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Breaking: Facebook Tests Bitcoin Payments on Advertising Platform

facebook

We’ve heard about large companies, like Overstock.com and Netflix, testing bitcoin integration, but now one of the largest internet based companies in the world – Facebook?

Global companies like Facebook are a perfect match for digital currencies. They go through expensive red tape all the time trying to convert fiat currencies from on to another. Bitcoin will allow them to accept instant payments from any country, at any time, for any value. This news alone will be boosting price to new levels, let alone when its integrated and live.

Continue reading →

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A Wall Street Analyst Has Identified The Winners And Losers In The Rise Of Bitcoin

winners-bitcoinBitcoin continues to persevere through anything and everythingthrown at it: fraud schemes, thefts, rulings from the People’s Bank of China, etc.

Prices have now recovered to more than $800 on the Mt. Gox exchange after falling below $500 late last year.

So we are not totally surprised to see increasing coverage of the cryptocurrency by Wall Street analysts.

In a new note to clients, Wedbush analyst Gil Luria lays out which companies Bitcoin and/or cryptocurrencies in general could boost, and destroy.

“We believe Bitcoin and its associated technology represent a potential disruption to our covered companies,” wrote Lauria. “Furthermore, we believe Bitcoin’s potential lies beyond the ‘coin’ as the underlying blockchain protocol can be used to replace traditional intermediaries by acting as an exchange mechanism for a multitude of transactions.”

Check out the winners and losers at the rest of the article, here:  http://www.businessinsider.com/winners-and-losers-in-bitcoin-2014-1#ixzz2pNYoZZXv

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Price Discovery in the Absence of Bitcoin Exchanges

Recently, authorities in India, China, Korea, Denmark, France, and Norway have issued stern warnings regarding the use and trade of bitcoin and other digital currencies.

As a consequence, important exchange outlets for price discovery have been slowed or shuttered following the government advisories. Furthermore, India and China represent nearly half of the globe’s total population.

The world has mostly underestimated the latent demand for a free and nonpolitical currency unit. In the face of this percolating demand, the arrogance of our monetary overlords is startling.

Rest of the article here.

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Bitcoin is not backed by anything

bitcoin_logoThis is a common objection I hear when people are trying to find reasons not to jump into bitcoin, or claim bitcoin can’t succeed.

Besides the statement that “bitcoin is not backed by anything” being untrue, lets not even go there for a second.

Why does it need to be backed by something like a government or commodity?

Only a currency that holds no value in of itself needs to be backed by something of value.

Does gold or silver have a backer? No, and they have been the longest standing form of money in history. Gold is not created by government decree nor can it be created out of thin air. Gold has value because it is a finite resource that has all the qualities of being “money”.

The same goes for Bitcoin. You can see in this video that bitcoin can even outperform gold in todays digital age.  Continue reading →

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Leigh Drogen – Why I Bought One Bitcoin

bitcoin-phys3I recently noticed Mr. Drogens site has been down due to all the traffic its getting. So, I wanted to repost his article so no one misses out on reading, what I think to be, a really great piece on Bitcoin.

Why I Bought One Bitcoin
Posted by Leigh Drogen on November 16th, 2013

A few months ago, after the first so called “crash” of Bitcoin, I bought one. I bought one Bitcoin primarily because I wanted to have a hands on understanding of how the thing worked. People are inherently afraid of what they don’t understand, and when you mix money with math and technology, three things very few people understand individually let alone all together, it’s bound to scare the crap out of just about everyone.  Continue reading →

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It’s Back; Clearly Canadian Fan-Sourced and Taking Bitcoin!

The ubiquitous soda of the 1980’s and 1990’s is giving it another shot and asks for fan support, even from the Bitcoin community.

clearly-canadian-bitcoin(Richmond Hill, ON) Dec. 20, 2013, – Clearly Canadian, in keeping with the ever evolving digital age, is opening up its coming online pre-sales campaign to the global bitcoin community. “Online virtual currencies are clearly here to stay – no pun intended”, according to Mitch Callahan, Clearly Canadian’s Bitcoin Campaign Manager. “Just as Clearly Canadian pioneered the new age beverage industry in the ‘80s and ‘90s…bitcoin, in a much more profound way, is poised to change how we all transact business on a global scale. Clearly Canadian finds that truly exciting and we are proud to be a new emerging member of the bitcoin community.” Continue reading →

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Singapore Regulators Will Not Interfere With Bitcoin

bitcoin sunAs reported on CoinDesk, Singapore has taken a hands off approach when considering regulations on the Digital Currency, Bitcoin. This adds them to the short list of open and unregulated countries supporting bitcoin like Japan and Germany.

At a time when many central banks and regulators are issuing bitcoin warnings and taking steps to limit bitcoin-related trades, Singapore’s central bank has decided to steer clear of bitcoin, for now at least.

The Monetary Authority of Singapore(MAS) told Singapore-based trading platform Coin Republic that it will not interfere with bitcoin adoption. The authority said: “Whether or not businesses accept bitcoins in exchange for their goods and services is a commercial decision in which MAS does not intervene.”

Full Article Here.

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Two new global exchanges; welcome Indonesia and India

unocoinIndia’s adoption of bitcoin has been largely anticipated by the bitcoin community after seeing China’s recent push for the most popular digital currency. With over a billion citizens, India has just launched their own exchange Unocoin.com, which now services the 2nd most populated nation in the world.

Meanwhile Bitcoin Indonesia, which can be found at bitcoin.co.id, is now exchanging their fiat currency, Rupee, for bitcoins. This article has more:

“The advantage of bitcoin compared to conventional currency is that bitcoins do not experience inflation,”  [Oscar said, co-founder of Indonesian bitcoin trading website] . “The condition of a country sometimes makes its central bank print more currency, but it bitcoin, inflation is unlikely because the amount is fixed.” Continue reading →

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FIRST GAS STATION IN NATION TO ACCEPT BITCOINS

Adding to the long list of everyday things you can use bitcoin for, Greeley Convenience Store in CO gets the award for 1st gas station accepting the worlds most popular all digital currency.

cosmic-marketGreeley, CO – The Cosmic Market located at 2730 23rd Avenue, Greeley, Colorado today becomes the first Gas Station/Convenience Store to start accepting BITCOINS as payment. Using Coinbase for a bitcoin wallet and through the use of Coinbase API, the owner was able to create a simple to use bitcoin acceptance terminal that is simple to use for cashiers.

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THE BITCOIN CENTRAL BANK’S PERFECT MONETARY POLICY

Bitcoin has a central bank called the “Bitcoin network,” which we will refer to as the Bitcoin Central Bank (BCB). This central bank issues a currency called “bitcoins” and processes the transfer of bitcoins between accounts. The BCB’s rule-based monetary policy was set at its creation and its independence is secured by the distributed nature of the underlying network. […]

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Max Keiser talks about the Altcoin Quark with Bill Still

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss factory-farmed citizen consumers who live in mom’s basement, dragging the economy down with them. They also discuss the monoculture of housing bubbles and high interest rate loans in the workplace. In the second half, Max interviews Bill Still about his conversion to crypto-currencies and what role of the NSA spying scandal played in his decision.

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ACE Hardware Accepts Bitcoin in Hazel Park, MI

An ACE Hardware store in MI just announced they will be accepting Bitcoin, making a helpful place, that much more helpful. My family has long been shoppers of ACE Hardwares around the country, and honestly it’s rather surprising to see such a traditional store add Bitcoin to their list of payment methods.

Show them some love and spend a little BTC at Tony’s Ace Hardware!

ACE hardware accepts bitcoinTony’s Ace Hardware is a hardware store that has been in Hazel Park, Michigan since the 1930s. Shop Tony’s Ace Hardware for cleaning supplies, plumbing materials, paint, and more. Tony’s Ace Hardware proudly serves the Hazel Park, MI community with superb customer service and high quality hardware store products. We accept bitcoin.

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Bitcoin Crashes After China Bans New Deposits; PBOC Gets DDOSed In Retaliation

bitcoin-crash-to-420

Yesterday it was the US Treasury’s Financial Crimes Enforcement Network that tightened its grip on businesses that accept Bitcoin. Today, it is China, where the world’s largest Bitcoin exchange by trading volume, BTCChina announced that he had received word from “above” that his platform would no longer be able to accept renminbi from BTC buyers. “As of right now, we have received notice from our third-party payment company that they will disallow customers from making deposits into our exchange,” Bobby Lee, a former Yahoo developer who co-founded BTCChina this year, told the Financial Times. The result, not surprisingly, is an overnight crash in BTC, which crashed by 50% from $900 two days ago to just $455 hours ago.

Rest of the story here.