Crowdfunding Bitcoin Startups
Prototype Today, Release Tomorrow, Make It Pretty Later
Chyden LLC has been running Pecuniology.com as an educational service since 2009, and we will continue to provide Business education as an integral part of our core mission of promoting economic and financial literacy worldwide. However, we are as much about doing business as we about teaching it. Beginning in early 2013, we are migrating our charitable activities to a new domain name, and focusing this one on crowdfunding Bitcoin startups.
Our first priority here is to be ready to take advantage of the JOBS Act of 2012 as soon as the SEC has released the final rules. The main thing is that if you are planning a startup venture that incorporates Bitcoin, perhaps we can be of assistance.
This self-paced training exercise is an overview of crowdfunding. The
highlighted next steps at the conclusion of the program will help you
apply what you have learned and engage you in the process of
crowdfunding in the USA.
After you familiarize yourself with the crowdfunding process, wherever
you are in the world, when you are ready to begin raising investment
funds in the USA, Chyden LLC's pecuniologists can help:
"Bitcoin is an electronic pseudo-anonymous decentralized crypto-currency.
There. That was a mouthful. But what does it actually mean?"
—Alvaro Feito
After you familiarize yourself with Bitcoin and you are ready to install
a wallet onto your computer, contact us!
links
CoinRegistrar Is in Beta! Chyden LLC, 10 May 2013 "After months of planning, CoinRegistrar—the Bitcoin Address Registry of Trademarked Bitcoin Addresses, CoinMarks—has gone live.
CoinRegistrar is for the Bitcoin user who wants to establish the reputation of a Bitcoin Address as a permanent entity, like a trademark. Unlike anonymous or one-time Bitcoin Addresses used for privacy reasons, a CoinMark serves as a means for establishing one's brand and helping to ensure the integrity of one's Bitcoin Signature, especially when using it to sign contracts." CoinRegistrar
Bitcoin: This Decade's Gold Rush
Prof. Evans, 19 March 2013 "Approximately once per decade, the market experiences a Gold Rush, a once-in-a-lifetime opportunity that, once missed, is gone forever... Bitcoin appears to be such a Gold Rush, especially now that it has received the regulatory green light in the USA." Pecuniology Blog
Bitcoin Primer: What You Need to Know About the New Virtual Currency Sarah E. Needleman and Spencer E. Ante, 8 May 2013 "Bitcoin startups are beginning to raise sizable investment capital even as industry leaders warn that hackers are abusing the Internet virtual currency for profit. Supporters of Bitcoin say it offers anonymity and a cheap way to transact business across borders. But critics say Bitcoin faces so many regulatory and technical hurdles it will never mature into a mainstream currency. Here's what you need to know" Wall Street Journal
The Bitcoin Buzz and How Young Entrepreneurs Are Cashing In Andrea Huspeni, 11 May 2013 "Bitcoin may be a virtual currency, but the buzz it's getting on the street is very real. You can't open a website or newspaper these days without reading about Bitcoin." Entrepreneur
IG Offers Clients the Opportunity to Trade on Bitcoin IG, 7 May 2013 "Australia's largest Contract for Difference (an agreement to exchange the difference in value of a particular asset between the time at which a contract is opened and the time at which it is closed) and Foreign Exchange provider has started offering a limited-risk binary option on Bitcoin. " Press Release
Coinbase Nabs $5M in Biggest Funding for Bitcoin Startup Sarah E. Needleman, 7 May 2013 "Eleven-month-old startup Coinbase announced Tuesday the largest funding round to date for a Bitcoin startup, a $5 million investment led by Union Square Ventures." Wall Street Journal
BitTorrent Goes Legit with New 'Gated' File Format Adrianne Jeffries, 7 May 2013 "BitTorrent, Inc., which invented BitTorrent and owns the most popular client, is releasing a version of the torrent file called the BitTorrent Bundle. The Bundle format allows creators to require an action before users can download. That means creators can require a payment, a pay-what-you-want fee, or email registration, for example." The Verge
Why Tech's Finance Wizards Are Tearing Out Their Hair Ryan Tate, 7 May 2013 "Four hundred days ago Friday, ordinary people won the right to invest in startups through the so-called 'crowdfunding' provisions of the JOBS Act. But 125 days ago, federal securities regulators missed the deadline to explain how they will bring those rights into existence, and now it looks unlikely any crowdfunding will actually happen until the middle of next year." Wired
Accredited Crowdfunding Platforms Granted SEC No-Action Relief from Broker Dealer Registration Simon Riveles, 7 May 2013 "In two recent no-action letters the SEC granted exemptive relief from broker dealer registration to crowdfunding sites accepting only pre-screened accredited investors on the basis that the platforms received carried interest rather than transaction based compensation. " PRWeb
Low-Cost Government Graham Brown, 6 May 2013 "So what of those who need low-cost government, what of those don't have capital or qualifications, where can they go? Nowhere, legally, that's the answer. Now there is the possibility of a start-up city, there is a chance to provide such a place. So what would that look like?" Dreams of Cities blog
Help Wanted: Bitcoin, 3-D Printing, Google Glass Aki Ito, 6 May 2013 "Job postings referencing Bitcoin surged 433 percent in January through March compared to a year earlier, while jobs based on 3-D printing rose 206 percent, according to Elance Inc., a service that connects employers with remote online freelancers." Bloomberg
Coinbase Now Processing $15M per Month in Bitcoin Buys and Sells Coinbase, 6 May 2013 "Back in February we announced that over $1M USD worth of bitcoin was being bought and sold each month on Coinbase. Here we are a little less than 3 months later and we’re now doing $15M USD per month of bitcoin buys and sells." The Coinbase Blog
US Regulators Eye Bitcoin Supervision Tracy Alloway, Gregory Meyer and Stephen Foley, 6 May 2013 "Senior CFTC officials at are discussing whether Bitcoin, the controversial cyber-currency, might fall under their regulatory remit." Financial Times
Lenders May Create Bitcoin Rivals, Says New Zealand Bank Group David Fickling, 5 May 2013 "Commercial banks may create digital currencies to rival Bitcoin, the virtual money whose U.S. dollar value collapsed by 46 percent in 24 hours last month, the head of New Zealand's banking lobby said today. " Bloomberg
Bitcoin on the PayPal Network Jon Matonis, 4 May 2013 "Bitcoin doesn't need PayPal to be mobile, but PayPal probably needs Bitcoin to become seamlessly mobile." Forbes
How Pabst Beer Led to Equity Crowdfunding Jeff Engel, 3 May 2013 "Supporters of equity crowdfunding trace its legalization in the U.S. partly to an attempted crowdfunding purchase of Pabst Brewing Co." The Business Journal (Milwaukee)
Bitcoin vs. Ben Bernanke James Freeman, 2 May 2013 "The chief scientist for the digital currency talks about its appeal--and pitfalls--in a world of fiat money.Wall Street Journal
Waiting for the Bond Bubble to Pop Maureen Farrell, 3 May 2013 "The bond bubble keeps getting bigger, and investors are getting nervous. Junk bond yields have never been this low.CNN Money
Now You Can Buy a Condo in the Trump Hotel With Bitcoins Cadie Thompson, 2 May 2013 "Congratulations, rich people, there's now a luxury marketplace where you can spend your digital currency. BitPremier, an e-commerce site that launched Thursday, accepts only bitcoins (BTC).CNBC
Massive Bitcoin Business Partnership Devolves into $75 Million Lawsuit Adrian Chen, 2 May 2013 "A much-hailed partnership between two of the most prominent players in Bitcoin, Mt. Gox and CoinLab, has devolved into a nasty $75 million lawsuit, which appears to be by far the biggest Bitcoin-related lawsuit ever.Gawker
Crowdfunding 2.0: Where Will It Go? Mercer Bullard, 2 May 2013 "Congress has created a set of rules that will make equity crowdfunding too cumbersome for most businesses, but there is still a chance to get it right.Morningstar
How Porn Links and Ben Bernanke Snuck into Bitcoin's Code Steve Hargreaves and Stacy Cowley, 2 May 2013 "There are coded messages hidden in the ledger that track bitcoin transactions. Most are innocuous, but this week, the discovery of a malicious transmission filled with porn links set the Bitcoin community abuzz.CNN Money
Patrick Murck Discusses Bitcoin With Financial Crime Specialists Jon Matonis, 1 May 2013 "General Counsel at the Bitcoin Foundation and VP of Business Development and General Counsel at CoinLab, Patrick Murck, recorded a podcast on April 26th, 2013 with the Association of Certified Financial Crime Specialists, a group connecting the global financial crime community.The Monetary Future blog
PayPal Eyes Bitcoin's Disruptive Potential Liam Tung, 1 May 2013 "PayPal, eBay's payments subsidiary, may be closer to accepting Bitcoin in the future, with the company saying it is well-placed to exploit the disruptive potential of the virtual currency." Sydney Morning Herald
Living on Bitcoin for a Week: The Journey Begins Kashmir Hill, 1 May 2013 "My editor issued a different challenge to test the currency’s legitimacy: “Don’t just buy Bitcoin. Live on it for a week.” Here’s to hoping I survive on the virtual tokens that promise to make online transactions more anonymous and decentralized." Wired
This 18-Slide Pitch Just Landed Payment Startup Dwolla $16.5 Million Alyson Shontell, 30 April 2013 "Dwolla, a startup that makes it easy and cheap for businesses to collect payments, just raised a $16.5 million Series C round. The company charges $0.25 per transaction, not a percentage like credit card companies, and it has processed more than $1 billion to date. " Business Insider
Big VC Says Bitcoin Is 'Gold 2.0. It's a Huge, Huge, Huge Deal' Jeff Bercovici, 29 April 2013 "Likening Bitcoin to the 'red pill' from the movie The Matrix, which exposes those who take it to a hidden reality, Palihapitiya sounded as bullish as could be during a Q&A at TechCrunch Disrupt NY on Monday morning." Forbes
Here's Why Bitcoin Is the Future of Money Molly Wood, 29 April 2013 "Bitcoin may not last, but crypto-currency is here to stay -- it's only a matter of time before a government replaces paper with more traceable, secure digital money." C|Net
Top Silicon Valley VC: I'm Investing in Bitcoin Startups Alyson Shontell, 29 April 2013 "Chris Dixon, like many other Silicon Valley investors, is really excited about Bitcoin. He says he's invested a significant amount of money into it." SFGate
The Elephant in the Payments Room Jon Matonis, 29 April 2013 "The Internet and mobile payments gold rush is in full swing and venture capitalists are lapping it up." American Banker
The Underground Recovery James SuroWiecki, 29 April 2013 "When we all finished filing our tax returns last week, there was a little something missing: two trillion dollars. That's how much money Americans may have made in the past year that didn't get reported to the I.R.S." The New Yorker
Bitcoin: World's Fastest Growing Currency Migrates off the Internet (Video) Guy Grandjean and Kate Connolly, 26 April 2013 "n Kreuzberg, Berlin, virtual currency Bitcoin has expanded off the internet to become a favoured medium of exchange in real shops and bars. Joerg Platzer, the owner of bar Room 77 is helping to establish what he believes to be the world's first Bitcoin local economy" The Guardian
Here's Why Venture Capitalists Want To Make Bitcoin The 'Next Big Thing' Matthew Boesler, 23 April 2013 "Venture capitalists see a much larger narrative surrounding Bitcoin, and the capital they can put to work shaping the future of this novel currency far exceeds the $1.4 billion of Bitcoin value currently in the system." Business Insider
BitTorrent's Secure Dropbox Alternative Goes Public Ernesto, 23 April 2013 "BitTorrent Inc. has opened up its Sync app to the public today. The new application is free of charge and allows people to securely sync folders to multiple devices using the BitTorrent protocol. Complete control over the storage location of the files and the absence of limits is what sets BitTorrent's solution apart from traditional cloud based synchronization services." TorrentFreak
Bitcoin Foundation Expands Global Media Opportunities Jon Matonis, 22 April 2013 "Established seven short months ago, the Bitcoin Foundation has recruited bitcoin’s lead developer (transparency of compensation is important), launched a grant program for funding bitcoin-related initiatives, and coordinated a showcase conference in San Jose." Forbes
Bitcoins Come to New York City Bar Lesley Greenberg, 22 April 2013 "New York loves to be ahead of the curve and EVR, a bar in midtown Manhattan, is no different. EVR now accepts payment in the form of Bitcoins, digital money that is not tied to any central bank." Washinton Square News
Bitcoins Back above $120 as Wild Swings Continue Tom Bemis, 22 April 2013 "VCs will have three ways to profit, according to Colas: exchanges, service offerings for individuals, and service offerings for businesses." MarketWatch
Yellow Loses Its Lustre The Indian Express, 21 April 2013 "Theories behind Gold Crash 2013: Because something else could be taking its place as a speculative currency—bitcoins." The Indian Express
The Next Big Thing in Crowdfunding? Kickstarting People Dave Girouard, 19 April 2013 "[W]hat skeptics fail to realize is that the motivations of crowdfunding 'investors' are different: These are not quant investors looking to maximize financial returns while minimizing risk and volatility... it's more about cause than cash." Wired
What’s Riskier Than Bitcoins? Bitcoin Companies Michael V. Copeland, 19 April 2013 "Companies such as Coinbase, Coinsetter and BitPay, among others, are getting funding, even as the Bitcoin market itself has shown just how risky the trendy cryptocurrency of the moment can be." Wired
Money Transfers in Bitcoins? Western Union, MoneyGram Weigh the Option Andrew R. Johnson, 18 April 2013 "Western Union Co. and MoneyGram International Inc. are studying ways their customers could use their services to send and receive money transfers denominated in bitcoins, the companies' executives say. " Wall Street Journal
Bitcoin Exchange BitFloor Shuts Down Again Jeremy Kirk, 18 April 2013 "The largest Bitcoin exchange in the U.S., BitFloor, has closed again, this time due to issues with its bank account, according to its founder." IDG News
Bitcoin Plunge Stephen Colbert, 17 April 2013 "The online currency Bitcoin joins a rich tradition of made-up currencies like Camel Cash and the euro. " The Colbert Report
Bitcoins Gain Traction in Argentina Jude Webber, 16 April 2013 "Argentines would love to save in dollars rather than a peso ravaged by inflation and whose value is on the skids, but the government won’t let them... So... Enter the Bitcoin?" Financial Times
More on Crowdfunding and the SEC Jonathan B. Wilsom, 15 April 2013 "Wednesday, April 17th the House Committee on Financial Services will be holding a hearing provocatively entitled, 'Examining the SEC's Failure to Implement Title II of the JOBS Act and its Impact on Economic Growth'. " Point of Law blog
Gold Bulls Endure Bear Market as Goldman Says Sell: Commodities Tony C. Dreibus, 15 April 2013 "Hedge funds and other speculators added to bullish gold bets before the metal slumped into a bear market and Goldman Sachs Group Inc. warned the retreat is accelerating after the longest rally in nine decades." Bloomberg
Gold Tumbles Again: Is the Era of Gold Over? Bernice Napach, 15 April 2013 "Gold plummeted to just below $1,400 an ounce Monday morning, its lowest price since March 2011. " Yahoo! Finance
Bitcoins Crash, Gold and Silver Plunge, What Is Next? Panos Mourdoukoutas, 14 April 2013 "[I]nvestors should keep an eye on high dividend stocks that have been attracting institutional and individual investors alike. A big earnings disappointment could ignite a massive exit across the board, bursting the dividend bubble." Forbes
Bringing Derivatives to Bitcoin Should Help Stabilise the Price Tim Worstall, 12 April 2013 "This is something that all financial economists know and something that just about everyone else disagrees with them on. Having derivatives in a market helps to stabilise prices in that market." Forbes
What We Learn from This Bitcoin Correction Rick Falkvinge, 12 April 2013 "Bitcoin is correcting sharply, as expected. From this episode, we learn (again) that bitcoin is not magic and is not a get-rich-quick scheme, and that the bitcoin financial ecosystem is still terribly insufficient to meet demand." Falkvinge.net
Inside the Bitcoin Economy The Economist, 11 April 2013 "[E]very good in Bitcoinia is an import and every job must be offshored. In that kind of economy, exchange-rate volatility matters a very great deal indeed. But just because that's how Bitcoinia operates now doesn't mean that's how it will operate always and forever." The Economist
As Big Investors Emerge, Bitcoin Gets Ready for Its Close-Up Nathaniel Popper & Peter Lattman, 11 April 2013 "Cameron and Tyler Winklevoss have been many things in a short time: Olympic rowers. Nemeses of Mark Zuckerberg. Characters on “The Simpsons.” Now they can add a new label: bitcoin moguls." New York Times
Six Things That Normal People (and Bitcoiners) Get Dead Wrong about Bitcoin chralash, 10 April2013 "Bitcoin enthusiasts complain that the uninitiated masses make false claims about Bitcoin. This is unequivocally valid... [T]his post will... address misconceptions that come from both sides of the fence, including Bitcoin users." Real Virtual Currency blog
Crowdfunding Market Grew 81% in 2012, Finds Massolution Industry Report Crowdsourcing.org, 8 April 2013 In 2012, "Lending-based crowdfunding grew 111% to $1.2 billion, while donation and rewards-based platforms including Kickstarter and Indiegogo grew 85% to $1.4 billion. Equity-based crowdfunding grew 30% to $116 million." Crowdsourcing.org
NYC Bar To Allow Patrons to Buy Drinks with Bitcoins Mary Beth Quirk, 8 April 2013 "One New York City bar wants to bump Bitcoins into the material realm in a very real way, by allowing customers to use the virtual currency to pay bar tabs." Consumerist
Risky Loans Could Create Second Bubble National Center for Policy Analysis, 8 April 2013 "The Obama administration is pushing banks to make more home loans to people with weaker credit. It was risky loans of this type that creating the housing crash and Great Recession in the first place." National Center for Policy Analysis
Trace Mayer on FOX Business—Why Bitcoin Is Just Getting Started Trace Mayer, 7 April 2013 "I remember the first time I encouraged people to buy Bitcoins it was around a nickel per bitcoin and now it is around $133. So those people who would have followed that advice would have been able to participate in one of the largest bull markets in history and this bull market is not even close to being over." FOX News
Four Reasons Bitcoin Is Worth Studying Timothy B. Lee, 7 April 2013 "Bitcoin is more than a gold standard for the Internet age. It's the world’s first fully decentralized payment system, combining the irreversibility of cash with the convenience of electronic payment. There's never been anything quite like it before, and as a result it poses a number of interesting intellectual puzzles." Forbes
Online Electronics Store Buys into Bitcoins as Sole Currency Jeremy Kirk, 7 April 2013 "Bitcoinstore, which officially launched last month, sells its goods at wholesale prices. Additional savings come from the use of bitcoin as a payment method, which is intended to show retailers such as Amazon.com and NewEgg its utility." PC World
EU Official: Cyprus Was A Special Case, But... Jussi Rosendahl, 6 April 2013 "But there is a very clear hierarchy, at first the shareholders, then possibly the unprotected investments and deposits. However, the limit of 100,000 euros is sacred, deposits smaller than that are always safe." Business Insider
The Ups and Downs of Cyber Currency Bitcoin Steve Henn, 5 April 2013 "Bitcoin is a virtual currency that's traded online. It's been on a wild ride lately, soaring in value during the Cyprus banking crisis." National Public Radio
Bitcoin Utopia? Interest Is Sky High in This Euro Nation Matt Clinch, 5 April 2013 "According to Google Trends, Finland is the country with the most number of Google searches for the word "bitcoin" in the past 12 months." CNBC
JOBS Act Creates Crowdfunding Industry but No IPOs Debra Borchardt, 4 April 2013 "Next week, Mary Jo White goes before the Senate for approval as SEC chief. She's expected to get the nod and would probably be at her desk by month's end." The Street
Bitpay Founder: Bitcoin Has Proven It Can Take A Hit Rob Wile, 4 April 2013 "The way Bitcoin is designed, there are financial incentives for people to cooperate to use it [rather] than attack it. So we recently saw a situation, it wasn't an attack, there was a technical bug in the software, the value of Bitcoin started to decline, people were scrambling to fix problem, it was their money at stake ... I was pretty impressed with the way they handled it. I think [threats are] starting to diminish now that it's been tested multiple times through different kinds of challenges." Business Insider
Four Reasons You Shouldn't Buy Bitcoins Timothy B. Lee, 3 April 2013 "[A]nyone thinking about investing should understand that it's an extremely risky proposition. There's a good chance you'll lose most or all of your money. And with each Bitcoin selling for $120, there isn't nearly as much potential upside as there was a year ago, when you could snap up a Bitcoin for $5. So please, only invest money you can afford to lose." Forbes
BitPay Eclipses Silk Road in Bitcoin Sales with Explosive $5.2M March Jan Jahosky, 2 April 2013 "BitPay Inc, the world’s leading payment processor for bitcoin, announces it has processed over $5.2 million in bitcoin transactions for its merchants during the month of March, with over 5,100 completed invoices during the month. The pace accelerated with over $3 million in transactions during the final 8 days. This eCommerce activity from merchants selling computers, consumer electronics, precious metals, and even government services has likely eclipsed the illicit activity widely estimated from sites like Silk Road." Press Release
Western Union Eyes Digital Currency Services Rachel King, 1 April 2013 "Western Union... once known for telegrams, is now investigating new types of digital transactions and... is looking at the use of digital currencies like Bitcoin as well as the role Western Union can play in other online transactions, from Internet telephony to video gaming..." [Note: This story appears to be legitimate, and not an April Fool joke.] Wall Street Journal
A Visit to Mt. Gox b1tm3, 1 April 2013 "Mt. Gox is the largest bitcoin exchange in the world. Based in Tokyo, the exchange handles a substantial amount of the worlds’ bitcoin trade. Despite this, its offices are unassuming, located in a building on a quiet side street not far from Tokyo’s centrally located Shibuya station. Walking past, you would never notice or suspect that here lies the world’s largest bitcoin exchange, handling billions of USD." b1tm3 blog
How Bitcoin Could Die Alec Liu, 1 April 2013 "[I]f governments were to destroy bitcoin—a potentially gargantuan task in and of itself if we use BitTorrent as a benchmark—the idea would live on." Motherboard blog
No, Bitcoins Aren't In Danger From "Hyperdeflation" Timothy B. Lee, 1 April 2013 "Bitcoin is rarely, if ever, used as a unit of account... [N]o one has Bitcoin-denominated salaries, borrows money in Bitcoins, or pays Bitcoin-denominated rent every month. So the rapidly rising value of Bitcoin isn’t going to cause the kind of economic dislocations that dollar deflation would cause." Forbes
Uneasy Calm in Kenya after Court Ruling on Vote Tom Odula and Rodney Muhumuza, 31 March 2013 "[Kenya] remained mostly peaceful after a court upheld Uhuru Kenyatta's election as president." Yahoo News
Cyprus Anthem (Swedish House Mafia - Don't You Worry Child) Zhou Tonged, 29 March 2013
YouTube Video
Tradehill Exchange Adds Dark Pools of Bitcoin Liquidity Jon Matonis, 28 March 2013 "Tradehill launches dark liquidity, or dark pools, for client institutions and individuals that do not want to reveal their trading size and identity. In trading on dark pools, market participants have the ability to execute large block trades without adversely impacting the price in either direction." Forbes
Entrepreneur Works with Coke's Distribution to Deliver Medicine to Remote African Villages Melissa Knowles, 28 March 2013 "In the 1980s, entrepreneur Simon Barry was an aid worker in remote villages in Zambia, and he became aware of how easy it was to grab a Coke nearly every place he went, but he also noticed how many basic necessities were missing. Barry got the idea to somehow use Coca-Cola's distributing success to deliver lifesaving supplies to the countries most in need." Yahoo News
Bitcoin Is Now a Billion Dollar Industry Adam Estes, 28 March 2013 "A tremendous thing happened in the weird world of bitcoin on Thursday. For the first time in the currency's history, the total value of all bitcoins in circulation topped $1 billion. That's right: A billion bucks, right out of thin air." The Atlantic Wire
E-Gov Link Enables Local Governments to Accept Bitcoin E-Gov Link, 28 March 2013 "E-Gov Link announces integration with Bitcoin in its popular E-Gov suite of products. Now municipalities can offer their citizens another option in paying for services like permits, utilities, class or event registration, shelter reservations, or even parking tickets." Press Release
Bitcoin Bonanza: Cyprus Crisis Boosts Digital Dollars Jeff Cox, 27 March 2013 "The online alternative currency, previously little more than a curiosity in financial markets since its 2009 inception, has zoomed in trading value since the Cyprus banking crisis erupted two weeks ago." CNBC
New Feature: Bitcoin Reimbursement! Ryan Schaffer, 27 March 2013 "Expensify has added Bitcoin as a reimbursement option for your expense reports." Expensify website
Engineering the Bitcoin Gold Rush: An Interview with Yifu Guo, Creator of the First ASIC-Based Miner
Alec Liu, 26 March 2013 "[Q]uietly in the background, a company called Avalon shipped the first ASIC-based bitcoin miners, custom-built rigs with specially-designed chips for efficiently printing the market's hottest commodity, ushering in what can be considered the internet's first gold rush." Motherboard blog
BitPay, Reaching a $2M Milestone in March, Cuts Fees Jon Matonis, 25 March 2013 "Bitcoin payment processor BitPay Inc. today announced its global processing volume for the month of March will exceed $2 million, a milestone for the company. BitPay is also reducing its fees." PaymentsSource
How Debt Ruins Systems: Interview with Nassim Taleb Nick Gillespie, 24 March 2013 "Antifragility is something that likes volatility and likes variation, likes turmoil, likes stress, up to a point. The opposite would be robust. Robust is like a rock. It doesn't care. Diamond is perfectly robust. What is antifragile gains from disorder and may even need disorder for fuel. " Reason
Cyprus Goes Cashless the Hard Way Jon Matonis, 24 March 2013 "[I]t appears that European bailout terms [in Cyprus] could be met by a 20-25% levy on deposits... in excess of... 100,000 euros." Forbes
Web Money Gets Laundering Rule Jeffrey Sparshott, 21 March 2013 "The value of a Bitcoin rose to more than $60 a unit from less than $49 on one exchange following the release of FinCEN's new guidance; a move... attributed partly to a new level of certainty and legitimacy that federal recognition attaches to Bitcoin transactions." Wall Street Journal
Fleeing the Euro for Bitcoins Kirsten Salyer, 20 March 2013 "Worried your government is going to take your savings? There's an app for that... Actually, there's an entire currency: Bitcoin" Bloomberg
Bitcoin Interest Spikes in Spain as Cyprus Financial Crisis Grows Ian Steadman, 20 March 2013 "If you think your savings are under threat—from a banking collapse, government seizure or anything else—the traditional thing to do is withdraw your cash and stick it under a mattress. But could Europeans scared of losing their cash be turning to Bitcoins instead?" Wired UK
Waiting for the Crowd's Cash David Rosenbaum, 19 March 2013 "With the anniversary of the JOBS Act fast approaching, the SEC still has not released the rules that will make equity crowdfunding possible. But when it does, these entrepreneurs will be ready." CFO.com
New Money Laundering Guidelines Are a Positive Sign for Bitcoin Timothy B. Lee, 19 March 2013 "Reading between the lines, FinCEN is saying that if Bitcoin-based businesses fill out some paperwork and collect some information about their customers, then they'll be left alone." Forbes
Guidance: Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies Financial Crimes Enforcement Network (FinCEN), 18 March 2013 "A user of virtual currency is not an MSB under FinCEN's regulations and therefore is not subject to MSB registration, reporting, and recordkeeping regulations. However, an administrator or exchanger is an MSB under FinCEN's regulations, specifically, a money transmitter, unless a limitation to or exemption from the definition applies to the person. An administrator or exchanger is not a provider or seller of prepaid access, or a dealer in foreign exchange, under FinCEN's regulations." FinCEN
SC5 Pays Salaries in Bitcoin Martti Malmi, 15 March 2013 "We have started to provide our employees with the option to have a part of their salary paid in the peer-to-peer currency Bitcoin... We also welcome Bitcoin payments from our customers!" SC5.fi
Startup Fever Getting Hotter across the Caribbean… Martinique, Trinidad, Jamaica Ingrid Riley, 12 March 2013 "First there was Martinique, now Jamaica and Trinidad are launching their Startup weekends in 2013... Startup Weekend is an organization with global presence that is sponsored by the Kauffman Foundation and has Google and Microsoft as its partners." Silicon Caribe
SXSW: How Mobile Devices Are Changing Africa Nick Kolakowski, 9 March 2013 "From micro-payments to education, mobile-device platforms are transforming how Africans work and live." Slashdot
First Bitcoin Hedge Fund Launches from Malta Jon Matonis, 8 March 2013 "Although any person or entity can acquire and store bitcoins on their own, institutional investors are typically restricted in the types of assets available within their investment charter. Similar to a mutual fund or hedge fund for alternative assets, Exante's Bitcoin Fund permits institutions and high-net worth individuals to access the vibrant bitcoin market with a licensed product and this alone is an innovative development." Forbes