Don't Laugh - Bitcoin is making a serious point says Liam Halligan in the UK's Telegraph. An interesting article not only for its look at the Eurozone's move towards renewed money-printing but for the fact this mainstream, and traditionally right-leaning, newspaper is taking a positive stance towards bitcoin (so often associated with less conservative, libertarian ideals) Worth a read to see why bitcoin might gain even more ground in Europe.
The European Central Bank has acted. Across the 17-nation eurozone, the benchmark refinancing rate was slashed on Thursday, from 0.5pc to a record low of 0.25pc. In Greece, Spain and other economically-fragile eurozone members, where inflation is worryingly low, many welcomed the ECB’s action. In Germany, with its historic inflation aversion, Teutonic eyebrows were raised.
What’s beyond debate is that this latest ECB move is the prelude to a renewed round of money-printing. While America’s quantitative easing is meant to be “tapering soon”, in Western Europe the funny-money dials have just been turned up.
The number of merchants accepting the currency has risen again. This time by a huge 70,000 thanks to Shopify now offering its customers the payment option. Jon Southurst at Coin Desk writes how the move boosts the widening acceptance of bitcoin.
CEO and co-founder at Gyft, Vinny Lingham has publicly thanked the bitcoin community for their support in an open letter on r/Bitcoin.
Firstly, I want to thank the r/Bitcoin community for their continued support since we first launched Bitcoin as a payment method 6 months ago. You guys have been awesome and a big thanks for helping to build us up to become a leading mobile gift card retailer in the USA (rest of world to follow soon...), and as a result of your support, we were also able to raise a $5m Series A investment that we announced a few months ago.
We have been getting a ton of enquiries from all our users, including Bitcoiners, to bring more big brands on board (we have about 200 already!) and I thought I would take a few minutes to explain our business, along with some of our unique challenges and how you can help us, help you!
A while a go we wrote about the growth in crowdfunding and how well the model aligns with bitcoin. Well, according to an industry report, there's an 81% rise in crowdfunding volumes forecast. Is this the new way to democratise where our money is invested and which projects get our support?
We have a penchant for charts and graphs in this place - just check out our analysis. Here's one we found, which we think you might be interested in too by Robert A. Ferdman and David Yanofsky at Quartz.
At the start of this year, on January 2, 2013, gold was trading at $1,687.90 per toz, and bitcoins were priced at just under $13.30 each. A bitcoin exchanged for dollars then used to buy gold on that day gave the buyer 0.0079 toz of gold. Today that same exchange buys 0.2675 toz of gold, an amount about the size of a penny.
It's known that one of the keys to bitcoin's success is mainstream adoption and of course, the other is maintaining that adoption through to the next generations. So, it's encouraging to find children as young as 9 years-old have helped compile this new offering from BitKidz, a brand new book series by kids for kids introducing bitcoin and all its possibilities. Step aside Gen Y and say hello to Gen X and beyond...