Monthly Archives: July 2014

Is Snapchat planning on using digital currency as part of its monetization plan?

Posted on 18th July, 2014

TechCrunch reports today that photo-messaging app Snapchat has filed two online trademarks for peer-to-peer payments. Although the filings don’t mention bitcoin or cryptocurrency, they do outline a plan to provide electronic funds transfers in very broad terms. The two trademarks consist of “application software for processing electronic payments” and a system of “electronic transfer of […]

BitPay launches Facebook bitcoin payment app

Posted on 18th July, 2014

One of the holy grails of digital currency is the ability to break down traditional payment barriers. An app that can send bitcoin to almost anyone in the world as easily as sharing a photo could be a complete game-changer for the entire financial sector. While BitPay’s new Facebook app, Get Bits, isn’t quite that, […]

Dell announces Coinbase partnership

Posted on 18th July, 2014

Dell is one of the true giants of the technology world, bringing in nearly $57 billion in revenue last year. It’s a true multinational business behemoth, and could be comfortably mentioned in the same breath as major players like Apple, IBM and Sony. As of today, Dell is also the single largest company to accept […]

CheapAir crosses $1.5 million in bitcoin sales

Posted on 17th July, 2014

Late last year, online discount travel agency CheapAir.com made waves in the bitcoin world when it announced it would begin experimenting with bitcoin. The company’s partnership with Coinbase makes it one of the first major supporters of bitcoin payments, anticipating later moves by TigerDirect, Overstock and Expedia. That early adoption appears has paid off. On […]

Two major South African companies announce bitcoin payment options

Posted on 17th July, 2014

This morning, South African payment processor PayFast announced it would soon offer bitcoin was a payment option for its 30,000 merchant customers. As one of the largest payment companies in Africa, PayFast’s move has given a huge boost to bitcoin’s credibility in the region, where it is still viewed with extreme skepticism by the government […]

After customer backlash, Vault of Satoshi eliminates “selfie” requirement

Posted on 17th July, 2014

In an attempt to halt a flood of fraudulent transactions from the Interac payment system, Canadian digital currency exchange Vault of Satoshi (VoS) announced yesterday that it would be adding another layer to its customer-verification process. The concept was simple: Take a selfie while holding up a hand-written note and a government-issued ID. According to […]

New York Department of Financial Services releases “BitLicense” rules draft

Posted on 17th July, 2014

The New York Department of Financial Services (NYDFN) published the draft version of their regulatory framework for bitcoin and other digital currencies this morning. The “BitLicense” rules are aimed largely at digital currency service providers, such as exchanges and hosted wallet companies, and would effectively exempt any company using a third-party bitcoin payment service from […]

Report: GHash commits to a 40% hashrate cap

Posted on 16th July, 2014

In June, behemoth bitcoin-mining pool GHash.io briefly gained more than half of the total network hashrate, a move that caused many to question just how secure bitcoin’s much-touted decentralized network really was. The situation was a wake-up call for many, as it meant that the long-hypothesized “51% attack” wasn’t as implausible as many experts had […]

Trucoin launches instant bitcoin buying

Posted on 16th July, 2014

One of the biggest complaints about the current bitcoin ecosystem is the awkward, slow process of actually buying BTC. Even when using a mainstream service like Coinbase, bank accounts must be validated, IDs must be confirmed and transactions must use the tedious bank-transfer system. While there have been some innovations, such as bitcoin ATMs, the […]