Category: Bitcoin

Why Boston entrepreneurs are betting on bitcoin

October 17th, 2014 in 2014, Bitcoin, Boston Business Journal, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1Boston Business Journal (subscription required)
Mark Williams, School of Management

About a year and a half ago, Jeremy Allaire started working on a startup whose aim is to make bitcoin, the digital currency known for its volatility and security issues, accepted around the world…

Expert quote:

“As the market gets better on the true inherent risk, the pricing will continue to fall. All the risk has not been priced into bitcoin.”

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Bitcoin winning over women in developing countries?

August 22nd, 2014 in 2014, Bitcoin, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1RT
Mark Williams, School of Management

There is a steady movement led by women in developing countries to embrace the use of bitcoins…

Expert quote:

“Today if someone is able to gain access to your e-wallet they can steal your wealth and you have no recourse or guarantee of getting your money back. Bitcoin is for people that can afford to take large risk and gamble and not for the global poor that has little financial cushion to fall back on.”

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Bitcoin Price Reaction: “An Ecosystem Built on Clay Feet”

August 18th, 2014 in 2014, Bitcoin, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1Inside Bitcoins
Mark Williams, School of Management

Ask the so-called “Man Who Really Built Bitcoin” why the price is falling and Gavin Andresen, chief scientist at the Bitcoin Foundation and former lead developer of the cryptocurrency’s source code, shrugs his shoulders…

Expert quote:

“The recent significant price collapse demonstrates that the bitcoin trading ecosystem has been built on clay feet.Since August the average daily trading volume has remained under 30,000 yet prices have plummeted by over 50% — from a high of $633 to a low of $309.  Bitcoin lacks liquidity and the recent low on BTCe is a case in point.  The new low of $309 was driven by a trade of approximately 7,500 bitcoins.  If bitcoin is going to survive it will need to gain stronger liquidity.”

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Bitcoin shakes up remittances as poorer people offered digital deals

August 18th, 2014 in 2014, Bitcoin, Mark Williams, Newsmakers, School of Management, The Guardian 0 comments

MarkWilliams1The Guardian
Mark Williams, School of Management

Social entrepreneurs in developing countries are using mobile phones and the controversial digital currency bitcoin to increase the speed, and slash the price, of international money transfers, raising the prospect of a revolution in the $600bn annual global remittance market…

Expert quote:

“Consumers learned a hard lesson [from Mt Gox]. Under the current structure, bitcoin participants have little protection and can lose everything. Since inception, bitcoin has been the designer currency of choice for the criminally inclined. Given the genesis of bitcoin and its inherent flaws, it is dangerous to assume that this new and unproven technology is the solution [to reducing remittance fees]. Bitcoin has the potential to be used for legitimate purposes but for this to happen it has to be restructured to provide consumer protection and tighter oversight, and meet important money laundering prevention standards.”

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Bitcoin trading website accused of defrauding thousands of customers

July 30th, 2014 in 2014, Bitcoin, Los Angeles Times, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1Los Angeles Times
Mark Williams, School of Management

A major bitcoin-to-gold trading website is facing a class-action lawsuit after allegedly defrauding thousands of customers…

Expert quote:

“You build a website, you put a piece of gold on it or a picture of a bitcoin and it gets people excited. It’s like they check their brain at the door.”

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What to consider before jumping into Bitcoin

July 24th, 2014 in 2014, Bitcoin, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1CiteWorld
Mark Williams, School of Management

Overstock.com offers it. So does Dish Network, Dell Computer, and most recently AirBaltic. But when a customer approached Spreadshirt CEO Philip Rooke to ask if it would start accepting Bitcoin as a payment option, Rooke said no…

Expert quote:

“Unlike credit cards, Bitcoins are not regulated in terms of accountability should a breach occur.”

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California Embraces Bitcoin

July 1st, 2014 in 2014, Bitcoin, E-Commerce Times, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1E-Commerce Times
Mark Williams, School of Management

California Gov. Jerry Brown on Saturday signed a measure that legalizes the use of bitcoins and other virtual currencies in the state. The law repealed previous legislation that specified only “lawful money of the United States” could be used in California…

Expert quote:

“Only sovereign nations, not individual state actions, determine legitimacy of currency. The legal actions taken by lawmakers in California were done to close a unique legal loophole relating to gift cards and other forms of money and are not a specific endorsement for bitcoin. Unlike the U.S dollar and all other sovereign-backed currencies, bitcoin is not legal tender, and no one is required to accept it when settling private or public debts.”

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Government auctions off Bitcoins from Silk Road seizure

June 29th, 2014 in 2014, Bitcoin, Mark Williams, Newsmakers, PBS NewsHour, School of Management 0 comments

MarkWilliams1PBS NewsHour “The Rundown”
Mark Williams, School of Management

Last fall, when the FBI shut down Silk Road, an online black market that delivered illegal drugs to users’ doorsteps, it also seized a bounty of the digital currency known as Bitcoin…

Expert quote:

“It’s not like stocks and bonds where you have a deep market of buyers and sellers, this is a market where 1,000 people control 50 percent of the coins produced. So the U.S. Marshals office is screening out many folks that would typically be available.”

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US begins ‘unprecedented’ auction of Silk Road bitcoins

June 27th, 2014 in 2014, AFP, Bitcoin, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1AFP
Mark Williams, School of Management

The bitcoin world kicked into high gear Friday as the US government began auctioning some of the virtual currency seized in an FBI investigation of dark Web bazaar Silk Road…

Expert quote:

“This auction doesn?t validate bitcoin but simply demonstrated that the US government is anxious to get out before prices drop again. The US Marshals Service (USMS) has over 29,000 reasons to sell by private auction and sell now.”

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Bitcoin Auction Draws Wall Street, Silicon Valley Bidders

June 25th, 2014 in 2014, Bitcoin, Bloomberg, Mark Williams, Newsmakers, School of Management 0 comments

MarkWilliams1Bloomberg
Mark Williams, School of Management

Buyers from Wall Street to Silicon Valley are lining up to bid on a cache of bitcoins worth about $17 million, underscoring the interest in the digital currency even after its boom and bust…

Expert quote:

“This auction doesn’t validate Bitcoin but simply demonstrated that the U.S. government is anxious to get out before prices drop again. The U.S. Marshals Service has over 29,000 reasons to sell by private auction and sell now.”

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