Monthly Archives: May 2014

A year later, Forbes revisits “Living On Bitcoin” series

Posted on 6th May, 2014

In May of 2013, Forbes writer Kashmir Hill spent a week living on bitcoin. Or trying to, at least. With bitcoin still little known outside of tech and black-market circles, and the media attention around the late 2013 price boom still months away, Hill struggled to find merchants who had even heard of bitcoin, never […]

China’s “Big Five” bitcoin exchanges issue joint statement of self-regulation

Posted on 6th May, 2014

Earlier today, China’s five largest bitcoin exchanges released a joint statement on the Twitter-like social-networking site Weibo. The statement acts as both a mea culpa for the ongoing problems in with bitcoin in China, as well as the first public announcement of a move towards self-regulation for the exchanges. The five participating exchanges are OKCoin, […]

Citing central bank pressure, BTC China halts yuan deposits from Bank of China

Posted on 6th May, 2014

After nearly six months of quiet pressure, the long-rumored People’s Bank of China “bitcoin ban” is finally materializing. Earlier today, major Chinese exchange BTC China announced on its Twitter account that it had suspended yuan (RMB) deposits from the Bank of China. This was the second such notice from BTC China, the first being posted […]

Are SMS-based bitcoin transactions the key for emerging markets?

Posted on 5th May, 2014

In many emerging-market countries, most average people are still too poor to afford relatively expensive items like computers and smartphones. Even if they can afford such luxury items, access to reliable internet providers can be just as elusive. In fact, the only piece of modern technology that has significant market penetration in these comparatively poor […]

Fidor Bank integrates with Ripple’s payment protocol

Posted on 5th May, 2014

Currency agnostic crypto-payments system Ripple announced a partnership with Munich-based internet bank Fidor Bank AG today. The San Francisco payment network provider will supply Fidor with support for its cutting-edge payment protocol, which is fully compatible with bitcoin, alt-coins and fiat currencies. Fidor is no stranger to the cryptocurrency community, partnering with virtual currency exchange […]

Australian venture capital firm unveils $30 million bitcoin fund

Posted on 5th May, 2014

Bitcoin’s venture capital pool grew significantly this week with the launch of a US$30 million fund created by Australian financial technology investors Future Capital. The Future Capital Bitcoin Fund (FCBF) will make “equity investments, globally, into companies facilitating payments, exchanges, trading and smart property rights based around the Bitcoin and other digital currency ecosystem.” Although […]

Bitcoin cited in Department of Defense terrorism study

Posted on 5th May, 2014

It’s no secret that the U.S. government views bitcoin and other cryptocurrencies with a healthy dose of skepticism. For all of the technological innovations introduced by bitcoin, it’s difficult for any national security-focused agency to not see future threats in a semi-anonymous form of currency that can move vast amounts of money across the world […]

Wisconsin regulators issue bitcoin warning

Posted on 4th May, 2014

The Wisconsin Department of Financial Institutions issued a warning on virtual currencies last week, adding one more official notice on the topic from state-level authorities in the U.S. The statement offered the now-common warnings about cryptocurrency, namely the current price volatility, the lack of oversight and regulation, the association of virtual currency with criminal enterprises, […]

U.S. bankruptcy bid delays Mt.Gox settlement

Posted on 3rd May, 2014

A proposed plan to revive the shuttered Mt.Gox exchange hit a roadblock today, as presiding Judge Gary Feinerman opted to delay further deliberation on the matter until May 13th. The delay was requested by Mt.Gox’s defense team, arguing that such a settlement would unfairly hinder CEO Mark Karpeles and parent company Tibanne KK in other […]

Report: Bank of Canada not worried bitcoin will replace cash

Posted on 2nd May, 2014

Speaking with The Canadian Press, outgoing Bank of Canada second-in-command Tiff Macklem said that his organization isn’t worried about the impact of bitcoin on the banking sector. According to Macklem, bitcoin’s innovations and implications for monetary policy are speculative, and “far into the future.” Given the tiny global market cap, and immature ecosystem, Macklem says […]