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blockchaingogocard
Prepaid bitcoin card specialist GogoCoin has announced a key partnership with Blockchain that will see the two companies coming together to issue a ‘white-label’ card that can help users quickly set up a bitcoin wallet.The Blockchain cards are loaded with 2 mBTC, intended as giveaways to increase the user base of its wallet service.Tom Longson, CEO of GogoCoin, told CoinDesk that he believes the cards will help encourage greater bitcoin adoption:“It’s very simple, and designed to go as easily as possible so there are no complicated steps. You don’t have to understand bitcoin as much as you get something to work with immediately.”Relationship with BlockchainLongson says that the GogoCoin partnership with Blockchain is all about marketing, stating:“Essentially people who are getting the cards are going into Blockchain wallets. So it’s a way to get more people to sign up for wallets as beginners, especially.”Users who receive a Blockchain card follow the instructions on the back to go to redeem.bitcoin.com. Then they use the scratch-off code on the card to get 2 mBTC for the wallet. Growht of Blockchain.info wallets over the past year. Source: Blockchain.infoGrowth of Blockchain.info wallets over the past year. Source: Blockchain.infoThe partnership boosts Blockchain’s ability to utilize its bitcoin.com domain as a consumer-friendly onramp to BTC.Longson, in turn, says that the partnership was a no-brainer for his company as well:“It’s a great partnership. We’ve really liked what Blockchain has been doing for a long time. Their service is basically the longest-living, as far as I know.”Longson says the white-label approach working with Blockchain.info helps everyone involved with virtual currencies:“If Blockchain can give away cards, and that gets more people understanding what bitcoin is, that’s a win. That’s a win for us, that’s a win for Blockchain.info, that’s a win for the community at large,” he said.Beginner’s fairThe Blockchain-branded cards were first introduced at the recent Bitcoin Beginner’s Fair.The event was held at the San Francisco coworking space 20Mission. That space is host to regular bitcoin meetups and even held a Bitcoin Art Fair earlier this year to promote digital currencies.“I don’t have the exact count [of attendees]. [But] I know that we gave about 300 cards away,” said Longson.GogoCard has been working on its own branded cards for sometime now. Longson frequently gives $25 GogoCoin cards away at events to get people started with bitcoin.Often times, events designed to introduce newcomers to bitcoin give out paper wallets. Longson says paper wallets are useful, but that they have limitations, saying:“Less people actually redeem paper wallets. This is just because it is inherently more complicated.”About GogoCoinLongson also added that Blockchain product manager Dan Held is now working as an advisor for the startup.In addition to Held, dogecoin creator Jackson Palmer and I Can Has Cheezburger? co-founder Eric Nakagawa also have come onboard with GogoCoin in advisory roles.GogoCoin is San Francisco-based, and the company is currently working on its product at 500 Startups. It is one of five bitcoin startups incubating at the Mountain View accelerator.Longson says that GogoCoin will be announcing some more key partnerships in the near future. He hinted towards getting GogoCoin cards into major retailers, although he could not name any at this time.Getting cards of digital currency into the hands of the average person is what GogoCoin is all about.According to Longson:“What our cards really allow for people to do is get something nice and tangible and it gives a good feeling. Like, ‘I’ve got something that represents bitcoin’.”Blockchain card image via TwitterBitcoin.comBlockchain.infocardsGogocoinpaper walletswallets
Original author: Daniel Cawrey

Relaxing after a long week in the alternative digital currency world? If so, it’s time to kick back, count your coins and remember that we’re all here to have fun.California offers much weddings for dogecoindogecoin weddingWhile the list of places where you can spend your bitcoin is steadily growing, there aren’t nearly as many locations that will accept the less than one-year-old digital currency dogecoin.However, dogecoin lovers have gained a new service that will take their dogecoins as payment — a marriage service based out of Los Angeles County in California. Long2Wed has been accepting both bitcoin and dogecoin for just over a month, offering confidential marriage licenses and marriage ceremony facilitation.CoinDesk spoke with officiant Anthony Matthews, who said that he uses the Android mobile app to accept payments in digital currency. He voiced excitement over the prospect of being the first marriage officiant to accept dogecoin, saying:“[Dogecoin] is an interesting social experiment, and integral part of the whole cryptocurrency theme.”He explained that the type of marriage licensure and officiation he offers is similar to traditional marriage licenses without some of the bureaucratic hassles involved. In a way, Long2Wed is a decentralized wedding solution that appropriately integrates digital currency.Matthews added that he believes his wedding services would cost about 500,000 dogecoins, and that he has not had a bitcoin or dogecoin customer.Those in the dogecoin community looking for a destination wedding might want to factor this interesting service into their plans. Given the high costs of actually holding a wedding, this could be a fun and innovative way to pay for the event.Unique asset backs new altcoin urourocoinA number of alternative cryptocurrencies have emerged in the past year that seek to back a proposed coin with a physical commodity. In most cases, the underlying asset is a (declared) supply of precious metals like gold or even a publicly acknowledged bitcoin mining hashrate.Uro, a new altcoin, is moving in an unusual direction by backing up its currency with urea, a globally used fertilizer known for its nitrogen-rich properties.According to the official Bitcoin Talk forum post, the project has reportedly attracted the interest of several institutional urea traders who will help peg the coin by a 1:1 ratio with each uro supported by a metric tonne of urea.The uro development team was unavailable for immediate comment. However, according to the forum post, the next phase of the project involves creating an exchange for trading uros and urea. The proposal calls for providing computers to urea producers to help facilitate digital commerce.The project’s management released a working draft this week for a proposed trade organization that would facilitate activity among urea producers and traders. Still, it remains to be seen how this proposal will result in a urea-based economic system.Criticism mounts for isracoinisraecoinSince the advent of auroracoin, a country coin developed specifically for distribution in Iceland, a number of similar projects have emerged promising greater financial independence for the citizens of their target nations.In the case of isracoin, the country in question is Israel. Its airdrop has already begun with a completed business community phase, and will continue next to everyday citizens, beginning on 3rd June, according to a post on Bitcoin Talk.The altcoin has reportedly engendered a great deal of controversy.As reported in The Marker, a Hebrew-language newspaper, feelings are decidedly mixed about isracoin, with some fearing that the project could be used to defraud Israeli citizens. Others see it as a viable, regional-scale alternative to bitcoin.A point of contention is the Israeli government, which has not weighed in on the altcoin yet. Previously, regulators in the country have adopted a wait-and-see approach toward digital currency, although the bitcoin community remains robust there. On the other hand, a Februray release from a group of Israeli financial regulators suggests that the country could ultimately take a sterner stance on digital currencies.Another criticism was the large price bubble that formed in the isracoin market. After achieving an $112m market cap, according to CoinMarketCap.com, the altcoin has since slid to an estimated market cap of just under $4m.With its airdrop still under way, isracoin could stand to make an impact in Israel’s digital currency scene should it overcome these problems of perception.Strange alt of the weekopeccoinLast month on All Things Alt, we looked at embargocoin, an altcoin that involved a proposed economic model that dictated how the mining cycle would progress. In the case of that project, so-called “trade barriers” resulted in longer-than-normal transaction times to simulate an economy under stress.A new project called OPECcoin (sign: OPC) seeks to peg the value of its currency to the amount of oil produced worldwide each day. It takes its inspiration from the Organization of Petroleum Exporting Countries (OPEC), a global trade group composed of the world’s major oil powers.Ultimately, the plan is for 1 OPECcoin to be worth a single barrel of oil, and for member-countries to adopt the altcoin as means of payment. At press time, the price of Brent crude oil was roughly $108 per barrel, according to Oil-Price.net.For this unusual value peg and effort to shift multibillion-dollar oil economies to an altcoin-based system, OPECcoin has earned this week’s Strange Alt of the Week award.OPECcoin is a proof-of-work/proof-of-stake hybrid. It utilizes the X13 mining algorithm, with a roughly 30 million-coin max supply and five-block processing time, according to its official Bitcoin Talk post.Notably, OPECcoin deploys a unique mining schedule with phases that reflect the different member countries. After 200 blocks with zero rewards, the following stage released what were deemed “Libya blocks”. After that, “Iraqi”, “Iranian” and “UAE blocks” were deployed. Before the proof-of-work phase ends, miners will work through the network’s “Saudi blocks”.Each phase offers different reward amounts. For example, a Libya block sports 220 OPECcoins while the Saudi blocks will offer an expected 9,400 OPECcoins.All Things AltdogecoinOPEC
Original author: Stan Higgins

yukon gold mine
The unnamed parent company of a Yukon, Canada, gold mine is now for sale on high-end bitcoin-only marketplace BitPremier for an asking price of $2 million in BTC.The listing indicates that the more than 3,000 BTC price tag includes the gold mine itself and all its associated assets, including $1 million worth of actual mining equipment, the rights to one mining property and the lease agreement to another mining lot.The ad suggests that the purchase could be a profitable one for the buyer as well, stating:“Any new buyer could recoup their initial investment in as little as two mining seasons.”The listing indicates that the company earns $1m annually in sales and has the potential to produce 3,000 to 4,000 ounces of gold per year.In a bid to encourage more novice bidders, the current owner further said he is willing to stay on to manage the property for up to five years to ensure the operation runs smoothly.Record-setting saleyukon gold mineThe listing is just one of the many high-end items that have been listed on BitPremier’s website since it launched in May 2013, but if completed, it would be the largest facilitated by the e-commerce company to date.The most expensive purchase on the platform was completed in March, when a villa in Bali, Indonesia sold for $500,000 in what was believed to be the single largest bitcoin purchase ever.If completed, the $2m gold mine sale would surpass this figure, potentially setting two new records in the process.Bitcoin meets goldyukon gold mineNotable for its size, the gold mine listing is also indicative of how bitcoin has become more widely accepted in the precious metals community.Earlier this year, Bitcoin Bullion launched a gold-to-BTC exchange, while financial personality Peter Schiff announced in May that his gold and silver outlet Euro Pacific Precious Metals would begin accepting bitcoin due to market demand.For more on how bitcoin bullion dealers are looking to expand their services into new and potentially lucrative markets, read our most recent report.Images via BitPremierbitpremiere-commercegold
Original author: Pete Rizzo

California Assembly
The California state legislature’s effort to effectively legalize bitcoin — along side a host of other alternative stores of value — as forms of money cleared an important procedural stage on Wednesday as it moved closer to becoming law.On 4th June, the California Senate Banking and Financial Institutions Committee voted overwhelmingly in favor of AB-129, the bill authored by Assemblymember Roger Dickinson that would recognize digital currencies, points and coupons, among other US dollar alternatives, as lawful money.The 7-1 vote by the committee means the bill will move to the Senate floor for debate.If approved, the bill will then go to California Governor Jerry Brown’s desk for signature. AB-129 was sent to the Senate committee in February after receiving unanimous approval in the Assembly.With the bill now heading to the Senate floor, bitcoin is one step closer to becoming a recognized lawful money in the largest state economy in the US.Call for complete repealThe latest version of the bill, amended on 22nd May in the Senate, calls for a complete repeal of Section 107 of the Corporations Code, which prevents companies or persons from creating unlawful forms of money.Previously, the bill altered Section 107 to recognize bitcoin as “lawful money”, with a provision stating that individuals or businesses were not required to accept digital currencies as a form of payment. The bill still allows for the free use of bitcoin in the state, but the broader repeal opens the door for a variety of digital currencies.Dickinson explained the purpose of the bill to CoinDesk when it first moved to the Senate for considerating:“We’re not trying to deter or advance the development of alternative currencies. We’re trying to say that to the extent that alternative currencies are developed and in use, we will consider that to be a legally acceptable activity in California.”Limited scopeIn March, Dickinson told CoinDesk that the effort was born out of a need to clarify the legal status of even long established alternative forms of value, which current California law doesn’t necessarily accommodate.At present, regulators believe that changes are needed to current law to ensure that various forms of alternative currency do not violate the law when used for the purchase of goods and services or the transmission of payments.Dickinson indicated that he saw bitcoin as worth of consideration among other, more established alternatives to money, stating:“It wasn’t so much setting out to look at the issue of alternative currency, it was more evolutionary, leading into the breadth of the subject matter that suggested to us you couldn’t ignore alternative currencies.”Notably, the proposed law would not designate digital currencies as legal tender, rather as lawful money that may be accepted for goods and services.Legal tender, by comparison, constitutes a federally sanctioned currency that can unquestionably be used to settle debts or obligations.California state capitol building in Sacramento image via ShutterstockCalifornia Assemblyroger dickinson
Original author: Stan Higgins

cointerra
Bitcoin mining hardware producer CoinTerra has moved to reassure customers after it emerged a number of complaints about the company have been lodged with the Better Business Bureau (BBB).Some 11 complaints relating to CoinTerra have been closed with the BBB in the last 12 months. Two of these related to advertising and sales issues, one related to guarantee and warranty issues and eight related to problems with the company’s products or service.The BBB is a private entity, not a government agency, which aims to improve trust between consumers and businesses.Complaints are closed when some form of resolution is reached between the customer and company. The BBB only details the number of closed complaints, so it is not known how many active complaints about CoinTerra the organisation is currently dealing with.Forum complaintsThe main complaints being voiced on bitcoin forums, including Bitcoin Talk and reddit, by CoinTerra customers relate to delays in the processing of refunds.CoinTerra is offering refunds to the January and February batch of retail customers who paid for the first production of its TerraMiner IV units.This mining hardware unit promised to deliver 2TH/s using 1,650W of power, but the company’s testing revealed it was only running between 1.63TH/s and 1.72TH/s, with power draw between 1,900W and 2,100W.Customers were offered the following two options:1. For January or February batch retail customers who wish to receive their TerraMiner order in the currently-shipping specification we will offer a 15% discount coupon* redeemable against their next retail hardware order placed at the CoinTerra website store. If a January or February batch retail customer chooses to accept their order as-is they will automatically receive this coupon.2. We understand that some January or February batch customers may wish to request a refund, in which case we will offer a full refund of US dollars received for their order. Customers wishing to request a refund should contact [email protected] with their unique order ID. For those customers who choose the refund option we would like to extend the offer of a 5% discount coupon* redeemable against their next retail hardware order placed at the CoinTerra website store.The company’s statement didn’t provide any information on how long the refund process would take, but there have been many complaints from customers that they have been waiting months for their money.Refund delaysOne customer told CoinDesk he had opted for a refund and was told by CoinTerra it would take three or four weeks to be processed.“They first stated I had to wait 3-4 weeks for processing. I waited, the four-week mark passed and nothing. I’m over the 10-week mark now,” he said.Daniel Larsson, press officer at CoinTerra, said the company’s goal has always been to process legitimate refund requests as quickly as possible, adding:“In most cases we have been able to verify the customer’s payment, and then validate their identity and address in order to send out a refund in approximately four weeks.”He explained that CoinTerra processes refunds via cheque for those living in the US and via wire transfer for international customers.A significant number of the company’s customers pay for their miners in bitcoins through a transaction processor, which then converts the bitcoins into US dollars.Larsson said CoinTerra ultimately receives dollars and refunds in dollars, which means it has to perform identity verification.“Partly as a result of this time-consuming process, we are currently experiencing a short-term backlog that we are working to clear as quickly as practically possible,” he said. cointerra-minerCoinTerra’s TerraMiner IV mining unitLarsson confirmed that over half of the total refund requests have been processed, with the remaining refund queue comprising around 200 orders.“Our goal is to have all remaining refund requests processed by the end of the month,” he said.Poor communicationCustomers have also been complaining that there has been a lack of communication from the company, with one stating: “There is no way to get in touch with them. They won’t answer their phones, the won’t answer any emails.”Larsson said the company recognises that, due to a large volume of customer support requests, its response time to some customers has been less than ideal.CoinTerra’s goal is to respond to customer inquiries within 24 hours, but this has been difficult to achieve recently, he added.Company developmentsCoinTerra’s most recent statement announced the launch of CoinTerra Mining, the company’s new cloud-based mining contracts product.A number of customers who had previously requested refunds have now decided to switch their refund request to a CoinTerra Mining contract instead.Larsson suggested the company currently has some new projects under development, but refused to elaborate any further.It has been reported, though, that CoinTerra plans to build its own data centre in order to facilitate its new cloud-mining offering.Cointerraminingreddit
Original author: Emily Spaven

puppeteer
A recent paper by two senior central bankers in Europe suggests that the technology underlying bitcoin could serve as the catalyst for change in the global money and payments infrastructure.Entitled “The Evolution of Central Banks: A Practitioner’s Perspective” — and co-written by Bank of England chief economist Andrew G. Haldane and Jan F. Qvigstad, executive director of Norges Bank, Norway’s central bank, the paper covers the evolution of central banking and the challenges that have arisen in the era of digitized monies.Perhaps most notably, the authors reject the idea that decentralized digital currencies have a future, owing to price volatility and the somewhat negative public perception of bitcoin.Instead, they posit that central banks could issue their own digital currencies that would benefit from the institutional backing of a central bank. However, the paper acknowledges the transformative role that bitcoin is currently playing.The authors write:“If [bitcoin] proves to be robust, it would be an important step forward in thinking about how trust in money is created and sustained and hence the future of money and payments.”Ongoing evolutionThe authors contrast the opposing viewpoints on digital currency. On the one hand, they say monetary economists have largely dismissed bitcoin as a failed experiment in “private monies”, while technology enthusiasts have argued that bitcoin will revolutionize the way people pay and think about value.Though acknowledging the strengths of decentralized digital currencies like bitcoin, Haldane and Qvigstad say that they are “unlikely” to reshape the global payments infrastructure, writing:“For a variety of reasons, it seems unlikely that bitcoin itself will change the landscape for money and payments. But, the technology underlying bitcoin perhaps could.”Rather, the authors point to companies like PayPal and Google as models for how improvements can be made to the world’s payments structures without introducing radical new elementsCentral banking to prosperHaldane and Qvigstad dismiss the notion that decentralized digital currencies will mark the end of central banking, calling such a viewpoint “overly pessimistic”.Comparing the introduction of digital currencies to the ascent of gold for use in banking, the authors say that central banks worldwide could adopt bitcoin-like technologies. Such a move, the report states, would constitute “a next evolutionary step in money issuance”.Finally, Haldane and Qvigstad say that central banks could benefit from the technology even if they choose not to integrate digital currencies in the near-time, writing:“Central banks have never been technological first-movers. But, the game of money and credit are repeated ones. And in repeated games it is usually the last-mover that matters most.”Puppeteer image via ShutterstockBank of Englandcentral bankEuropeNorges Bank
Original author: Stan Higgins

 

This week Apple let down its anti-bitcoin guard and 50 Cent dropped a new album with some exciting news. Check out these and other top news stories in this week’s roundup.

Apple updates its policy on virtual currencies: Apple released an update to its App Store Review Guidelines. The updated purchases and currencies section now reads:

“Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions.”

Apple has had a long history of restrictive policies dating back to 2012 when it first removed the Blockchain and BitPak wallet apps. Apple garnered the ire of the bitcoin community again when it removed Coinbase in November 2013 and Blockchain in February 2014.

eBay CEO hints of future plans to integrate bitcoin: eBay CEO John Donahoe has once again strongly indicated that he sees bitcoin integration as a possibility for his companies eBay and Paypal. In addition to last month’s statement when he said Paypal was “actively considering” bitcoin integration, he appeared on CNBC and said, “[…] at PayPal, we’re going to have to integrate digital currencies into our wallet.”

2014 bitcoin VC investments surpass 2013 total: Bitcoin VC investments this year are already 30% higher than 2013’s total investment. So far this year, bitcoin startups have raised $113.2m, which is $27m more than last year.

Rapper 50 Cent accepting bitcoin for new album: Hip-hop artist 50 Cent is the latest musician to embrace bitcoin. The rapper is accepting the digital currency as a payment for his latest album ‘Animal Ambition’ this week, after the artist’s Shopify store teamed up with BitPay to accept the currency.

Thanks to 50 Cent, I have got my tunes sorted. Hope you all have a wonderful weekend ahead!

AppleBitcoin News RoundupeBayPayPalroundupventure capital

Original author: Roop Gill

Red Nose Day
Comic Relief, the British charity best known for its ‘Red Nose Day’ fundraising event, is exploring the potential for bitcoin donations.The Red Nose Day telethon is held every two years and has raised many millions of pounds since its launch in 1985 for causes such as famine and the fight against malaria in Africa, as well as disability rights and homelessness in the UK.On alternate years, the charity also hosts Sports Relief, a similar telethon that brings together the worlds of sport and entertainment to raise money for its supported causes.Now, in response to the surging popularity of online donations and calls from the crypto-community to be able to do their bit in alternative currencies, Comic Relief is examining bitcoin as a means to boost donations.Online donations boomZenon Hannick, Agile Project Manager for the organisation told Finextra that 2013 was the first year in which online donations overtook telephone-based fund raising, with 60% of the online total being donated by people using mobile devices to make their payments.After a member of the development team pointed out that Comic Relief was receiving negative comments on cryptocurrency forums for failing to accept bitcoin, Hannick decided to look further into the matter.He explained:“I’m looking at the potential for us accepting bitcoins, seeing where the cryptocurrency is going, and if that’s something we need to address in the near future.”Crypto charityIf the charity decides to adopt the digital currency for donations, it will likely be the first major charity to do so.However some crypto-communities – especially dogecoin – have already developed something of a tradition of giving, with recent schemes raising funds for new Kenyan water wells and aid for cash-strapped Olympians, as well as a homeless outreach project in Florida that survives on bitcoin donations.The next Red Nose Day will be held on Friday 13th March 2015. Perhaps by then bitcoin will be accepted as the simplest and quickest way to help the charity support those in need.Red Noses image via Comic ReliefcharityComic ReliefdonationspaymentsUK
Original author: Dan Palmer
  1. Facebook Approves First Cryptocurrency Tipping Apps
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  4. Maturing Middle Eastern Bitcoin Ecosystem Emerges at ArabNet Conference

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