Lifeboat Foundation

Jennifer Liberto — CNN Money


Bitcoin companies are hiring lobbyists, visiting lawmakers on Capitol Hill and writing to agencies about how they should write rules that will determine the future of the fast-growing virtual currency.

It’s all part of a push to shape how Washington ultimately regulates the independent, digital money that is growing in popularity.

“The most important thing we’re doing is explaining how Bitcoin works,” said Jim Harper, a lobbyist who was hired recently as counsel for the Bitcoin Foundation, an organization that represents Bitcoin companies and investors. Harper, who has lobbied for PayPal and VeriSign, is paid in bitcoin.

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Darrell Etherington — Tech Crunch

In the sci-fi show Almost Human, everyone has a bitcoin wallet. More and more places to spend bitcoin means that could become a reality, and popular indie merchant mobile payment provider Square is the latest to accept the cryptocurrency.

In an announcement today on their blog, which isn’t an April Fool’s Joke pushed early Square assures us, the company notes that bitcoin can be used to buy goods and services with Square Market as of today. That means shoppers can pay using the virtual currency on Square’s online storefront, which includes items from merchants around the world collected in one place.

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Alex Hern — The Guardian

The promise of bitcoin is a universal currency free from the control of any nation or government. But a new generation of cryptocurrencies are focusing on the opposite goal: building money to solve problems specific to one country.

On midnight Monday, Auroracoin, a bitcoin clone which is the fourth most valuable cryptocurrency being traded today, entered the second phase of its life, with a “helicopter drop” of 30 auroracoins to every citizen of Iceland.

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Rob Wile — Business Insider


The Wall Street Journal’s Gregory Zuckerman reports Andreessen Horowitz plans to invest “hundreds of millions” more dollars in Bitcoin-related businesses, on top of the $50 million they have already dropped, mostly on Coinbase.

Bitcoin prices have lost nearly 50% of their value over the past four months or so, and now trade at around $570. Analysts from Goldman Sachs recently cast doubt on the viability of the digital currency itself, though added its underlying technology may yet prove useful.

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By Dan Primack — CNN Money

FORTUNE — Tim Chang has a very busy full-time job as a partner with venture capital firm Mayfield, where he has led investments in such companies as Lyft, Lumosity and Playdom. But he also has a business venture on the side, helping friends and family invest in bitcoin via something called Binary Fund.

Binary Fund was formed by a Canadian investment firm called Binary Financial, and also includes participation from venture capitalist Jon Teo (ex-General Catalyst who is forming a new fund of his own). The idea is basically to participate in bitcoin arbitrage, as opposed to investing in bitcoin-focused startups.

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Dylan Love — Business Insider

Reddit user “Leeburg” has written a post on his nine months and counting of experience in running a Bitcoin-only storefront online. The site is called CoinsForTech, and it deals in smartphones, computers, and all order of electronic gadgets wanted by people all over the world.

Leeburg is able to serve these people because Bitcoin is a geographically agnostic digital currency. Rather than get a bank involved in converting obscure currencies, CoinsForTech simply waits for confirmation that a customer’s payment has arrived at the appropriate Bitcoin wallet. At that point, it can convert to U.S. dollars or do whatever else it would like with the Bitcoins — the payment’s arrived and the irreversible nature of Bitcoin transactions means it’s here to stay.

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By Jeff John Roberts - GigaOM

One of the reason bitcoins get so much attention is because people keep stealing them. Every week it seems that another “secure” wallet service gets plundered by tech-savvy thieves.

That’s one of the appeals of Xapo, a startup that just received a $20 million investment to build out its secure, insured “vault” for bitcoins.

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Declan McCullagh — CNET

A US senator is asking the federal government to take this remarkable step: completely ban Bitcoin.

Joe Manchin, a Democratic senator representing West Virginia, sent a letter Wednesday to the Treasury Department, the Federal Reserve, and other regulators characterizing the virtual currency as encouraging “illicit activity” as well as being “highly unstable and disruptive to our economy.”

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By Katie Lobosco — CNN Money


The brothers, known for their legal battle over the creation of Facebook (FB, Fortune 500), are going to space and paying for it with Bitcoins. Take that, Mark Zuckerberg.

The twins bought tickets, valued at $250,000 each, for a ride to space with Virgin Galactic. That’s about 375 Bitcoins, at Wednesday’s price.

They think of their purchase “as seed capital” supporting new technologies they have high hopes for.

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