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Category Archives: Bitcoin

Coinbase CEO Brian Armstrong Shares His Vision For The Future Of Bitcoin – Video

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Coinbase CEO Brian Armstrong Shares His Vision For The Future Of Bitcoin
Right after opening its doors to Europe, Coinbase co-founder and CEO Brian Armstrong joined Alex Wilhelm on stage today at TechCrunch Disrupt Europe to discuss the future of bitcoin. Armstrong...

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Coinbase CEO Brian Armstrong Shares His Vision For The Future Of Bitcoin - Video

MadBitcoinsTV — Livestream — #003 — Oct 21, 2014 – #bitcoin #news #live #test – Video

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MadBitcoinsTV -- Livestream -- #003 -- Oct 21, 2014 - #bitcoin #news #live #test
Donate: https://blockchain.info/address/1LAYuQq6f11HccBgbe6bx8DiwKwzuYkPR3 Subscribe: http://patreon.com/madbitcoins Sponsor: http://MadBitcoins.com from Wednesday, January 29, 2014: ...

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MadBitcoinsTV -- Livestream -- #003 -- Oct 21, 2014 - #bitcoin #news #live #test - Video

Bitcoin Weekly 2014 October 22: Gavin Andresen Reddit AMA, Bitcoin community vs. NYDFS BitLicense, and more

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The current trends in the Bitcoin show that while progress is slow, its constantly building momentum. Last week, Andreas Antonopoulos went before the Canadian Senate and gave an amazing 2 hour talk, this week Gavin Andresen went to Reddit and gave amazing answers.

The public comments period for the New York Department of Financial Services (NYDFS) regulatory proposal BitLicense have ended and numerous heavyweights in the Bitcoin community and Internet free-speech have weighed in including BitPay, Coinbase, Reddit, the Internet Archive, and the Electronic Frontier Foundation (EFF).

Gavin Andresen, Chief Scientist at the Bitcoin Foundation, Reddit AMA

Yesterday, Gavin Andresen, notably the best-known Bitcoin Core developer and Chief Scientist at the Bitcoin Foundation, participated in a Reddit AMA (Ask Me Anything). AMAs are a proud tradition on Reddit that allow experts, celebrities, politicians, etc. a chance to speak their mind to a multitude of people and have their thoughts recorded.

As of writing, Andresens AMA has reached 931 comments and he has actively participated in a large number of threads.

When asked what would be needed for Andresen to believe Bitcoin is established, he replied, We need regulatory clarity, ease of use, and no-single-point-of-failure security. The world is still waking up to Bitcoin and its effectsalthough business is slowly tuning inits going to be more regulatory questions like New Yorks infamous Bitlicense.

On the subject of the increasing value of individual Bitcoins (currently at $388) he showed a favor for speaking more often of Bits, or millionths of a Bitcoin. A Bit, as a result, would be $0.000388 approximately, meaning 100 Bits would be about 4 cents.

Apparently, he changed his name from Bell (his birth surname) to Andresen because his wife did not want to be known as Michele Bell.

Overall, reading Andresens responses to questions shows a solid foundation of a programmer who is passionate about Bitcoin. He sounds forthright, thoughtful, and knowledgeable and at the same time extremely sanguine about the future of Bitcoin itself.

If this sparks a readers interest, many could do worse than to peruse the comments in the AMA and pick out Andresens responses. CoinDesk has also picked out what they feel are the 12 best answers from his AMA.

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Bitcoin Weekly 2014 October 22: Gavin Andresen Reddit AMA, Bitcoin community vs. NYDFS BitLicense, and more

Houman Shadab discusses Bitcoin and blockchain derivatives before the CFTC. – Video

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Houman Shadab discusses Bitcoin and blockchain derivatives before the CFTC.
New York Law School professor Houman Shadab discussed the regulatory challenges facing Bitcoin and blockchain derivatives before the U.S. Commodity Futures Trading Commission (CFTC) on ...

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Houman Shadab discusses Bitcoin and blockchain derivatives before the CFTC. - Video

New Bitcoin exchange launches in Sydney

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The Australian Taxation Office ruled in August that Bitcoin, which trades uses mathematical code, is a commodity, not a currency and people who transact using Bitcoins will have to pay goods-and-services tax on the Australian dollar value of the transaction. Photo: Jim Urquhart

The hype around digital currency Bitcoins continues to defy the expectations of investment professionals as another Australian-based exchange opens today, promising to give investors faster trading access than ever before.

Bitcoin company, Independent Reserve, has launched the country's newest exchange, based in Sydney. It is understood there are now two in Australia.

Unlike the two main Australian-based stock exchanges, Independent Reserve is not regulated by the Australian Securities and Investments Commission, which means the company has had to take investor protection into their own hands.

"Price Waterhouse Coppers are auditing all of our finances," said the company's chief executive Adam Tepper.

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"We are trying to mitigate risks to ensure people think their money is safe and secure. We have done everything we could possibly do to minimise risk to our clients," he said.

The Australian Taxation Office ruled in August that Bitcoin, which trades uses mathematical code, is a commodity, not a currency and people who transact using Bitcoins will have to pay goods-and-services tax on the Australian dollar value of the transaction.

Independent Reserve said it will not charge GST on the funds sold through its exchange.

Wild fluctuations in the price of a Bitcoin - which is currently trading at $US380 and was once as high as $US1000 - as well as heightened level of risk and lack of formal regulation are often cited by professional investors as the reasons why they will not invest in the digital currency.

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New Bitcoin exchange launches in Sydney

Convincing banks about Bitcoin is 'challenging'

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People would read about Bitcoin and think how do we buy some. They would Google it and we were the first result, co-founder Brian Armstrong told the Telegraph. We want to make Bitcoin easier to use. We tried to just make it super-simple.

The company claims to have the largest market share of online wallets, 24 per cent - a claim disputed by competitor Blockchain.info, which unlike Coinbase counts each individual wallet as a user, despite many people having more than one.

Coinbase wont release exact figures but Armstrong confirms that it looks after hundreds of millions of dollars worth of Bitcoin.

Originally launched in the US, it recently announced that it had secured banking and regulatory approval to launch in Europe, opening its services up to 18 new markets. But the UK was not among them.

The main hurdles for it to enter a new market are banks and regulation. You cant set up in a country unless Bitcoin payments are legal, and you cant handle business unless you can get a bank account. And they are struggling to get a UK bank account.

Even though many people see Bitcoin as undermining the two institutions of big finance and government, which in a sense it does, it is also beholden to them - at least, it is if you want a legitimate, easy-to-use, commercial payment system.

Getting banks on board is challenging, admits Armstrong, who points out that there are no British lenders currently offering accounts to Bitcoin startups. In other markets it has taken six months of meetings just to get them comfortable.

These banks are usually quite sceptical. Thats a hard, difficult process that involves a lot of meetings, he says. Coinbase hopes to launch on these shores soon. We have to be patient. It could happen in a week or ten years, he adds.

Europes retailers are lagging behind the US with Bitcoin adoption, but Coinbase hopes to grow the number of wallets here over the next six months and using that to convince shops of the benefits of taking crypto-currencies. Thats the same play book it followed in the US.

If our work pays off, itll be happening, says Armstrong.

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Convincing banks about Bitcoin is 'challenging'


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