Cryptocurrency News for 25 Sep 2017

Unverified Rumor Circulating That Amazon May Accept Bitcoin By October

Rumors are circulating that Amazon may begin accepting Bitcoin as a payment method this October. The rumors appear to stem from a recent report on squawker.org, Some surveys have indicated that the company would have a financial reason to do so, but no official announcement has been made.

The squawker.org article references a mention in investor James Altucher’s newsletter. According to the source, Altucher is an experienced trader who many believe could have pre-announcement information. The article comments:

"James Altucher has (co)founded more than 20 companies, authored 11 books, and has been a contributor to several major publications.He is a former hedge fund manager and venture capitalist turned activist blogger/podcaster and offers a subscription based mailing list - the source of the Amazon information."

Such an announcement is a long shot, but isn’t inconceivable. As online retailers begin to embrace Bitcoin, Amazon will likely respond in kind, in order to maintain its dominance. Overstock CEO Patrick Byrne said:

"They have to follow suit. I’d be stunned if they don’t, because they can’t just cede that part of the market to us, if we’re the only main, large retail site accepting Bitcoin."

Full story at http://bit.ly/2jYP2ye

Source: CoinTelegraph

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Big Governments Won't Kill Bitcoin Or Uber

Big governments and the institutions that align behind them -- big banks and big unions -- have scaled up the campaign against Bitcoin and Uber recently. Russia has been added to the list of countries that are trying to limit the spread of Bitcoin, as London is added to the list of local and national governments that banned Uber's operations.

There’s a good reason big governments have been going after Bitcoin and Uber. They are innovations that challenge the status quo, the power of elites to write the rules that advance their own interests at the expense of the people at large.

Bitcoin has emerged as a "people's currency," an alternative to national currencies, freed of the control of central banks and banks. And that means a loss of seigniorage income for governments—the benefits derived from printing money and from controlling the economy, as discussed in a previous piece here.That's why big governments from China to Russia -- and smaller governments like Venezuela -- have been trying to crush it. How? By banning Initial Coin Offerings (ICOs), by closing Bitcoin exchanges, and by going after Bitcoin developers.

And it seems they are succeeding it, with the digital currency having lost close to 30 percent of its value in a matter of days.

Full story at http://bit.ly/2jXRHIo

Source: Forbes

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How Shanghai Govt Came To Forcing All Bitcoin Trading to Stop: The Insider Story

Sept. 22, The Paper news agency reported that the Chinese regulators not only banned the exchange between Bitcoin and other cryptocurrencies and the Chinese Yuan, but they also called for all trading of cryptocurrency to any fiat currency to end.

This carries the implication that all exchanges have effectively been banned.

Furthermore, the regulators in Shanghai have asked for the top management of the exchanges, including the executives, directors, finance team and technical team members, to stay in Shanghai to cooperate for the clean-up activity.

Previously, the Beijing regulators still did not call for trading in all fiat currency to be stopped. However, it was noticed that on Sept. 15 both OKCoin and HuoBi first announced that all cryptocurrency trading in Chinese Yuan will end. The next day, both exchanges modified their announcements respectively to include a plan to end all cryptocurrency trading activities.

Full story at http://bit.ly/2jYP2hI

Source: CoinTelegraph

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I bought bitcoin at a deli — here's how it works

At first glance, Mario's Gourmet Deli, a New York City bodega on the corner of West 106th Street and Amsterdam Avenue, looks like a regular corner store.

But inside there's an ATM that gives folks access to what some view as the future of payments and finance: bitcoin.

The recently installed ATM was featured in a New Yorker piece by Ian Parker, who described it as a "machine with the body of a regular ATM but the soul of a lottery terminal."

I paid the deli a visit to buy some bitcoin, the digital coin that's up near 500% over the last year. Here's what it was like.

Full story at http://read.bi/2jYP3lM

Source: Business Insider Nordic

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Vivid History: 'How Money Got Free' Is the Untold Story of Bitcoin

An early bitcoin developer and entrepreneur, Alex Waters served as COO and CIO for bitcoin exchange startup BitInstant. Later going on to start several bitcoin ventures, he was also at the forefront of efforts to boost its regulatory compliance.

In this opinion piece, Waters reviews "How Money Got Free: Bitcoin and the Fight for the Future of Finance" (Oneworld Publications), arguing it captures the zeitgeist of the original cryptocurrency and the sprawling – all too human – movement that helped it reach the masses.

I have long suspected, owing to its sheer brilliance and idiosyncratic beauty, that bitcoin was in fact brought here by aliens from another planet.

Brian Patrick Eha's vivid history of bitcoin, "How Money Got Free: Bitcoin and the Fight for the Future of Finance," which captures in thrilling journalistic fashion what I experienced in my years working on this remarkable technology, only confirms my suspicions.

Full story at http://bit.ly/2jVsBtK

Source: CoinDesk

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Does Bitcoin Meet the Test for Being Money?

Investor pro Doug Casey, founder of Casey Research, has changed his perspective on what Bitcoin is and is not. Previously, Casey held a mixed view of cryptocurrencies, doubting if they had the basic principles that make a currency.

However, after further research and consideration, Casey has affirmed his view that Bitcoin is, indeed, money. This evaluation is based on five principles that make up a currency - durability, consistency, divisibility, convenience and usability.

Among these five criteria, Casey says, he has always believed that Bitcoin meets all of them nicely, with the exception of usability. His concern previously was that Bitcoin had little real-world use cases. Casey, however, has changed his mind, saying:

“The problem I had with Bitcoin to start with was the fifth point: does it have use value in itself, so you can’t get stuck holding the bag? And I said that was the problem with Bitcoin. But I was wrong about that… The bottom line, Bitcoin passes the medium of exchange test for the moment and store of value test for the moment. So you can definitely say it’s money—for the moment.”

Full story at http://bit.ly/2ylTKrR

Source: CoinTelegraph

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