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With the Bitcoin exchange-rate surging through $600 (Cad) on the weekend and a report last week suggesting that Bitcoin transaction volume will soon surpass PayPal, I thought now would be a good time to share some recent news and the very profound comments of Netscape founder Mark Andreesen, who stated in an interview last week that "if we had had this technology 20 years ago, we would've built it into the browser." According to Andreesen, there's "no reason on earth for anybody to be on the Internet today to be typing in a credit card number to buy something" ... "That's just an invitation to fraud and identity theft. It's just stupid." The Bitcoin technology has not only launched a global conversation about 'faith based' currencies and the handful of men behind-the-curtain who control and create them, it has caused innovators and entrepreneurs to consider how the blockchain can be used to store and track contracts, including legal and financial agreements, equities and bonds, and even titles to houses and cars! The future of money is here - so what's your strategy? The Sovereign Bitcoin Exchange can connect your business to a rich new audience that bids with sound money - the account is FREE to activate and there's never a cash transaction fee. We can also connect you to online and offline wallets and storage systems, exchange operators, and to a hand-held payment terminal that doubles as an ATM. Please contact me with your questions and we'll help you get started. Cheers!
Andreesen: In 20 years, we'll talk about Bitcoin like we talk about the Internet today
"Bitcoin didn't come from Citibank; it didn't come from the Federal Reserve; it didn't come from Visa. It came from the fringe. And now Bitcoin is in the early stages of mainstreaming today. And the signs that it's in the early stages of mainstreaming are mainstream venture capital firms funding mainstream startups, employing mainstream engineers to build services that'll be used by mainstream people. You've got big companies that are not yet doing a lot with it, but are looking very seriously at it. So every big bank has people that are trying to figure out what to do with Bitcoin; every big e-commerce company has people that are trying to figure out Bitcoin."
Sir Richard Makes a Big Bet on Bitcoin
Today BitPay announces the completion of a Series A funding round of $30 million, bringing their total investment to $32.7million. The effort led by Index Ventures brought several rock star investors including Virgin's Sir Richard Branson, Jerry Yang, co-founder of Yahoo, and Jim Robinson of RRE Ventures. The majority of (the 30,000) companies using BitPay to accept bitcoin are small businesses that are benefitting from lower transaction fees, faster service, and increased security for fraudulent transactions.
Bitcoin's Newest Merchant: Peter Schiff
Euro Pacific Precious Metals, one the world's largest gold and silver dealers by volume, announced today that it is accepting Bitcoin through merchant processor BitPay. In an interview with CoinDesk, Schiff framed his companys move as more strategic to its business goals than supportive of Bitcoin itself.
Former US Mint Chief: Bitcoin Removes Government Monopolies
Edmund C. Moy, the former director of the US Mint, made waves in the bitcoin community this week. Perhaps most notably, Moy suggested that digital currencies can even help prevent some of the more severe drawbacks associated with fiat currencies. In particular, he predicts it will eliminate what he views as the government monopoly on money, writing: "It has a low risk of collapse unlike a sovereign governments currency (just ask the Greeks or more broadly, the European Union)."
Canadian Lawyer Plans World's First Book on Bitcoin Law
Duhaime believes bitcoin could play a big role in crime prevention and she plans to explore both the legal perils of bitcoin and its promises.
"For example, the £4bn carbon credit frauds that took place in the European Union could have been prevented if carbon credit exchanges were operated on the bitcoin protocol because it has built-in fraud prevention mechanisms, something that is not well-known," she explained.
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Sovereign Bitcoin Exchange Inc.
Steven Merrill, President
www.sovereignize.net
phone:
778.835.7667
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Engage a Rich New Audience; Reconcile to your Private Account; Settle for Metal at Any Time. The Sovereign Exchange was founded by Steven Merrill and a small network of individuals from across British Columbia with a vision to embrace Austrian economic principles and provide a sound and stable payment facility than be trusted for commerce and used to store wealth.
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