Bitcoin Weekly Recap 1-1-2016
Happy New Year from everyone at DCEBrief!
Coinbase Announces Bitcoin XT Test, Gets Removed from Bitcoin.org
Bitcoin.org has apparently removed Coinbase from its “Choose Your Wallet” page, after the former announced that it would begin running Bitcoin XT (BIP101) to test the software. Despite Coinbase CEO Brian Armstrong’s assurances that this move was merely an experiment, bitcoin.org acted quickly to express its displeasure. Bitcoin.org explained the removal by claiming that Armstrong’s decision is an effort to force a hard fork in the currency - something that would cause a schism within the community, split the blockchain, and result in the creation of a new altcoin.
Reaction to the removal has varied, with many in the Bitcoin community objecting to what they see as little more than an attempt to coerce consensus. Others denounced the logic behind the removal decision, since it suggests that Coinbase is advocating for an altcoin that does not exist, based on the implied threat of a forced hard fork that has not occurred. Naturally, much of the criticism of the bitcoin.org move has focused on how it seems to be inconsistent with the open source nature of the Bitcoin project.
Bitcoin Reaches New Milestones, Best Performing Currency of 2015
Though there was little fanfare to mark the achievement, Bitcoin reached two important milestones this Christmas. As of last Friday, there have been a total of 15 million Bitcoins mined. In addition, Bitcoin’s network has processed more than 100 million transactions. In addition, the currency’s market cap was at a 2015 high of more than $6.3 billion.
As reported by CNBC, Bitcoin also outperformed every other global currency this year. While the analysts tend to agree that the US Dollar had a banner year against other world currencies, its nine percent increase in value still paled in comparison to the more than forty percent increase enjoyed by Bitcoin.
XAPO’s Rogers Sees Bitcoin Debit Cards as Vital for Crypto Acceptance
In an interview with Coin Telegraph published this week, XAPO president Ted Rogers offered his thoughts on the future of Bitcoin debit cards. He noted the need for continuing improvement in the area of customer experience, citing concerns such as card orders, activations, and errant transaction declines. He also expressed confidence that the major card networks would continue to make inroads into the market.
Rogers also emphasized the important role that Bitcoin debit cards will continue to play in the effort to achieve more widespread acceptance for cryptocurrency. Consumers will not accept Bitcoin unless and until they can use it as easily as they use fiat currency. While broader merchant acceptance remains a core objective, debit cards will continue to be vital consumer tools for the foreseeable future.
McAfee: Digital Currency Acceptance
John McAfee, famed anti-virus pioneer and current long-shot candidate for US President, may be accepting Bitcoin donations for his political campaign, but that doesn’t mean that he sees a grand future for the world’s leading digital currency. In an interview with the Libertarian Report Live, McAfee asserted that the world will eventually accept a digital currency, but that it may not end up being Bitcoin:
“There will be an electronic currency, that I promise you. And if it’s Bitcoin, great. I just don’t think it will be.”
In Case You Missed It…
If you missed Evander Smart’s article on BitPesa and the challenges it is confronting in its efforts to bring Bitcoin to the people of Africa, you can check it out here: BitPesa Continues to Expand Bitcoin in Africa Against All Odds.