Friday, May 26, 2017

Bitcoin Developments

U.S. Post Office Plans to Integrate and Sell Bitcoin

36,000 Brick and Mortar Locations to “Walk in and Buy Bitcoin” With the recent problems at the major Bitcoin exchanges, buying Bitcoin has become a bit of a problem. That will soon change if the U.S. Postal Service has its way. Bloomberg Television has reported that the USPS is planning to become a brick-and-mortar business where people can walk in off the street and buy Bitcoin. This move, when it comes to pass, will provide a huge boost to the demand and ultimately the value of Bitcoin, as literally hundreds of millions of people will not only be exposed to …continue reading

Wells Fargo Examines Ways to “Offer Bitcoin Related Services”

Largest U.S. Bank by Market Value Takes Steps Into the New Bitcoin Economy In what appears to be a case of “if you can’t beat ‘em, join ‘em,” giant U.S. mega-bank, Wells Fargo, has assembled a team “to examine how it might safely offer Bitcoin-related services or banking arrangements to virtual currency entrepreneurs.” Wells chief executive John Stumpf said that the bank wants to be certain of what Bitcoin is, as well as what it can and cannot do. He fully admitted that his bank wants to remain up to speed with the Bitcoin economy. The Financial Times reports: “Wells …continue reading

Overstock’s First Day of Bitcoin Payments a “Huge Success”

CEO Is “Stunned” It was barely 3 weeks ago that we reported the first major online retailer, Overstock.com, had made the decision to begin accepting Bitcoin as a form of payment. Initial plans called for accepting the virtual currency by the end of the second quarter of 2014. However, those plans were apparently put on the fast track, as yesterday afternoon the CEO of Overstock, Patrick Byrne, tweeted that he was “stunned” by the amount of sales that were made with Bitcoin as the payment on its first full day of implementation. He was ecstatic with the results and proclaimed that …continue reading

World’s First Bitcoin Center Opens in New York City

The Organization Is Located In Manhattan’s Financial District Hundreds of cryptocurrency enthusiasts joined together on New Years Eve to watch the opening of what some people are calling Bitcoin’s very own Wall Street. The institution aims to become an educational hub dedicated to the promotion of the many digital coins out there, as well as an incubator for innovation in this revolutionary financial field. One of the most widely recognized people present at the opening of the center was Congressman Steve Stockman of Texas, who made it known that people could use Bitcoin to donate to his 2014 Senate campaign. …continue reading

Overstock.com To Accept Bitcoin

The First Major Retailer To Do So It was just about one month ago that we ran the story “More Evidence Bitcoin is Going Mainstream.” And indeed, the evidence continues to mount daily. Today we are encouraged to report that the first major U.S. retailer to accept Bitcoin as a form of payment will be Overstock.com. The online retailer is anticipated to have total sales of $1.3 billion in 2013. The CEO, Patrick Bryne, sounded very much like a true Bitcoin enthusiast when he told the Financial Times, “We’re the guys who like gold. We think the monetary base should …continue reading

Bitcoin ATMs Coming To USA

February of 2014 Is Launch Date It was just a few weeks ago that the first Bitcoin ATM that opened in North America. Somewhat surprisingly, the U.S. wasn’t the first to do so. That honor went to Canada. Now, however, there are plans for Bitcoin ATMs to be launched in the USA, as Atlanta Bitcoin is gearing up to do so within the next 60 days. Company found Aaron Williams is planning to install around ten of the machines in the next 12 months. The Atlanta Business Chronicle is reporting: “An Atlanta startup hopes to make buying the white hot …continue reading

Silicon Valley Catches Bitcoin Fever

A Mad Rush To Build A New Digital Finance Industry The Financial Times has published a full length article describing how California’s Silicon Valley has taken a strong interest in the digital finance industry surrounding Bitcoin. Richard Waters, writing from San Francisco, describes multiple venture capital firms taking a stake in the Bitcoin field. FT.com reports: “Silicon Valley is starting to catch Bitcoin fever – though the entrepreneurs and venture capitalists being drawn to the virtual currency claim that the biggest profits will come from using it to build a new digital finance industry rather than just as a vehicle …continue reading

Mobile Phone Company in China Now Accepts Bitcoins

Jiangsu Telecom is 3rd Largest Mobile Network in China A few years ago, about the only thing you could buy using Bitcoin was Alpaca socks. Fast-forward to late 2013, and the number of merchants accepting Bitcoins is beginning to skyrocket. Last week we reported that the largest university in Cyprus began accepting Bitcoin as payment for tuition and other fees. Then we reported that Virgin Mobile founder Richard Branson was a fan of Bitcoin and had accepted the digital currency as payment for a space flight by his company Virgin Galactic. And now we are please to report on another …continue reading

Bitcoin Tops $1,000

Up Nearly 100-to-1 in 12 Months It was a mere 10 days ago that we reported the value of Bitcoin had surpassed the $500 level for the first time. Fast-forward ten days to this morning, and the price of one Bitcoin has surpassed the $1,000 mark. Wired reports on the milestone: “The value of a bitcoin has topped $1,000, a mere 11 months after the fledgling digital currency was worth little more than a $10 bill. As of 7:25 a.m. Pacific time this morning, bitcoins were trading at $1,041 on Mt. Gox, the world’s most prominent bitcoin exchange, a place …continue reading

Virgin Mobile Founder Endorses Bitcoin

The Billionaire Calls Bitcoin “A New Exciting Currency” The Billionaire founder of Virgin Mobile formally endorsed Bitcoin during an interview on CNBC. He described Bitcoin as “a new exciting currency” and tweeted that he would accept Bitcoin as payment for a ride to space provided by his space airline, Virgin Galactic. From CNBC: “Billionaire entrepreneur Sir Richard Branson announced on CNBC’s “Squawk Box” Friday that his commercial space flight venture will accept bitcoin as payment. He called it “a new exciting currency.” Virgin Galactic accepted its first purchase with bitcoin from a flight attendant in Hawaii. Branson—an early bitcoin investor …continue reading

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