4
1 min read

800 Terminals Across Romania Now Sell Bitcoins

Bitcoin ATMs have become one of the symbols of cryptocurrency, with multiple competing manufacturers and hundreds of units deployed around the world. Despite their growing popularity, however, Bitcoin ATMs are still vastly outnumbered by traditional financial terminals. While more Bitcoin ATMs are undoubtedly on their way, one of the best ways to reduce this disparity […]

54
1 min read

800 Terminals Across Romania Now Sell Bitcoins

Bitcoin ATMs have become one of the symbols of cryptocurrency, with multiple competing manufacturers and hundreds of units deployed around the world. Despite their growing popularity, however, Bitcoin ATMs are still vastly outnumbered by traditional financial terminals. While more Bitcoin ATMs are undoubtedly on their way, one of the best ways to reduce this disparity is not by building new units, but by converting existing terminals to handle bitcoins.

This is the route being taken by Bitcoin Romania, the operators of one of the world’s busiest Robocoin machines located in Bucharest. “It is our dream to see Bitcoin become a viable payment option in Romania, and to show the rest of the world that it can be done,” said George Rotariu. “We believe that in order to realize this goal we need to leverage existing infrastructure and make bitcoin available to as many users as possible.”

Read the full story at: http://bitcoinmagazine.com/17249/800-terminals-across-romania-now-sell-bitcoins/

5
1 min read

Bitcoin Payments Company Bitnet Raises $14MM Funding Round

Not even a year old, San Francisco Bitcoin payment processing platform Bitnet announced on October 20th that it had closed a Series A funding round worth US$14 million. The funding round was led by Highland Capital Partners, a global venture capital firm whose investments include Malwarebytes and fashion startup Rent The Runway. Existing investors also […]

65
1 min read

Bitcoin Payments Company Bitnet Raises $14MM Funding Round

Not even a year old, San Francisco Bitcoin payment processing platform Bitnet announced on October 20th that it had closed a Series A funding round worth US$14 million.

The funding round was led by Highland Capital Partners, a global venture capital firm whose investments include Malwarebytes and fashion startup Rent The Runway. Existing investors also participated in the funding round, one of which is Japanese retail giant Rakuten, whose parent company bought Viber earlier this year for US$900 million.

Rakuten’s reported revenue in 2012 came to US$4.6 billion. “We listened to huge retailers,” Bitnet’s CEO and co-founder, John McDonnell, said in a statement, adding:

“A lot of these bigger companies have looked at existing solutions and are still on the sidelines. With Bitnet, we’re building the integrations, systems and technologies that bigger companies need in order to accept Bitcoin. Being scalable and integrating with big, existing payment systems is what’s important to them. Uptime is important. Bitnet removes the risk of accepting Bitcoin, allowing merchants to take payments with zero liability. Bitcoin is like cash, and it’s developed for the Internet. Merchants understand that, and they’re very excited.”

Bitnet’s core team helped build CyberSource, a payments gateway that Visa bought in 2010 for US$2 billion. Since then, the company’s founders and senior executives appear to have embraced cryptocurrencies as an evolution in payments.

Read the full story at: http://cointelegraph.com/news/112762/bitcoin-payments-company-bitnet-raises-14mm-funding-round

4
2 mins read

The Math Behind Bitcoin (Elliptic Curve Digital Signature Algorithm)

One reason bitcoin can be confusing for beginners is that the technology behind it redefines the concept of ownership. To own something in the traditional sense, be it a house or a sum of money, means either having personal custody of the thing or granting custody to a trusted entity such as a bank. With […]