Bitcoin Weekly Recap 10-30-2015
Genesis Mining Begins New Bitcoin Public Awareness Campaign in U.S.
On Monday, Genesis Mining launched what it hopes will be an effective national campaign to increase the American public’s awareness of Bitcoin and its many benefits. The campaign is designed to start in large urban areas, with billboard and other advertisements promoting various positive aspects of the cryptocurrency. The effort is the result of the company’s recognition that the mainstream media seems to only report on Bitcoin and other digital currencies on those rare occasions when something goes wrong.
That tendency to cover only bad news tends to create the type of negative impression that will only serve to hinder cryptocurrency’s development and broader acceptance in society. The company’s CEO, Marco Streng, views the new public relations effort as a way to not only improve Bitcoin’s image, but to also educate Americans who may have not yet even heard of digital currency. He has also expressed optimism that others will pick up the banner as well, even if their contributions only involve sharing positive news about Bitcoin with friends, relatives, and acquaintances.
Digital CC is Now Digital X; Ends Bitcoin Operations
Digital CC completed its rebranding effort and will now be known as Digital X. At the same time, the company - which had been a Bitcoin miner - has ended its Bitcoin operations so that it can refocus all of its efforts on software development. According to company officials, the decision was prompted by the steady erosion of Digital CC’s Bitcoin operations and the end of the firms’s partnership with the crypto mining company Mintsy. The change means that Digital X will see its efforts directed solely toward the rollout of its remittance software, AirPocket.
Bit4Coin Bitcoin Photo Contest Awards Prizes to Seven Entrants
The first-ever Bitcoin photo contest has come to a conclusion, and prizes were awarded to seven of the roughly 600 entrants who participated. The contest was launched in response to a perceived dearth of creative Bitcoin images. The contest, sponsored by Bit4Coin, offered a grand prize of €1000 to the winner, with a €500 prize for second place, and €250 for third. All prizes were paid in bit4coin vouchers, which were instantly redeemable for Bitcoins.
The grand prize was won by a participant named Nadin, and featured an image of Bitcoin cookies on plate. The second-place prize was more political in tone, and was titled “Be Free from Financial Slavery.” Third place was split between four contestants, but Bit4Coin chose to award them each €100 rather than have the tying entrants split the €250 prize four ways. An extra prize of €100 labeled as a “special discretionary award” was given to a South African entrant named Alistair, for his images of a children’s Bitcoin cupcake party.
The winning images can be viewed on the Bit4Coin contest page.
Blade Payments Partners with Bitfinex for Bitcoin Debit Card
Digital processor Blade Payments is joining forces with the Bitcoin exchange Bitfinex to provide the latter’s customers with a new Bitcoin debit card that will provide exchange users with real-time access to their Bitcoins. Officials from both companies extolled the benefits for each company, as well as for the customers the new cards will serve. For Blade Payments, the partnership with one of the industry’s biggest exchanges represents an important breakthrough toward broader acceptance of these debit cards as a liquidity solution for Bitcoin users. For Bitfinex customers, the cards can be used to access their digital currency assets at ATMs around the globe and to make purchases anywhere traditional credit and debit cards are accepted.
SnapCard Alliance with UniPAY
Payment service provider UniPAY has joined with SnapCard in a new partnership designed to provide UniPAY’s 55,000 verified users access to SnapCard’s currency conversion and other features with new digital currency accounts. The move will enable those customers to more easily transfer Bitcoin and other cryptocurrencies anywhere in the world, while also allowing easier conversion to local currencies where necessary.
Georgia-based UniPAY envisions the move as an ideal test case for Bitcoin, and a way to assist the Georgian people as they move to gain more access to the broader world economy. Because credit card processing is limited in the Republic of Georgia, there are often barriers that make it difficult for trade between the nation’s businesses and international merchants and customers. The partnership is viewed as a potential means to reduce those barriers over time.
Online Bitcoin Forum Begins November 2nd
Sign-ups are now open for anyone interested in participating in the AMA session being conducted on forum.bitcoin.com. The event begins November 2 and will include professionals from across the Bitcoin spectrum who will be answering a variety of questions from the public. Those who wish to participate are being asked to register on the forum now. This event is scheduled to last through the end of November, and provides a rare opportunity for the public to interact with many of the industry’s major thought leaders.
Bitcoin Price Tops $300…
And there was much rejoicing. The price of Bitcoin this week once again hit the $300 mark -something it has not done since July of this year. For Bitcoin enthusiasts, hitting that benchmark again may provide some much-needed psychological relief -particularly in the wake of months of news stories focused almost exclusively on the blockchain. For while many in the financial industry have been dismissive of the currency even as they publicly embrace its underlying technology, this latest news indicates that Bitcoin itself is not yet ready to allow itself to be so easily ignored.