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David Smith

David is on track to retire in two years from investing in bitcoins. David wants to help you understand the once in a lifetime opportunity this digital currency revolution provides. The digital...

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Regulation, New Investments And Big Numbers Highlight Bitcoin's Week

This week’s news stories contained lots of regulation, new investments and big numbers.

New York’s BItLicense Discussions Continue

Coindesk published an extensive interview with many bitcoin industry leaders like Erik Voorhees, Perianne Boring, Roger Ver, Adam Draper, Michael Terpin and Halsey Minor. The piece contains thoughtful comments discussing why the proposed regulations won’t achieve their stated goals and why the regulations will hurt New York financial service customers and businesses.

Bitcoin Startup Circle Intends to Block New Yorkers If Proposal Goes Through

Circle CEO Jeremy Allaire announced the company intends to block New Yorkers from accessing their service if the proposed BitLicense regulations are enacted. The announcement states the proposed regulations will limit industry participants, push businesses offshore and be technically impossible to comply with.

Related Link: Why Bitcoin's Growth Should Explode

Allaire said he believes New York’s Department of Financial Services will modify the proposed regulations to help rather than hinder digital currency industry development in New York and the rest of the world.

Consumer Financial Protection Bureau Issues Bitcoin Guidance

The Consumer Financial Protection Bureau released a consumer advisory regarding bitcoin. The advisory discusses risks like hackers, lack of legal protection and scams. It also advises consumers there may be large price fluctuations with bitcoin, and that digital currencies are new and not anonymous.

$12 Billion eBay Subsidiary Negotiating Bitcoin

The Wall Street Journal reported Braintree, an eBay subsidiary, is in talks to accept bitcoin. The report states Braintree is negotiating with bitcoin payment processors like Coinbase.

Braintree, as of last year, was processing over $12 billion annually. Their customers include AirBnb, Uber and Github.

$250,000 Investment In Peer-To-Peer Lender Bitbond

Forbes reported VC Point Nine Capital led a $250,000 seed-round investment. Bitbond is based in Berlin. Like BTC Jam and BitLendingClub, Bitbond provides a peer-to-peer marketplace for small loans.

Argentinians Can Buy Bitcoin At 8,000 Convenience Stores

Coindesk reported Argentina’s citizens can buy bitcoin with pesos at convenience stores around the country. The system is called Ripio and is owned by payment processor BitPagos.

Blockchain.info Has More Than 2 Million Users

NEWSBTC reported online wallet provider Blockchain.info has more than two million users. Since a huge surge last November when bitcoin’s price increased dramatically, Blockchain has seen fairly constant growth.

Disclosure: At the time of this writing, David Smith has a long bitcoin position and owns So What’s Bitcoin?

Tags: Bitbond Bitcoin bitcoin weekly recap Circle

Posted in: Tech