Bitcoin Weekly Recap 11-27-2015
Coinbase and Shift Unveil VISA Bitcoin Debit Card
Coinbase, in partnership with Shift Payments, unveiled its new Shift debit card this week. The new card provides Coinbase users with the ability to spend Bitcoins both online and offline with any merchant that accepts VISA payments. The Shift card is available to users in a total of 24 states in the U.S., costs just $10, and can be linked to Coinbase wallets. The company is currently working to expand the offering to additional states as well.
The process is simple. When a purchase is made, the Bitcoin price is debited against the consumer’s Coinbase wallet, based on the current Bitcoin value. The product currently comes with no conversion costs, and no annual fees. In addition, there are no domestic transaction fees - though that is being advertised as a limited-time offering. ATM fees are $2.50, with a $200 daily withdrawal limit.
Bitwage Payroll Firm Announces 760k in Fundraising
Bitwage reportedly raised $200k in its most recently completed funding round, bringing the Bitcoin payroll startup’s total fundraising efforts over the last several months to $760,000. Investors have included the Bitcoin Capital Fund, Draper Associates, Orange Telecom, and Cloud Money Ventures. According to the company’s founder, Jonathon Chester, those funds will be utilized to expand Bitwage’s infrastructure, as it seeks greater access to the European market. Additional emphasis will also be placed on improving the service’s user experience.
Andresen Suggests He May Take Lead on Bitcoin XT
Gavin Andresen, the Bitcoin’s onetime Core lead develop, recently suggested that he may have little choice other than to take the lead on Bitcoin XT. His statement indicated that he had no desire to do so, but that Mike Hearn’s departure might make that decision necessary. The shuffle is seen by many, including Brian Armstrong of Coinbase, as being one of the best options for ensuring the success of Bitcoin XT.
Hearn has announced that he will continue to do some minimum level of updating to XT to ensure that it remains functional, but that his main focus will be on his work with the startup blockchain company R3. Andresen, meanwhile, is currently on MIT’s Digital Currency Initiative payroll.
Bitcoin Bounty Offered to Catch Website Attacker
Two online news sites, Hacked and CryptoCoinsNews, have offered a five-Bitcoin bounty to anyone who can provide them with information leading to the arrest of a recent extortionist. The criminal had demanded two Bitcoins for information about vulnerabilities he claimed to have discovered on the sites. His ransom demand came after he attacked both sites using a DDoS attack, and in conjunction with the threat of additional attacks.
In Case You Missed it…
With Thanksgiving past us now, and Black Friday a reality throughout the United States, Nick Marinoff’s recent article, Bitcoin Black Friday Is Almost Here, remains a timely reminder of just how far the digital currency has come in such a short period of time. Be sure to check it out if you missed it earlier this week.
Happy Thanksgiving Weekend!
To all who celebrated with friends and family this Thanksgiving, our warmest wishes. And for those who will be traveling over this long holiday weekend: keep an eye on the weather and the roads, and be safe. We are truly thankful to have each and every one of you as part of our extended DCEBrief family!