos has stepped down from his role, and will now become an advisor to the company’s board. Antonopoulos is widely seen as one of bitcoin’s most passionate advocates, having given countless speeches and presentations about blockchain technology and written a widely praised book on bitcoin […]

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Canadian payroll firm says growing number of companies paying employees in BTC

Posted on September 1, 2014

The Canadian Press reports today that bitcoin-backed salary payments are on the rise in Canada. According to Waterloo, Ontario,-based payroll firm Wagepoint, employees and businesses are increasingly interested in paying out in BTC rather than the Canadian dollar (CAD). The firm launched one of the first cryptocurrency-based payment options in the world last November, but […]

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“Celebgate” photo leaks bring bitcoin back into the pop culture conversation

Posted on September 1, 2014

It’s being called “Celebgate,” and it’s already bringing a new wave of negative attention to bitcoin. Over the weekend, a poster on infamous anonymous image-sharing message board 4Chan.org leaked hundreds of private, nude photos of several female celebrities, including Oscar-winner Jennifer Lawrence, swimsuit model Kate Upton and others. The anonymous 4Chan poster also claimed to […]

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Did a runaway trading bot cause today’s $30 drop?

Posted on August 31, 2014

Automated trading is both a boon and a curse for exchanges of all kinds. On the one hand, “bots” greatly reduce the amount of time and attention needed to implement a trading strategy. A well-programmed bot can, in theory, be earning a profit on even marginal trades, 24-hours a day, and for completely logic-driven reasons […]

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Charlie Shrem reaches plea deal in bitcoin money-laundering case

Posted on August 30, 2014

Charlie Shrem may soon be a free man. Reuters reports that the former BitInstant CEO has reached a plea arrangement with federal prosecutors over his role in converting bitcoin to cash from deals on the now-shuttered black market website Silk Road. Shrem had been charged with a variety of felonies, including conspiracy to launder money, […]

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Publicly traded bitcoin company DigitalBTC claims $4 million in revenue in first quarterly report

Posted on August 29, 2014

Australia’s first publicly traded bitcoin mining and exchange company digitalBTC released a preliminary final yearly report today, revealing an estimated revenue of $4 million U.S. over three months of operations. The company’s normalized earnings were around $2.5 million for the same period, with a profit of about $600,000. Interestingly, digitalBTC actually reported a net loss […]

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Igot launches first bitcoin exchange in the UAE

Posted on August 29, 2014

The first bitcoin exchange in the United Arab Emirates (UAE) opened today, bringing a fully licensed digital currency commercial brokerage to Dubai. The exchange is a branch office of Australia-based bitcoin exchange igot, and is the first stage of a planned expansion into the Middle East and Asia. Although there will be a small staff […]

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China’s Huobi exchange passes proof-of-solvency audit with 103% fund reserves

Posted on August 29, 2014

The final member of China’s “big three” bitcoin exchanges has passed a proof-of-solvency audit with flying colors. In an independent audit published by Ripple Labs CTO Stefan Thomas, Huobi appears to have 103.52% of total customer deposits in reserve. Thomas provided the auditing service free of charge, as he did when auditing Kraken and Bitfinex […]

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Bitcoin pioneer Hal Finney dies at age 58

Posted on August 29, 2014

The very first bitcoin transaction, all the way back in January of 2009, was between the protocol’s mysterious inventor, Satoshi Nakamoto, and an avid programmer and cryptographer named Hal Finney. Hal Finney died yesterday after a five years battle with ALS. He was 58. Finney’s disease robbed him of nearly all control of his body, […]

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Tiny Caribbean nation of Dominica may become a bitcoin-business haven

Posted on August 28, 2014

Could the tiny island nation of Dominica, population 71,293, become the engine for bitcoin adoption on the Caribbean? If Coinapult and its partners have their way, that’s exactly what will happen in the Lesser Antilles tourist hotspot. The bitcoin payment processor will be distributing small amount of bitcoin (the exact amount is unannounced) to the […]

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Simon Fraser University launches bitcoin-donation program

Posted on August 28, 2014

Canada’s Simon Fraser University (SFU) announced a new bitcoin-donation program, making it the first post-secondary school in the country to directly work with digital currency. The program was launched with a BTC donation equivalent to $6,000 CAD from SFU alumnus Scott Nelson and Simon Fraser Bitcoin Club president Mike Yeung. Those initial funds will be […]

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OpenBazaar creators claim system will not become a “Super Silk Road”

Posted on August 28, 2014

There are few bitcoin-focused projects currently generating as much curiosity and buzz as OpenBazaar. Due to enter public beta testing this weekend, the open-source, decentralized marketplace aims to create a completely trustless, uncensored and impossible-to-close hub for trades and deals of all sorts. To many people, this claim instantly evokes one of bitcoin’s biggest PR […]

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BitPay joins Demandware’s LINK Technology platform

Posted on August 28, 2014

Atlanta-based bitcoin payment processor BitPay announced today that it has partnered with e-commerce service provider Demandware to bring simple digital currency integration options to a huge range of online stores. Although individual companies will still need to activate the new BitPay plugin via Demandware’s LINK Technology platform, the move will enable a host of major […]

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New study by Massachusetts Division of Banks reveals 18% of consumers “likely” to use bitcoin

Posted on August 27, 2014

In a new report published by the Massachusetts Division of Banks (MDB) and the Conference of State Bank Supervisors (CSBS), researchers found that 18% consumers in an online survey were either “likely” or “very likely” to use bitcoin or other digital currencies in the near future. The report, 2014 Consumer Survey: Consumer Attitudes on Bitcoin […]

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