On the road between here and a world where Bitcoin and cryptocurrencies reach their full potential, there’s still a lot of uncertainty. But amidst that uncertainty is opportunity, and it’s good to see organizations like liv.rent pushing the envelope in a positive direction.
Have you ever wondered how the “backup phrase” for your Bitcoin wallet
can be used to “recover” your funds? And have you ever wondered
whether (or how) you can use that same backup phrase across different Bitcoin-wallet
applications — such as Ledger, Coinomi, and Bread Wallet?
Recently Roger Ver and Jameson Lopp
on the Tom Woods Show regarding the question of
Bitcoin versus ‘Bitcoin Cash’ (aka Bcash).
We usually try to steer clear of the “politics” of Bitcoin, but some
observations may be valuable without taking sides.
Most serious Bitcoiners use their coins for one thing: to “hodl”.
Real true-blue Bitcoin advocates may spend BTC, but usually just to incentivize
adoption — Bitcoin altruism you might say.
But today we're giving you an incentive to spend bitcoin, and hopefully an
incentive to would-be Bitcoin users too.
We are constantly tweaking our search algorithms.
In addition, importing new merchants requires relentless work on our
product-indexing and crawling code.
Hardly a week goes by without numerous small upgrades.
With the Bitcoin price having a mostly upward bias recently,
volatility has been a less-cited argument against adoption of crypto-currencies.
Much of the chatter about Bitcoin's (lack of) stability seems to have subsided.
But while things are calm it's probably worth reminding ourselves that
the volatility will in all likelihood return. But also, and more importantly,
we should remember that that's okay.
The attrition in the Bitcoin space has been relentless. The last few years have seen
not only loads of small stores go out of business; a number of
big retailers — most recently Rakuten.com — have stopped
accepting Bitcoin as well.
Bitcoin has always drawn comparisons to gold, and since the ‘early days’
(ca., 2011) gold and silver have been a popular thing to spend one's bitcoins on.
Back then, we had hobbyist-like
outlets such as Coinabul (if not 100% reliable), and today we have more than
half-a-dozen serious coin- and bullion-vending brokers —
all listed on Spendabit!
A popular smear against Bitcoin is to label it a “Ponzi scheme”.
Recently, someone on Reddit was
asking how to counter this claim.
We took a little time to offer a response, and thought it worth expanding upon here.
Spendabit is pleased to announce the launch of Region Support
(i.e., “localized” search) for all of the European Union.
This presently includes more than one-hundred merchants from
a dozen countries, but
will include products from other EU countries as soon as Bitcoin-enabled merchants
Regular visitors to Spendabit and passers-by on
our Twitter feed might have noticed a slow-down
in new merchants recently. Even worse, you may have even experienced an outage of our website
in recent weeks. We write to assure these are temporary phenomena, on the one hand due
to some reorganization to our infrastructure, and on the other hand due to our working
busily on a product we hope will make our efforts more sustainable.
Recently, we were asked by bitwhispers.com if
we could answer a few questions about our service and about Bitcoin in general. See the
exchange below to hear some of our thoughts on recent Bitcoin-related scams and hacks,
what we see in store for the future of Bitcoin, and about some of the coals we
have in the fire here at Spendabit.
We were having some pretty serious, though intermittent, database issues over the course of the last week. We have not only tracked down and fixed that 'leak', but we have deployed a new backend for our Bitcoin Product Search Engine.
If you're a regular user of our “search engine for things you can buy
with Bitcoin”, you may have noticed an increasing number of
out-of-stock product listings or altogether broken links lately.
This is a quick note to let you know the problem is being actively worked on
(and for many products it has already been solved).
We've had a theory here at Spendabit, and with circumstantial evidence to support it,
that people tend to spend fewer bitcoins when the Bitcoin price is down. But just last
week, Adafruit (one of
hundreds of Bitcoin-accepting merchants listed on Spendabit) put out
a short blog-post featuring a chart giving further credence to our
thesis, showing Adafruit's Bitcoin-based sales have gone down substantially over the past year,
right alongside the market price for obtaining a bitcoin.
A little over a week ago we attended the
Midwestern Bitcoin Conference
at Purdue University and gave a talk entitled
“Why NOT Bitcoin?” The premise: to put one's self in the shoes
of the critics and find the best arguments against crypto-currency, Bitcoin
I've been saying it since I read
Bitcoin is the most important technological
innovation since the Internet. Back then (in early 2011) it sounded crazy; today, lots
of people say things like that.
Spendabit is happy to announce you can now find the excellent lineup of
precious-metals coins, rounds, and bars from
Amagi Metals amongst the millions
of products we index — all purchasable with your favorite digital money, Bitcoin!
Amagi Metals is a particularly notable addition to our roster — they've been
a longstanding supporter of crypto-currencies,
and honest forms of money
in general; not to mention, they were one of the first precious metals dealers
to accept Bitcoin.