Bitcoin Weekly Recap 4-8-2016
Bitcoin Venture Capital Sees First Quarter Increase
Though there was much talk at the end of last year about a perceived loss of investor interest in Bitcoin startup ventures, the venture capital numbers from this year’s first quarter appear to be on pace to put those worries to rest. Through the first three months of 2016, a total of more than $160 million in funding has been provided to various Bitcoin startups – with Blockstream and Digital Asset Holdings receiving a large share of that investment capital.
Japanese Demand for Bitcoin Sharply Increased
Japanese demand for Bitcoin rose sharply midweek, as its exchanges experienced record trading volume for the world’s most well-known digital currency. The BTCBOX and BitFlyer exchanges saw volumes that exceeded trading on larger global exchanges like Coinbase and Kraken. Over a twenty-four hour trading period, almost $6 million of the currency was traded on the two exchanges.
Some experts are attributing the sudden rise in trading to recent news regarding the Japanese government’s stated intent to implement new controls and regulations on Bitcoin, treating is an alternate form of currency. If true, that would indicate that many traders were seeking to avoid what could be more difficult trading processes in the future.
Shake Launches Tap and Pay Service
For consumers who have been frustrated by an inability to pay for consumer goods with Bitcoin, Shake has the solution. The Bitcoin debit card service recently unveiled a mobile phone tap-and-pay utility that will enable consumers to pay at service terminals by tapping their phones against any contactless terminal. Most users will be able to spend up to $2,500 each day using this system. At present, the app is available only to Android users. The apple version is expected later this month.
Coinify and iSignthis Partnership to provide Instantaneous Bitcoin Purchases
Coinify’s partnership with iSignthis is expected to yield huge dividends as the two companies are preparing to launch a new service that will provide users with instantaneous Bitcoin purchases through the Coinify platform. The new feature hopes to better connect credit cards with blockchain payment options and Know-Your-Customer (KYC) identity proofing to facilitate seamless payments in real-time.
PeerJ Now Accepts Bitcoin
In a recent blog posting, PeerJ announced that it will now accept Bitcoin as payment for those seeking access to the academic journal’s peer-reviewed material. As the post noted in the announcement, this move makes the journal the first publisher of its kind to accept the cryptocurrency in this manner.
PeerJ will accept the currency from users paying for memberships and APC. The publisher is considered a prestigious source for academic material, having published 1924 scholarly works since its launch in 2012, covering topics ranging from biology and medicine to computer science.
Bank of Canada Research Consultant: Bitcoin Standard too Restrictive for Policymakers
In a recent paper from Bank of Canada research consultant Warren Weber, the scholar concludes that the imposition of a Bitcoin standard would limit government policymakers’ ability to manage things like interest rates, and would thus never be acceptable to the central banks of the world.
The paper is called A Bitcoin Standard: Lessons from the Gold Standard, and presents Weber’s analysis of an imagined scenario in which Bitcoin is used to provide backing for the world’s monetary systems. His hypothetical case study was an attempt to see how Bitcoin might perform in the same role that gold enjoyed between the late 1800s and early 1900s. In it, Weber concluded that while such a standard would have obvious benefits, its limiting effects on central government control over monetary policy would preclude it from ever being seriously considered as an option.