6/20/14 – OKCoin’s new OK funds, Assange’s Bitcoin Reddit AMA, & an Uncoinventional family vacation

Home Media 123 6/20/14 – OKCoin’s new OK funds, Assange’s Bitcoin Reddit AMA, & an Uncoinventional family vacation
Published on June 22, 2014

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Following Apple’s update to their App Store Review Guidelines, a new Coinbase app has reappeared on the iOS store. However, the app was not actually released by Coinbase, but rather by AirBnB developer and Bitcoin enthusiast Andrew Vilcsak, who built the app on the Coinbase API. Coinbasehas not rejected the app however, instead responding positively, saying they’ve reviewed the code and believe it to be secure. It still remains unclear if Coinbase is planning to release an official version of their iOS wallet app themselves.

Bitcoin payments processor BitPay tweeted today that the new “BitPay” iOS app which also recently appeared on the Apple app store is NOT an official app from the company, serving as a reminder for users to be wary of apps that may be making unsupported claims and may not actually be sanctioned or trustworthy.

Major Chinese Bitcoin exchange OKCoin announced today their release of new peer-to-peer margin trading features, including both fiat and bitcoin borrowing and lending, and 2 new interest-yielding investment funds dubbed the ‘OK Standard Fund’ and the ‘OK VIP Fund’. In their announcement, OKCoin explains that “users can earn interest on their idle funds by lending to other users in the market, also at an interest rate and duration of their choice. The system will automatically match the most suitable loans with those looking to borrow.”

SecondMarket has announced they they are not only planning to participate in the US Marshals upcoming bitcoin auction, but are also making it easier for others to as well. The New York-based Bitcoin exchange will be allowing more ‘qualified customers’ to enter the auction process by submitting their orders into an aggregate bid. Those participating in SecondMarket’s syndicate will be charged a 5% facilitation fee, and have a minimum bid of $50,000, which is much lower than the US Marshals required minimum bid of $200,000. What’s more, SecondMarket will be donating 10% of all auction fees they receive to theElectronic Frontier Foundation. The deadline to enter orders for the auction will be Thursday, June 26 at 12pm EST.

Russia’s Financial Action Task Force appears to be working on a forthcoming paper that will clarify the country’s stance on Bitcoin and other digital currencies, aggregating extensive research from anti-money laundering and terrorist financing officials at the FATF and other agencies in Russia, the US and UK. Russia has previously been very cautious about digital currencies, with past government statements even seeming to ban their use. The coming paper will likewise cover potential rsks, but may present a more positive overall outlook, according to project manager Eugene Volovik, who himself said “Just as e-mail today has replaced the usual post offices and telegraph came to replace SMS and popular services such as Skype or Whyber […] radical changes [could] begin with virtual currency.”

In Switzerland, government financial regulators have approved the launch of a network of new Bitcoin ATMs across the country from Bitcoin ATM operator SBEX, which has been accepted as a member of regulated non-profit organisation ARIF, and subsequently granted a money transmitter licence. Now having fulfilled all the regulatory requirements to operate an ATM network, SBEX plans to set up a web brokerage and install 9 ATMs from Canadian manufacturer BitAccess by the end of the year.

In an AMA on Reddit today, Wikileaks founder Julian Assange shared a conversation he had with former Google CEO Eric Schmidt about Bitcoin in 2011. In their conversation, Assange stated that Bitcoin is “very important, actually. It has a few problems. But its innovations exceed its problems.” Assange then went on to tell Schmidt, “You should be an early adopter. Because your bitcoins are going to be worth a lot of money one day.” Schmidt did not seem sold, however, which Assange particularly joked about in his AMA today, saying “Fortunately he didn’t listen, or else he’d own the planet by now.”

Sovereign Living hosts John Bush and Catherine Bleish are taking their two kids and hitting the road for four weeks, spending only bitcoin while they travel across the country in their minivan. The plan is to find bitcoin-friendly restaurants and hotels wherever possible, and then purchase Gyft bitcoin gift cards for everything else they need. The family is headed up to DC to attend the Bitcoin In The Beltway conference which kicks off today, and then continue on through New York, New Hampshire, Missouri and then back home to Texas. You can follow their journey at UnCoinventional.com. We’ll also have coverage on this weekend’s Bitcoin In The Beltway conference for you next week as well.

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