Bitcoin wallet app QuickCoin doesn’t get into the weeds about block chains, Hashcash and mining. Instead of trying to explain the back-end details of the currency it does one thing, it lets you send money quickly and easily.
The QuickCoin app uses Facebook Login and lets users send Bitcoins quickly and painlessly to friends and family. The service is currently in open beta. It’s browser-based and so far there are no plans for a native Android or iOS app. CEO Nathan Lands says the goal is to make an app for regular people. You just sign in, choose a friend and send them a message with the amount of Bitcoin you owe them.
To ease the pain of sending digital cash, there’s an option to send dollar amounts instead of Bitcoins. It’s like Venmo, but with a currency that’s not tied to a nation.
The CEO admits that there’s a problem paying for goods with the cyber currency. “That’s another thing we’re trying to solve, but that’s down the road,” says Lands.
The bitcoin price recently surged above $590, representing a 64% gain from 10th April. But why?
Peter Galvin's insight:
This article highlights the rise in price of bitcoin in the past few weeks and suggests some possible reasons. The article ultimately concludes that this rise is due to a number of influential factors and that the combination of things such as an increase in bitcoin spending, user adoption and statements released by ebay CEO that indicate their considerations to adopt and integrate bitcoin as another payment option on their transaction pages. Its been a good week or so for bitcoin!!
This is just another helpful video explaining bitcoin and its potential to change the world :) Iv scooped another couple of theses videos too so check out my profile to see them and the documentary clip also!!
The Laureate Trust has announced, via a press release to The Digital Journal, that they expect Bitcoin to pass PayPal in USD transaction volume later this year. The Trust has pointed out that Bitcoin is fast establishing itself as the currency of choice for international internet purchases and payments. Bitcoin has now reached a transaction …
A new survey published by the SecondMarket-owned public investment fund, Bitcoin Investment Trust (BIT), suggests that as the general public learns more about bitcoin, overall optimism about its future financial applications is likely to improve.
Bitcoin is an amazing technology with an insane potential. But there are four things that must appear for that potential to materialize. This is the first in a series of four articles, where we address usability. Bitcoin has been quoted as being to legal tender what BitTorrent was to the copyright monopoly. I believe it […]
Kenyan remittances provider, BitPesa has launched a beta version of its affordable Bitcoin remittance service for Kenyans. BitPesa’s fee will be a flat 3% and will handle transfers on both ends; users buy bitcoins on the one end and recipients receive Kenyan shillings on the other. According to the company’s CEO, Elizabeth Rossiello, “we are taking bitcoin, translating it into the local currency, and dispersing it the way people know.”
“Everybody has a phone,” she said. “You’re on a boat in the Indian Ocean with the fishermen, and they’re checking their text messages.” Kenya also has a higher percentage of citizens with bank accounts that most other places in Africa. “They’re way more financially knowledgeable than people give them credit for. You have to go way into the bush to find people who aren’t.”
According to Kenya’s Central Bank, last year, Kenyans remitted about $1.3 billion back home. In aggregate money transfer fees through services like Western Union and MoneyGram to African countries can be as high as 13% according to the World Bank. Sub Saharan Africa as a region has the world’s highest remittances costs.
Longterm, Rossiello sees BitPesa as being on the leading edge of a financial and technology boom in Kenya that can be helped by the open nature of digital currencies like Bitcoin. “The beauty of the system is it’s decentralized,” she said, “it makes it very easy to use the protocol.”
Many people are closely scrutinizing Apple’s policy changes at its Worldwide Developer Conference yesterday, as Liberty Blitzkrieg's Mike Krieger notes that many within the Bitcoin community are focused on a small recent entry within the section on...
QuickCoin's 'social wallet' allows simple bitcoin transactions between Facebook friends.
Peter Galvin's insight:
As Bitcoin becomes easier to understand and for users to easily adopt - it is only a matter of time before Bitcoin is a mainstream currency. This article describes how Quickcoin propose to ensure that adoption is made as easy as possible for uers using a social networking model that enable users to send and receive bitcoin between friends and current contacts using facebook as the middle man. The ease of use is regarded as the key influential factor.
Bitcoin payments processor BitPay is now processing an average of $1m worth of bitcoin payments per day.
Peter Galvin's insight:
This article illustrates how Bitpay and coinbase are growing and have grown consicerably in the past year. Bitpay are now processing $1m of bitcoin daily and processed $110m last year. The article identifies the benefits of bitcoin processors to merchants such as their security and comfort from volatility issues related with bitcoin. Furthermore the article goes on to demonstrate how many prominent business people such as Richard Branson and Peter Thiel - backing bitcoin company funding with record funding prices being recorded.
Julian Assange, the Wikileaks founder recently spoke at the Net Prophet annual technology and trends conference and said that “Bitcoin is the most intellectually interesting development in the last two years”. Assange, still in asylum at London’s Ecuadorian embassy, has reason to be dissatisfied with the current financial systems. As Wikileaks became more notorious for publishing …
Assange highlights that the decentralised and incorruptible nature of Bitcoin is allowing for breakthroughs in the financial industry and that potentially will change the system that currently exists !! Lik to soundcloud talk by Assange at the botto of the article - quite interesting.
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