Monthly Archives: October 2014

Convincing banks about Bitcoin is 'challenging'

Posted: October 22, 2014 at 1:46 am

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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International Space Station for Wed, 15th October 2014 – Video

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International Space Station for Wed, 15th October 2014
This is a image taken from the live feed from the International Space Station.

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International Space Station for Wed, 15th October 2014 - Video

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Nighttime in the Space Station Cupola | Fisheye Time-lapse | Video – Video

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Nighttime in the Space Station Cupola | Fisheye Time-lapse | Video
More space news and info at: http://www.coconutsciencelab.com - time-lapse video taken by European Space Agency astronaut Alexander Gerst from the Cupola obs...

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Nighttime in the Space Station Cupola | Fisheye Time-lapse | Video - Video

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Interview with Commander Chris Hadfield, Canada’s first space-walker – Video

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Interview with Commander Chris Hadfield, Canada #39;s first space-walker
Chris Hadfield was the first Canadian Commander of the International Space Station. During his inaugural trip to Australia in 2014, he sat down with Canada Down Under to share why it #39;s important...

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Interview with Commander Chris Hadfield, Canada's first space-walker - Video

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Orbital Cleanup mission 1 – Video

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Orbital Cleanup mission 1
the first of a series of flights i #39;m going to send my shuttle on to clean up the derbies from the trashed space station and first shuttle. Music- Beethoven - Symphony No.7 in A major op.92...

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Orbital Cleanup mission 1 - Video

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Borderlands The Pre Sequel – All Hidden Treasure Chest Locations, HELIOS STATION – Video

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Borderlands The Pre Sequel - All Hidden Treasure Chest Locations, HELIOS STATION
What #39;s up everybody 😀 Today I #39;m going to show you all the hidden treasure chests on HELIOS STATION! Hidden Treasure Chest 1 - 0:00 Hidden Treasure Chest 2 - 0:24 Hidden Treasure Chest 3 -...

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Borderlands The Pre Sequel - All Hidden Treasure Chest Locations, HELIOS STATION - Video

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Borderlands the pre sequel lets play with Lightning afer off the space station in the beginning – Video

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Borderlands the pre sequel lets play with Lightning afer off the space station in the beginning
this is a let #39;s play borderlands the pre-sequel with lightning it is the very first part of the game. Telling you about the mission and showing you how to pass it and all the fun that borderlands...

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Borderlands the pre sequel lets play with Lightning afer off the space station in the beginning - Video

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The International Space Station (ISS) Hoax Exposed – Video

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The International Space Station (ISS) Hoax Exposed

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Alien Isolation Gameplay Walkthrough Part 1 – The Space Station – Closing The Book – Video

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Alien Isolation Gameplay Walkthrough Part 1 - The Space Station - Closing The Book
Alien Isolation Gameplay Walkthrough Part 1 includes Mission 1: Closing the Book and both Commentary and a Review of the game on HD 1080p and Max Graphics Settings. This Alien Isolation ...

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Alien Isolation Gameplay Walkthrough Part 1 - The Space Station - Closing The Book - Video

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StarMade 0.175 Update "Space Station Surprise" – Video

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StarMade 0.175 Update "Space Station Surprise"
On the StarMade website the latest update was accompanied by a suggestion that we check out an abandoned Space Station. StarMade is an open-universe space simulation sandbox game inspired...

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StarMade 0.175 Update "Space Station Surprise" - Video

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