The Five Most Confusing Things About Bitcoin That Hold Back Its Adoption

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Bitcoin has been around now for eight years and is maturing with a sizeable market capitalization, with more than 25 mln wallets in circulation. Adoption has benefited from post-Brexit activities, the U.S. elections and in the past week has been further boosted by events in China with currency exit and with India’s new currency reforms. Things are hotting up for Bitcoin. But is terminology holding it back? Misleading language The language used by the Bitcoin and Blockchain communities is misleading and conjures up all kinds of thoughts and images in people’s mind, often creating the wrong impression. One of the big challenges for any new technology, apart from it being mocked by the incumbents, is that people try to compare it to what they know, their reference point. The obvious is fiat currencies – the current banking system and the process of how bank accounts work. So here are the five most confusing things about Bitcoin and the answers that decode this technology and clear up the misconceptions to make it clear for all Bitcoin enthusiasts. 1. Gold coins is what it looks like Many mistakenly believe Bitcoin is a physical currency, Gold Coins with a letter B and two vertical …

Major Franchise Installs 11 Bitcoin ATMs in Cafes Across Canada

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Prominent Bitcoin ATM operator BitNational, has installed its signature two-way Bitcoin ATMs in the headquarters and branches of Waves Coffee House, a major franchise founded in 2005. The corporation operates 38 cafes across British Columbia and Alberta, and was selected by over 1,500 coffee retailers as the “best of brands” in Canada. As Bitcoin progresses towards mainstream adoption, major corporations and established institutions are attempting to familiarize its employees and customers with the leading global digital currency. Drew Glover, co-founder at BitNational stated: “The latest in a string of corporations now acknowledging the fledgling digital currency Bitcoin, Waves Coffee House, has installed a Bitcoin ATM in their corporate headquarters in New Westminster, BC.” As demonstrated in BitNational’s Bitcoin ATM locator map, 10 branches of Waves Coffee House, or what the company likes to call “Waves,” currently have Bitcoin ATMs installed. The 11th Bitcoin ATM is installed in the headquarters of Waves Coffee House, for the benefit of its employees. The presence of Bitcoin ATMs in the branches of Waves Coffee Shop, which is recognized by the Brand Coaches as the “Hottest Brand in Canada,” is favorable for the Canadian Bitcoin market and for the exposure of the digital currency across …

CoolWallet: The Bitcoin Wallet That Fits Right into Your Wallet

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new bitcoin Cold Storage device CoolWalletCT r:  256 from CoolbitX Technology is the size of a credit card, doesn’t need cables, fits in a common wallet and will grant owners confidence in thesecurity of their BitcoinCT r:  9 wealth. Cold storage is quickly becoming a popular concept within the Cryptocurrency industry. Considering the inherent risks involved in online storage of Bitcoin, the industry is devising better methods to keep the coins safe. One of these is somewhere the Hackers cannot reach, i.e. (pc or smartphone). cointelegraph interviewed Shannon Yeh, Product Manager of CoolWallet, to get an in-depthAnalysis of the product and Alena Vranova, Product Manager of trezor, a competitor in this marketplace for over a year for a comparison of the pros and cons of the two solutions. The Basic Concept of CoolWallet Shannon Yeh  is a member of the CoolbitX Technology team of security specialists, engineers and design professionals since 2012, owned by Jetstream Holding Ltd. According to Shannon, CoolWallet is the first wireless hardware wallet that can be used by smartphones to manage Bitcoin transactions. Other hardware wallets require a computer and/or a cable of some kind. CoolWallet is designed primarily for convenience. It is a product that has been designed to be …

HOMELAND SECURITY USING TREZOR HARDWARE BITCOIN WALLETS?

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According to a recent account by a member of the BitcoinTalk community, it appears that certain members of the Federal government have a much deeper understanding of Bitcoin than previously thought. The poster says that during a raid, the government knew to seize unused Trezor wallets and transfer seized bitcoins to their own bitcoin wallets. Hardware wallets, when used correctly, are a highly recommended way to store bitcoins. Understanding how to keep bitcoins secure is a fundamental problem that any new user will face. To quote the poster directly: When “homeland security” raided our house they took several Trezors still in the original packages that I had planned to give away for Christmas presents. […] BTW: Homeland Security was storing all the seized Bitcoins on a Trezor that they either purchased or seized from someone else! The knowledge does beg the question as to whether the Trezor wallets were acquired in a raid or if they were chosen instead of Ledger wallets. That is, if a government official had decided on the brand of hardware wallet the agency would use. There are many strategies to keeping bitcoins safe, and using hardware wallets for long-term storage has time and again been …

VC Firm Block26 Makes First Bitcoin Bet on Airbitz Wallet

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Los Angeles-based venture capital firm Block26 has completed its first investment, contributing $450,000 to the ongoing seed round for bitcoin wallet provider Airbitz. Launched in June, Block26 has indicated it plans to focus specifically on blockchain and digital currency ventures, contributing to seed to later-stage rounds. Calling the funding the company’s “first big announcement”, Block26 principal Ni’coel Stark indicated that Airbitz is representative of the kind of companies in which her new venture firm is looking to invest. Stark told CoinDesk: “We’re really looking for nuances in the technology. Airbitz is an amazing wallet, it solves problems for consumers, but it’s so much more than that. We see opportunities beyond the wallet, the ability that they have to go into security, their contributions to the Internet of Things, altogether they really make them fascinating.” She went on to call Airbitz “underrated” compared to its competition due to its team’s ability to contribute to areas of the technology beyond simply creating quality mobile bitcoin wallets. “Block26 is attracted to what’s under the surface,” she added. Going forward, Stark indicated that Block26 intends to “innovate along with the space”, and that it plans to focus on a smaller selection of high-quality startups. …

A Quick Review Of BTCLend A Peer-To-Peer Bitcoin Lending Network

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Don’t get caught in a jam While I have never been a big believer in loans in my life, crypto currency technologies have greatly changed my view on that subject this year when a new upstart launched in San Pedro California on January 17th  2015. BTCLend has a very solid platform with a familiar and simple to follow GUI that many crypto users may be familiar with if you have used BTCJam. After that, all the similarities drop off fast. BTCLend is banking on features that have already proven successful for others while at the same time developing potential features that many have asked for in the crypto currency lending space.   You Can Sign up Here Now and Create your BTCLend Wallet!   Signing up with BTCLend is straightforward, it is very much like opening a bank account and you will need to become verified at higher levels to gain a higher credit worthiness rating. After two months of operations BTCLend Currently has 71 open loan listings with a total of  ฿ 60.59855 in total funded loans to date. While BTCLend has been successful at creating an alternative to BTCJam for the crypto world. They have also learned from …