The volume of Bitcoin (BTC) used in commerce has declined significantly over the course of the last year, Bloomberg reports Aug. 1. Citing market research firm Chainalysis, Bloomberg reported that the volume of Bitcoin received by the largest 17 crypto merchant-processing services hit a low of $60 million in May 2018, after reaching a peak of $411 million in September 2017. The use of Bitcoin for payments has declined in tandem with its price, which peaked at almost $20,000 in December 2017 before its subsequent drop of over 50 percent. While the amount received by services such as BitPay, Coinify, …

BitFury Capital, the VC arm of the multifaceted BitFury Group, announced Wednesday it had invested an undisclosed amount in payment processor GoCoin. BitFury also said it would use GoCoin as the default payment processor for its worldwide network of vendors. GoCoin will offer BitFury a little bit of cryptocurrency flexibility, as the company processes Litecoin and Dogecoin transactions in addition to Bitcoin transactions. PayPal selected GoCoin as one of its Bitcoin payment processors in September. “Payment processing is a critical element in stimulating the Bitcoin economy," BitFury Capital managing partner Marat Kichikov said in a statement. “We are committed to …

PayPal co-founder and venture capitalist Peter Thiel believes Bitcoin has succeeded as a currency, but still lacks as a payment system. On October 15, Peter Thiel was invited to the University of Chicago Booth School of Business to speak about entrepreneurship and business practices for an event organized by the Polsky Center for Entrepreneurship and Innovation. The event was hosted by Booth School of Business' Norman R. Bobins Professor of Economics Randall Kroszner, and gathered more than 1,000 members of the University community, reported the Chicago Maroon. Thiel started his talk with a critique of what he calls "a pervasive, …

Nearly 200 entrepreneurs, enthusiasts, private sector representatives and governmental officials were convened last week for the Crypto Valley Summit 2014 in the Isle of Man to share their points of views on numerous topics involving digital currencies and discuss the opportunities and challenges that is facing the industry. The two-day event took place on the island from September 17 to 18 and gathered leading industry entrepreneurs from all over the world including the Founders of GoCoin, Steve Beauregard and Brock Pierce, the CEO of Counting House, Paul Davis, the CEO of Instabil, Jason Field, and the CEO of BankToTheFuture, Simon …

Even though there were some unpleasant vibes regarding Bitcoin in Vietnam government, the outlook for the crypto and altcoins is promising. A Vital Cooperation The reason for such an unlikely scenario is the venture enterprise that’s got invested not only by Vietnam but also Israel and Germany. The venture is called Bitcoin Vietnam and it works similarly to BitPay, GoCoin and others cryptocurrency analogies to Bitcoin. The success though can be addressed not only to Vietnam but, more importantly, to it’s cooperation with Bits of Gold an exchange for the main digital currency. Another important alliance is with the Bit2c …

As of previous week, BitPay has surpassed an impressive number of 26,000 approved merchants that are willing to use the service to process their Bitcoin payments. Maybe 26 tons is not as round number as 10 that service managed to reach half a year ago, but that doesn’t make it less respectable in or eyes. Only three and a half month ago, a fellow author wrote about yet another milestone reached – 15,500. That definitely counts as successful expansion in my books. As a short recap. BitPay is PayPal for Bitcoin. Customer makes a purchase using bitcoins but seller receives …

Triple hurray for the service that doesn’t forget about the lesser siblings of the Bitcoin. GoCoin has turned its attention towards DogeCoin. GoCoin fulfill their promises In the beginning of the year we told you about the GoCoin’s decision to accept Litecoin and in the long run continue adding up more altcoins. Seems like Steve Beureugard, the CEO of the service wasn’t just throwing words when he told that originally GoCoin had been designed to support not only Bitcoin but also many different altcoins. GoCoin works as a PayPal for cryptocurrency working as a middleman in transactions. Originated in Singapore …