Bitcoin Weekly Recap 4-15-2016

Bitcoin Weekly Recap 4-15-2016


New Bitcoin Core Sponsorship Program Announced

Bitcoin Core revealed in a recent announcement that the development group has launched a new sponsorship program designed to close the existing funding gap that is preventing many new innovative solutions from being implemented. Through this program, many of the larger Bitcoin community participants can directly provide needed funds to facilitate various projects and research that has languished due to insufficient resources.

The program announcement listed a number of possible project options that contributors can directly sponsor, and also noted that sponsors are free to offer their own development suggestions. That list of projects included things like new developer internships, additional research into safe hard fork methods, network integration and maintenance, flexicap block size, and more. Bitcoin Core is also welcoming funding targeted toward administrative and public relations needs.

Coinapult Bitcoin Solution for Telegram Network

Coinapult recently acknowledged that its new Tender Wallet Bot will provide Telegram network users with greater access to Bitcoin services. The new application can be easily accessed through the Telegram chat interface, and will enable users to easily engage in Bitcoin payment transactions, conversion to traditional fiat currencies, and remittances. The Coinapult Telegram app will effectively serve as both a wallet and an exchange, in one easy-to-use solution.

New York’s itBit Ends Services to Texas Residents

Texas residents who have relied on bitcoin exchange itBit for their cryptocurrency needs will now need to find another provider, as that exchange has reportedly made the decision to end services to customers in the Lone Star State. The move came with little warning, as the exchange advised Texas customers to withdraw their assets by April 14th.

itBit is apparently continuing its operations in the nation’s other forty-nine states. The decision came as a surprise to many customers, particularly given the welcoming environment Texas authorities have strived to create for digital currencies and blockchain technology. The company has yet to offer a more detailed explanation for its suspension of services in the state, though some are speculating that a recent memo from the Texas Department of Banking may have led to the pullout.

Bitcoin Conference Prague Begins in May

The next major Bitcoin conference is a little over a month away, and scheduled to be held in the capital of the Czech Republic. Bitcoin Conference Prague starts May 19, 2016, and will see attendees gather in the historic city to enjoy an assortment of innovative exhibits, hear from engaging industry speakers, and discuss many of the most pressing issues surrounding Bitcoin, the blockchain, investments, regulations, and more. Interested parties who would like to become sponsors, exhibitors, or partners, or who simply want to attend the gathering, can learn more at the event’s website.

Genesis Mining Highlights Opportunity for Bitcoin if Remittances to Mexico are Halted

Bitcoin mining firm Genesis Mining has plans to conduct a billboard advertising campaign throughout California over the next several weeks that, on the surface at least, may seem somewhat politically charged. The billboard ads highlight the most obvious weakness in U.S. Presidential candidate Donald Trump’s stated plan to end remittances to Mexico as a way to force that country to pay for his promised wall: the fact that Bitcoin and other digital currencies could simply be used to get around his remittance ban.

The billboards are emblazoned with the words “Your wall won’t stop Bitcoin, Mr. Trump!”

According to the company’s CEO, Marco Strong, the fact that Mexicans working in the United States could simply use Bitcoin or other digital currencies to transfer value to their families across the border makes Trump’s suggested border wall payment method unworkable. As announced, Trump’s plan involves preventing those Mexican workers from sending U.S. dollars home to Mexico, as a way to apply pressure to the Mexican economy so that political leaders there would agree to pay for construction of the proposed wall. Obviously, the availability of Bitcoin and other cryptocurrency remittance options would seriously disrupt those attempts.

Still, Strong emphasizes that his company is not taking sides on the politics of walls or remittance blocking. Instead, his desire is to highlight the fact that Bitcoin is the perfect solution for any problems that the proposed remittance ban actions would invariably create. The proposed ban might halt fiat currency remittances, but it would do nothing to prevent Bitcoin from stepping into the breach to meet those families’ needs.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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