Alternative Finances

Apple Emerges, Bitcoin Price Erodes And Scotland Rejects Bitcoin (And Freedom)

Bitcoin Tracker | Week 41    

The launch of Apple Pay really has seemed to tamp down the buzz over bitcoin. That’s in spite of Cameron Winkelvoss’comment that he doesn’t see it as a threat because they are not comparable. Yep, he’s sure right about that.  But there’s always those independently minded Scots who might put it on the map. The rumor mill is flying that Scottish Independence (if that is what the Scots vote for) will mean that bitcoin could become the country’s new currency.

Bitcoin’s slide continues this week – it’s down to $450.68 from $474.21 according to the Bitcoin Price index. The Bitcoin Sentiment Index did perk up a bit to 91.86 after being at 88.45 (maybe they know something about the Scots and their interest in Bitcoin…)

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On the Plus Side …

Overstock CEO, Patrick Byrne, is determined to make bitcoin happen, even going so far as to donate 4% of all the companies profits earned via bitcoin payments to cryptocurrency-related causes. Reddit is testing bitcoin marketing and advertising activities and a group of entrepreneurs created a Kayak like platform for bitcoin exchanges, to ensure that buyers find the best price possible!

  • September 18, 2014 – If Scotland claims independence, some seem to think that bitcoin will be the new currency. Sure.
  • September 18, 2014 – HostDime, a global data center provider announced that they are now accepting bitcoin as a form of payment for their product and services, enabling people to be paid in bitcoin.
  • September 18, 2014 – A Vancover politician believes that the city should allow residents to pay taxes, fines and fees with bitcoin. (provided the value keeps increasing)
  • September 18, 2014 – A new startup, San Francisco Open Exchange, looks to fix the confusing aspect of bitcoin exchanges which is that each exchange has a different price. San Francisco Open Exchange will allow users an opportunity to capitalize on the spread across different exchanges and find the best price. What do you know, a Kayak for bitcoins!
  • September 17, 2014 – The first medical marijuana dispensary in Canada accepts bitcoins.
  • September 17, 2014 – is donating 4% of their revenue earned from bitcoin towards crypto currency adoption.
  • September 17, 2014 – Circle, which enables users to transfer bitcoins from one account to the other is now an app on iOS and Android devices.
  • September 16, 2014 – The Federal Reserve Bank of Boston released a new report that says that they’re not sure if bitcoin will ever get ignition, but it will stimulate innnovation in payments technologies.
  • September 16, 2014 – CNN Money now displays the cost of bitcoin.
  • September 16, 2014 – Reddit issued a statement saying that they are testing the buying of lists via bitcoin.
  • September 16, 2014 – LXC Coin is a new cryptocurrency that will invest in the peer-to-peer lending market launched a crowdfunding campaign.
  • September 15, 2014 – United Way will be the next charity organization to accept donations in bitcoin.

On the Dark Side …

Another story with hackers and bitcoins in the same sentence, this time in Australia where over 20,000 computers were held for ransom, with payment demanded in bitcoin. Dog the Bounty Hunter has some competition now with the emergence of Bitcoin Jesus who will go after hackers . (It remains to be seen if Bitcoin Jesus beat Dog the Bounty Hunter in the outrageous outfit competition.) And the central bank of Bangladesh took a hard line on cryptocurrency, and said that violators will do some hard time.

  • September 18, 2014 – Cameron Winklevoss says that he doesn’t really think that Apple Pay will compete with bitcoin as they are not very comparable.
  • September 17, 2014 – There was a massive hack on over 20,000 Australian computers, the computers were frozen and locked by hackers and then to be unlocked, one must pay ransom in bitcoin.
  • September 17, 2014 – The central bank of Bangladesh issued a new statement saying “Bitcoin is not a legal tender of any country. Any transaction through bitcoin or any other cryptocurrency is a punishable offense.
  • September 17, 2014 – The CEO of Mt. Gox, Mark Karpeles, said that he feels his life is at risk.
  • September 17, 2014 – “Bitcoin Jesus” offers bounties to hunt down hackers and thieves.
  • September 16, 2014 – The company that links bitcoin businesses to banks in the Isle of Man, Capital Treasury Services, is going to cut ties with the digital currency sector next month.




The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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