Monthly Archives: May 2014

Federal Reserve committee calls bitcoin a “boon” for commerce

Posted on 19th May, 2014

Thus far, the Federal Reserve has had a hands-off approach to bitcoin, regularly citing its lack of jurisdiction over currency-like commodities and non-state backed currencies. But that doesn’t mean the Fed isn’t paying attention to bitcoin’s rapidly growing impact on domestic and global finance. At a meeting of the Fed’s Federal Advisory Council (FAC), the […]

Accounting giant Intuit testing bitcoin payment service

Posted on 19th May, 2014

For small businesses in the U.S., Intuit is easily as trusted a name as Google, Apple or Microsoft. The company has been at the cutting edge of digital accounting and tax preparation since the early ’80s, launching products such as Quicken, QuickBooks, Turbo Tax and Billing Manager. This week, Intuit revealed that it was testing […]

Report: Huobi and OKCoin discuss bitcoin’s future in China

Posted on 19th May, 2014

China’s six-month banking crackdown on bitcoin-related businesses has resulted in huge headaches for the entire cryptocurrency community. Due to the People’s Bank of China strangling of local bitcoin exchanges’ access to the country’s banking system, there is significant doubt about the future of bitcoin in mainland China. Many smaller exchanges, such as FXBTC, have already […]

New open-source bitcoin ATM retails for $999

Posted on 18th May, 2014

Dedicated bitcoin ATMs are at a crossroads. Even counting the first proof-of-concept working prototypes, the entire industry is less than a year old, with most of the “major” manufacturers having only a few dozen units in the field today. While orders are growing rapidly, so are prices. Robocoin and Lamassu are banking on a market […]

Toshiba partners with BitPay for new point-of-sale system

Posted on 17th May, 2014

Japanese electronics giant Toshiba has announced plans to integrate bitcoin payments into their VisualTouch point-of-sale system, partnering with Atlanta-based bitcoin payment processor BitPay. Although not one of the leading brand in the POS industry, VisualTouch is still a relatively popular payment platform. Toshiba claims that the system is used by over 6,000 clients in the […]

Gavin Andresen warns of the dangers of rising bitcoin transaction fees

Posted on 16th May, 2014

Chief Scientist of the Bitcoin Foundation and former lead developer on Bitcoin Core Gavin Andresen warned that transaction fees are likely to rise dramatically in coming months unless incentives are provided to miners. Speaking at Bitcoin2014 today in Amsterdam, Andresen said that steps must be taken to either ramp up the speed of block creation […]

After months of speculation, Circle finally unveils its business model

Posted on 16th May, 2014

In October of last year, tech entrepreneur Jeremy Allaire announced he would soon be launching a new bitcoin-related project called Circle. It was hailed by insiders as one of the biggest developments in the bitcoin to date, launching with over $9 million in venture capital investment. A few months later, another $17 million in VC […]

Report: Is China blocking bitcoin websites?

Posted on 16th May, 2014

BTC China CEO and Bitcoin Foundation board-member elect Bobby Lee thinks China may be blocking bitcoin-related sites. Speaking with CoinDesk today, Lee said that he’s hearing regular reports of users being unable to access websites such as Coinbase, Blockchain and BTC-e in otherwise normal browsing sessions. Lee reports that the “locking of these websites seems […]