Last week, PayPal President David Marcus tweeted “To clarify: we have no policies against using PayPal to sell Bitcoin mining rigs. We don’t support any currency txn whether fiat or BTC… for a host of regulatory issues. But we treat BTC and any FX txn the same way. We’re believers in BTC though.”
Cory Doctorow — Boin Boing
Some Bitcoin enthusiasts have announced a new project called Bitcloud. The idea is something like the old Mojo Nation P2P architecture, in which individual Internet users perform tasks for each other — routing, storage, lookups, computation — in exchange for very small payments.
The Bitcloud protocol uses Bitcoin-style accounting to allocate those microtransfers, along with Bitcoin-style proof-of-work (they call it “proof-of-bandwidth”) and the authors suggest that the potential for profit by individual members will create enough capacity to replace a large number of centralized commercial services (“Youtube, Dropbox, Facebook, Spotify, ISPs”) with “distributed autonomous corporations,” that obviate the need for centralized control in order to supply anonymous, robust, free services to the public.
Bitcoin just got another cheerleader.
The Sacramento Kings NBA team just became the first major professional sports franchise to accept Bitcoin, according to an announcement from payment processor BitPay.
Starting Thursday, BitPay spokeswoman Jan Jahosky said Kings fans can use bitcoins to buy merchandise at the team shop — located at the Sleep Train Arena.
Customers will be able to shop online for tickets and merchandise with bitcoins by March 1.
Andy Greenberg, Forbes Staff
When a group of cryptographers launched Zerocoin last year, they hoped their cryptography project could upgrade Bitcoin to be as anonymous as its most privacy-focused users have always wanted it to be. Now, after six months of waiting in vain for their code to be adopted by the Bitcoin community, they’re taking a bolder approach: Creating their own cryptocurrency, with privacy baked in from the start.
At the Real World Crypto conference Monday in New York, Johns Hopkins cryptography professor Matthew Green announced the next phase in the evolution of Zerocoin: creating an alternative cryptocurrency with an infrastructure independent of Bitcoin. The new coins, which Green says will go into circulation in May in some sort of beta program, will have their own exchange rate with existing currencies, their own “miners” producing new coins, and their own public ledger of transactions known as the “blockchain,” just as Bitcoin does. But unlike Bitcoin, Zerocoin is designed to be spent and received without revealing any trace of a user’s identity.
Joel Flickinger’s two-bedroom home in the hills above Oakland, Calif., hums with custom-built computing gear. Just inside the front door, in a room anyone else might use as a den, he’s placed a desk next to a fireplace that supports a massive monitor, with cables snaking right and left toward two computers, each about the size of a case of beer. Flickinger has spent more than $20,000 on these rigs and on a slower model that runs from the basement. They operate continuously, cranking out enough heat to warm the house and racking up $400 a month in electric bills. There isn’t much by way of décor, other than handwritten inspirational Post-it notes:
“I make money easily,” one reads. “Money flows to me.” “I am a money magnet.”
Flickinger, 37, a software engineer and IT consultant by trade, doesn’t leave the house much these days. He’s a full-time Bitcoin miner.
Rob Wile — Business Insider
Last week we told you how Texas Rep. Steve Stockman (R-Texas) became the first sitting elected official in Washington to accept Bitcoin for his 2014 campaign against Sen. John Cornyn.
Dan Backer is going to make sure Stockman is not the last.
by Ingrid Lunden — Tech Crunch
Gaming giant Zynga has started to accept the cryptocurrency as a payment option for those buying tokens for virtual goods on the web versions of FarmVille 2, CastleVille, ChefVille, CoasterVille, Hidden Chronicles, Hidden Shadows and CityVille. It makes Zynga the first major gaming company to accept Bitcoin.
WASHINGTON –Cody Wilson isn’t afraid of legal gray areas, whether they’re do-it-yourself firearms or anonymous online money.
Last year, the Austin resident and former UT law student posted plans for a 3D-printed plastic handgun online along with a video demonstrating the weapon. He took the plans down days later, after the State Department ordered them removed.
Now, Wilson has moved into another realm growing increasingly popular among tech-centric libertarians. He and six other coders are working on software that would further encrypt bitcoins, an increasingly popular quasi-anonymous online currency.
Rob Wile — Business Insider
Rep. Steve Stockman (R-Texas) is the outsider’s outsider — what other Texan would spend a freezing New Year’s hundreds of miles away in New York City?
But there he was last night at the launch event for the NYC Bitcoin Center, located just up the street from the New York Stock Exchange.