Bitcoin Weekly Recap 2-12-2016
PayPal Blocks Bitcoin Parody of Super Bowl Ad
Payments giant PayPal took steps to block a parody of its New Money Super Bowl advertisement this week, arguing that the Bitcoin-focused spoof was so similar to the original material that it could easily confuse customers. The spoof was created by Silver Park Studio owner Shiloh Silverman, in response to many Bitcoin advocates’ concern that Bitcoin’s role as “new money” was ignored in the original ad. The parody had been uploaded to YouTube, and was blocked within 24-hours of posting.
For its part, PayPal did note that it was flattered by the imitation of its advertisement, and saw the parody as validation that its advertisement effort was connecting with consumers. Moreover, PayPal’s spokesperson asserted that the payments firm considered Bitcoin to be part of its “vision of New Money.” The parody, however, relied in large measure on the original ad’s footage, and did not differentiate itself in a way that would prevent consumers from confusing the brands. Silverman has subsequently replaced the blocked parody ad with an updated, more original version.
Valve Plans to Offer Gamers Bitcoin Payment Option
For gamers seeking the ability to use Bitcoins when they purchase access to digital video game rights, Valve Corporation has some good news. The game developer and digital content distribution company appears poised to begin offering its 125 million customers the option of using the digital currency for digital rights purchases to all of the most popular games.
These purchases will be facilitated through the integration of the Steam and BitPay platforms, and will use zero-conf instant processing. The new addition of BitPay Bitcoin capabilities could bring substantial savings for Valve’s customers. It would also mean tremendous savings for the company, which could save on credit card processing fees and other transaction costs.
Simplex Startup Closes $7 Million Funding Round
Bitcoin startup Simplex recently closed its latest Series A round of funding, in an investment period that saw the Israeli company receive support totaling $7 million. The company had raised $1.4 million prior to this latest funding effort, with investment coming from undisclosed angel investors, Bitcoin mining enterprises like Cumberland Mining, and crowdfunder FundersClub.
Simplex has directed its energies towards proving customers with a secure credit card option for Bitcoin purchases, to simplify the purchasing process and remove one of the chief barriers to Bitcoin ownership and use. The company’s platform is designed to eliminate the delays most Bitcoin purchases experience, do away with fraud chargebacks, and provide customers with a variety of deposit and withdrawal options.
Bitcoin Textbook Now Available for Free from Princeton
There was exciting news in the Bitcoin universe this week, as Princeton University Press released a draft copy of its new textbook. The book offers a comprehensive look at the cryptocurrency, and covers everything from Bitcoin blocks and potential applications to regulatory concerns. The draft textbook is available for download at no cost.
BitGo Instant enables instant E-Coin Bitcoin Transactions
E-Coin users who have been frustrated by the delays caused by multiple confirmations of their transactions can now enjoy instant card loading and Bitcoin transfers. The E-Coin wallet is now providing customers with the ability to conduct transactions using BitGo Instant network, and protection against double-spending. The development is being hailed by E-Coin as another step in its efforts to ensure that its customers have access to the best cutting edge services available in the market today.