Rapper Accepts Bitcoin for New Album

50 Cent's Accepts Bitcoin for his New Album 'Animal Ambition'

Business mogul and hip-hop star Curtis "50 Cent" Jackson has joined the growing number of musicians and entrepreneurs who are embracing bitcoin by accepting the digital currency as payment for his new album, 'Animal Ambition'.

50 Cent's Shopify store will accept bitcoin payments for the new release, with BitPay acting as the payments processor. Shopify first integrated payments for its network of merchants in November 2013. The development brings a prominent face to the bitcoin community. In addition to being a successful rap artist and producer, Jackson is a notable entrepreneur, having invested in Glaceau - the makers of Vitaminwater - in a deal that would eventually propel his net worth toward $140m.

Tony Gallippi, BitPay's executive chairman, hailed the announcement by saying:

"We are excited to see high profile independent artists use bitcoin and 50 Cent's trail as an innovator is outstanding."

Jackson has also sold more than 30 million records to date, with hit albums including 'Get Rich or Die Tryin', 'Curtis' and 'Before I Self Destruct'. The release follows Jackson's decision to leave longtime label Interscope Records in February to work with distributor Caroline, part of the Independent Services division of Capital Records.

Bitcoin's Latest Entrepreneur

Most famous for his investment in Glaceau, which later sold to beverage conglomerate Coca-Cola for $4.1bn, 50 Cent has also engaged in other notable investments over the years. In 2013, he took another chance on the beverage market, launching Street King energy shots, which currently holds the number two market share in the $2bn annual industry.  Jackson is a noted activist as an investor, it's possible that the move signifies the rap star's larger interest in digital currencies. For example, by accepting bitcoin as payment for copies of 'Animal Ambition', the venture provides Jackson with an interesting way of accruing BTC.

BitPay's relationship with Shopify allows merchants to receive dollars, bitcoins or a combination of the two. It isn't clear which direction Jackson plans on taking the store in this regard. CoinDesk reached out to Jackson's representatives for more details, but was unable to receive immediate comment.

Source: coindesk.com

Bitcoin Investments are Stopping!

US Regulator Warns Against Investment in Bitcoin!

The SEC has urged investors to approach Bitcoin with caution due to its recent volatility. The US financial regulator Security and Exchange Commission issued a lengthy warning against investing in Bitcoin, straight that it lacks "credibility and trust." This comes a few month after the SEC announced that it would regulate the virtual currency as an asset instead of a currency, meaning that traders would have to pay the capital gains tax on transactions.

Bitcoin has come under fire due to exchange rate volatility and the bankruptcies of MtGox and Flexcoin. While it still has its supporters, iOS, Android and Windows mobile casino Vera&John recently announced that it would no longer accept deposits in the currency. In addition, American hedge fund mogul Warren Buffet has urged investors to approach Bitcoin with caution.

Governments seek to regulate Bitcoin

Late last year the People's Bank of China announced that it would not allow domestic companies to trade in Bitcoin, and now the SEC is looking to increase regulation on the currency. However, the fact that all transactions are virtual and bypass the use of banks makes it difficult to governments to monitor use the currency. It is accepted by numerous mobile casinos including Bet365 and Zynga.

Source: blackjackchamp.com

Bitcoin Goes Hollywood

Top 5 Celebrities Investing in, Using and Talking about Bitcoin!

1. Ashton Kutcher

Actor Ashton Kutcher is the co-founder of venture fund A-Grade Investments, who have invested in BitPay, the payment processor that allows merchants to accept bitcoin payments. Speaking at the TechCrunch Disrupt NY conference last year, he said: "The bigger thing with bitcoin is: what can that decentralised technology really do? Imagine if we can decentralise that issue, and if we can decentralized security.

Kutcher has been successful as a venture capitalist on the tech space following an offer by Anderseen, with whom she has since become close, in 2099 to invest in Skype. He has also invested Spotify, Airnumb, Foursquare.

2. Snoop Dogg

In a tweet last December, rapper and singer-songwriter Snoop Dogg teased that his next album would be "available in bitcoin" and "delivered in a drone". Although the tweet was facetious, he responded more seriously to BitPay and Coinbase when they reached out to him offering their services.

Snoop Dogg's representatives later said in an interview that he was not serious about accepting bitcoin, but the news brought waves of attention to the digital currency  by the general public.

3. Akon

Bitcoin "is going to change the world from a money transactional standpoint not just for Africa, but for everywhere", said recording artist and producer Akon at the Milken Global Conference this Wednesday (30th April).

His declaration is the latest of celebrity endorsements helping the technology and digital currency gain trust among the general public.

4. Nas

Rapper and songwriter Nas, along with his manager Aymen Anthony Saleh, are investors in more that 40 startup companies including digital wallet company coinbase and 500 startups, the Silicon Valley incubator accelerating bitcoin companies. And they're just getting started.

Last year, Coinbase raised $25 million in Series B funding led by Andreessen Horowitz thanks to whom Nas and Saleh learned how to approach and assess their potential investment opportunities. The firm's partner Ben Horowitz is close with them, according to Saleh.

5. Mel B

Last Christmas former Spice Girl and X Factor judge Mel B partnered with London-based CloudHashing to become the first musical artist to accept bitcoin to purchase her music.

"I love how new technology makes our lives easier, and to me, that's exciting," she said. "Bitcoin unites my fans around the world using one currency. They can just pay using bitcoins." CouldHashing offers bitcoin-mining-as-a-service.

The company had a booth at the Austin music and technology conference SXSW this year to showcase their service to industry icons and enthusiasts still new to bitcoin.

Source: coindesk.com