bitcoin

Tech

What’s keeping cryptocurrencies from mass adoption?

 Speculators flocked to Bitcoin and many of the alt-coins in hopes of getting in early and making a big exit, but everyday users haven’t warmed to cryptocurrencies. There are many reasons why, but one of the largest barriers to mainstream adoption is the price volatility of cryptocurrencies. So the question is, why do the prices change so much in the first place? It comes down to supply… Read More

Business

The SEC just dashed the Winkelvoss twins’ bitcoin dreams

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The Winklevoss twins lost out on Facebook, and now they’ve lost out on bitcoin. 

The Securities and Exchange Commission on Friday denied an application from brothers Cameron and Tyler Winklevoss — depicted by Armie Hammer in The Social Network — to create an exchange-traded fund for bitcoin. 

An ETF would track the price of bitcoin and make investing in the cryptocurrency more attractive to Wall Street. For weeks ahead of the SEC decision, the price of bitcoin soared on the expectation that major Wall Street interest could be ahead. At one point, one bitcoin was worth more than an ounce of gold.  Read more…

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Business

A New York judge says bitcoin is money, two months after a Florida judge ruled it wasn’t

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The legal debate over bitcoin is getting tricky across state lines. 

Is bitcoin money? A judge in New York on Monday ruled it is

The ruling followed an opposite conclusion in Florida in July. A judge in that state dismissed charges of illegally transmitting and laundering $1,500 in bitcoin on the grounds that bitcoin wasn’t a currency. 

This time around, US District Judge Alison Nathan declined to dismiss charges against  Anthony Murgio for operating an unlicensed bitcoin exchange. Murgio had argued to have his charges dismissed because bitcoins did not qualify as “funds” noted in federal law forbidding unlawful money transmitting, according to ReutersRead more…

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Tech

A kid held up a sign with his Venmo ID on ESPN and thousands of people sent him money

csapcguwyaaqoq_ Each Saturday during the college football season ESPN hosts College GameDay, an pre-game show with a bunch of football experts and hundreds of screaming college kids in the background. Today one of those screaming college kids was Sam Crowder, a student who brilliantly decided to hold up a sign with his Venmo username asking his mom to send him beer money. Cue the Internet, and instead of… Read More

Business

Bitcoin’s blockchain technology just got a big endorsement from the World Economic Forum

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Bitcoin may not change the world on its own, but the technology that runs the virtual currency very well could. 

That’s what the World Economic Forum determined in a report released Friday. The group, best known for its annual meeting in Davos, Switzerland, includes various members of the global financial elite. A wide range of banking, consulting and financial executives from Deloitte, JP Morgan Chase, Deutsche Bank, Barclays and other firms contributed to the yearlong project. 

“Our findings suggest this technology has the potential to ‘live-up to the hype’ and reshape financial services, but requires careful collaboration with other emerging technologies, regulators, incumbents and additional stakeholders to be successful,” the report said.  Read more…

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