In one of our most recent articles, we talked about the fake email that was sent due to a breach of Coinbase’s email servers. A few hours ago, we received additional information regarding this breach which not only targeted Coinbase but also companies such as Uber, Spotify and Foursquare. However, Coinbase was their intended target, as Bitcoin are becoming high-value targets for individuals with malicious intents.
Venturing into the world as a bitcoin owner is a brave move, as there is no guarantee as to whether or not you will gain additional customers in doing so. James Morris & Bob Sayers, owners of Oxford’s Jimbob’s Baguettes, took the plunge in April 2014. But how are they faring a year after they first started to accept Bitcoin payments?
One of the main concerns for a business owner is the number of Bitcoin transactions you will be actively processing in the future. While it is cheap to start accepting Bitcoin payments at any time, you have to wonder whether or not there will be an added benefit to doing so, but, most of all, will you attract new customers or will existing customers switch to this alternative payment method?
More and more people from all aspects of life are starting to see the value of Bitcoin not only as a technology, but also as a currency. As a result of this increase in Bitcoin awareness, more and more small shops and organisations are starting to accept Bitcoin payments. In the state of Washington, we now have the very first doctor accepting Bitcoin payments.
Bitcoin Popularity Increase
The term Bitcoin is being associated with a lot of things these days, ranging from illegal activity and terrorism to charities and money remittance. But when we finally have the ability to use this beloved digital currency for everyday tasks such as grocery shopping or, in this case, paying for the visit to the doctor, the story changes dramatically.
One of the things most people will come to appreciate is when they can start buying event tickets in Bitcoin. I’m not talking about just Bitcoin events either, but what if there was a festival you wanted to attend and pay in bitcoin? It would be so much easier to pay your ticket directly in BTC compared to cashing it out to fiat currency first, right?
Bitcoin in the United Kingdom is a bit of an odd creature. Although the government is not openly against the digital currency, they don’t condone it, either. The banks are openly against Bitcoin, continually thwarting any attempt of establish banking relations with a Bitcoin-related company, whether based out of or operated in the UK itself.
In a recent interview between Overstock.com’s Judd Bagley and our friends over at Digital Currency Council, some interesting bits of information were revealed. It looks like Overstock.com want to offer discounts to people purchasing goods in Bitcoin but, without the proper education and training, that will not happen anytime soon.
Overstock.com & Bitcoin
When Overstock.com announced they would start accepting Bitcoin last year, there was so much excitement and buzz surrounding our beloved digital currency. Many people saw this announcement as a “vote of confidence” to take Bitcoin adoption and awareness to higher levels; something we have all been craving for so badly.
Phishing emails are nothing new in the world of Bitcoin and can usually be identified with relative ease. In the case of Coinbase, however, their outgoing email server got hacked and someone managed to send an email originating from an actual Coinbase email address. This just goes to show that every aspect of your business – Bitcoin-related or not – is important, even something as mundane as email servers.
Changetip is one of those unique Bitcoin services everyone learns to love over time. Even though the platform offers a ton of functionality and integration out of the box, that moment when you send or receive your first Bitcoin tip is truly amazing. But what about user privacy, a matter near and dear to all our hearts?
ChangeTip’s Privacy Options
Bitcoin offers a certain level of anonymity and user privacy, a trait many of us enjoy on a regular basis. By being so different compared to more traditional media, Bitcoin has all the right tools to disrupt the current financial infrastructure. But it goes beyond so much more than that, as tipping content creators in Bitcoin is not only beneficial to the tipper, but also the person receiving the love.
One of the questions that arise when it comes to Bitcoin is whether or not it can be used to launder money. According to mainstream media, Bitcoin is regularly associated with money laundering practices, pyramid schemes, and even terrorism. But can you actually use Bitcoin to launder cash by using a Bitcoin ATM?
The Short Answer: No
Let’s be brutally honest for a moment here: you can sue fiat currency to buy Bitcoin at any Bitcoin ATM, up to a certain limit. However, this limit is so low that it becomes unattractive to try even and launder cash through one of these ATM’s, as you will run into verification procedures sooner or later. And who wants to visit at least twenty or thirty ATM’s in rapid succession to launder less than US$20,000?
Many Bitcoin enthusiasts around the world will have heard of FIDOR Bank by now, one of Europe’s leading banks as far as digital currency is concerned. In fact, FIDOR Bank recently partnered with Bitcoin.de – a leading European Bitcoin exchange – to offer instantaneous buying and selling of bitcoins. But FIDOR Bank’s expansion to the United Kingdom is not going as smoothly as they would like.
The UK Payment System Infrastructure – Nearly Impossible to Tackle
In order for FIDOR Bank to expand to the United Kingdom, they will need to gain access to the current UK payment system infrastructure. Unfortunately for Bitcoin enthusiasts, the UK is not keen on anything that has to do with Bitcoin or other digital currencies, and it looks like that stance will not be changing anytime soon.
Stories regarding Bitcoin-related ransomware keep making headlines all across the globe these days. Mainstream media like to criticise Bitcoin for its alleged affiliation with computer hacking, illegal products, and pyramid schemes, all the while fiat currency is being used for those exact purposes for decennia. Now that national police forces are being confronted with the Cryptolocker ransomware, it is time to put things a bit more into perspective.