cryptocurrency | Rex Silentium

The Economist Asks: Will Bitcoin’s Blockchain Change The World?

By innovate | November 4, 2015 by innovate

Legendary news publication “The Economist” has seen fit to not only acknowledge the innovations of Blockchain’s technology but produce a feature story on it for the current October 31 weekly edition. The cover story’s title is called, “The trust machine – How the technology behind bitcoin could change the world.” Here we go over some excerpts and the basic tenor of the piece. The Economist is one of the Western world’s oldest and most trusted…

How Can We Make Bitcoin Mainstream?

By innovate | November 12, 2014 by innovate

Bitcoin now has PayPal integration and dedicated global banking to go along with its natty logo. Regulators are taking notice of it, and noted retailers are accepting it. If you think bitcoin is mainstream, though, think again. According to an analysis earlier this year, there were only 1.2 million bitcoin addresses holding anything other than dust as of February. Even its advocates admit that it has a long way to go. Curtis Fenimore’s attempt to…

‘Bitcoin is Better than Currency’ – Bill Gates

By innovate | October 9, 2014 by innovate

When Bill Gates introduced the Windows® operating system it changed how we use computers forever and made Gates one of the wealthiest men on the planet. But it was also Gate’s unique business model that made Microsoft the powerhouse that it is today. Instead of hiring programmers to write his code he chose mathematicians, physicists and other scientists under the theory that if they were that smart computer programming would be a piece of cake.…

The Bank Of England Just Said It Thinks Bitcoin Could Be Huge

By innovate | September 11, 2014 by innovate

The Bank of England has devoted two papers to the rise of digital currencies. It’s another demonstration of Bitcoin’s transformation from niche cyber-libertarian intrigue to a subject of mainstream interest. More significantly, the Bank suggests that the key innovation is not the digital currency itself — which is subject to wild fluctuations — but the “distributed ledger,” which tracks Bitcoin transactions. That ledger has the potential to revolutionize the financial system, the bank argues. Although…

EBay’s PayPal Unit to Start Accepting Bitcoin Payments – Bloomberg

By innovate | September 9, 2014September 10, 2014 by innovate

EBay Inc. EBAY’s PayPal service will start accepting bitcoins, opening up the world’s second-biggest Internet payment network to virtual currency transactions.“We’re announcing PayPal’s first foray into bitcoin,” Bill Ready, the chief of EBay’s Braintree unit, said at Techcrunch’s Disrupt SF conference yesterday. “Over the coming months we’ll allow our merchants to accept bitcoin. On the consumer side it will be a sleek experience.” EBay, as the world’s biggest Web marketplace and operator of a global…

More Companies Are Paying Employees in Bitcoin

By innovate | September 7, 2014 by innovate

Wagepoint makes it as easy as possible for companies to make payments in cryptocurrency. Customers don’t have to handle bitcoin at all. Instead, Wagepoint takes its fiat currency and handles the convergence for them.In Canada, it uses CA Virtex for the exchange. In the US, its deal with Buttercoin now has $1.3m in funding from people including Reddit co-founder Alexis Ohanian. Buttercoin is still in stealth mode.Perhaps predictably, tech firms are at the front of…

Bitcoin And The Appeal Of Virtual Currencies

By innovate | September 5, 2014 by innovate

Catherine Martin Christopher, assistant professor at Texas Tech University School of Law, studied Bitcoin. It is a virtual currency generated on the internet using mathematical algorithms. Participants can obtain bitcoins by solving math problems from home to generate them or purchasing them using dollars or other government backed currency in a virtual exchange. Using Bitcoin can help people to: Speculate and benefit Keep identity private Trust system of bitcoin generation Preserve spending power Bitcoin as…

DigitalTangible Launches Crypto 2.0-Powered Gold and Bitcoin Market

By innovate | September 4, 2014 by innovate

DigitalTangible has announced the formal launch of its crypto 2.0-powered, decentralized marketplace for gold and bitcoin traders.While existing services allow bitcoin users to buy gold with bitcoin, DigitalTangible offers a novel innovation for the market, using an underlying crypto 2.0 protocol that issues tokens representing physical gold and attaches them to bitcoin addresses, thereby allowing traders to seamlessly move between bitcoin and gold. DigitalTangible counts two of the more visible gold-buying services that cater to…

What Gave Bitcoin Its Value?

By innovate | August 30, 2014 by innovate

Many people who have never used bitcoin look at it with confusion. Why does this magic Internet money have any value at all? It’s just some computer thing that someone made up. Consider the criticism of goldbugs, who have, for decades, pushed the idea that sound money must be backed by something real, hard, and independently valuable. Bitcoin doesn’t qualify, right? Maybe it does. Let’s take a closer look…. But Mises added that the value…

If Bitcoin Continues Growing, It Could Be Considered Legal Tender in Australia, Official Says

By innovate | August 29, 2014 by innovate

While most governments today will scoff at the idea of considering bitcoin to be legal tender, Australia is closely monitoring developments in the growth of this digital currency. And while they share the sentiments of other world governments in that bitcoin is not legal tender, they aren’t nailing shut the door on the possibility that it could happen in the future. via If Bitcoin Continues Growing, It Could Be Considered Legal Tender in Australia, Official…