July 17, 2014 - In This Issue:
Google Adds Bitcoin Currency Conversion To Search
Bitcoin, the digital currency in which transactions can be made without a central bank, increased in value substantially since it was created in 2008. In 2013, the price of one Bitcoin went from $13 to over $1,100. The value of the currency dropped this year after Bitcoin exchange company Mt. Gox shutdown in February and a false report was published about how the Chinese government banned the digital currency in the country. As of right now, the value of 1 Bitcoin is worth more than $600. Google GOOGL -1.53% has now made it easier to track these fluctuations by adding a Bitcoin tracking tool to its search website.       Read more..




How Bitcoin Is Changing Online eCommerce


Within the last six months bitcoin has been steadily increasing its mainstream process. Stores like Overstock, Lord & Taylor, TigerDirect, Virgin Galactic and earlier this week NewEgg all are now accepting the digital currency. But, after it was announced that Dish Network would be accepting bitcoins, the future's looking brighter.

John Donahoe, CEO of eBay, has stated that not only is bitcoin exciting, it's also going to play an "important role" in the future of PayPal. Apple, who banned bitcoin wallet apps last year, is beginning to lighten up on the digital currency. Even Amazon, who claimed that it would steer clear of bitcoin, has recently been awarded a bitcoin-related cloud computing patent. Read more.. 


Cheap-Air Tops $1.5 Million In Total Bitcoin Sales

California-based online travel booking website CheapAir.com has announced that it has completed more than $1.5m in bitcoin sales on flights, hotels and Amtrak bookings via its platform.

With the announcement, CheapAir joins Overstock as the second traditional e-commerce player in the bitcoin ecosystem to reveal that it has completed more than $1.5m in sales. Overstock disclosed that its figures topped $1.6m in May.

Speaking to CoinDesk, CheapAir CEO Jeff Klee suggested that the numbers are a testament to the loyalty of bitcoin users who have remained committed to the company even in the face of new competition.

Klee told CoinDesk:




Bitcoin Vault Elliptic Secures �1.2m Backing
Octopus, the venture fund, has led a �1.2m investment into Bitcoin vault Elliptic, in a deal that adds further credibility to the digital currency.

Launched just six months ago, Elliptic stores cryptographic "keys" on offline servers for a raft of institutional clients, including hedge funds, law firms and the newly regulated Global Advisors Bitcoin Investment Fund, a Jersey-based organisation that allows insurers and pension funds to invest in Bitcoin.

The funding, which saw Octopus invest alongside a number of angel investors, will be used to continue to hone the Elliptic product, and to attract more big-name clients onto its books.

Elliptic is an innovator in the Bitcoin marketplace. It is the first insured vault, which allows institutions to accept Bitcoin without fear of losing its cryptocurrency to hacker attacks. It also bolts on an analytics and performance algorithms, which allow its customers to track the value of Bitcoin over time. Read more..

First 'Live' Bitcoin Exchange Opens In Vietnam

Bitcoin continues to grow in Vietnam with last week's launch of the country's first live open-order Book trading bitcoin exchange, VBTC.

The new company is the result of an international merger between the operators of Vietnam's first bitcoin broker exchange BitcoinVietnam, and Israeli exchange technology startup Bit2C Ltd. Other team members hail from Germany, Singapore and the US.

CEO of Bitcoin Vietnam Co. Ltd., Nguyen Tran Bao Phuong, told CoinDesk the Southeast Asian region had seen rapid grown in bitcoin infrastructure in the past months, with the Philippines probably leading the way. She stated: Read more.. 



How Cryptocurrency Opened The Software Industry

Open source technology is fundamental to the cryptocurrency movement, and that's a good thing. Bitcoin wouldn't have the same appeal if it were copyrighted by a company, or if any of the underlying code were hidden from the public. The free and transparent nature of open source projects was necessary for the success of Bitcoin, and cryptocurrency appears ready to return the favor by decentralizing SOFTWARE distribution as we know it.

One of the most important ideas to emerge from the movement so far are decentralized exchanges. These allow one to (without trusting a central authority) trade different cryptocurrencies on smart contract-enabled platforms like Counterparty, Mastercoin or Ethereum. The additional invention of smart property-the owners of which can be tracked using a blockchain-means that one will be able to buy and sell not just digital Coins, but even things like houses and cars! Read more.. 



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