Welcome!

API Journal Authors: William Schmarzo, Kalyan Ramanathan, Carmen Gonzalez, Liz McMillan, Elizabeth White

News Feed Item

Development Capital Group Discusses the Future of Bitcoin and Who Is Opposing It

There Is Talk About Regulations, but Some Companies Are Helping the Growth of Cryptocurrency Like Bitcoin While Others Are Hurting It

MIAMI, FL--(Marketwired - February 07, 2014) - When Development Capital Group went to the North American Bitcoin Conference we met with many of the leading people in the industry on cryptocurrencies, and received a lot of opinions on the future of the market. Last week, Development Capital published an article called "Bitcoin Arrives" which went over cryptocurrency from a historical and ideological perspective by highlighting some key information in the industry.

It seems that people are moving past the idea that these cryptocurrencies, like "Bitcoin," will be used for illegal activity. Whether it was a payment processor, a merchant, a banker, or a government official, each had their individual opinions about how to properly handle it. One side is talking about how the United States government will come in and regulate the newly adopted payment processor, while some are arguing about how it's a temporary thing and going away.

In New York, the Bitcoin community met with regulators to negotiate how to handle this new form or system of payment. The New York Department of Financial Services discussed about "BitLicense" as a potential requirement since the digital currency exchange platforms that are popping up are now deemed "transmitters of money." If the company is accepting a FIAT currency into Bitcoin, and exchanging it among users as well as different currencies, the company is being categorized as a transmitter of money, and this is a place where the government is required to regulate how these transactions are handled.

The New York State Attorney's Office charged Charlie Shrem, CEO of BitInstant, for facilitating in a money laundering scheme, who oddly enough was suppose to be at the North America Bitcoin Conference. The focus in this case though is not the use of Bitcoin itself but the way he transacted with Silk Road users. The same process of money laundering can be done with cash, gold, or wire fraud. Government officials are looking at the lack of regulation that is surrounding Bitcoin. 

Other than regulation, it's important to watch how companies are reacting to this lack of government oversight. Yesterday, we saw a big blow to the Bitcoin community when Apple removed the last Bitcoin wallet app Blockchain from their app store. Bitstamp dropped as low as $752 yesterday with the release of this information, which seems to be a reaction to the news. This still seems to be pretty stable compared to the 50% drop when China's biggest Bitcoin exchange, BTCChina, stopped accepting deposits in Chinese yuan in December. The market has seemed to be less volatile recently when China allowed the acceptance of the Chinese yuan again this past week.

As more governments are opening up to digital currencies, we are seeing more support from big companies. Overstock's CEO Jonathan Johnson is active in the limelight on his personal investment in Bitcoin and started accepting Bitcoin at Overstock. Now Overstock is discussing about accepting the less talked about altcoins. Accepting Bitcoin for companies has brought in some pretty good press and sales. TigerDirect accepted Bitcoin, and did $250,000 in sales in 17 hours. Now we see more companies that are accepting Bitcoin like Tesla, Zynga, Domino's Pizza, Virgin Galactic, Wordpress, and many more.

There is much speculation about the market with numerous articles covering various movements. The Google support team discusses their integration of Bitcoin for Google Play, while Google Ventures has funded a Bitcoin startup called Ripple. Overstock.com's CEO claims it's a matter of time before Amazon accepts Bitcoin. Ebay has publicly backed the idea of integrating Bitcoin while Coinbase has recently received $25 million from Silicon Valley venture capital firm Andreessen Horowitz.

What we are seeing is a pretty positive growth in the market, and a lot of attention from various venture capital and investment companies. If we look at the price of Bitcoin we are seeing it continue to go up with some reversals, but ultimately in an upward trend. We see a lot of activity in this market and continue to monitor what is happening in the industry.

You can read Development Capital Groups original article here.

Image Available: http://www.marketwire.com/library/MwGo/2014/2/7/11G012200/Images/bitcoinHeader2-15209006364.jpg

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...