Western Union Eyes Digital Currency Services

Hint: April Fools

Western Union, facing growing competition by startups offering mobile and online payments, is trying to transform its business for the digital generation. The company, once known for telegrams, is now investigating new types of digital transactions and investing in analytics to help the company adjust pricing for its electronic money transfer services.

The company is looking at the use of digital currencies like Bitcoin as well as the role Western Union can play in other online transactions, from Internet telephony to video gaming–a far cry from its current business offerings of money transfer, bill pay and prepaid cards. “If you want to top up a Skype account or add value to an online gaming platform, those are the kinds of partnerships I’m working to develop,” said David Thompson, executive vice president of global operations and CIO at Western Union. Read More

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April first 2013 – Bitcoin Hits 100$

It’s just a number, but it’s a good sign. Bitcoin has come from a little more than ten dollars to a hundred dollars in 2013. Remember this day and celebrate it!

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Does the Internet Depend on the Survival of Bitcoin?

The market capitalization for Bitcoin has exceeded $1 billion so people are asking: What’s next?

We can see the growth pattern for adoption of this new virtual money take off in places where there is financial stress. In Cyprus, people were desperate to obtain as many bitcoins as they could ahead of deposit confiscations. In Cyprus and other EU countries where the Troika (EU, ECB, and IMF) have providence over these country’s sovereign governments, there is growing alarm and a growing scramble for bitcoins.

Bitcoin is not subject to government control or manipulation like the popular fiat currencies in the world; the U.S. dollar, euro, yen, pound and renminbi, so its value is the result of its utility as money (see my; “Is Bitcoin Money“).

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Tradehill Exchange Adds Dark Pools Of Bitcoin Liquidity

This week the bitcoin exchange Tradehill launches dark liquidity, or dark pools, for client institutions and individuals that do not want to reveal their trading size and identity. In trading on dark pools, market participants have the ability to execute large block trades without adversely impacting the price in either direction.

Based in San Francisco, Tradehill Inc. has relaunched successfully as a business-to-business bitcoin exchange for institutional investors and individuals qualifying as accredited investors. The original Tradehill founded by CEO Jered Kenna in 2011 had operations in the U.S. and Chile and maintained a consistent second position in daily trading volume after Mt. Gox.

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BBC: Could virtual cash replace money?

Virtual currency Bitcoin has trebled in value, as the financial crisis in Cyprus and beyond shakes consumer confidence in traditional banks.

Bitcoins are earned online, by completing difficult computing tasks, and exchanged between people directly, bypassing banks. Because they are stateless, they cannot be taxed, frozen or easily traced.

Some experts think Bitcoin could be the first step in a virtual money evolution.

Joe Lynam reports.


Watch the Video

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Bitstamp is offline right now

www.bitstamp.net Seems to be offline right now, no known reason as of this moment. Bitstamp officials, just like anybody else can post here if any information is published. We’ll update as soon as anything is known.

EDIT: Cloudflare is having problems, leaving some regions unable to reach Bitstamp.

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Bitcoin VC explains $1B valuation

The virtual currency Bitcoin reached a total market valuation of $1 billion Thursday, and today Adam Draper, the founder of Boost VC, which backs bitcoin-related startups and others, published five reasons why this crypto-currency market has reached the “one thousand million” dollar mark.

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Posted in Opinion & Bitcoin