Initial coin offerings have raised $1.2 billion and now surpass early stage VC funding

Initial coin offerings have raised $1.2 billion and now surpass early stage VC funding

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The amount of money raised by start-ups via so-called initial coin offerings (ICOs) has surpassed early stage venture capital (VC) funding for internet companies. ICOs are a way for start-ups to raise money by selling investors tokens in exchange for equity, similar to an initial public offering (IPO). Getty Images The amount of money raised by cryptocurrency and blockchain start-ups via so-called initial coin offerings (ICOs) has surpassed early stage venture capital (VC) funding for internet companies for the past two months. ICOs are a way for start-ups to raise money from users, similar to crowdfunding, by allowing them to buy a stake. In return, the user will receive a token or digital currency, which are equivalent to shares in the firm. ICOs are popular among cryptocurrency and blockchain start-ups and have exploded in the past few months. The total amount of money raised via ICOs in April was just under $100 million, but by May this had more than doubled to almost $250 million, according to Coinschedule, a website that tracks such data. In June, ICO funding had hit over $550 million and it was the first month ever that it surpassed angel and seed VC funding. This was …

Why The Block-Chain Matters In So Many Ways!

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This article was taken from the June 2015 issue of WIRED magazine. Be the first to read WIRED’s articles in print before they’re posted online, and get your hands on loads of additional content by subscribing online. At least one global cryptocurrency will achieve mass-market adoption. That cryptocurrency will either be Bitcoin or a derivative inspired by it. The chance that it will be the former is so strong that in 2014 I invested in Bitcoin startups Xapo and Blockstream. And yet, perhaps surprisingly, when one of the very smart people I know in Silicon Valley recently told me he’s a major “Bitcoin sceptic” who has not yet seen “many real use cases” for the technology, I considered it a good sign. Why? Because in my experience, the most transformative ideas are not the ones that achieve broad consensus early on. Instead, they’re the ones that are so uniquely out there, so contrarian, that even informed observers have wildly differing opinions regarding their potential value. The internet itself was like this. It started as a strange new parallel universe called “cyberspace” and then became a part of everyday life. LinkedIn, eBay, Twitter and Airbnb were all bizarre concepts at first, …

30 WAYS BITCOIN CHANGES THE FUTURE OF MONEY FOREVER

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Money may be digital all over the Western world, but it now has some real competition, and competition always helps the consumer. Bitcoin is not going to become the primary global currency, but it will force the rest of the world to catch up to what Bitcoin can do for every person who uses it. Bitcoin provides many unique features that the world is just starting to get a taste of, and will soon come to expect in all other currencies. Here’s a list of just 30 ways Bitcoin innovations are changing the way people will see, and use, money from now on. Peer-to-peer currency You don’t need a government to have money anymore. Bitcoin is a money of The People, for The People. It’s the money of you and me. There have always been local currencies, since people were trading eggs for milk. Now you can trade money digitally. No animals, printing presses, or interest rates needed. Massive information transfer capabilities Technically speaking, money is speech, according to the U.S. Supreme Court, and information. A bitcoin can send one thousand bits of information with secure encryption. Send pdfs, digital files, combinations, and more in complete security. Public transaction ledger The …

How Bitcoin Will Revolutionise Gambling [Infographic]

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Bitcoin is going to change the world of online gambling, and it’s already on its way. The forecasts claim Bitcoin will change online gambling forever! If you want the inside track on just how the world’s most popular virtual currency is going to affect the way you bet, then this infographic – created by our friends at BitcoinSportsBooks and NeoMam Studios – will give you the lowdown. “It’s time for gamblers to cash in their chips and start mining their Bitcoins because cryptocurrency is about to make conventional money a spent force in gambling,” says the blog post at BitcoinSportsBooks. The infographic (click to enlarge) focuses on the main advantages of Bitcoin (low transaction costs, transparency, Instant Payouts ) for gambling from the perspective of online casinos, affiliates, and gamers. Check it below to learn more and tell us your thoughts in the comments below.

The Past and Future of Bitcoin [Infographic]

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CoinMe, a Seattle-based bitcoin startup, has created this infographic, explaining the past and future of Bitcoin, and also the use of the city’s first-ever Bitcoin ATM – CoinMe’s Kiosk. The Coinme Kiosk is the new solution for Seattle-area residents to buy and sell bitcoins. As the first Bitcoin Kiosk in the Northwest, and the first licensed kiosk in the U.S., Coinme is eager to introduce Bitcoin to the community through regular Meetups and free onsite consultations. The ATM is operated by Coinme but manufactured by Las Vegas-based Robocoin, which also built the world’s first Bitcoin ATM that was installed in Vancouver, Canada last October. The Kiosk is open seven days a week from 11 a.m. to 10 p.m., and it scans your palm and allows you to exchange cash for Bitcoin, or do the reverse. Customers can make up to $3,000 worth of Bitcoin exchanges per day. Check the infographic below and tell us in the comments below what do you think about the new CoinMe’s Kiosk.  

BITCOIN IS THE FUTURE: PAYPAL CHANGES TERMS OF SERVICE TO TAKE YOUR CONTENT

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PayPal has joined forces with Bitcoin as a sort of keep-your-friends-close-and-your-enemies closer tactic. Bitcoin is designed to overtake and make obsolete services like Paypal and Western Union. It is faster, less expensive, and doesn’t require their third-party services to accomplish the same objectives. It is a better PayPal, and they know it. Now that the Internet has borne this superior option, it would be wise for PayPal to foster a stronger connection with its customer base to keep them happy and in the fold, no? PayPal doesn’t see it that way. In fact, they may be looking to drive more people towards the freedom and convenience of Bitcoin with their upcoming changes this summer. PayPal’s Terms of Service to change July 1st, 2015 If you haven’t seen this, you should, and you should share this with your friends, family, anyone who used PayPal in connection with a website providing online content. On July 1st, 2015, Paypal will update it’s TOS agreement to take away any and all intellectual rights to any content you provide online. If you use Paypal to accept PayPal, they will attempt to take ownership of any online content you add to your business or website. Here is …