Newsletter #60
17 - 23 January 2014
Coinbase announced a massive Series C round of funding totalling US$75 million from strategic investors such as New York Stock Exchange, Spanish bank BBVA and ex-Citigroup CEO, Vikram Pandit. This shows that smart money continues to flow into the ecosystem regardless of bitcoin's price.
Bobby
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Latest News
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Investors in Coinbase include the New York Stock Exchange, the Spanish bank BBVA and Vikram S. Pandit.
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Probe adds to list of lawsuits, investigations of alleged Bitcoin-fueled fraud.
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Mike Hearn's decentralized crowdfunding app Lighthouse has officially launched in open beta.
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The brothers have hired engineers from top hedge funds, enlisted a bank and engaged regulators with the aim of opening their exchange in the coming months.
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Market
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Bitcoin is going to revolutionize the way that wine provenance is understood in the digital age. Imagine a world in which you hold ownership of both a physical bottle of wine and a unique digital record that verifies exactly who owned the bottle of wine before you – traceable all the way back to the original producer.
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IBM has debuted ADEPT, the distributed, blockchain-powered Internet of Things proof of concept designed in partnership with Samsung.
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Following Coinbase's record $75m round, CoinDesk looks back at the previous largest investments in the bitcoin space.
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Ecosystem
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Speaker Robert Jan Vrolijk explains why banks prefer Ripple over Bitcoin.
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Legal
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St Louis Fed VP and research director David Andolfatto suggests the bitcoin network isn’t that much different from the Federal Reserve.
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Major UK banks, including Barclays and Royal Bank of Scotland, have warned that Chancellor George Osborne’s plan to turn Britain into a hub for the virtual currency trade could help terrorists and criminals.
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A common misconception about Bitcoin is that it is not regulated.
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Learn
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Adam Ludwin, Co-Founder of Chain.com, differentiates between anonymity and privacy in financial tools. Bitcoin is less private than credit or debit transactions but generally more anonymous. That anonymity has limits, however, and Ludwin details techniques that can be employed to match identities to Bitcoin transactions.
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It's well described how Bitcoin has a 1MB block limit; it's defined in the Bitcoin Core source code. Turns out that in practice this limit is actually quite a lot smaller!
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