In recent weeks, we have seen an increased level of interest in Bitcoin in South American countries, such as Argentina. Is this the beginning of a Bitcoin boom in South America, or should we be more realistic? Also read: Chip Chap Lets You Buy Bitcoin From 5,000 Major Retailers South American Governments Wary of Bitcoin South American countries are notorious for their history financial instability. Not only are most countries plagued with hyper-inflationary local currencies such as
Speculation is running wild in the world of Bitcoin and digital currency after Rand Paul announced his tech counsel team members. Among those members are some very important people in the Bitcoin industry, particularly Overstock CEO Patrick Byrne. But what does Rand Paul need a tech counsel for, and what will Byrne’s appointment mean for Bitcoin and digital currency in general? Also read: Rand Paul Accepts Bitcoin for 2016 Campaign Donations Rand Paul: Accepting Bitcoin Donations for Political
Our society is evolving into a cashless economic infrastructure. Several European countries are trying to discourage people from using cash in order to pay for goods and services. That seems only normal, as cash transactions are a hassle when dealing with change amounts. The list of downsides when dealing with cash transactions is rather lengthy, and if Danish government has any say in the matter, Denmark will become completely cash-free in the near future. Also
The world of Bitcoin and digital currency is plagued by regulatory uncertainty across the globe. Several countries are debating on how they should regulate Bitcoin, while other countries are focusing on taxing digital currency. In the United States, regulation depends on which state your business operates in. But the American Bar Association may change all of that in the near future. Also read: Bitcoin Regulation Is Still Far Away For America The Current State of Bitcoin
Deep Web is the untold story of bitcoin, the Silk Road, and the dark corners of the “deep web.” The documentary film offers an exclusive look into the Ulbricht family and the infamous online black market that has become one of the most epic legal battles in the history of bitcoin. Also read: Secret Service and DEA Steal Silk Road Bitcoins and Extort Money From Ulbricht In an attempt to uncover hidden truths behind Silk
The history of Bitcoin is still plagued by the Mt. Gox collapse. After allegedly losing several hundreds of millions of dollars in Bitcoin due to a hack, the exchange was forced to halt its services. A lot of people around the world have been affected by this debacle, and quite a few of them took the matter to court. As a result, it is now possible to file a claim for lost funds, in the hopes of retrieving
In an exclusive interview with Bitcoinist.net, Jim Fulner, the 2014 Libertarian candidate for the U.S. Senate from Michigan, says Bitcoin is, and should continue to be, primarily a currency that stands alone. As a staunch Bitcoin advocate, Fulner said that Bitcoin can facilitate exchange just as efficiently as any other currency. Also read: Rand Paul Vouches for Bitcoin at NY Fundraiser Event Fulner says, “I don’t foresee any time in my life that Bitcoin ceases to
Bitcoin is a popular payment method for thousands of businesses that accept online payments. Bitcoin offers faster transactions, several orders of magnitudes cheaper transaction fees, and most importantly, no risk of chargebacks. Also read: Bitcoin Solutions in Online Gambling — Benefits for Everyone These advantages have led businesses to flock to bitcoin in droves. By opting to use a payment processor to convert their bitcoin revenue to fiat, merchants can even avoid bitcoin’s notorious price volatility.
California’s assembly committee on banking and finance has approved a bill that would regulate cryptocurrencies such as Bitcoin in a similar fashion to New York’s controversial BitLicense. Dubbed AB-1326 Virtual Currency, the legislation is now headed to the appropriations committee before reaching a vote on the assembly floor. Also Read: California Bitcoin Bill May Pose Problems For Startups The bill would make it a crime in California to operate a virtual currency business without first
Article by Kyle Torpey The Bitcoin Foundation has been wrapped up in controversy throughout its entire existence, but the non-profit organization could turn a new leaf with the appointment of Bruce Fenton as the new executive director. Fenton delivered a clear, concise presentation about the future of the Bitcoin Foundation at Inside Bitcoins NYC 2015, and he made some statements that could possibly grab the attention of even the most adamant haters of the foundation. Throughout his talk, Fenton
Here is Bitcoinist’s day 3 coverage of the Inside Bitcoins New York conference! Also read: Inside Bitcoins New York Day 2: Afternoon and Evening Solving Real Business Problems with the Blockchain Peter Kirby, President of Factom, opened day 3 of Inside Bitcoins New York with his lecture on using blockchain technology to solve real business problems. Factom, Kirby’s blockchain project, builds on top of the Bitcoin blockchain — much like how many useful applications are built on top of the
Overstock has filed a prospectus with the SEC (the Securities and Exchange Commission) and asked permission to issue up to $500 million in stock that is controlled by a Bitcoin-like network. The new concept may transform the way the traditional stock market is perceived. However, permission is still awaited from the SEC. Also read: Interview With Overstock CEO, Patrick Byrne The filing to the SEC reads: “We may decide to offer securities as digital securities…the ownership
Considering crypto-currency is a relatively new technology, many are still unfamiliar with it and don’t understand the concept. Consequently, public opinion of Bitcoin is generally viewed with an air of skepticism, from laymen to economists, and met with accusations of being a bubble or a Ponzi scheme. There have even been embellished reports proclaiming “the death of bitcoin” published by various news outlets at different points in time. This kind of criticism has diminished in recent years, as price charts
On April 13, 2015 the Free Republic of Liberland was officially formed by a group of Czech citizens. The newly formed country of Liberland is a three square mile plot of land between Serbia and Croatia. The President of Liberland, Vit Jedlicka, has confirmed that Liberland will not have an official currency nor a printed currency. The country will however, accept all currencies, both bitcoin and other digital currencies. Also Read: Bitcoin House Taiwan: Enjoy a
Australia has been one of the frontrunners in terms of regulating digital currency, which has proven to be a very difficult task if you want to do it properly. At the end of 2014, a decision was made to tax Bitcoin in such a way that a fee would have to be paid when sending funds to pay for goods or services, and another fee would be invoked for providing an intermediary service for customers.
The Chamber of Digital Commerce will host an Anti-Money Laundering (AML) Compliance Bootcamp for Digital Currency in New York City on April 30 – May 1, 2015. On May 2, a separate AML Program Drafting Workshop will be held as well. The bootcamp and workshop are meant to provide education on AML and OFAC compliance specifically for bankers and professionals in the digital currency industry. Also Read: Oliver Janssens and the Bitcoin Foundation’s Woes The Chamber
Singapore-based Interpol Global Complex for Innovation (IGCI) is developing its own cryptocurrency. The purpose of this project is to help personnel gain a first-hand understanding of what cryptocurrency is and how it is being used for cyber crime. The IGCI houses the international police’s first digital crime centre and cybercrime research and development capabilities. Also read: Kaspersky and INTERPOL Say Blockchain is Vulnerable Dr. Madan Mohan Oberoi announced this project, among others, at the “Interpol World” conference
Bitcoin has been caught in the crosshairs of many politicians around the globe, which can be both a curse and a blessing at the same time. Some politicians will openly embrace Bitcoin – or at least as long as it fits their agenda – while others will call Bitcoin “a financial instrument that should be avoided at any cost.” Whether you are into politics or not, the upcoming presidential elections in the United States could
This week on the Bitcoin Taxes series, we will be discussing a quality service that connects professionals in the world of digital currency with clients that have specific needs. The Digital Currency Council (DCC), is a great organization for professionals looking to specialize in a certain area of digital currency and for clients that are seeking specific advice. While it’s probably too late for using the service for reporting this year’s taxable income and capital
Editor’s Note: This article has been modified to correct an error in reporting. Previously, this article said that Jim Fulner was a “libertarian state senate candidate.” Fulner was actually a Libertarian Party candidate for US Senate. We apologize to Mr. Fulner for our mistake. Bitcoin donations have been helping homeless people, Ebola patients, Edward Snowden, and hundreds of other causes. Now, bitcoin will be helping U.S. Senator Rand Paul fund his 2016 presidential campaign. Also Read:
At least three states in the US may soon allow bitcoin to be used to pay taxes. The State of New Hampshire, New York and Utah have been considering introducing a bill that would make this possible. Each of these states have come up with their own slightly different versions on why this could be a great option and what would be the benefits.
Bitcoin company Xapo recently released its second comment letter on New York’s revised BitLicense. Additionally, the company has teamed up with other bitcoin industry leaders in submitting a combined comment letter to provide further feedback on the BitLicense proposal. Also Read: Bitwage Partners With Xapo for New Debit Card Service After BitLicense was introduced by the New York Department of Financial Services (NYDFS) last year, Xapo released its first letter providing its comments. The NYDFS released its
BitFury’s work in both Bitcoin transaction processing (mining) and growing venture capital funding has also come with the growth of the company’s leadership team. Their latest addition is Jason Weinstein Former US Deputy Asst Attorney General. BitFury recently hired Young Sohn, Samsung Electronics, president and chief strategy officer; he also took a position on their strategic advisory board. Also Read: Bitcoin Mining vs. Gold Mining: a Comparison Jason Weinstein has an interesting background with experience