Bitcoin Exchanges in India get Shut Down

The Reserve Bank of India (RBI) has declared the use of bitcoins can be classified as “illegal and illicit” activity. Following this announcement, Bitcoin exchanges throughout India were shut down. According to the RBI, “The absence of information of counter parties in such peer-to-peer anonymous/pseudonymous systems could subject the users to unintentional breaches of anti-money laundering and combating the financing of…

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Bitcoins Can Now be used for Crowdfunding in South America

A group in Argentina has creating the first crowdfunding platform that will accept bitcoins. This move once again works to expand the usage of bitcoins, making them more popular. The platform is currently called Idea.me, and it is set up mostly for artists, musicians and retail projects. Although not philanthropic as a whole, most of the projects have a charitable angle.…

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Overstock.com Plans to Accept Bitcoins

To the delight of many, Overstock.com has recently announced they will start accepting bitcoins as a form of payment next year. While the official statement is that they will begin accepting them in the second half of next year, Patrick Byrne, CEO of overstock.com asserts the change could happen as early as four months from now. Currently, overstock.com brings in…

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5 Bitcoin Startups to Watch

The growing popularity of bitcoins has led to the widespread increase in startups that base their business on services for bitcoin users. Each day there are more to watch out for. Here are 5 Bitcoin Startups that have some momentum: 1. Gliph. Gliph is a text message app that allows you to transact with others from your mobile device. You can…

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The U.S. Government’s Digital Bitcoin Wallet

In October 2013, the FBI arrested Ross William Ulbricht, the owner of Silk Road. Silk Road is an internet-only black market. In addition to arresting him, the government seized his assets, which included a digital wallet with 144,336 bitcoins. This is worth approximately $86 million in US currency. The government also has possession of another digital bitcoin wallet containing 30,000…

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Coinbase Reels in $25 Million Funding Round

Coinbase provides secure accounts for those that use bitcoins. Users can use these accounts to store bitcoins, as well as make and accept payments. Their user base has been growing by approximately 31% each month. Unlike many other bitcoin startups, Coinbase is actively working to get licenses with state regulators. Bitcoins are an unregulated digital currency. The creators of bitcoins…

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