Alternative Finances

Can An Apple (Pay) A Day Keep The Bitcoins Away?

PYMNTS.com Bitcoin Price and Volatility index.

Follow 303 Cryptocurrencies here: http://coinmarketcap.com/ .

Bitcoin Tracker | Week 40    

Apple Pay is here and will it kill bitcoin?

Well, maybe a bit coincidental but bitcoin prices fell to $474.21 from $486.93 on the news, according to the PYMNTS.com Bitcoin Price index. The Bitcoin Sentiment Index mirrored that , well sentiment, as it dropped below 90 to 88.45  – it had been hovering in the mid-90s. For this week at least, the general public thinks that cryptocurrency prospects are losing steam, or maybe just don’t care enough to be, well, sentimental.

However, the company conglomerate that in 2009 would claim that they were creating a “new world currency” is open to the future being bitcoin. Braintree, which is, of course, owned by PayPal which is owned by eBay said that “we’re at the right time for this [bitcoin], and to see how to propel it forward” and took the plunge and is now processing bitcoin. Sir Richard Branson still isn’t convinced, and guess what currency was used to buy the 5 million stolen G-mail passwords?

As always, if you have any news you’d like to share, please send it our way at contactus@pymnts.com.

On the Plus Side …

A million dollar mansion is being sold for bitcoin! And, with the pairing of bitcoin and Braintree, consumers and businesses will have another payment option to consider. Overstock now accepts bitcoin anywhere in the world.

  • September 11, 2014 – Overstock.com now accepts bitcoin internationally, they’re the first major retailer to do so.
  • September 11, 2014 – A UK bitcoin ATM grossed £38,000 ($61,500) in August. (It’s hard to know whether this is good or bad news.)
  • September 10, 2014 – Coinbase extended bitcoin access to 13 European companies by allowing those with authorized European bank accounts to buy and sell bitcoins in exchange for Euros
  • September 9, 2014 – Jose Pagliery, a writer for CNN money, published a book on Bitcoin this week, “Bitcoin and The Future of Money”.
  • September 8, 2014 – PayPal will start accepting bitcoins by integrating bitcoin into EBay’s Braintree unit. PayPal and Braintree will work with bitcoin payment-service provider Coinbase to enable payments.
  • September 8, 2014 – BitFury Group, a bitcoin infrastructure provider and bitcoin transaction processing company, announced that they are donating 100 bitcoins to an ALS/MND research Centre.
  • September 8, 2014 – CoinSafe may have created a solution that can process BTC transactions in seconds and might reduce the time taken to move Bitcoins.
  • September 5, 2014 – A million dollar home in Washington is being sold for bitcoin.

On the Dark Side …

The Bank of England doesn’t really see bitcoin as a threat, but they also don’t think that digital currencies are likely to achieve widespread usage as they are currently designed. Sir Richard Branson isn’t really convinced either.

  • September 11, 2014 – Sir Richard Branson said that he believes that Bitcoin is a functional (but still volatile) currency
  • September 11, 2014 – The Bank of England declared that bitcoin in circulation in the U.K. don’t really pose a threat to the financial system but that could change if the scale grows significantly.  However, bitcoin does raise interesting possibilities as a technology.
  • September 11, 2014 – Spain cracked down on bitcoin loopholes by issuing a ruling that gambling companies in Spain must now apply for licenses.
  • September 10, 2014 – Nearly 5 million Gmail usernames and passwords were published on a Russian bitcoin forum.
  • September 9, 2104 – A hacker has apparently gained control of Satoshi Nakamoto’s email account and will apparently offer up personal details in exchange for Bitcoin.

 

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The Payments 2022 Study: Building A High-Performance Payments Team For Fraud Detection, a PYMNTS collaboration with Stripe, examines how digital platforms of all sectors and sizes plan to develop their anti-fraud teams as part of their their broader growth and development strategies. Drawing from an extensive survey from approximately 250 payments heads at digital platforms in the U.S. and abroad, our study analyzes how poor anti-fraud capabilities can harm platforms’ long-term growth strategies, and how they can build high-performing teams to tackle these challenges.

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