Welcome to Bitcoinist weekly News Bits!
Let me summarize the most significant happenings of the bitcoin market.
1. A couple of days before, PayPal gave “Bitcoiners” good news: They accept bitcoin and sign partnerships with BitPay, Coinbase and Gocoin. The first completed project is an integration with PayPal’s Payments Hub, which is their alternative payment platform for digital goods. Customers with a bitcoin wallet will be able to purchase items and other digital content directly with bitcoin. The company made clear that it has always embraced innovation, but always in ways that make payments safer and more reliable for the customers. They hope to do more with Bitcoin as the ecosystem continues its evolution. Read more on Bitcoinist.net.
2. Butterfly Labs one of the very first mining firms, is now in deep trouble as US Goverment is taking legal actions against them. Butterfly Labs was accused of fraud and misrepresentation. The story began with really upset customers who failed to receive their pre paid miners. FTC documents say that the companies’ assets were frozen. It was basically engaging in “unfair or deceptive business practices or affecting commerce”. We have contacted Butterfly Labs to get some information regarding the shut down but they are not making any comments at this time.
3. Inside Bitcoins Conference and Expo will be returning to Las Vegas from 5. To 7. Of October! The conference will focus on how cryptocurrency has been affecting the payments industry, covering a wide range of topics including mainstream adoption, compliance, bitcoin startups, investing, mining, altcoins, equipment, and more.
Featured speakers include:
• Patrick Byrne, CEO of Overstock.com
• Bobby Lee, CEO of BTC China and many more!
If you’re Interested in attending please go to insidebitcoins.com and Enter the code BITCOINIST for 10% OFF. Please find the details on Bitcoinist.net.
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See you in a week.
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