Entrepreneurship

How Bitcoin solved my startup’s international banking problem

"I spent literally months and hundreds of dollars trying to open a bank account in Europe. I called every bank I could find. Most of them were not willing to open an account for a US citizen due to recently tightened money laundering laws and the few banks that would allow me to open an account required that I travel to their country to submit my application in person. Some of the banks that wanted me to travel to the UK to open an account actually had a branch in the city I live in within the US. I decided to add the ability for users to buy & sell items using Bitcoins on my site in order to attract a niche audience. However, I had also solved my banking problem without even realizing it." Continue reading →

Continue ReadingHow Bitcoin solved my startup’s international banking problem

Spy Car Protects Against Unscrupulous Cops [2012]

"After a couple of negative interactions with what he calls "unscrupulous cops", Rick took the initiative to outfit his ride with some cutting-edge technology. And he founded Veterans Against Police Abuse to encourage others to do the same - use technology to create a transparent record of interactions. That, he says, is the surest way to bring-about a safer society. To learn more about the technology in Rick's ride, check out this page on his site, which includes links to many of the devices housed in his car." Continue reading →

Continue ReadingSpy Car Protects Against Unscrupulous Cops [2012]

Germany’s government and media are bolstering bitcoin popularity

"Last month, BaFin (the German ministry of finance) announced it does not consider bitcoin to be e-money or a functional currency. Instead, it referred to it as 'private money' and a 'financial instrument'. Just last week, Bitcoin.de received confirmation from BaFin that it has no objections to the exchange’s partnership with Fidor Bank. The partnership means customers will soon be able to trade on bitcoin.de in near real-time using a free FidorPay giro account. Elsewhere in the world, bitcoin companies have been facing problems when it comes to finding banking partners. For example, US company Tradehill recently had to cease bitcoin trading due to 'operational and regulatory issues'." Continue reading →

Continue ReadingGermany’s government and media are bolstering bitcoin popularity

Why You Should Care About Bitcoin

"Bitcoin has massive implications for markets that the current financial services industry has ignored or struggled to penetrate. Online commerce all but requires preexisting access to a credit card or bank account, yet according to the GSMA 1.7 billion people have a mobile phone and no alternative to the cash economy. As digital cash, Bitcoin appeals directly to consumers as an accessible payment alternative without the risk and fees associated with existing credit and debit networks. Rapid growth of startup payment networks like M-PESA in Kenya (founded in 2007 and now processing 30%(!) of the country’s GDP) are a great early indicator for both market demand and adoption." Continue reading →

Continue ReadingWhy You Should Care About Bitcoin

James Altucher: How To Break All The Rules And Get Everything You Want

"The key is that we were simply nice to everyone and didn't argue and were very thankful at everything we got to do. Don't break the laws. Don't kill people. Don't steal. But most other rules can be bent. If you act like the river, you ultimately flow past all the rocks along the way." Continue reading →

Continue ReadingJames Altucher: How To Break All The Rules And Get Everything You Want

Dark Wallet: A Radical Way To Bitcoin

"In the Bitcoin world, where banks no longer serve as intermediaries between people and their money, bank accounts have been replaced by online 'wallets' that people can use to virtually store and send bitcoins. Wilson and Taaki’s project is a simple wallet designed to be easier to use for people who aren’t tech-savvy; they hope that in turn accelerates the currency’s rate of adoption around the world. The wallet will be open-source and free to use. Eventually, Wilson and Taaki hope to create a vast stable of Bitcoin-related tools. The goal, for Wilson, is similar to what he tried to do with the Liberator: use technology to remove government intervention from his life, and from the lives of like-minded people." Continue reading →

Continue ReadingDark Wallet: A Radical Way To Bitcoin

3D-printed gun maker to launch Bitcoin wallet next

"We haven't heard the last of Cody Wilson, the creator of the controversial 3D printed gun that prompted an intervention by the US State Department. For the past two months, the anarchistic 25-year-old has been working on a piece of software designed to help people circumvent the government using the semi-anonymous virtual currency Bitcoin. Wilson's new product, made with Bitcoin entrepreneur Amir Taaki, is tentatively called Dark Wallet. Bitcoin users rely on digital 'wallets' to store their coins, but many wallets are confusing to use. Dark Wallet, which Wilson hopes to launch by February of 2014, will be a browser plug-in that is free, easy to install, and accessible even to non-technical users." Continue reading →

Continue Reading3D-printed gun maker to launch Bitcoin wallet next

Regulation Opens Door to FinTech Startup Opportunities

"Complying with existing regulations and coping with future regulatory changes represent the biggest opportunity for startups to break into the potentially lucrative world of FinTech (Financial Technology), according to two seasoned FinTech players who spoke at The Wall Street Journal Tech Cafe in London. 'The easiest way to start a business to work within the finance sector is to look for a regulation that is coming down the pipe and develop a solution for that thing,' said Kirk Wylie, co-founder of OpenGamma, an open-source analytics and risk management platform for the financial services industry. 'Anywhere you see new regulation is always a way for startups to make money.'" Continue reading →

Continue ReadingRegulation Opens Door to FinTech Startup Opportunities

Dwolla CEO Ben Milne: Why charge 25 cents for an $11 million transaction

"Dwolla got its start from a simple idea: that credit card fees are too expensive for merchants and consumers. CEO and cofounder Ben Milne took his frustration really far, building an entirely new payment network to get around credit cards and PayPal. Rather than charge a percentage, Dwolla is free for transactions under $10 and just 25 cents for anything over that amount. Over a billion dollars has changed hands through Dwolla in 2013 alone, and the company has the backing of top investors including Union Square Ventures and Andreessen Horowitz. Plus, why it's keeping its headquarters in Des Moines, Iowa." Continue reading →

Continue ReadingDwolla CEO Ben Milne: Why charge 25 cents for an $11 million transaction

Once again the Winklevoss twins get beaten to launching their big idea

"Mark Zuckerberg beat the twins Cameron and Tyler Winklevoss to the punch in launching Facebook. Now someone else seems to be stealing a march on their plan to launch an investment scheme for bitcoin. The Winklevii’s scheme, unlike SecondMarket’s, is for a public ETF traded on a major exchange open to retail investors. But the SEC may not approve it any time soon because it has yet to work out oodles of legal questions about the cryptocurrency. At a conference last week, the brothers were vague, telling attendees that regulators could set parameters on bitcoin 'over the next 6 to 12 months.'" Continue reading →

Continue ReadingOnce again the Winklevoss twins get beaten to launching their big idea