Recapping the week’s biggest Bitcoins stories from around the web:
Overstock.com Invest $ 4 million in Caribbean Bitcoin Startup
Earlier this year, Bitt, a bitcoin startup from Barbados, announced its plans to use the bitcoin blockchain for issuing fiat digital currency for the Caribbean Islands. The firm already launched the Barbadian dollar as an asset on the blockchain, using the coloured coins protocol.
This week, Reuters reported the startup has sealed an additional $4 million funding round from US giant online Overstock.com. The funds will go into expanding the prototype, Central Bank digitized Barbadian dollar, to the rest of the Caribbean Islands.
“Bitt has a vision for the Caribbean of frictionless mobile cash, beginning with central banks transparently issuing digital fiat which is then exchanged on a blockchain.”
Zooko, CEO of Zero Cash warns Bitcoin Community of Overconfidence
Bitcoin, was the first successful take off of peer to peer electronic cash to scale. But, some veteran cypherpunks, like Zooko and Ian Grigg, after having seen it all, are warning the community to rein in their confidence according to Coinjournal.
“we cannot just rest assured that Bitcoin’s unique value [proposition] outweighs all other considerations. I recognize that mistake. I’ve worked on so many things (