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mitch cahn, ReedsWhile not one of the largest merchants serving the bitcoin space, Reeds Jewelers is unique in that it is one of the only major merchants that has taken a multichannel approach to its bitcoin payments program. Launching on 10th June, Reeds now accepts bitcoin payments through a partnership with Coinbase both online via www.Reeds.com and in store at its more than 60 locations across the US. Speaking to CoinDesk, director of marketing and business development Mitch Cahn indicated that the North Carolina company has so far seen bitcoin users spend big both online and in-store, and that average orders completed via both channels have been impressive. Cahn told CoinDesk: “The transaction amount is significantly higher than our average order value, and I think that’s a direct correlation to the fact that a lot of bitcoin owners that are shopping are holding on to a lot of bitcoin.” Cahn declined to provide figures or sales data for either its in-store or online sales supporting this assertion, citing Reeds policy. He went on to suggest, however, that he was pleased with this success metric, especially given the volume of orders Reeds receives from bitcoin customers. The remark is also notable given Reeds’ product selection, which includes many items priced above the $1,000 mark. Mobile POS push While Reeds has been in business for nearly 70 years, Cahn framed the company as friendly to innovation. For example, he noted that the company’s existing point-of-sale technology influenced its ability to accept bitcoin. Far from a complicated process, Cahn reports that integrating bitcoin in his company’s stores was painless. His remarks paint a different portrait from bitcoin’s usual point-of-sale problems, where users report struggling with QR codes and confirmation times. Cahn explained: “We have a lot of mobile POS solutions in our stores. So, whereas in other stores there might be one fixed point of sale, we then have three to four mobile versions around the store with iPads and sleds.” Cahn said that, because this existing technology was in place, adding bitcoin just meant adding another app to its existing software and training its employees to use this new part of the service. Entering the conversation Cahn also spoke to CoinDesk about his recent trip to the Cryptolina Bitcoin Expo, held in downtown Raleigh from 15th–16th August. There, Cahn, as well as Reeds Jewelers digital strategist Bradley Zimmer, addressed the conference crowd, sharing the company’s story. Cahn noted that he had a positive experience with the community, and that he was interested to hear the experiences of other merchants who had been accepting bitcoin. Further, he suggested that he left the conference with the impression that the future is bright for bitcoin users, and that the number of merchants serving the ecosystem is likely to expand. “I don’t know how quick it’s going to happen, but you’ve got to start somewhere,” he added. No future bitcoin plans Throughout the interview, Cahn talked confidently about both bitcoin and the wider digital currency community. However, at present, he said Reeds has no plans to build on its existing bitcoin payments program. Cahn said Reeds isn’t ruling out one day accepting altcoins, but notes that his company doesn’t want to make any promises about adding such services at this time. Rather, he framed bitcoin as just one of the ways Reeds is able to serve new customer segments that grow its business, comparable to its jewelry repair or diamond buying options. Still, Cahn said he would encourage other merchants to consider bitcoin as a payment option, concluding: “If I was speaking to other people in the marketing world or the retail world, I would say it was a good thing.” Images via Reeds Jewelers POSREEDS
Original author: Pete Rizzo

Aug 26 - flickr nicmcphee miner
Bitcoin’s price is poised for “acute instability” due to an oversupply of coins from miners and large merchants, along with a weak growth in demand, according to a new research note from financial giant Citi. The Citi analysis points to the increased sophistication and cost of mining as a major driver for growth in bitcoin supply. As mining costs rise, miners come under pressure to sell their freshly unearthed bitcoin to recoup the costs of their investment in equipment. Citi notes that about 3,500 BTC are mined daily, against a backdrop of 60,000–10,000 BTC in daily trading volume in recent months. The research note says: “If the miners are a steady source of supply and there is no increase in final demand, we have this overhang of bitcoin being sold in the market. In consequence, we have downward price pressures.” Merchants add downwards pressure Citi also arrives at a counter-intuitive conclusion about prominent merchants embracing bitcoin payments. Moves by firms like Dell and Expedia to accept bitcoin for laptops or for hotel bookings are generally viewed with enthusiasm by the bitcoin faithful. However, Citi points out that the merchants are converting any bitcoin they receive from customers into fiat immediately, putting further selling pressure on the bitcoin price. “For corporations to receive bitcoin and hold it would be an aberration.” Additionally, Citi points out that accounting rules may prevent large corporations from holding bitcoin even if they wanted to. Under the generally accepted accounting principles (GAAP), corporations may not be able to count bitcoin holdings as a hedge against currency risk due to the volatile nature of the digital currency. They may instead have to count bitcoin assets as a speculative position, which would increase their risk profile. In other words, large merchants can’t be relied on to drive bitcoin demand, nor are they long-term holders of the digital currency. “For corporations to receive bitcoin and hold it would be an aberration,” the Citi note said. Weak consumer demand With bitcoin supply growing from miner and merchant sales, demand for the digital currency has to be taken up by consumers. Citi, however, doesn’t see this happening. According to the bank, bitcoin’s potential to provide benefits to the man on the street hasn’t been realised yet. As a result, there are currently few incentives for end-users to use bitcoin instead of a credit card, for example. Bitcoin demand is currently buoyed by users who spend the digital currency “for love, not money”, the note says. However, evidence from the market suggests that there isn’t enough love to keep the bitcoin price from declining: “Consumers who do use bitcoin [...] are doing it for love, not money. And the flat transactions profile suggests that love may not be enough.” Other market observers have also concluded that the overhang of supply from miners and merchants could contribute to bitcoin’s price weakness. Mark Lamb, chief executive at Coinfloor, a London-based bitcoin exchange, said that sell-side pressures have intensified in recent months, with miners and merchants as the most likely traders. “Last year miners were selling a much lower percentage of new bitcoin mined. Nowadays it’s estimated that they’re selling 70–90% of their bitcoin. Merchants coming in are also probably selling quite a bit of their bitcoin. So we’re having this constant sell-side demand,” he said. Big funds aren’t helping For bitcoin investors hoping for a rise in prices, the presence of a planned $200m hedge fund from Global Advisors, based in Jersey, and the $150m Pantera Capital fund is a sign that prices have to rise eventually. The Pantera fund, in particular, only takes long positions on bitcoin, signalling to some that the digital currency still has room to appreciate. Citi’s Steven Englander, who wrote the report and is the bank’s global head of foreign exchange strategy for industrialised economies, doesn’t buy that argument. In response to questions from CoinDesk, he said: “Indications are that [merchant] transactions are flat to falling and investors who bought at higher prices may be cutting rather than adding positions.” Featured image via Nic McPhee / Flickr Citi
Original author: Joon Ian Wong

mobile phone Reaching the millions of unbanked consumers worldwide has long been a goal of the wider bitcoin industry, but to date, it has struggled to gain users outside of more developed countries. Crossing this awareness gap is the driving force behind Piiko, a prepaid mobile phone top-up service that currently serves consumers with select phone plans in more than 100 countries worldwide, including major markets such as the US, China, Brazil and India. Launched in April as the first product from Dubai-based bitcoin startup Umbrellab, Piiko is part of the company’s larger plans to court consumers by allowing them to harness the power of bitcoin for everyday utility purchases. Umbrellab co-founders Tarik Kaddoumi and Sergey Yusupov told CoinDesk: “We started with mobile recharge as there was already a necessity, and the market was ripe in terms of the bitcoin community spending on various services and products worldwide. “The plan is to extend into other services such as TV, Internet providers and other types of utility and bill payments that can be paid online, but are currently not accepting bitcoin,” they explained. umbrellab, foundersUmbrellab co-founders Tarik Kaddoumi and Sergey Yusupov.Overcoming obstacles Despite its founders’ ambitions, Piiko has faced its share of difficulties, which saw the mobile top-up service relaunch just a few weeks ago after a lengthy blackout period. Kaddoumi and Yusupov indicated that a third party had previously acted on its behalf, serving as the formal legal partner to the cellphone service providers it works with. In June, however, Umbrellab decided it was time to forge these relationships directly in a bid to cut costs. With this objective complete, Kaddoumi is optimistic that the service will be able to continue to cater to its already dedicated user base, adding: “We’re hoping the service never goes offline again.” Reddit drives organic growth Umbrellab’s Piiko product has notably been driven by bitcoin’s Reddit community. The co-founders explained that Umbrellab had been silently testing the service without promotion, but that the word quickly got out via the social media site. Yusupov explained: “One person discovered Piiko and mentioned the service on Reddit, which somehow exploded, and suddenly we jumped from less than 50 transactions in beta to hundreds in a matter of two days.” Kaddoumi added that, because of this experience, Umbrellab has continued to engage the bitcoin community on how its service can be improved, taking part in open discussions about improvements and new features. How Piiko works Bitcoin users who come to Piiko’s website start by entering their mobile number. If the mobile number is valid and the carrier is supported, users are then greeted with recharge options denominated in local currency. piiko While simple, Bitfinex’s Josh Rossi provided insight into how the service has made his life easier, telling CoinDesk: “Refilling my phone has been a constant struggle here in Panama, my provider’s online refill option has been ‘under maintenance’ for over two months. Thanks to Piiko, I can now recharge my phone in under 30 seconds, using bitcoin.” Still, Rossi suggested improvements could be made to the service. For example, he noted Piiko users currently need a laptop or a smartphone, and that an SMS bitcoin wallet service could allow more users in less-developed nations to access the service. 100 countries and counting piiko, umbrellab To date, Umbrellab’s founders say Piiko has completed thousands of transactions, a running counter of which can be seen on the service’s homepage. The latest orders board keeps an active list of purchases on the service, as well as the mobile phone provider with which bitcoin was used to fund prepaid accounts. At press time, Bharat Sanchar Nigam Limited, an Indian state-owned telecommunications company serving 117 million customers, and Vietnam’s largest mobile network operator Viettel Group were the more common mentions. Kaddoumi and Yusupov declined to name their partner services, but said that they are always on the lookout for new partnerships. This process, however, has not been without its challenges. Kaddoumi explained: “Sometimes we are unable to find a reliable partner in a particular segment or for a specific provider, which is why not all areas are covered, yet. But this is quickly changing.” Traction over profitability Like other notable projects targeting emerging markets, Umbrellab is not yet attempting to monetize Piiko. As such, while its services vary in cost country-to-country, Umbrellab indicated that this is due to inconsistencies with the fees charged by the mobile services with which it partners. “We do what we can to eliminate fees. In some cases we will have a great partner who enables us to reduce the charges to zero, while still keeping a small margin without charging it to the user,” Kaddoumi said. Still, Kaddoumi and Yusupov report that they see the value in keeping the service active provided it can be helpful to existing bitcoin users in developing countries while attracting new bitcoin users to the ecosystem. Yusupov reiterated Umbrellab’s dedication to the program despite its costs, adding: “We will keep it that way in order to offer users the same rates in bitcoin as they would pay directly. In some countries our prices are not the best in the market, but we’re trying to improve this all the time and will announce every change as we go.” Images via Umbrellab and Shutterstock Middle EastUmbrellab
Original author: Pete Rizzo

UPDATE (26th August 17:45 BST): Newegg’s customer service team is now advising customers that, contrary to its previous statements, Newegg’s advertised discounts were limited promotions. CoinDesk has reached out to the company for more information. canada, newegg Online retail giant Newegg has announced that Canadian customers can now use bitcoin to complete purchases via Newegg.ca. With the expansion, Newegg becomes the second major online retailer to extend bitcoin payments from the US to Canada. TigerDirect previously added bitcoin payments to its Canadian website in July. Newegg chief marketing officer Soren Mills framed the announcement as one that underscores the company’s commitment to bringing new and emerging payment tools to overseas customers, while illustrating the success the program has had in the US. Mills told CoinDesk: “We’re encouraged by the enthusiasm – our US customers have embraced bitcoin as a method of payment and we’re excited to extend that capability to our Canadian customers.” Newegg began accepting bitcoin payments on 1st July, when it announced a partnership with Georgia-based bitcoin merchant processor BitPay. As part of the program, Mills said BitPay will provide Newegg with Canadian dollars for purchases. The Los Angeles-based online retailer earns more than $2.8bn in annual revenue, and was the second billion-dollar merchant to become a BitPay client following TigerDirect. Special discounts launched As part of the promotion, Newegg has extended new deals to both US and Canada-based bitcoin shoppers. The promotions, running from 26th to 27th August in Canada and from 30th August to 1st September in the US, will find Newegg customers receiving discounts for reaching certain purchasing benchmarks. Newegg customers who spend more than $300 will receive $75 off their purchase by buying in bitcoin, while buyers whose orders exceed $500 are eligible for a $150 discount. Mills said that while the savings for consumers are significant, Newegg expects to gain in the long term by fostering support from Canada’s bitcoin consumers. He explained: “These aggressive discounts and customer incentives are an investment we make to generate excitement and drive bitcoin-fueled sales in Canada.” Newegg brings bitcoin abroad In addition to its Canadian website, Newegg notable operates Newegg.cn and Newegg.com.tw, which serve the company’s China and Taiwan-based customers. Though bitcoin payments are not yet available through either, Soren noted that more announcements from Newegg could be forthcoming, adding: “Extending bitcoin acceptance to our Canadian customers is yet another important milestone as we build the company’s international presence.” Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay. Image credit: Dan Breckwoldt / Shutterstock.com CanadaNewegg
Original author: Pete Rizzo

Sierra_Leone1 An alliance of local African free-market pioneers that formed to promote bitcoin’s economic benefits has put its campaign on hold to join the fight against Ebola, the virus currently ravaging parts of West Africa. The Sierra Leone Liberty Group (SLLG) is seeking to raise donations via bitcoin as a demonstration of the digital currency’s efficiency. In doing so, the group hopes to show how a grassroots organization can start to build a bitcoin ecosystem with limited resources. The world’s worst-ever outbreak of Ebola began to spread through Sierra Leone, Guinea and Liberia in March of this year, and has since caused over 1,400 deaths, according to The Guardian. All three countries are currently under a state of emergency with closed borders, major events canceled and whole regions quarantined. Treatments for Ebola are still experimental and none are in widespread use, so prevention is the only option available. The situation highlights the very real problems Africa must confront before it can be concerned with issues like new forms of currency and even economic policy. Local struggle, global appeal In the face of the outbreak, the SLLG and its friends have turned their immediate attention to containing Ebola’s spread. The group is asking for bitcoin donations from around the world to get funds directly to workers on the ground who need to buy supplies that include chlorine, cleaning equipment and protective gear such as rubber gloves, goggles and masks. SLLG’s co-founder, Mustapha Cole, told CoinDesk of the difficulties confronting him and his fellow Sierra Leoneans: “It is very hard to live in a society that [has] such a deadly virus [...] especially when many of the renowned doctors in the country are also victims of the virus.” Another SLLG spokesperson added that the sheer number of people who have died so far has led to extreme measures. Once an Ebola case is identified in a certain area, the entire area may be quarantined from two to 20 days. No-one may enter or leave, with locals depending on the government to provide food supplies. Therefore it is imperative to contain Ebola’s spread by educating local townspeople on proper preventative methods and provide the necessary supplies to do so. This is SLLG’s key task. Current bitcoin mission The organization’s Facebook page shows pictures of the group distributing soap, disinfectant, and engaging in educational campaigns to teach people in small villages how to prevent infection. SLLG’s donation drive joins other current campaigns to help stop Ebola and demonstrate bitcoin’s speed and efficiency at gathering funds in small amounts from around the world. However, Sierra Leone’s current means of converting bitcoin into local currency and physical goods remain limited. SLLG’s American co-founder, writer and economist Dan McLaughlin, will receive and convert the bitcoins before wiring the funds to Sierra Leone via bank transfer. “The big story is how [bitcoin] is developing from nothing, rather than how it is already a booming success,” McLaughlin told CoinDesk. McLaughlin first met the Sierra Leoneans on one of his several trips to Ghana as an instructor at the Youth Liberty and Entrepreneurship Camp, and was impressed at how interested they were in economic liberty principles. From there, they founded the SLLG to spread the message in Sierra Leone, and the group is currently in the process of registering itself there as an officially recognized NGO. Building a bitcoin ecosystem from scratch Cole said the SLLG aims to promote “entrepreneurship, free markets, and sound principles that are the basis of any prosperous society”, adding: “The Sierra Leone Liberty Group is a made up of men and women just like you, who intend to make Sierra Leone a better place to live. We believe that progress comes from personal productivity of individuals, but you can’t get different results by doing the same things.” Cole says his wish is to learn more about bitcoin and help build his local community through its use, and has joined with other bitcoin enthusiasts in Africa such as ‘Bitcoin Lady’ Alakanani Itireleng of Bitcoin Botswana fame, and Philip Agyei Asare from Ghana. Asare is assisting the SLLG to develop capacity using mobile technology, building the infrastructure from scratch. He also recently authored an article on the libertarian social network Liberty.me about bitcoin as a decentralized alternative to other ‘mobile money’ systems used in Ghana, like MTN Mobile Money, Airtel Money or Tigocash. The ability to transfer money across national borders, avoid maximum fund limits and disconnect users from reliance on telcos and high-fee banks are bitcoin’s main promises, he said. No silver bullet From its beginnings, bitcoin has often been regarded by libertarian and free-market thinkers as a mechanism to liberate populations in the developing world from unstable local currencies, and provide a much-needed electronic payments network to millions with no access to mainstream banking services. Others with direct experience in the region, however, have pointed out there are still many more pressing issues to overcome first, and it will be a while before bitcoin’s true impact can be felt. Sierra Leone, on Africa’s west coast, is rich in natural and agricultural resources, but its economy has been hampered by fluctuations in commodity prices, corruption, and a decade-long civil war that lasted until 2002. It currently ranks 183rd on the United Nations’ Human Development index. Disclaimer: Use your discretion when donating bitcoin to groups not directly connected to internationally recognized aid organizations. Ensure you send to the correct address and be confident the recipient group is using the funds for its stated purpose. Images via Sierra Leone Liberty Group AfricaCharityHealthSierra Leone
Original author: Jon Southurst

santander
Global banking giant Santander has commissioned a study investigating the potential impact of bitcoin and other cryptocurrencies on the banking sector. As the 43rd largest company in the world, the multinational megabank has branches on five continents and upwards of 180,000 employees. Santander’s study, titled Bitcoin’s Impact on Banks, is being run by insight network Yegii, which is now recruiting experts in the field. The project’s budget is $5,000 and the stage one deadline is 27th August 2014. The report is due to be finalised in late September. In a company post, Yegii outlined the mixture of candidates it is searching for: “The dream team would be multidisciplinary: a bitcoin expert, a management expert, a project manager, a data scientist/scientist/engineer, a banker, an academic, and a student with lots of energy, ideally from different continents, and to include both believers and sceptics.” International megabank The bitcoin report was commissioned by Julio Faura, head of corporate development at Santander. Faura told Yegii founder Trond Undheim that the bank is looking for “additional outside perspectives” on the topic of bitcoin. Faura added that acquiring consulting services from top tier firms would be exciting, but getting an independent multidisciplinary perspective would be of particular interest to the bank. The Santander Group is one of the largest and oldest banking institutions on the continent. It was founded in 1857 and last year it reported revenue of €43bn. The bank’s total assets are estimated at €1.27tn. The group owns dozens of banks in Europe, alongside a number in the Americas. Banks and bitcoin studies The Santander Group is not the first bank to commission a study focused on cryptocurrencies. Last year the National Australia Bank published a brief research paper on the matter which tried to explain the basics of bitcoin. It concluded that it would take “many more years” for the currency to achieve mainstream acceptance. Dutch banking company ING also released a video report which debated whether bitcoin meets the traditional definition of money. Just last month, the World Bank published a policy research working paper on Ponzi schemes, which described bitcoin as a “naturally occurring Ponzi”. The report found that bitcoin had no characteristics of a deliberate Ponzi scheme, but was a “market-driven bubble” much like gold or real estate bubbles witnessed in the past. Hat tip to Hashreport Image credit: JuliusKielaitis / Shutterstock.com BanksresearchSantander Group
Original author: Nermin Hajdarbegovic

apriva International payments platform GoCoin has announced a technology partnership with point-of-sales (POS) service provider Apriva. Apriva’s Gateway connects payment devices, merchant acquirers and payment processors to deploy and manage wireless payments. The new deal will allow it to process payments in multiple digital currencies including bitcoin, litecoin and dogecoin. Stacey Finley Tappin, Apriva’s senior vice president of sales and marketing communications for North America, told CoinDesk that the company strives to offer products and services to its more than 1,000 channels that allow them to differentiate themselves to their merchant base. She explained: “The goal for this partnership is to be the first payment gateway offering digital currency acceptance in the traditional SMB [small to medium-sized business] marketplace and mobile space.” The company’s reseller base won’t have to risk market volatility under the scheme – GoCoin will allow merchants to either keep the coins or trade them for fiat currency at the current market rate. Steve Beauregard, founder and CEO of GoCoin, said: “Our partnership will enable Apriva’s resellers and ISVs [independent software vendors] to provide their merchants the most comprehensive selection of payment options offered today.” Implementing digital currencies Apriva plans to roll out digital currency acceptance in all its products, Tappin said. This includes its mobile app, AprivaPay Plus; traditional terminals including mobile wireless, dial and IP; Apriva’s Integrated Services offerings (incorporated in its APIs); and in its ‘unattended’ solutions for vending machines and kiosks, among other things. Tappin said: “We are continually looking to expand our gateway and acceptance capabilities. Digital currency will be another form of payment acceptance we can provide our resellers and their respective merchants.” Apriva currently supports credit and debit cards, Electronic Benefit Transfer, loyalty schemes, checks and closed-loop payments. Apriva CEO Chris Spinella said that digital currencies are driving change within the payments industry and indicated that the deal was motivated in part by increasing consumer interest in the technology. “Our customers rely on us to be at the forefront of innovation,” he said. Wider bitcoin merchant adoption Tappin told CoinDesk that GoCoin is an ideal partner for Apriva because it offers multiple currency acceptance – not just bitcoin, litecoin and dogecoin, but also emerging altcoins. GoCoin is also currently endeavoring to meet the needs of consumers and merchant clients by making bill payment with digital currencies more accessible to the mainstream. For example, earlier this month it released an email and text message billing system by which merchants can request payments from their customers. Payments technology image via Shutterstock GoCoinPayments
Original author: Tanaya Macheel

korbit-logo-slim Korbit has announced a $3m Series A funding round, led by Softbank’s VC arm Softbank Ventures Korea. The round included Pantera Capital and BAM Ventures, as well as investors and funds previously associated with the company; Barry Silbert’s Bitcoin Opportunity Corp, Tim Draper, Pietro Dova and Strong Ventures. The first bitcoin-to-Korean Won exchange, Korbit had previously received a seed funding round of $400,000 in January, which brought its funding total at the time to $600,000 in angel investing overall. Although it offers an English-language version of its website, Korbit’s services are targeted at the Korean domestic market. CEO Tony Lyu told CoinDesk how Korbit intends to use the extra funding, saying that it will be reinvested to improve the quality of the company’s products and services. Lyu added: “Our product line spans multiple areas – bitcoin wallet, exchange and merchant processor – and it takes considerable resources to deliver enterprise-grade performance and integration.” Korbit will also seek to acquire new talent with the capital. Venture capitalists praise bitcoin, Korea SoftBank Ventures Korea Partner Kangjoon Ryan Lee expressed optimism in his comments, speaking positively about both bitcoin and its advantages over current payment networks. Lee framed bitcoin as a solution to the high costs imposed by financial intermediaries, saying: “Bitcoin provides big advantages in terms of cost savings and ease of use compared to traditional currencies and credit cards. I expect bitcoin to create meaningful markets in payments and international remittance. Going forward, bitcoin can play a role in wider variety of industries, for example enabling machine-to-machine transactions or acting as a platform for smart contracts.” Pantera Capital CEO Dan Morehead expressed the reasons for his company’s interest in Korbit and Korea in a statement, citing the fact that South Korea has historically been an early adopter of digital goods. Morehead continued: “The government supports innovation and even the banking foundation is invested in Korbit. Pantera Capital is excited about the investment in Korbit and confident that bitcoin will thrive in Korea because of its early adoption of innovative technologies and abundance of technical talent.” Korbit gains traction in Korea Korbit offers a bitcoin wallet, merchant payment processing service and a bitcoin exchange. In March, it launched a cryptographic proof-of-reserves system called BitTrust, where users can register to verify their account balances are stored as claimed. The company says it has signed up 25,000 individual users to its consumer services, and more than 400 merchants to the business-oriented Korbit Pay. The company’s clients include offline merchants such as Nescafe (coffee) in Gangnam and Natuur (ice cream) in Pangyo, while its online merchants include Hanintel (lodging reservation) and News Peppermint (news translation). South Korea has a relatively small but growing bitcoin user community, driven mainly by online payment services that aim to satisfy the country’s large young population of online shoppers and gamers. The country’s two largest bitcoin companies, Korbit and Coinplug, are engaged in healthy competition to bring a number of sophisticated bitcoin services to market, including mobile apps, merchant software and an ATM. Images via Korbit AsiaKorbitSouth Korea
Original author: Jon Southurst
  1. Leading Altcoin Developers Speak Out Against New York’s BitLicense Proposal
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  3. Acquisitions and Partnerships Fuel Bitcoin Mining Sector Expansion
  4. Black Market Cannabis Road Hacked, $100,000 in Bitcoin Lost

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