Last updated on May 18th, 2014 at 08:24 pm
Let’s remember the biggest news of the past week with Bitcoin Examiner’s latest weekly round up.
Artist releases Bitcoin song while China forces media to ignore summit
Zhang Zhang clearly does not share the same vision as the Chinese financial authorities when it comes to Bitcoin. The Chinese musician recently released a new very special song entitled “We are all Bitcoin”, promoting the world’s most famous cryptocurrency in a country that has been sending mixed messages regarding the legality of digital money.
The song highlights how Bitcoin is a symbol of freedom and honesty, destroying barriers and frontiers on a daily basis. Zhang Zhang even praises Bitcoin as a “miracle” in this song, which can be found on YouTube.
Shutdown of China’s FXBTC exchange leads to customer outrage
Some former customers of the now-defunct China-based digital currency exchange FXBTC are reporting that its operators are still holding customer funds, and that their attempts to retrieve their holdings have been unsuccessful.
Reports suggest these customers did not receive word that the exchange was shutting down, and as a result, did not withdraw funds before a deadline set by FXBTC.
Europe celebrates opening of two new Bitcoin embassies
The European Bitcoin community has two good reasons to celebrate: two new cryptocurrency embassies just opened its doors in France and Poland, showing to the rest of the world just how much the “old continent” is truly committed to the promotion of digital money.
The project La Maison du Bitcoin (The House of Bitcoin), located in Paris, has been strongly discussed around the web, much like the Ambasada Bitcoin in Warsaw. They both opened doors this week with different services and solutions to help their local communities.
eBay CEO: we are ‘actively considering’ Bitcoin integration
eBay CEO John Donahoe told shareholders at the annual meeting in San Jose, California, that the company is “actively considering” integrating Bitcoin with PayPal.
When asked by a shareholder about Bitcoin’s potential role in global trade, Donahoe responded by saying that the digital currency “will play a very important role in the future”.
Bank of Canada’s newest report launches warning against Bitcoin
A new report released by the Bank of Canada (BoC), the country’s financial authority, launched the latest warning against Bitcoin: according to the document, the widespread adoption of the world’s most famous cryptocurrency could undermine the stability of the current financial system.
The authors of the report, entitled “Understanding Platform Based Digital Currencies”, believe “there could be potential risks to overall ?nancial stability if Bitcoin became a signi?cant means of payment and the Bitcoin system remained unstable”. Cryptocurrency’s biggest flaw, according to the bank, is the volatility of its price, among other problems that constitute a risk for the users.
CNET founder Halsey Minor launches Bitcoin platform Bitreserve.org
Halsey Minor, founder of CNET and an early backer of Salesforce.com, is launching bitcoin platform Bitreserve.org. The site aims to address the volatile nature of the cryptocurrency by providing real-time transparency, transaction traceability and proof of solvency.
“Bitcoin is a remarkable innovation, created and supported by lots of very smart people,” Minor said. “Bitreserve is built on top of the bitcoin network, allowing members to convert bitcoin into money they know, trust and understand.”
BitPay helps Toshiba VisualTouch POS system to accept Bitcoin
The world leader in business solutions for the Bitcoin economy, BitPay, has partnered with VisualTouch, Toshiba’s premiere POS software solution, currently used by more than 6,000 merchants spread across 1,600 locations.
The integration with the point of sale system will allow cryptocurrency to reach thousands of new businesses and even more users in the hospitality, food, grocery, retail and concession industries.
Dutch payment service Mollie takes Bitcoin to 10,000+ merchants
Dutch payments provider Mollie has now added Bitcoin to its long list of online payment methods.
Established in 2004, Mollie is one of the leading payments services in the Netherlands, Belgium and Luxembourg, catering to more than 10,000 merchants across the Benelux region, according to the company.
Bitcoin ATM Genesis1 lands in Queensland
The machine, which can be found at The Roastery Cafe (25, Glenelg Street), is a Genesis1, manufactured by GenesisCoin. “There’s a lot of people who have been waiting for this. There’s Bitcoiniacs who have meetings everywhere every week, and these groups are growing rapidly”, Roastery Cafe co-owner Bruce Carrall said.
QwikBit signs deal with Lamassu for Bitcoin ATMs
According to a release from QwikBit, the UK-based operator has signed a deal with bitcoin ATM (AVM) supplier Lamassu. The partnership will help make QwikBit one of the largest Bitcoin AVM suppliers in the United Kingdom.
QwikBit plans on creating a massive Bitcoin ATM network within the United Kingdom by placing units in cafes, shops and other populates places.