Songcoin Wants To Be Music’s Alternative Currency(billboard.com)
billboard.com
Songcoin Wants To Be Music’s Alternative Currency
http://www.billboard.com/biz/articles/news/digital-and-mobile/5915780/songcoin-wants-to-be-musics-alternative-currency
http://www.billboard.com/biz/articles/news/digital-and-mobile/5915780/songcoin-wants-to-be-musics-alternative-currency
"So is Mt. Gox the new version of Friendster, the early social networking leader that buckled just before Facebook surged ahead?
Bitcoin’s next generation of founders is cleaner, more pedigreed and suited to Wall Street’s and Capitol Hill’s tastes. They are no less libertarian or wolf-like.
Unlike the Bitcoin’s first generation of entrepreneurs, they are not outsiders. They are the establishment. Circle CEO Jeremy Allaire has taken a company public. His company, along with Coinbase and Bitpay, are backed by the Valley’s most prominent venture firms including Accel, Andreessen Horowitz and Founders Fund. Barry Silbert, a high-profile Bitcoin angel investor who built SecondMarket into a formidable marketplace for shares in privately-held and pre-IPO companies, is preparing his own Bitcoin exchange for launch. Even Mt. Gox’s original creator Jed McCaleb, who sold the site to Karpeles and Gay-Bouchery years ago, is starting what appears to be a new exchange.
U.S.-based regulators, who have been surprisingly favorable toward Bitcoin over the last year, are bound to ask more questions in the coming weeks. We may see companies operating without money transmitter licenses facing more scrutiny. That’s a good thing.
“In the short term, it has an impact on trust and on the counter parties,” said Micky Malka of Ribbit Capital, which is backing Coinbase and BTCJam. ”[But] you are seeing the system maturing – where the rookies and the players that were never transparent or had issues with the regulators are being taken out of the system.”
Now that some rot has been cut out of Bitcoin’s core, it’s time for the second wave of founders to step up.""
Link to article above: http://techcrunch.com/2014/02/25/mt-gox-demise/