If Digital Currencies were Popular Companies

There's no doubt that the technology industry has made its presence in pop culture known load and clear. Gone are the days when only engineers and geeky hobbyists talked about using new software applications or gossiped about the most recent company acquisition.

Though digital currencies may be relatively late to the party, they're certainly making up for the lost time. Thanks to the open source nature of the Bitcoin protocol, anyone with some time and programming experience can create their own uniquely branded digital currency. Now if we were to make some comparison to the most popular digital currencies and their counterpart when it comes to the most successful and popular companies.

Bitcoin would be Google!

Just like how Google is the fact search engine of choice for Internet users, a vast majority of people who use digital currencies are dealing with bitcoin. Bitcoin and Googl'es dominating popularity in their respective industries is not the only similarity between them, though.

Bitcoin has made it this far in part due to its open source development model, which allows developers to build applications that expand on the core protocol. Google has also taken a noticeably open approach to its development.

Litecoin would be Yahoo!

Litecoin was one of the first alternatives to bitcoin for digital currency enthusiasts. Though nearly identical to bitcoin, litecoin distinguished itself with a faster block time of 2.5 minutes (compared to the 10 minutes it takes on the Bitcoin protocol), and has even been declared the "silver to bitcoin's gold".

Though Yahoo! was around before Google, the veteran search engine has fallen behind Google in traffic rankings. In recent years, however, Yahoo! has revamped its marketing approach and has sought out expansion to new verticals, similar to litecoin's quest to use branding to distinguish itself and gain market share from its titan rival.

Ripple would be Uber!

Ripple arrived on the digital currency scene and right away grabbed everybody's attention. Situating itslef more as a payment protocol than an actual currency, Ripple was successful in disrupting the ecosystem of digital currencies that largely consisted of near clones of the Bitcoin protocol.

Like Ripple, Uber made a loud entrance into the world of ridesharing and taxi services when it was founded in 2009. Uber used software to build an app that quickly proved to be disruptive to the taxicab industry.

Dogecoin would be Snapchat!

Aside from bitcoin, dogecoin may be the most buzzed-about digital currency. Members of the dogecoin community are active, loyal, and vocal about their digital currency of choice, There is a lighthearted feel to the dogecoin movement, and supporters of the meme-inspired coin sometimes struggle to be taken seriously by other digital currency enthusiasts.

Selfie-taking teenage users of Snapchat also face some of the same problems of dogecoiners: they're the clear drivers behind their respective movements, but are still scoffed at by peers who consider themselves more mature. Similar to the story of dogecoin, few people expected Snapchat to become so popular in its early days. Both dogecoin and Snapchat have found considerable success!

Source: coindesk.com

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

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.

Bitcoin will be Bigger than Facebook?

Winklevoss Bros: Bitcoin Will be Bigger than Facebook!

Tyler and Cameron Winklevoss discovered bitcoin in June 2012 while on vacation, and have had big plans for the digital currency ever since. The duo claims that bitcoin encourages financial freedom and openness.

Bigger than Facebook

Their destiny's lead them to bitcoin while in Ibiza, after bumping into a familiar face. Tyler explains:

"We were on vacation, and happened to bump into a guy who is mutual friend and he started to tell us about bitcoin. We were fascinated from day one. At the time we were just re-immersing ourselves inside the tech world, getting into the trnches again."

The twins introduction to bitcoin occurred soon after legal battles against Facebook founder Mark Zuckerberg. The brothers won $65 million in a settlement, after Zuckerberg was accused of stealing their social media idea. With all that behind now, Tyler believes bitcoin is the next big mainstream focus, and that it has the potential to be even bigger than Facebook. He says:

"Bitcoin potentially could be more impactful because being able to donate 50 cents to someonce across the world has more impact that potentially sharing a picture. But they're very different. Facebook is like the internet - a large company and an application. Bitcoin is a protocol for decentralization, so you could build a decentralized company on top of it, a stock market. It's an internet of ownership, so it's not quite a direct comparison."

 As the 32-year-old investor mentions, bitcoin and Facebook are two completely different mediums, however, both work on bringing people to interact with one another through peer-to-peer networking. The brothers remain optimistic that the rest of the world, including Wall Street, will take notice and implement the digital currency. Tyler compares the doubters of the internet from the 1990s, to doubters of bitcoin today. Though the concept is new and some minor bugs need to be worked out, time will show how resourceful bitcoin will be.

Source: coinreport.net

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

The Difference of Bitcoin and Dogecoin

Charts to show how Different Bitcoin and Dogecoin fans really are!

As messages boards and news articles routinely show, bitcoin and dogecoin have attracted markedly differently crowds to the digital currency community.

Bitcoin fans routinely allege that dogecoin's very existence undermines what they consider the overall message of digital currency movement that consumers should be freed from archaic monetary systems, while dogecoin users are quick to point out that bitcoin users can be overly focused on the value of bitcoin against the dollar.

Now, two new graphics have emerged that use the words of the communities' own reddit users to illustrate the differences between the respective groups. Popular terms "people", "money", and "time" dominate the bitcoin subreddit, while in the dogecoin subreddit, words like "dogetipbot", "verify" and "help" are the most common.

Bitcoin emphasizes financial systems

The bitcoin subreddit word cloud includes a wealth of terms related to existing financial systems, suggesting that bitcoin enthusiasts want to see BTC disrupt the global financial system. That, in turn, might cause its price to continue upward.

Words like "transaction", "government" and "bank" show that bitcoin fans on reddit are talking about BTC in terms of how it could be replace fiat systems of monetary value.

Dogecoins focuses on giving

By contrast, the dogecoin subreddit word cloud includes a number of terms related to gratitude. "Help", "thanks" and "community" are some of the more popular expressions used.

The dogecoin community has also created a lingo all of its own with terms such as "shibe", "wow" and "moon" prominently appearing on the chart. This suggest that dogecoin has created a unique community in the short time since its December launch.

Bitcoin versus Dogecoin?

It's hard to put bitcoin and dogecoin in direct competition with one another. Yes, they are based off of the same core software, but they were built for two different reasons. Bitcoin appeared because of distrust over government controlled money, which has been the subject of conversations on its subreddit.

Dogecoin, on the other hand, was started as a joke. No one would have ever thought that it would become so popular, even to the amazement of its creator, Jackson Palmer. And the more carefree conversation in the dogecoin subreddit is a reflection of that.

Source: coindesk.com

World's First Bitcoin Debit Card!

The World's First Bitcoin Debit Card Is Almost Here

Bitcoin may be the future of digital money, but it has a big problem here in the United States: why use it to buy anything when millions of merchants already accept debit and credit cards?

Today, if you want to buy a bottle of lemonade with bitcoins, you need to scan a QR code with your phone or email a long bitcoin address to the seller. For most people, buying with bitcoins just isn’t as easy as Visa or MasterCard.

"You just have one card that you can use verywhere without restrictions."

But that’s set to change in the next two months. Xapo, a company that offers online bitcoin wallets, says it’s two months away from introducing the first debit card that will let you spend your bitcoins at any place that takes Visa or MasterCard.

It’s a sign of bitcoin’s growing maturity, and a look at how the digital currency is slowly integrating with the mainstream financial services industry, thanks to a raft of venture-backed bitcoin startups that are now coming online. There are a few other companies that offer prepaid bitcoin cards, but some of them have a fly-by-night feel. Xapo, it seems, is the first to really link your online bitcoin wallet to a card, and–backed by $20 million in VC funding–it’s on far firmer footing. Unlike others, it also operates out of the United States–though it’s incorporated in Hong Kong.

Here’s how it works. Xapo, a bitcoin wallet provider, is in the process of becoming a debit card issuer on one of the major credit card networks. That means that, like your bank, Xapo, can issue you a debit card number and expiration date. You get the card number for free. If you want them to send you some plastic so you can gas up or buy beer at a corner store with your bitcoins, then they’ll charge you $15.

When you use the Xapo card, the credit card number checks in with Xapo, which approves or declines the transaction, depending on how much bitcoin you have in your wallet. It then sells the bitcoin on the Bitstamp exchange and pays out the merchants just like any other card issuer.

Source: wired.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