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eBay and PayPal Confirm Upcoming Separation, Support for Bitcoin Payments

Bitcoin Magazine, 1/1/0001 12:00 AM PST

In September 2014, eBay announced plans to separate eBay and PayPal. In a recent SEC filing, eBay confirmed that a newly formed corporation named PayPal Holdings, Inc. (“PayPal”) will take over the businesses that make up eBay’s payments segment. eBay, the existing publicly traded corporation, will continue to operate its marketplaces business. The separation, which will provide current eBay stockholders with equity ownership in both eBay and PayPal, will be effected by means of a pro rata distribution of 100 percent of the outstanding shares of PayPal common stock to holders of eBay common stock. “As two distinct publicly traded corporations, eBay and PayPal will be better positioned to capitalize on significant growth opportunities and focus their resources on their […]

The post eBay and PayPal Confirm Upcoming Separation, Support for Bitcoin Payments appeared first on Bitcoin Magazine.

State of Bitcoin Q1 2015: Record Investment Buoys Ecosystem

CoinDesk, 1/1/0001 12:00 AM PST

CoinDesk is pleased to announce the latest State of Bitcoin report, which focuses on events in the bitcoin ecosystem since the beginning of 2015.

New Grants Announced for Developers Working on Ethereum-based Projects

Bitcoin Magazine, 1/1/0001 12:00 AM PST

If you are a developer who is currently working on an Ethereum-based project, there could now be additional funding available to you. In a recent blog post, the Ethereum Foundation announced ÐΞVgrants (originally named ΞTHgrants): a program intended to support developers who are making significant contributions to the Ethereum ecosystem. According to the announcement, written by grants administrator Wendell Davis, the goals of ÐΞVgrants are threefold: To provide developers interested in contributing to the Ethereum ecosystem the opportunity to spend significant time on their project in order to bring it to completion. To extend the codebase with useful components that are not the main focus of ΞTHDEV, but which would be very valuable to users of Ethereum generally. To increase outreach […]

The post New Grants Announced for Developers Working on Ethereum-based Projects appeared first on Bitcoin Magazine.

XAPO Partners with Online Gaming Company CEVO; Holds $21,000 Giveaway

Bitcoin Magazine, 1/1/0001 12:00 AM PST

Bitcoin company Xapo announced a partnership with e-sports company CEVO and bitcoin-based gaming service Leet to provide a seamless, bitcoin-enabled competitive gaming experience to players. “We believe that gaming presents one of Bitcoin’s most exciting growth opportunities, as fast, inexpensive and secure bitcoin payments have the potential to open the global gaming community to players who lack access to a bank account or credit card,” notes the XAPO announcement. “CEVO users will now be able to earn and challenge their friends for bitcoins across some of the world’s most popular games.” Founded in December of 2004 with the intention to transform competitive online gaming into a professional sport, CEVO (“Cyber Evolution”) hosts free and pay-to-play tournaments across a variety of […]

The post XAPO Partners with Online Gaming Company CEVO; Holds $21,000 Giveaway appeared first on Bitcoin Magazine.

Bitcoin for Freelancers: Popular Billing Service Hiveage Adds Bitcoin

Bitcoin Magazine, 1/1/0001 12:00 AM PST

Operating a small business with Bitcoin just got a bit easier. Online billing service Hiveage has announced its integration with Bitcoin wallet and exchange Coinbase, allowing its 45,000-plus small business and freelance clients around the world to invoice and accept payments in bitcoin. “Bitcoin is quickly becoming a useful way of transferring value, and it’s been highly demanded over the past few months by our users,” says Hiveage founder and CEO, Lankitha Wimalarathna. The company started receiving requests to add bitcoin support in June 2014, citing high transaction fees charged by other payment methods as the main reason. “Many of the customers who wrote to us were already accepting payments in bitcoin,” said Prabhath Sirisena, co-founder and creative director of […]

The post Bitcoin for Freelancers: Popular Billing Service Hiveage Adds Bitcoin appeared first on Bitcoin Magazine.

The 3 Platforms That Will Decentralize The Web

Forbes, 1/1/0001 12:00 AM PST

Bitcoin is going mainstream, and the decentralized platform has tremendous potential to change the way people make payments and transfer money.

Why Billionaire Investor Reid Hoffman Is Betting Big on Bitcoin

Entrepreneur, 1/1/0001 12:00 AM PST

The LinkedIn co-founder's investments in Facebook, Airbnb and Dropbox more than paid off. Will Silicon Valley's 'startup whisperer' be on the money about Bitcoin, too

Why is Bitcoin Price Not Advancing On The PayPal Announcement?

CryptoCoins News, 1/1/0001 12:00 AM PST

We have been following a gradual decline of the Bitcoin price during the past four days and today the announcement came that PayPal merchants can now accept Bitcoin. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using […]

The post Why is Bitcoin Price Not Advancing On The PayPal Announcement? appeared first on CryptoCoinsNews.

Greece's rock star finance minister Yanis Varoufakis is the star of a new film about Bitcoin

Business Insider, 1/1/0001 12:00 AM PST

varoufakis bitcoin

You might think that being the finance minister of one of the world's most economically damaged countries was enough work for anyone, but Greece's Yanis Varoufakis seems to have found time to star in a student's short documentary about Bitcoin.

A news site called Greek Reporter ran an April Fool's joke suggesting Varoufakis would move the country to use the cryptocurrency, but this is definitely real.

The video is called Bitcoin and the Digital Economy and it's by Kostas Mouratidis, a journalism student in Thessaloniki.

The documentary titles him as finance minister of Greece and it seems like it was filmed recently —  but if it was done before late January then he wouldn't have been in office yet, but it was only uploaded on April 9.

Here he is (from 0:45) — there's a transcript of Varoufakis' comments below if you don't want to watch the whole thing:

Varoufakis jumps in at about 0:45, talking about the benefits of Bitcoin:

"There is no need to pay commission, there is no need to pay debt to any banker."

And then he's back in around 3:45:

"Bitcoin's organisation became so that those who use it participate in a community where jointly they follow every Bitcoin's move. In other words, it's like all of us who participate in Bitcoin to be members of the central bank of Bitcoin."

And 4:27

"There is an absolute democracy and those who are in fear of manipulation of money by the banks or the bankers feel involved in a monetary system which is released from these dangers."

And from about 9:18 again, he's talking about the flaws with money as it exists right now:

"Each tool can be used for good and evil purposes. Let us not forget that in Europe the European Central Bank produces the €500 euro banknotes. I do not think that you and I have used them very often. They are the notes that drug dealers especially love. 

What does this mean? Does it mean that the European Central Bank created these notes for drug dealers? The solution of these specific problems needs to be found elsewhere."

Then he's back again after 10:30, being more critical about the cryptocurrency

It will never be able to replace the currencies that are controlled by a central bank. At least it will not be able to do it in a way that can be sustained...

How will the state control these transactions and how will it tax? So it creates major problems on the issue of taxation. To perform under the fantasy that each of us can function as a Robinson Crusoe in our own isolated island, and all together to be in this archipelago consisted of a Polynesia with small islands where everyone is the boss. I think that's a fantasy which ultimately leads to economic crises like the one we have right now.

There's a reasonable question to ask about whether this is the best use of Varoufakis' time, but he's written blogs about Bitcoin a number of times, so it's clearly a pre-existing interest. And to be fair, it's very cool of him to have given an interview to a student for their work. 

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NOW WATCH: You've been doing pull-ups all wrong

Secretive Startup 21 to Sponsor Silicon Valley Bitcoin Job Fair

CoinDesk, 1/1/0001 12:00 AM PST

21 Inc has announced it will be the lead sponsor for the upcoming Bitcoin Job Fair due to take place in Sunnyvale, California.

Jamie Dimon: Silicon Valley startups are coming to eat Wall Street's lunch

Business Insider, 1/1/0001 12:00 AM PST

JP Morgan Chase and Company CEO Jamie Dimon

"Silicon Valley is coming," JPMorgan CEO Jamie Dimon warned in his annual letter to shareholders.

Dimon says startups are coming for Wall Street, innovating and creating efficiency in areas that are important to companies like JPMorgan, particularly in the lending and payments space.

Lending Club, for example, had the largest U.S. tech IPO of 2014. Payments startup Stripe has a multi-billion-dollar valuation and a partnership with Apple Pay. Bitcoin companies and exchanges like 21 and Coinbase are attracting tens of millions of dollars from venture capitalists. And financial planning startup LearnVest just got acquired for $250 million in cash.

"There are hundreds of startups with a lot of brains and money working on various alternatives to traditional banking," Dimon wrote. "The ones you read about most are in the lending business, whereby the firms can lend to individuals and small businesses very quickly and – these entities believe – effectively by using Big Data to enhance credit underwriting. They are very good at reducing the 'pain points' in that they can make loans in minutes, which might take banks weeks. We are going to work hard to make our services as seamless and competitive as theirs. And we also are completely comfortable with partnering where it makes sense."

Dimon also spent a section of his note discussing payment competitors, and he notes that payments are "critical" for JPMorgan. 

"Rest assured, we analyze all of our competitors in excruciating detail – so we can learn what they are doing and develop our own strategies accordingly," Dimon says. 

SEE ALSO: Jamie Dimon: 'There will be another crisis'

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NOW WATCH: Animated map of what Earth would look like if all the ice melted

Rimbit Altcoin – Another Bitcoin Copy Paste. Scam?

CryptoCoins News, 1/1/0001 12:00 AM PST

Rimbit markets itself as the Next Generation in Digital Currency. It tries to sell itself as unique in many ways. It describes itself as making unique and controversial changes to provide the user with best options available. It does indeed have some controversial changes and slightly unique addition. Though not as unique as you might think. […]

The post Rimbit Altcoin – Another Bitcoin Copy Paste. Scam? appeared first on CryptoCoinsNews.

Rimbit Altcoin – Another Bitcoin Copy Paste. Scam?

CryptoCoins News, 1/1/0001 12:00 AM PST

Rimbit markets itself as the Next Generation in Digital Currency. It tries to sell itself as unique in many ways. It describes itself as making unique and controversial changes to provide the user with best options available. It does indeed have some controversial changes and slightly unique addition. Though not as unique as you might think. […]

The post Rimbit Altcoin – Another Bitcoin Copy Paste. Scam? appeared first on CryptoCoinsNews.

JP Morgan CEO: We Can Learn From Technologies Like Bitcoin

CoinDesk, 1/1/0001 12:00 AM PST

Jamie Dimon, chairman and president of JP Morgan Chase, says his bank can learn from disruptive payment systems like bitcoin.

Samsung Researching Bitcoin For Future Uses

CryptoCoins News, 1/1/0001 12:00 AM PST

Samsung, the largest South Korean conglomerate, is not scared off by a consolidating Bitcoin price. Instead, the company, which is headquartered in Samsung Town, Seoul, is forging ahead with research and development in the Bitcoin space, with particular focus on the block chain technology. In conjunction with International Business Machines Corp., Samsung Electronics Co. is […]

The post Samsung Researching Bitcoin For Future Uses appeared first on CryptoCoinsNews.

BREAKING: PayPal Merchants Can Now Accept Bitcoin

CryptoCoins News, 1/1/0001 12:00 AM PST

In a long SEC filing from today, PayPal states that its merchants can now begin accepting Bitcoin. As the original text to the filing reads: A merchant can typically open a standard PayPal account and begin accepting payments through PayPal within a few minutes. Most online or mobile merchants can onboard quickly and are not required to […]

The post BREAKING: PayPal Merchants Can Now Accept Bitcoin appeared first on CryptoCoinsNews.

Mississippi Power Company Suing GAW Miners for $350,000

Bitcoin Magazine, 1/1/0001 12:00 AM PST

According to a court document from the Southern District of Mississippi Court System, Mississippi Power Company (MPC) is suing GAW Miners for upwards of $350,000 for failure to make payment for services provided. On September 29, 2014, the two parties reached an agreement where MPC would provide power to GAW in a unique way that required MPC to “invest in the purchase of certain transformers and incur the cost of installing such transformers.” The court document goes on to explain that this cost was $49,335.20 to install, not including the equipment costs. The document goes on to explain that electric service started on October 15, 2014 and GAW has only made one payment to MPC despite receiving monthly payments from the […]

The post Mississippi Power Company Suing GAW Miners for $350,000 appeared first on Bitcoin Magazine.

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