Venture capitalist Tim Draper wins Silk Road $19m bitcoin auction July 2, 2014 Venture capitalist Tim Draper has been revealed as the winner of last Friday’s auction of 30,000 bitcoins, worth $19m (£11m), which were seized by US Marshals from the operators of the Silk Road, an online marketplace allegedly used for sales of illegal drugs and money-laundering. Reuters reported that Draper saw off 45 other bidders, who [...]
Bitcoin media coverage distracting from its true potential says Deloitte July 1, 2014 Overzealous media coverage of the controversial aspects of Bitcoin, such as criminal activity, price volatility and exchange collapses could be distracting governments and private businesses from the long-term potential of the cryptocurrency, according to a new report from Deloitte University Press. The report highlights the evolutionary nature of Bitcoin and its potential to be much [...]
Bitcoin now legal alternative to US dollar in California June 30, 2014 The governor of California has signed assembly bill 129, which gives Bitcoin and other digital currencies the status of legal money. Jerry Brown's signature has finally clarified Bitcoin as valid form of payment in the golden state after AB-129 was passed in February by the California Senate Banking and Financial Institutions Committee by a 7-1 [...]
Blockchain breaks new ground with DNA wallet June 27, 2014 The blockchain technology which underpins the network of cryptocurency Bitcoin, is breaking new ground through an Israeli startup called DNA.Bits. DNA.Bits is planning to store genetic and medical data, with genetic information available to researchers. However, privacy will be maintained through the use of private keys to keep a digital DNA Wallet. The new technology [...]
Isle of Bitcoin: Jersey to take on Bali as best place for cryptocurrency June 24, 2014 Jersey is set to take on the tropical island of Bali in a race to become the most attractive jurisdiction for Bitcoin businesses. Campaign group Bit.Coin.Je is hoping to solidify Jersey's reputation as a hospitable regulatory environment. Oscar Darmawan, CEO of Bitcoin Indonesia, recently launched a new initiative called ‘Bitislands’ in the hope of turning [...]
Bitcoin finds new champion in US Congress June 23, 2014 Bitcoin and other cryptocurrencies have had a testy relationship with legislators. Across the world lawmakers have struggled to articulate a coherent response to the rapid rise of digital currencies. Many have been sceptical about their benefits and sometimes have even displayed outright hostility to the emergence of semi-anonymous private monies. However, in the US House [...]
Bitcoin banned by Bolivian central bank as a threat to national currency June 20, 2014 Bitcoin is facing another crackdown from government authorities after the El Banco Central de Bolivia banned any currency that is not issued or regulated by the Bolivian government. The list of cryptocurrencies that were mentioned by name in the Bolivian central bank's directive included Bitcoin, Namecoin, Peercoin, Quark, Primecoin and Feathercoin. The announcement was the [...]
Bitcoin and the future of free market money June 19, 2014 The correct government response to the rise of cryptocurrencies should be to allow free competition on a level playing field, according to a new monograph published by the Institute of Economic Affairs (IEA). New Private Monies: A Bit-Part Player? was launched at the IEA's offices in Westminster with a panel discussion in front of a [...]
Ashton Kutcher has his Bitcoin moment June 17, 2014 Bitcoin security platform BitGo has landed $12m in new funding thanks to a host of venture capitalists, as well as Hollywood A-lister Ashton Kutcher. The series A funding round makes BitGo "one of the most well-funded companies in the Bitcoin ecosystem". Kutcher has sung the praises of the company, saying BitGo is “the best solution [...]
Bitcoin Jesus offers citizenship to libertarian paradise June 16, 2014 Roger Ver, otherwise known as Bitcoin Jesus, has expanded the horizon of what can be bought with the world's favourite cryptocurrency. The self-described libertarian and founder of Passports for Bitcoin is selling the right to live in the Federation of St. Kitts and Nevis in cryptocurrency. Just a three-hour flight away from Miami, the islands [...]