Top news and views about Bitcoin and Cryptocurrency for 12 Apr 2017
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Bitcoin Exchange Paybis Adds Credit Card Purchases To Take On UK Market
UK-based cryptocurrency exchange Paybis has added a rare facility for users to purchase Bitcoin with a credit card.
Paybis, which also operates from Latvia and the US, developed the “Bitcoin with Credit Card” feature specifically to allow instant purchase, coins being released as soon as the transaction is processed.
Verified users can purchase up to $5,000 of BTC at once, subject to a $20,000 monthly limit.
While exchanges serving the UK market have traditionally been seen as somewhat poorer value due to banking regulations, charging around £10 for fiat withdrawal or deposit, Paybis looks set to circumvent the issue.
Full story at http://bit.ly/2o5vw0e
FED Board President Does not Understand Bitcoin or the Nature of Trust
The article’s author quotes Harker, saying that digital currencies will not replace banks. Harker said, “Digital currency won’t topple traditional, government-sanctioned money from its central role in the economy in the foreseeable future.”
Harker believes digital currencies will not delegitimize banking and the banking system as it stands. The article emphasized a dollar is a dollar, and people know the dollar will retain its value. Harker believes digital currencies cannot possess the same level of trust as a result of their volatility.
“A fiat currency like that in the United States, which is issued by a central bank in a secure and stable economy, works because we trust it,” explained Harker. “A dollar is a dollar. We all agree that it is and there’s not much that can undermine that faith. We experience inflation, sure, but not often in dramatic or abrupt ways.”
Full story at http://bit.ly/2o5m6BY
Learn The Secrets of Bitcoin Millionaires
New site Bitcoin Millionaire has looked at what is out there in regards to investment advice for crypto-currencies, seen that it is lacking, and endeavored to fill the breach.
With standard currencies, you are expected to take the word of those who have generated their own wealth regarding how they got there. With Bitcoin the blockchain records every single Bitcoin transaction making the evidence freely available to back up claims.
And the site’s founder is prepared to put his own investments up to public scrutiny on his journey with monthly profit reports and view-able Bitcoin wallet.
It’s not just the journey of this one soon to be Bitcoin millionaire but also hints and tips from those that have already made it happen. The site will publish interviews with numerous entrepreneurs who are already profiting from their savvy business endeavors.
Full story at http://bit.ly/2o4VjpG
Media Frenzy in Japan as Bic Camera Starts Accepting Bitcoin
Bitcoin.com recently reported about the partnership between Bitflyer and Bic Camera for two of Bic Camera’s stores in Tokyo to accept Bitcoin payments. Starting on Friday, customers can pay using bitcoin at the Bic Camera store in Yurakucho district, and at Bicqlo Bic Camera store in Shinjuku East. The latter is a hybrid outlet with a giant casual wear designer, manufacturer, and retailer, Uniqlo. Bic Camera executives say more stores could also start accepting bitcoin.
“You can use Bitcoin at most 100,000 yen for one payment. Other payment methods can be used with Bitcoin together,” according to a Bic Camera’s promotional leaflet for Bitcoin payments. Customers can also collect reward points just as they would using cash.
The event has been covered by major Japanese media outlets including Nikkei and Asahi Shimbun newspapers, as well as a large number of media publications worldwide. In addition, Japan’s national public broadcasting organization, NHK, has also aired a segment of the event. Bic Camera executives expect foreign travelers to be among the first to use bitcoin for payments but the number of local Japanese users are also expected “to rise eventually,” NHK reported.
Ken Shishido, one of the organizers of the Bitcoin Tokyo meetup group, describes Bic Camera stores as a “Best Buy type of electronic shop.” At the premier on Friday, Bitflyer CEO Yuzo Kano spoke to the crowd and, according to a tweet by Shishido, he was “surrounded by 28 media crews at Bic Camera.”
Full story at http://bit.ly/2o57XVA
Russia hopes legitimizing Bitcoin will thwart crooks
Russia's existing stance on bitcoin and other digital currencies is... less than welcoming. You could face website bans and prison time just for using it. However, the country is making an about-face on the idea. Deputy Finance Minister Alexey Moiseev tells Bloomberg that Russia hopes to recognize cryptocurrencies in 2018. Officials still have to determine how they will categorize this virtual money (assets? Cash? Securities?) sometime in mid-2017, but it's now more a question of "when" than "if." Of course, this isn't a purely benevolent move -- it's really about cutting back on crime.
Moiseev pitches this as a bid to fight money laundering. If Russia knows who's involved in a transaction (as is the case with regular money), it can thwart attempts to disguise crimes by shuttling money abroad. The country has already had success fighting conventional laundering schemes in the past several years, and this would prevent criminals from shifting to digital formats.
Full story at http://engt.co/2nDBtp9
The first investor in Snapchat thinks bitcoin could realistically be worth $500,000 by 2030
Bitcoin has been the top-performing currency in the world in six of the past seven years, climbing from zero to a value of about $1,190.
But the cryptocurrency isn't anywhere close to its potential, according to Jeremy Liew, the first investor in Snapchat, and Blockchain CEO and cofounder Peter Smith. In a presentation sent to Business Insider, the duo laid out their case for why it's reasonable for bitcoin to explode to $500,000 by 2030.
Full story at http://read.bi/2o56heC
Prepared by @SydesJokes
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