Author: Jay Calhoun

Wikipedia Reaches More than $140,000 in Bitcoin Donations

Just one week after their announcement that they will be accepting bitcoin donations, the Wikimedia Foundation–the non-profit organization that manages the world’s largest free online encyclopaedia Wikipedia—made the news again by announcing that they received more than $140,000 or 237 BTC. According to a blog post by Coinbase, the collected amount is a huge sign that bitcoin and the open-source site will prove to be a powerful combination. Coinbase is Wikimedia’s bitcoin payments processor. Two weeks ago, Coinbase also announced that it was abdicating all the fees for non-profit organizations. The company added that they are “particularly excited to...

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UK Treasury Launches Bitcoin Review

In their effort to make London a global center for digital currencies, UK Treasury Chancellor George Osborne launched a review last August 5 to inspect the pros and cons of cryptocurrencies such as Bitcoin. The review is expected to be published before the end of the year. The study will scope out the potential of cryptocurrencies, its roles in business and the society, especially in the context of the overall financial system. To date, the UK government remains tight-lipped about digital currencies, other than from a tax perspective.   Osborne adds that “it is only by harnessing innovations in...

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Yelp Director Donates $10,000 in Bitcoin to Alma Mater

Luther Lowe, Yelp’s Director for Public Policy donated $10,000 worth of bitcoins to his Alma mater—the Arkansas School for Mathematics, Sciences and the Arts (ASMSA)—to create the first ever dedicated cryptocurrency course in the United States. Speaking to Coindesk, Lowe applauded bitcoin and its potential to help enhance the education of students at ASMSA saying that if bitcoin as a technology is going to change everything, then what better place and what better time to teach people about this? The transaction was made through BitPay during ASMSA’s commencement ceremony and the school immediately converted it to fiat. In a...

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Australian Investment Advisers Warn Retirees about Bitcoin

As the world’s most recognized digital currency continue to proliferate, some Australians are turning to cryptocurrencies as an investment to diversify and enhance their retirement savings. Because of its volatility, however, it has raised an alarm among the professional investment community. One financial adviser even said that you have to be a lunatic to do it. Bitcoin’s price fluctuated dramatically since late last year and is currently trading at around $500. In countries like Argentina, the value skyrocketed due to capital control laws. George Lewis of Founder’s Fund was even quoted saying that Bitcoin will reach $2000 by the...

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A Study: The Influence of Social Media on the Price of Bitcoin

Once viewed as a digital currency only for geeks or criminals, a new study conducted by ETH Zurich found out that the public perception of bitcoin is slowly evolving. Postdoctoral fellow David Garcia at ETH Zurich Department of System Design said that “previously, bitcoin were something for hackers and computer nerds. Today, hipsters pay for their drinks with it.” Garcia’s research paper entitled ‘The Digital Traces of Bubbles: Feedback Cycles between Socio-Economic Signals in the Bitcoin Economy’, analyzes how the social dimensions of bitcoin users and their interactions with social media affect its price.   According to the authors:...

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