It has become adamantly clear, over the past few weeks, that the Bitcoin Foundation does not have the Bitcoin development’s best interests at heart. This is not such a bad thing, as the Bitcoin Foundation should not determine in which way Bitcoin Core development is headed. In fact, it has come to a point where the Bitcoin Foundation is completely distancing themselves from Bitcoin’s developmental plans.
Using Bitcoin is not a complicated process, yet the number of use cases for most everyday consumers is still relatively low. Once people can start paying their bills in Bitcoin, adoption will certainly thrive. Such a service is already made possible in the EU by companies like BitBill and Bitwala, but not worldwide. Until that day, why not use Bitcoin pay for sending a fax anywhere in the world?
Bitcoin can do a ton of good in various aspects of life. One of the key areas we should focus more efforts on is helping those in need during a time of disaster. With so many charitable organizations already accepting Bitcoin payments, that shouldn’t be too hard to accomplish. And, with the help of ChangeTip, it becomes even more convenient to support those in need, with Bitcoin.
Disaster Strikes Nepal
Most of our readers will have heard by now that Nepal was been struck by a massive earthquake yesterday morning. With a magnitude of 7.8 on the Richter Scale, there is no question, such an event could not go by without tragedy. Unfortunately, over 1,800 people [according to the latest numbers from CNN] have died in this tragic event.
In the world of Bitcoin, there are so many interesting and innovative ideas and projects going on that will never cease to amaze you. While there is a lot of focus on the monetary aspect of Bitcoin; exchange prices, volatility and so forth, as well as on the technology side; blockchain, sidechains, assets, you could almost forget that there are other things that matter too, like the Bitcoin Bus for example.
Bitcoin ATM manufacturers are finding themselves in a bit of an awkward position these days. With a few hundred BTM’s deployed all around the world, none of them seem to be bringing in enough revenue in order to create a sustainable business model for the operators. The manufacturers, themselves, have to adapt their business models as well, in that regard. Lamassu, the leading Bitcoin ATM manufacturer, plans to introduce monthly subscriptions in the near future.
Australia is an interesting country when it comes to Bitcoin, as it is one of the very few countries in the world with regulation about digital current in place. Even though the regulation itself leaves much to be desired, that isn’t stopping new Bitcoin startups from trying to gain a foothold in the Australian market. DWV is a new Australian Bitcoin exchange, so, let’s see what they bring to the table.
It is time to resume our guides on how to earn your first [piece of a] Bitcoin, by talking about something that may pique the interest of many of our readers. While this guide is not focusing on people who have never held a [piece of a] Bitcoin before, it still opens up a lot of opportunities to make a solid profit over time.
Investing in Physical Goods
One of the major advantages of Bitcoin’s popularity comes in the form of special physical items, themed after this popular digital currency, ranging from shorts and polo’s, to paintings, to physical coins [for cold storage and other purposes], and knives to stickers. It is hard to find something that can not be bought with Bitcoin these days.
In the world of Bitcoin, there are a lot of innovations underway and many more to come over the next few years. At the same time, we struggle with some of the most simple concepts, such as making it easier for people to remember their Bitcoin wallet address. An alias feature would be a welcome solution and Netki is working on exactly that.
Netki: A Long History in the World of Technology
Whilst most of our readers have probably never heard of Netki (which is not unusual, don’t worry) the people running this company have a long standing history in the world of technology. Netki’s founders entered the industry of technology in the 1990’s, when they helped build core internet infrastructure, back in the day.
Bitcoin security remains a matter that is near and dear to all of our hearts. Given the recent string of Bitcoin-related platforms being attacked or hacked – with or without the loss of users’ funds – we need to step up our game. A new partnership between BitGo and TradeBlock is working towards a secure and seamless Bitcoin trading infrastructure.
BitGo: Taking Bitcoin Security To New Levels
With such a disruptive technology as Bitcoin on our hands the possibilities are endless, which also brings a security risk to the table, as we do not understand all aspects of this technology just yet. And it has been proven time and time again that the “standard” security measures are not sufficient to protect Bitcoin wealth, by any means.
Bitcoin ATM’s have been in a state of flux as of late, not because they are no longer popular or profitable, but simply because of unclear or impending regulations for the machine operators. As a result, less and less Bitcoin ATM’s are being sold on a monthly basis, and manufacturers have to start looking at alternative ways to earn revenue. Robocoin now lets you send money overseas, which is an interesting additional to Bitcoin ATM’s worldwide.
The Bitcoin Foundation seems to be getting back on track after the recent months have been filled with scandals and even being on the brink of bankruptcy. But, with a new person in charge, it looks like the focus is shifting back to where it should have been all along; promoting Bitcoin and its blockchain technology. The first step in doing so comes in the form of joining the MIT Digital Currency Initiative.
With so many different options when it comes to earning Bitcoin, instead of having to buy them, the possibilities are nearly endless. One of the most sought after services is a reliable escrow service, which will mostly be used on the BitcoinTalk forums. But how do you offer your escrow services to an audience that knows nothing about you?
Step 1: Building up Reputation
First and foremost, you cannot offer an escrow service if you are a brand new BitcoinTalk member. Not only will that be frowned upon, but you will receive negative feedback from other users just because you try and run a business without building up a reputation. People have become very wary of offers on the internet, and rightfully so, for the most part.
In order to make Bitcoin more accessible for everyday people around the world, we need more local Bitcoin exchange platforms. Especially when it comes to countries that could benefit the most from digital currency, on continents such as South America and Africa, Bitcoin could have a major impact on people’s lives. SurBTC is a new South American Bitcoin exchange that has received funding from the Chilean government.
South America & Bitcoin
Let’s be honest here for a minute, Bitcoin is struggling to gain more adoption in the Western world because we have so many payment options at our disposal. Merchants will just go with whichever option is most convenient and can bring in the most customers, regardless of the fees attached to that payment method.
Governments around the world are focusing their attention on Bitcoin and digital currency in terms of regulation and potentially charging taxes. In Europe, the playing field is a bit divided, with a few countries declaring Bitcoin exempt from VAT, while others are still unsure what to do, and several countries ignoring the matter altogether for the time being. But in Spain, we finally have a verdict: Bitcoin is exempt from VAT.
In the previous guide on how to earn Bitcoin, we touched upon the subject of trading digital currency for profits. Even though this is a very risky strategy, Bitcoin is not the only cryptocurrency you can trade on a daily basis in order to increase your BTC stash. Trading altcoins is a good way to make lots of money in a short timespan, but it’s also far riskier compared to Bitcoin trading.
One of the more interesting financial news stories over the past few weeks has been the acceptance of Bitcoin payments by popular online payment service NETELLER. This change has been made possible thanks to the partnership between NETELLER and BitPay, the world’s leading Bitcoin payment processor and we now also have the very first Bitcoin merchant to partner with NETELLER, in the form of Coinimal.
NETELLER Accepts Bitcoin
It came as a big surprise to the Bitcoin community when news broke that NETELLER was suddenly accepting Bitcoin as a deposit method. Considering the terrible year Bitcoin has had in terms of media headlines, it was due time for some positive news. NETELLER provides us with exactly that, as they are one of the largest online payment processing companies in the world.
The Midas Rezerv team have launched a decentralized distributed 100% physical gold-backed token platform designed to enhance investments, trading, capital preservation, and payments in physical gold represented by its digital equivalent. The gold holdings are stored in non-bank, fully-insured vaults located in Free Trade Zones with a permanent proof of holdings available for public access online and via the blockchain.
One of the demographics where Bitcoin could make an impact is in the 16-23 year old bracket. The current generation of young adults and students have grown up in an era of little to no cash payments, multiple economic crises and technology evolving at such a rapid pace it has become nearly impossible to keep track of. But a lot of them also know about Bitcoin and digital currency, which could make for a very interesting mix.
When we start combining new and disruptive technology with an existing and outdated financial infrastructure, there is a chance to create something great. The implementation of that opportunity decides whether your product or service stands or falls and, in the case of E-Coin’s Bitcoin debit card, they have done a tremendous job.
Bitcoin Debit Card
Bringing together debit cards, a widely accepted traditional form of payment both in the online and offline space, and Bitcoin, a new breed of hybrid digital currency debit card comes to life. In the world of Bitcoin, these cards are known as Bitcoin debit cards, because that is exactly what they are: a debit card sent to you by a company that lets you fund this card with Bitcoin.
A recent study conducted by the leading Bitcoin payment processor BitPay shows that Bitcoin is slowly transitioning from a commodity into an everyday currency. As more and more merchants start accepting digital currency payments, either online or offline, there will be more cases, which in turn gives Bitcoin awareness – and hopefully adoption as well – a boost.
The results of this study may surprise you in multiple ways. Even though we have all been advocating that Bitcoin is a far superior payment method compared to traditional means such as credit and debit cards, as well as bank transfers or Paypal, there has been no official sign of merchants being swayed by this argument. But once they see the results provided by BitPay, they may very well change their minds.