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February 20 2014


December 12 2013

Coinbase Raises $25M Led By Andreessen Horowitz To Build Its Bitcoin Wallet And Merchant Services
bitcoinCoinbase has raised $25 million in a Series B round led by Andreessen Horowitz in the largest funding to date for a company focused on the Bitcoin digital currency. Existing investors Union Square Ventures and Ribbit Capital also participated. Coming out of Y Combinator last year, Coinbase provides a wallet and payment processor for merchants, analogous to what PayPal created a decade ago to provide a simple online means for transactions.

December 09 2013

How Does Apple Really Feel About Bitcoin?
Bitcoin HeroOver the past couple of months there have been a few Bitcoin app rejections by Apple that have made some waves. First, the venture-backed startup Coinbase had its app removed entirely from the App Store. Today, a blog post from peer-to-peer messaging and payments app Gliph highlights its own rejection and the subsequent removal of its ability to transact in Bitcoin. Giph’s Rob Baganale talks about a few aspects of the rejection, including the technical details of how Gliph handles bitcoin, Apple’s motivations for rejecting the app and the possibility that it could change its mind. The rejection, Baganale notes, was based largely off of section 22.1 of Apple’s App Store review guidelines. The rule states that “apps must comply with all legal requirements in any location where they are made available to users. It is the developer’s obligation to understand and conform to all local laws.” Bitcoin is not illegal, but it is also not legal. This grey area is what is leading Apple to reject bitcoin transacting apps. We reached out to Baganale to talk about the way that Gliph functions, and how it differs from apps like Coinbase. He notes that the app works with wallets like those from Coinbase and BIPS, but doesn’t function as a wallet itself. Instead, it passes along requests for wallet addresses (just strings of numbers) to the wallets themselves, and back to the recipient. The setup also means that Giph does not deal with exchanges. “We didn’t want to specify which wallet you had to use,” Baganale says. “By doing it that way we aren’t really manipulating bitcoin directly.” This method means that Giph isn’t actually processing Bitcoin transactions, just facilitating them. It’s a distinction that may either be lost on Apple, or that isn’t evident enough to differentiate Giph from other Bitcoin wallet apps. Baganale notes that Apple itself may be planning on entering the payments game outside of its own stores, and that this may have influenced their decision to reject bitcoin apps. But that’s probably pretty unlikely. It is clear, though, that Apple isn’t acting as any real advocate of Bitcoin at this point, something that Baganale says it’s in a good position to do. In the end, the answer is likely fairly simple. From our understanding, Apple rejected both Coinbase and Gliph based on rule 22.1, specifically. Yes, the interpretation of the rule is fairly narrow —

November 15 2013

Apple Bumps Coinbase's Bitcoin App From The App Store, Android App Lives On
Time to chalk another one up for cryptocurrency bitcoin's reputation as a disruptor in the financial world? Today, news comes that Coinbase -- the YC-incubated startup that offers a bitcoin buying and trading platform for consumers, and APIs to developers to integrate bitcoin payments into apps and websites -- has had its iOS app pulled from the App Store by Apple, less than a month after it first appeared.

August 27 2013

Coinbase Removes 1% Merchant Fee For First $1 Million In Orders
Coinbase unveiled another incentive for merchants to start accepting Bitcoins. Starting today, payment processing is now free for everyone for your first $1 million in orders. After that, the regular 1 percent fee kicks in. While Bitcoin payment is still a novelty, removing the processing fee makes it a compelling alternative compared to PayPal's fee (2.9 percent + $0.30 per transaction).

August 16 2013

Coinbase Adds SMS Commands So You Can Send BTC Via QR On The Q.T.
Coinbase has added SMS commands to their already user-friendly Bitcoin wallet and purchasing systems. The system, which uses simple commands (qr $100 will make a QR code for a $100 withdrawal from your account) and a trusted phone to make things a bit more easier on BTC lovers.

July 12 2013

Coinbase Offers Instant Bitcoin Transfers For Verified Users
Coinbase, the Valley darling focused on making it easier to buy, sell, and store bit coin, has made it far easier to buy and sell BTC - if you give up just a smidge of privacy. The company is now offering instant Bitcoin purchases to verified users who supply private information about themselves using standard methods including answering the same public data questions used by banks and credit card companies.
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