Monday, March 17, 2014

U.S. Post Office Plans to Integrate and Sell Bitcoin

36,000 Brick and Mortar Locations to “Walk in and Buy Bitcoin” With the recent problems at the major Bitcoin exchanges, buying Bitcoin has become a bit of a problem. That will soon change if the U.S. Postal Service has its way. Bloomberg Television has reported that the USPS is planning to become a brick-and-mortar business where people can walk in off the street and buy Bitcoin. This move, when it comes to pass, will provide a huge boost to the demand and ultimately the value of Bitcoin, as literally hundreds of millions of people will not only be exposed to …continue reading

Wells Fargo Examines Ways to “Offer Bitcoin Related Services”

: Bitcoin Developments, Bitcoin News: Written by : 01-15-2014

Largest U.S. Bank by Market Value Takes Steps Into the New Bitcoin Economy In what appears to be a case of “if you can’t beat ‘em, join ‘em,” giant U.S. mega-bank, Wells Fargo, has assembled a team “to examine how it might safely offer Bitcoin-related services or banking arrangements to virtual currency entrepreneurs.” Wells chief executive John Stumpf said that the bank wants to be certain of what Bitcoin is, as well as what it can and cannot do. He fully admitted that his bank wants to remain up to speed with the Bitcoin economy. The Financial Times reports: “Wells …continue reading

Overstock’s First Day of Bitcoin Payments a “Huge Success”

: Bitcoin Developments, Bitcoin News: Written by : 01-12-2014

CEO Is “Stunned” It was barely 3 weeks ago that we reported the first major online retailer, Overstock.com, had made the decision to begin accepting Bitcoin as a form of payment. Initial plans called for accepting the virtual currency by the end of the second quarter of 2014. However, those plans were apparently put on the fast track, as yesterday afternoon the CEO of Overstock, Patrick Byrne, tweeted that he was “stunned” by the amount of sales that were made with Bitcoin as the payment on its first full day of implementation. He was ecstatic with the results and proclaimed that …continue reading

World’s First Bitcoin Center Opens in New York City

: Bitcoin Developments, Bitcoin Events, Bitcoin News, Government Regulation: Written by : 01-05-2014

The Organization Is Located In Manhattan’s Financial District Hundreds of cryptocurrency enthusiasts joined together on New Years Eve to watch the opening of what some people are calling Bitcoin’s very own Wall Street. The institution aims to become an educational hub dedicated to the promotion of the many digital coins out there, as well as an incubator for innovation in this revolutionary financial field. One of the most widely recognized people present at the opening of the center was Congressman Steve Stockman of Texas, who made it known that people could use Bitcoin to donate to his 2014 Senate campaign. …continue reading

Overstock.com To Accept Bitcoin

: Bitcoin Developments, Bitcoin News: Written by : 12-20-2013

The First Major Retailer To Do So It was just about one month ago that we ran the story “More Evidence Bitcoin is Going Mainstream.” And indeed, the evidence continues to mount daily. Today we are encouraged to report that the first major U.S. retailer to accept Bitcoin as a form of payment will be Overstock.com. The online retailer is anticipated to have total sales of $1.3 billion in 2013. The CEO, Patrick Bryne, sounded very much like a true Bitcoin enthusiast when he told the Financial Times, “We’re the guys who like gold. We think the monetary base should …continue reading

MSN Money Declares Bitcoin ‘The Hottest Investment for 2014′

: Bitcoin News: Written by : 12-17-2013

Confidently Declares ‘The Virtual Currency Is Here To Stay’ It was just a few short months ago that the mainstream financial media was decidedly anti-Bitcoin. Stories were awash that Bitcoin was merely a bubble like the Tulip Mania – or worse still – that Bitcoin was an illegal Ponzi Scheme. In spite of all the negative press, the Bitcoin phenomenon continued its exponential growth. The mainstream financial media were unable to derail the Bitcoin revolution. Fast forward a few months and reality is forcing the mainstream financial press to concede that “Bitcoin is here to stay,” a statement that we …continue reading

Wall Street to Put ‘Hundreds of Millions’ Into Bitcoin

: Bitcoin News: Written by : 12-15-2013

SecondMarket CEO Anticipates Three Waves Anyone that has followed the Bitcoin exchange rate this years knows that the value of Bitcoin has soared to heights nearly unimaginable just 12 months ago. While critics argue that such a rapid price increase is a sure sign of a bubble, Bitcoin advocates point to the fact that Bitcoin is a paradigm-changing, new technology that is gaining widespread acceptance and adoption. With each passing week, more and more evidence mounts that many financiers on Wall Street are joining the latter camp. Barry Silbert, the founder and chief executive of SecondMarket, an online platform that …continue reading

Bitcoin Is “The Future of Money”

: Bitcoin News: Written by : 12-11-2013

CNN Declares “Bitcoin Is Here To Stay” CNN has just published a surprisingly positive news story about Bitcoin that tells readers “Don’t fight it,” while proclaiming that Bitcoin is the “future of money.” This was the first instance of a major mainstream news outlet reporting accurately on the reasons for Bitcoin’s exponential growth. The caption beneath the headline image stated, “Bitcoin is reshaping the future of digital money and will challenge payments firms such as Visa and Mastercard.” While many people in the Bitcoin community believe this statement to be true, the acknowledgement by CNN is likely to bring a …continue reading

Swiss Parliament Considers Passing a Law Deeming Bitcoin a Currency

: Bitcoin Events, Bitcoin News, Government Regulation: Written by : 12-10-2013

The Goal Is To Eliminate Ambiguities and Increase Legal Certainty Representative Thomas Weibel has introduced a postulate to the Swiss Parliament that seeks to have Bitcoin treated the same as any other foreign currency. If the measure is approved by parliament, it will be submitted to the Federal Council, Switzerland’s principal executive institution. In the event that the Federal Council determines that bitcoin should be treated the same as other foreign currencies, it will then evaluate how to implement the postulate. Coindesk reports: “The Swiss Parliament is considering a postulate that asks for bitcoin to be treated as any other …continue reading

Bitcoin ATMs Coming To USA

: Bitcoin Developments, Bitcoin News: Written by : 12-08-2013

February of 2014 Is Launch Date It was just a few weeks ago that the first Bitcoin ATM that opened in North America. Somewhat surprisingly, the U.S. wasn’t the first to do so. That honor went to Canada. Now, however, there are plans for Bitcoin ATMs to be launched in the USA, as Atlanta Bitcoin is gearing up to do so within the next 60 days. Company found Aaron Williams is planning to install around ten of the machines in the next 12 months. The Atlanta Business Chronicle is reporting: “An Atlanta startup hopes to make buying the white hot …continue reading

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