Bitcoin and other major cryptocurrency markets remain stable, as Bitnet secures Series A funding.(IBTimes UK) <\/p>\n
The price of bitcoin has remained relatively stable over the past 24 hours, shifting by less than 1% in value since yesterday. <\/p>\n
Most other major cryptocurrencies have followed in bitcoin's lead, with litecoin, dogecoin and peercoin all moving by between 0% and 2%. <\/p>\n
The biggest mover across all digital currency markets is uro, the \"hybrid commodity token\" that pegs its value to the fertilizer urea. Uro's price jumped by 45% to take its market capitalisation up above $1.5 million for the first time since July. <\/p>\n
The co-founder of PayPal, Peter Thiel has said that despite bitcoin being founded on the same set of ideas as PayPal, the two have developed in very different directions. <\/p>\n
\"Bitcoin is the opposite of PayPal, in the sense that it actually succeeded in creating a currency,\" Thiel said in a talk at the Booth School of Business in Illinois. <\/p>\n
\"However, its payment system is lacking, and it is often used to make illegal transactions, such as to buy heroin. Until bitcoin is used to make more legal transactions, I am a bit sceptical.\" <\/p>\n
Thiel has previously described bitcoin as \"badly lacking\", saying in a Reddit AMA (ask me anything) last month that he would become \"more bullish\" on bitcoin when the payment volume of bitcoin significantly increases. <\/p>\n
Bitnet secures $14.5m Series A funding <\/p>\n
Bitcoin payments processor Bitnet has raised $14.5m in a Series A funding round that it hopes will go some way to enticing major merchants into using its payments software. <\/p>\n
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