bitcoin and digital currency now viable payment method at major retailers

Flexa announced today that bitcoin and other digital currencies will be able to be used widely at prominent retailers (such as Whole Foods, Home Depot, Lowe’s, Nordstrom, Crate & Barrel, Regal Cinemas, Gamestop, Baskin Robbins, Petco, Lowe’s, Office Depot and Starbucks), through its new secure digital payment app.

Through integrating with services that support digital wallets such as Apple Pay, the service pays in real-time, current-value currency, making checkout a seamless process.

FORTUNE reports on the move – read the full article here.

Twitter CEO states opinion that the future currency of the internet will be bitcoin

 
 

“Appearing on the Joe Rogan Experience podcast, Twitter and Square CEO Jack Dorsey stated that the Internet will eventually have a currency, which he thinks will likely be Bitcoin,” Bitcoinist reports.

Citing the consistency of value independent of political borders and philosophies, among other attributes, Dorsey compares the internet to a country that would have its own universally-accepted currency.

Banks and investors continue to share differing opinions and reviews. For more, read the rest of the article.

As Bitcoin market declines, unexpected benefits arise

As the bitcoin market dropped in November, hundreds of thousands of miners left the market and shut down their servers, in a logical reaction to the sharp decline in BTC value. But the change in value is just one change among many in the industry, the combination of which is leading to great opportunity for committed mining companies, and potential opportunities for even small-scale miners, as the story develops. Coin Central has more details:

Cryptocurrency values drop, optimism remains high

We are entering in the phase when there’s a flushing out of the market. There will be relatively few operations that come out the other side.
— Malachi Salcido

As cryptocurrencies trend downward across the board this week, analysts and speculators weigh in with their opinions on what might happen with the cryptocurrency market. Despite the downturn, many remain optimistic about the industry. Canaan Creative announced deep discounts on their AvalonMiner 921 in a celebratory move to “reschedule ‘Black Friday.’”

Having weathered other market crashes, Salcido projects: “I expect where we are at to possibly get a little worse before it gets better … Like all market bottoms, smart money is watching for the turn, that doesn’t happen usually quickly. It wouldn’t surprise me if the bottom is finally in February.”

Bloomberg Reports: Bitcoin Miner Consolidation Increases Risk of More Crypto Mayhem

One of the consequences of the recent rout in Bitcoin is well underway. And it’s likely to have a profound effect on the leading cryptocurrency.
— Olga Kharif, Bloomberg

With 100,000+ individual miners, and an estimated 1.4M servers, shutting down, the market is experiencing significant consolidation. Malachi Salcido remarks, “We are entering in the phase when there’s a flushing out of the market … There will be relatively few operations that come out the other side.”

Read the full article to find out what this could mean – the good and the bad – for those who continue to trade in Bitcoin.

Fidelity Launches Institutional Platform For Bitcoin And Ethereum

Michael del Castillo with Forbes reported this morning that “Fidelity Investments is spinning off a stand alone company dedicated exclusively to bringing cryptocurrencies to institutional investors.”

Called Fidelity Digital Assets, the limited liability corporation based in Boston will provide enterprise-grade custody solutions, a cryptocurrency trading execution platform and institutional advising services 24 hours a day, seven days a week designed to align with blockchain’s always-on trading cycle.
— Michael del Castillo, Forbes

Amid speculation over this year’s bitcoin price drop, this development marks a long-term, future-focused commitment to the value and potential of cryptocurrency and blockchain technology. Institutional demand is growing for digital assets, and Fidelity Digital Assets will serve the demand through secure, compliant means. “Our long term vision is really that you’ll see lots of assets exist in this new medium,” said Fidelity Digital Assets’ founding head Tom Jessop. “And this new medium will bring a host of benefits around efficiency, around access, around automation, which is very exciting for financial services.”

Read the full article on Forbes for more details.

‘We Welcome Anonymous Cryptocurrencies’ : US Federal Reserve Breaks Down Bitcoin in New Study

CCN reported yesterday on the Federal Reserve Bank of St. Louis's study results, presented in "The Case for Central Bank Electronic Money and the Non-case for Central Bank Cryptocurrencies."

In this report, the authors "characterize various currencies according to their control structure, focusing on cryptocurrencies such as Bitcoin and government-issued fiat money."

The diagram they present really helps to understand the dimensions of currency: physical or virtual representation, centralized or decentralized handling, and competitive or monopolized creation. This shows how bitcoin is different from existing currencies.

Each form of money has its benefits and drawbacks. This is why many forms of money coexist.

On the one hand, governments can be bad actors and, on the other hand, some citizens can be bad actors. The former justifies an anonymous currency to protect citizens from bad governments, while the later calls for transparency of all payments. The reality is in between, and for that reason we welcome anonymous cryptocurrencies but also disagree with the view that the government should provide one.
— Berentsen & Schar

We highly recommend this informing article and its associated report.

Wenatchee Valley College annual foundation awards to be announced at gala May 19

Wenatchee Valley College annual Foundation Awards nominate Malachi Salcido as "Distinguished Alumni."

Malachi has successfully launched and is running a number of companies, including the Salcido Connection and Salcido Enterprises. The Salcido Connection is the recognized regional leader in designing and installing reliable, efficient building systems. … Salcido Enterprises is the national leader in blockchain technology development and is at the forefront on an international level. The work of this company is revolutionizing technology, how business operates, and is poised to have a positive impact on a global level.
— Wenatchee Valley College Foundation

The materials also praise Malachi for “giving back” and for encouraging the growth of his employees. 

The official awards will be announced at the Wenatchee Valley College Foundation Gala on May 19.