Industry Report: Dr. Satoshi, BitPay Launches Bitcoin Debit Card
There have been some crazy things happening in the world of digital currency since our previous industry report. Is it possible that the identity of Satoshi Nakamoto has been revealed? Los Angeles is now home to some new Bitcoin ATMs, and BitPay has introduced us to a new kind of credit card. Take a look at some of this week’s headlines below:
Editor’s note: Since press time on this article, news has emerged of Craig Wright backing out from his promise to move coins from early Bitcoin blocks. Additionally, his personal site has been taken down and replaced with a message stating his inability to handle the pressure being placed upon him.
The identity of bitcoin’s mysterious creator has long been an enigma, but a breakthrough may have occurred as early bitcoin entrepreneur Dr. Craig Wright is now claiming to be the alleged mastermind behind everyone’s favorite cryptocurrency.
The Australian businessman came forward to give pressuring media platforms the latest scoop regarding his cryptic “alter-ego,” but not everyone is a believer. According to some, all Dr. Wright has to do to prove himself – which he’s yet to agree to – would be “using a real private key from the genesis block.” In other words, he must sign in via a private key owned by Satoshi himself. The news is apparently causing a strain of panic, and some are considering selling their bitcoins before the news supposedly causes the price to decline rapidly.
Los Angeles is a melting pot. It’s home to numerous cultures, businesses and just about everything else under the sun, but it’s now the proud station of seven new bitcoin ATMs from financial network Coinsource, which has launched several machines in cities ranging from San Diego to San Jose to Las Vegas.
According to CEO and Co-Founder Sheffield Clark, the company is experiencing massive growth, and interest in digital currency is higher than ever before:
“Our entrance into the Los Angeles area is the most important yet for both the Coinsource brand and for bitcoin enthusiasts in Southern California. The roll out of seven new machines in one go was a significant logistical achievement, but we are proud to bring so many more options for both novices and veterans of bitcoin. With more and more use-cases for bitcoin every day, we foresee a future where digital currency is used as commonly as cash or credit cards.”
BitPay has released a bitcoin-based Visa card which allows people to load bitcoin as their amounts run short.
What’s the big news? It can be used at virtually any store or online platform accepting debit card purchases. The card is a multi-faceted form of plastic, only this time, bitcoin’s behind the wheel.
Once purchased, the card arrives within ten days. At press time, the card is only available in the United States.
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Images courtesy of Youtube.com, lafilm.edu, & bitpay.com