World's Largest Company to Accept Bitcoin

DISH Cable Provider Becomes Largest Company to Accept Bitcoin!

DISH Network Corporation is the largest company to accept bitcoin to date, last year they were able to have a revenue of $13.9bn, The company has more than 30,000 employees. Today, DISH Network has announced that will be accepting bitcoin payments, making it the largest company in the world to do so. The company is the first subscription-based TV provider of its kind to make such a venture into the digital currency realm, and will start its new business model in the third quarter.

DISH Network

"We always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills. Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals." Said the company's executive vice president and CEO Bernie Han.

DISH will now use Coinbase as its payments processor to deal with all bitcoin transactions. The company will make the most out of Coinbase's Instant Exchange feature, which converts digital coins into fiat currency.

Coinbase's co-founder, Fred Ehrsam, expressed his feelings towards the partnership.

"We're excited to support DISH and their current and new subscribers for their bitcoin transactions. This is a large step forward in the growing momentum of customers paying companies in bitcoin for things we do every day, like watching premium TV."

Han adds that the payments processing company will allow DISH to easily transition into the digital coin world. DISH customers will have the opportunity to go on mydish.com in order to pay cable bills with bitcoin, in addition to already existing payments methods.

Prior to March 31st, 2014, DISH announced that it provides approximately 14.097 million paying subscribers. As for Coinbase, the payment platform works with over 31,000 merchants to help them become well acquainted with the digital coin economy. DISH's move into adopting bitcoin may very trigger other cable, phone and internet providers into following their lead. If successful, DISH may become the benchmark for where bitcoin takes off in  the entertainment services industry.

Souce: coinreport.net - dish.com

Superbike Racer Will Be Wearing Bitcoin Logo

Superbike Racer to Wear Bitcoin Logo at Isle of Man TT Classic!

Australian bitcoin payment infrastructure company Diamond Circle is bringing bitcoin to the racetrack, sponsoring local superbike rider David Johnson in this week's famous Tourist Trophy (TT) race on the Isle of Man. Taking a cue from the recent successful in the attention-getting stakes covering of NASCAR racer Josh Wise's car with dogecoin livery, Diamond Circle will put its logo alongside the orange 'B' on Johnson's helmet as he rides in the 107 year-old race classic, which is broadcast around the world.

CEO Stephen Rowlison believes that such associations and global sponsorship deals are the best way to bring light to the digital currency revolution as it rolls out its products, and thanked associates such as Jason Kelly of the Manx Digital Currency Association. He presented one of Diamond Circle's bitcoin debit cards to Johnson'[s racing team Lloyd James PR Kawasaki as part of the promotion.

Bitcoin friendly jurisdiction

The Isle of Man has made bitcoin headlines outside of motorcycle racing too. A recent ruling by the island's Financial Supervision Commission determined that licenses are not required for bitcoin exchanges, and over 15 bitcoin exchanges are said to be interested in setting up there. Fast internet and low taxes have already made the territory an e-commerce hub, including a large number of online gambling sites.

Business leaders on the self-governing British Brown dependency have formed the Manx Digital Currency Association, whose role is to assist government and protect the reputation of the Isle of Man through sensible policies.

No New Board Members

Bitcoin Foundation Vote Yields No New Board Members!

A vote to fill the two vacant seats on the Bitcoin Foundation's Board of Directors has ended with no candidates garnering enough votes to secure a position. Candidates needed at least 52 votes to be elected to seat, however, no candidates passed this voting threshold, election results show.

Though no candidates were elected, clear favorites for the position did emerge. BTC China CEO Bobby Lee received 44 votes while venture capital Brock Pierce and Gyft CEO Vinny Lingham finished second and third in the voting, capturing 34 votes and 21 votes respectively.

The foundation will now hold a run-off election featuring only these three candidates. The Bitcoin Foundation had earlier reported that 75% of its industry members had voted in the initial round, and that 102 out of the possible 137 ballots had been submitted by eligible voters.

Fifteen candidates were nominated for position, including Huobi CEO and founder Leon Li and BitcoinBlackFriday organiser Jor Homquist, among others. All candidates received at least one vote. Election committee chair Biran Goss indicated that details on a planned second round of voting would be released next week.

Source: coindesk.com

Bitcoin is Technology and not a Money

Bitcoin is not a money, the deputy director of the Dutch Payments Association has declared.

"Bitcoin is not a claim and therefore not a money. If you and I agree to pay each other in tulip bulbs then we have established a private currency and the same applies to bitcoin."

Comparing the digital currency to tulip bulbs, which famously rocketed in price during the 'Tulip Mania' bubble of the early 1600s. Gijs Boudewijn dismissed suggestions that bitcoin could be currency!

Bitcoin has two almost distinct personalities. The first is the political revolutionary, destined to disempower government. The second is more prosaic; bitcoin is simply a better way of transferring money, a technology easily co-opted by a banking system seen by some bitcoiners as the enemy.

Bitcoin is really convenient. The comments come weeks after the Dutch Minister for Justice and Security said bitcoin would not be banned, and echo a recent UBS report that suggests that banks can adopt "a bitcoin-like technology" to create a new foundation for payment services that would prop up, instead of pull down, the existing banking system.

Someone doubts that bitcoin can become a widely-used currency, and argued that the need for government to provide confidence in a currency means bitcoin would be a limited prospect.

Source: coindesk.com