Bitcoin News Weekly
Episode 22

Dollars to Bitcoins, Banks hate Bitcoin, the Gold Bubble and Daniel Peled of GetGems.

Chris Hayes published on
  • Coinbase now allows users to deposit dollars for instant Bitcoin purchases
  • Traditional banks step up closure of accounts related to Bitcoin businesses
  • Is gold really just a 6000 year old bubble 'like Bitcoin' as Citigroup is now saying?
  • Special guest Daniel Peled (@MrPeled) cofounder and ceo of
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  • Oliver Redd

    I have some questions to do:
    Are these companies decentralised? Why they use bitcoin name? if they sell tokens that are not related to them.
    Why do we have to give our social media account details to them?

    Last if it is not decentralized then it is not even bitcoin, and "offchains" are the way one individual have all the power something that bitcoin wanted to solve in the beginning. That is it. We will see another delicious hacking target like mtgox once these applications start to have lots and lots money users.

    Thanks mates!


    - The gems currency is powered by Counterparty. Every GEMS user automatically gets his own wallet, protected by the passphrase chosen on registration. The social network username is an alias to the gems address, making sending & receiving gems and bitcoins between users as easy as possible. More about Counterparty:

    - You don't have to give your social media account details.

    - Gems are settled offline through the Gems internal hosted wallet. This is a hybrid semi centralized database system meant for smaller balances and to allow for speed, security and zero transaction fees. Gems are able to be withdrawn to any external counterparty wallet which is processed using our secure counterparty gateway server.

    -We are putting a lot of time and effort in order to be able to flag fraudulent activity, you can read more here:;topicseen#msg9427852