Bitcoin API Startup Gem Raises Funding Total to $3.3 Million

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Californian bitcoin API developer Gem has announced an additional $1.3m in funding, raising its total to $3.3m. The round was led by KEC Ventures, with additional contributions from First Round Capital, RRE Ventures– also an investor in 21 Inc and Abra – and early Facebook investor Robert Wolfson, among others. Gem closed its previous round in September last year after receiving funds from Mesa Ventures, Idealab, James Joaquin and Brock Pierce’s investment firm, Crypto Currency Partners. A spokesperson for the platform said the newly acquired funds would be used to accelerate feature development and scale Gem’s services for developers worldwide. Multi-sig wallet  Gem’s funding coincides with the launch of its multi-signature wallet API, which is now publicly available following a series of improvements. Approximately 40% of people using Gem’s API are from outside the United States – dispersed throughout Europe, Asia and South America. The new API aims to ease integration for this worldwide user base, while providing added security measures to protect bitcoin wallets and keys. Ken Miller, COO at Gem, said the security improvements had taken “massive amounts of time and energy to bring to the market”. However, he added: “It just was not an area we were willing to compromise.” The system now uses Hardware Security …

5 Ways to Buy Bitcoin with Paypal – Scams and Legit ways

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  There’s no news to the fact that Paypal has been denying people the ability to buy Bitcoins with their services. It’s written loud and clear in Paypal’s TOS that they do not cover digital goods and this leads to the issue of chargeback. Hence anyone trying to sell Bitcoin with Paypal will probably be suspended from Paypal. Having said that, there are still a few options to be able to purchase Bitcoins through the use of a Paypal account. Most of them are far from perfect but if you need to acquire a small amount and it’s a one time thing you may want to consider them. Option 1 – Buy Bitcoins with Paypal through Virwox This is probably the oldest and most tried out system in the book. We’ve written about this method many times and it seems to work pretty good. The main cons of buying through Virwox is that the fees are extremely high (can amount to around %15) and sometimes you just don’t get approved. The pros is that it’s tried and tested, meaning low scam possibility. Option 2 – Buy Bitcoins with Paypal through Local Bitcoins Local Bitcoins is a market place of buyers and sellers of …

Bitcoin Advocates Back Petition for BitLicense Safe Harbor Provision

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More than 70 digital currency industry businesses, executives and advocates are backing a petition that calls for the easing or eradication of allegedly onerous components of New York’s BitLicense proposal. Submitted as part of a recently closed public comment period, the measure has so far garnered support from companies such as Coinbase,Blockstream, BitPay, Circle and Ripple Labs, as well as notable developers and venture capitalists. Overall, the petition seeks to convey the argument that it is “unreasonable” for the New York State Department of Financial Services (NYDFS) to apply its provisions equally across the industry, arguing that creators of open-source protocols, micropayments providers, security intermediaries and smaller entrepreneurs should be excluded from certain coverage. Penned by Coin Center’s Aaron Wright and Yale Law School’s Elizabeth Stark, the authors are still collecting signatures in an effort to galvanize attention around the issue. Stark told CoinDesk: “The goal here was to bring a substantial part of the community to one proposal as opposed to different proposals so that there’s strength in numbers.” Stark and Wright were inspired to put together the proposal due to what Stark called their shared interest in Internet history and the belief that safe harbor policies such as this played an instrumental …

Spare Change-to-Bitcoin Service Lawnmower Aims for Main Street Investor Appeal

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“There’s a metaphor to it,” CEO Pieter Gorsira explains, addressing his startup Lawnmower, and its, by bitcoin industry standards, unconventional name. If the name Lawnmower at first keeps users at a distance, however, the explanation does much to illuminate the novel concept the Boost VC startup is hoping will help it become a low-risk bitcoin investment solution. “Working backwards, it’s like we’re running the lawnmower over the grass and we’re clipping off a little bit of change. So, as you go along, we slice all these little blades of grass and collect change from these transactions,” Gorsira continued. Put more directly, Lawnmower uses an API developed by Spark Capital-backed Plaid to connect to users’ online banking accounts at Bank of America, Chase, Wells Fargo, Citibank and US Bank. From there, Lawnmower watches its users’ accounts for transactions, rounding up the purchase of say a $3.50 latte to $4 and saving that 50 cents for later. Once users have accumulated at least $4 in total savings through small debit or credit purchases, Lawnmower purchases bitcoin on behalf of the user. The effect, according to Gorsira, is a solution to bitcoin’s volatility that also allows investors a chance to get exposed to its potential …

Bitcoin and iGaming: Disruption Comes From Your Blind Spot

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Bitcoin and iGaming: Disruption Comes From Your Blind Spot Jon Matonis (@jonmatonis) | Published on March 14, 2015 at 13:30 GMT It has often been said that . But what does that really mean? For starters, it means that online gaming, more than anything else, is all about the customer experience. Whether it’s a land-based >provides all three. I recently made the prediction that within five years, half of the top 10 iGaming operators will be BITCOIN-only. Of course, the mainstream operators don’t see it that way and I wouldn’t expect them to. They have a profitable and expanding business model with national fiat currencies. Why would they want to disrupt that revenue stream? Funny thing about disruption though is that it rarely comes from within. Disruption comes from your blind spot. While major iGaming and industry conferences in the west have paid lip service to bitcoin and cryptocurrencies as alternative payment methods, they have simultaneously relegated it to a niche solution where presentations are neatly tucked away in a side corner. Kodak did the same thing after surprisingly inventing the first digital camera in 1975. Reshaping the iGaming market The grand opportunity with bitcoin is not with the major operators, …

Bitcoin Anywhere: A Bitcoin to Credit Card Gateway From Abine and Coinbase

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Bitcoin Anywhere: A Bitcoin to Credit Card Gateway From Abine and Coinbase by CoinGreed on March 10, 2015 Abine announced the release of Bitcoin Anywhere, a new service that lets users spend bitcoin at all online merchants that accept MasterCard. The service, currently in an invite-only beta, permits funding of a Blur “Masked Card” from a Coinbase wallet. Currently, Bitcoin Anywhere is available only to invited users of Abine’s Blur premium service. Blur Masked Cards are one-time MasterCards created on-the-fly by Abine, which can be used at all online merchants that accept MasterCard, which, in practice, means all online merchants. Masked cards don’t compromise the user’s real name and address and have a built-in limit to avoid hidden charges. “When a user makes a Masked Card, we are issuing a limited-balance, limited-duration credit card for that transaction. When you generate a masked card we charge your funding source,” said Andrew Sudbury, Abine co-founder and CTO. Bitcoin Anywhere aims to make bitcoin payments widespread by automatically signing up all online merchants. Only the users know that they are paying with bitcoin, whereas the merchants continue to use their credit card payment systems. The Abine announcement notes that leading venture capitalists invest …