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Bitcoin News Bites

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  • An investment bank, Needham & Company, has just released a report which states bitcoin’s value is understated by 58% of its current value. Bitcoin’s ostensible value is $412, but should really have a value of $655, according to the report.
  • You can now get bitcoin from an ATM at 17th and Mission Streets in San Francisco. This is now the third bitcoin ATM in the Mission.
  • Bitcoin technology is stirring controversy on Wall Street. Early in March, 2016, the company CVR3 announced the successful completion of a trial in which over 40 of its member banks put blockchain technology to a test. Each member issued, traded and redeemed a fixed-income product.  Although the test results threaten to make current Wall Street trading technology obsolete, Wall Street spokespeople promise they’ll now use the test results to refashion their old technology for better trading performance.
  • After claiming it would no longer accept bitcoin on its Windows Store, Microsoft announced a complete reversal in policy.  The IT giant has offered no explanation as to why it had initially rejected bitcoin as a payment option.
  • The noted email service, FastMail, that offers paid email accounts, has been accepting bitcoin payments through BitPay for customers who choose to upgrade to its premium option.  FastMail’s work in this area has been completely unannounced and has remained under the radar.  The service is used internationally by over 100,000 individuals and organizations.
  • The first Arab bitcoin community has recently formed.  Until now, there has been little discussion in the Arab world about bitcoin.  The primary purpose of the Arab bitcoin community is to understand the idea behind bitcoin and promote discussions about it.  The group will be pushing for adoption of bitcoin throughout the Middle East and North Africa in the coming years.
  • Bovada Sportsbook, the online sports betting platform, now accepts bitcoin.  This action is welcomed by frequent Bovada since it cuts down on transaction fees incurred through depositing or withdrawing funds. Also, the option to be able to pay with bitcoin represents a boon to privacy, a big concern among sports bettors.
  • According to the Financial Times, in the next two weeks, Australian Craig Steven Wright will announce he is Satoshi Nakamoto, the creator of bitcoin. What’s more, Stevens claims he will prove his identity cryptographically.  Wired Magazine had claimed it received information through a link that Nakamoto is actually Stevens.  Apparently, in about two weeks, we’ll find out the truth from Stevens (Nakamoto?) himself.
  • Coinbase CEO Brian Armstrong reports his company is looking into the creating of “killer apps” for widespread bitcoin usage.  Armstrong envisions, among other things, a world in which large populations with cell phones but no access to banking would be able to fill an immense financial gap through bitcoin transactions.
  • In March, 2016, WireX announced the very first two-way bitcoin debit card.  The card also has a function with which a user can buy bitcoin. Users will be able to fund bitcoin accounts from any location by means of a traditional bank transfer and alternative payment methods. This is apparently the first “hybrid” banking operation that links blockchain technology to the traditional banking system.

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