Google ‘Accepts’ Bitcoin With Payments API Update It looks like Google has finally jumped on the Bitcoin bandwagon. In a new update to its popular Payment Request API, the tech titan added the ability to request bitcoin payments. This news came with little fanfare, just a small blip in a much larger API update from Web Fundamentals contributor Matt Gaundry. The update mainly consisted of a tutorial on how to use the new features of the update. Towards the bottom of the blog post, Gaundry explained how the API can be used: “Invalid Currency: The currency code must be three uppercase characters; passing in anything else will throw an error. ‘Payment Request’: ‘…’ is not a valid ISO 4217 currency code, should be 3 upper case letters [A-Z] You can pass in any three chara
Though Bitcoin was created eight years ago, the currency is just starting to attract largescale mainstream attention. The digital currency uses Blockchain technology for a safer and more efficient way of transacting online without the use of banks or credit cards. In an interview by PBS, Don Tapscott discusses potential uses of Blockchain technology. Tapscott is the co-author of the book entitled “Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.” Watch the interview below: Pundits and investing professionals have called Bitcoin a bubble, since the price has increased an unbelievable 700% over the past year. While many wonder if such growth is is sustainable, Tapscott explains that the technology that powers Bitcoin is
Price Analysis Many experts have called the stupendous rally in the cryptocurrencies as a bubble. Notwithstanding, the digital currencies have continued their uptrend. However, as we know, nothing can go up for ever. Gravity will catch up and there are bound to be corrections in between, which will offer a good entry point again. However, sometimes the corrections can be unnerving and can cause a large dent to the portfolio. So, has the time come to cash in some profits and be ready for a downturn or is this another of those consolidations that will breakout on the upside? Let’s see the charts and try to forecast. BTC/USD Buyers continue to support Bitcoin close to the trendline support of the ascending channel. However, bears are attempting to defend the $4695 level, w
The Isle of Man is opening its doors to entrepreneurs looking to launch initial coin offerings (ICO). In an interview today, Brian Donegan, head of operations for fintech and digital development at the Isle of Man's Department of Economic Development, told CoinDesk that the British Crown dependency has created a regulatory framework it believes will allow for token sales that are compliant with anti-money laundering and know-your-customer regulations. The Isle of Man's government has yet to formally announce the development, though it's been moving in this direction for some time. The framework itself is based on anti-money laundering rules put in place in 2014 and 2015, Donegan said. While regulators in places like Canada have offered some on-ramps for...
The cryptocurrency market is a sea of red today, a development skeptics will no doubt quickly use to make the case against bitcoin as a 21st century gold. In times of economic or political stress, investors prefer to hold safe haven assets, and while many experts believe bitcoin is the new safe haven, today's dismal performance contradicts such claims. The cryptocurrency dropped 5 percent over the last 24 hours, even while North Korea's nuclear test and heightened geopolitical tensions pushed up traditional safe haven assets like gold, Japanese Yen. Overall, bitcoin (BTC) clocked an intraday low of $4,253 earlier today, and was trading around $4,335 levels on news China has banned initial coin offerings, one of the main trends powering this year's boom. Still, the price declin...
What is Bitcoin? With the Bitcoin price so volatile everyone is curious. Bitcoin, the category creator of blockchain technology, is the World Wide Ledger yet extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence. Beware of the confusingly similar Bcash, BCH, Bitcoin Cash project. Who created Bitcoin? The firs...
Investors Pull Billions from Stocks As New Bitcoin, Crypto Options Appear The withdrawal of funds from stocks and precious metals has coincided with the massive price increase of Bitcoin and other cryptocurrencies. It seems that investors have realized that Bitcoin is a more stable ‘store of value’ investment than gold. CNBC has reported that the stock market has seen the largest withdrawal rate since 2004, with more than $30 bln being taken out of the markets over the past 10 weeks. The major withdrawal also included a huge abandoning of precious metals. Precious metals at loss Private client allocation to precious metals has seen a massive reduction, with portfolios holding 10 percent in 2013 being reduced to below two percent in recent weeks. (source: BofA Merrill L
Since bitcoin cash split from the bitcoin blockchain, miners have had a choice: which of two blockchains to mine? At play in their considerations are two factors: ideology and profitability. But while it's possible some miners are choosing bitcoin or bitcoin cash based on preference, a certain contingent seem to be following the money. How do we know? At block 481,824 yesterday, the bitcoin cash blockchain saw a notable difficulty adjustment. At the time, blocks were being found on bitcoin cash at a rate of about one 1-2 minutes, or less. As a result, the difficulty went up by 300%, the maximum allowed under the difficulty adjustment rules. Both bitcoin and bitcoin cash adjust difficulty downward every 2,016 blocks, though in the case of bitcoin cash, the length o
On Aug. 5, less than four days after the Bitcoin Cash (BCH) hard fork, Bitcoin price surged drastically within a 24-hour period, recording a new all-time high at $3,212. Previously, Bitcoin price broke the $3,000 mark mostly due to optimism surrounding the activation of the Bitcoin Core development team’s transaction malleability fix and scaling solution Segregated Witness (SegWit). However, shortly after that, a major market correction led Bitcoin price to fall to $1,900, and it stabilized at around $2,500 amidst uncertainty regarding SegWit and the execution of the BCH hard fork, which was initially proposed by Bitcoin mining equipment manufacturer Bitmain. Malleability As Cointelegraph previously reported, various SegWit experts including Blockstack co-founder Ryan Shea
American Express Brings Credit Card Buying to Bitcoin App Abra Beginning today, a select group of Abra users and new customers will see the option to buy bitcoin with their American Express card. The months-long integration process between the two companies involved Abra exposing the depths of its business processes to its partner and investor, and has resulted in an even closer relationship between the firms. Still, Abra founder and CEO Bill Barhydt believes the end result of that effort could be a rapid acceleration of bitcoin adoption globally. Barhydt told CoinDesk: "Abra has to become effectively an American Express processor internally in order to do this, because we're processing directly with American Express. There's no third-party acquirer