The Bitcoin situation in Tokyo could very well shape the future of virtual currencies in Japan. Two weeks ago, the Tokyo District Court judged that Bitcoin are not subject to ownership. With the Mt. Gox investigation looming overhead, plenty of affected users were hoping to see a different outcome so they could recoup some of their losses. However, there are some vital points to be made regarding this judgement.
Bitcoin regulation and more specifically the BitLicense debacle, will be making headlines for many more weeks to come. As the BitLicense application deadline is almost upon us, companies are forced to either apply or halt their services in the state of New York. Several companies have decided on the latter option as very few BitLicense applications are coming in. That being said, it looks like Coinbase, just like Bitstamp, will be applying for a BitLicense.
Every week, there are more opportunities available for customers to spend their Bitcoins in exchange for various goods and services. Not all of those goods and services are considered legal, highlighted during the case brought against Benjamin James Cance, a weapons dealer who enjoyed the pseudonymous benefits of Bitcoin transactions.
The Curious Case Of Benjamin James Cance
Even though Bitcoin has been associated with less-than-legal marketplaces and services in the past, it has been a while since stories like these made media headlines. Enthusiasts of virtual currency are slowly starting to realize that Bitcoin is far from anonymous, making it a less preferable type of payment for illegal goods and services.
More and more Bitcoin companies are looking for ways to expand their capabilities for various services. Integrating Bitcoin into the spending habits of everyday consumers is a key element to push virtual currency adoption to new levels. Bitcoin wallet provider Zebpay introduced a new feature that will let users pay their mobile plans directly from the wallet.
Zebpay – More Than Just A Bitcoin Wallet
One area of product that nearly every Bitcoin user comes in touch with is paying a mobile service bill. Regardless of whether the mobile plan is prepaid or postpaid, being able to pay for it with Bitcoin would be a major step forward for most everyday consumers. Mobile Vikings, a mobile MVNO active in Belgium, The Netherlands and Poland, has been accepting Bitcoin payments directly for quite some time now.
It was only a matter of time until the BitLicense regulation started claiming more victims in the Bitcoin mining industry. Not only are individual miners under the scrutiny of becoming money transmitters, but mining pools and even cloud mining providers could be affected as well. Genesis Mining, one of the very few legitimate cloud mining companies, will no longer accept customers from the New York state area.
Bitcoin is slowly making headway in all kinds of places on this planet and it looks like digital currency is finally gaining a foothold in Japan. Up until now, the only reason Bitcoin has ever been connected to Japan was due to the Mt.Gox exchange, a story most people would rather forget as soon as possible. However, bitFlyer might be the next Bitcoin success story in Japan.
Bitcoin Exchange & Crowdfunding Platform bitFlyer
The Japanese bitFlyer platform provides an interesting combination of various Bitcoin services, neatly packaged into one platform. Not only are buyers and sellers of Bitcoin able to use the platform for trading and exchanging purposes, but bitFlyer also offers its very own crowdfunding platform.
Despite most of the recent Bitcoin news being primarily dominated by BitLicense regulatory woes and tribulations, there is some other news to report as well. Unfortunately, not all of that news is positive, as online Bitcoin wallet provider 37Coins has shut its doors for good. Traditional issues, such as funding and overseas issues, are the alleged causes for this decision.
37Coins: Text Messaging To Transfer Funds Not As Lucrative As Expected
Making a third-party Bitcoin wallet service stand out among all of the other options is not an easy feat these days. Most Bitcoin users will stick to a select circle of preferred applications, whether it is on mobile or on computer. 37Coins had a great solution to tackle this problem head-on though: a hybrid system of text messaging and Bitcoin transfers.
The Bitcoin regulatory measures in the state of New York are causing quite a bit of controversy. Right now, there are more companies halting their service in this part of the world compared to the number of applications for a BitLicense. Even though regulation is necessary, too severe regulation leads to a mass exodus of companies. One of the few major Bitcoin companies completely unaffected by this regulatory measure is Bitcoin wallet provider Airbitz.
It is no secret that Bitcoin and other virtual currencies have been making headway across Latin America in recent months. Most of the countries are plagued by hyperinflationary fiat currencies, as well as tight capital controls in terms of moving funds in and out of the region. Just a few weeks ago, the first ever Bitcoin conference was held in Sao Paulo, Brazil.
Strong Focus On Regulation and Financial Aspect of Virtual Currencies
Bitcoin and other virtual currencies could play a major role of importance in Latin America in the near future, once more people have found out what these currencies are about. To be more precise, there are two major points of interest: how will virtual currencies be regulated, and what does the financial aspect of Bitcoin and consorts entail exactly?
Even though many customers are still struggling with the idea of purchasing Bitcoin from an exchange through bank transfer, there are other solutions available. Not just in the form of using Bitcoin ATMs, which are also a great way to buy Bitcoin. Bitcoin exchange 247Exchange is making the process of buying Bitcoin with a credit card even smoother than it was before.
Making The Bitcoin Buying Process More Consumer-friendly
In our latest article on how to buy Bitcoin, we mentioned that using a credit card is not possible when it comes to Bitcoin from most traditional exchanges. However, there is one emerging exchange that has integrated card payments for buying Bitcoin into their platform. 247Exchange.com is best known for allowing purchases and withdrawals through most major credit cards.
Despite Bitcoin being in a state of flux right now, due to a fairly low Bitcoin price and regulatory requirements scrutinizing startups in the US, some companies are still pushing forward with their expansion plans. HashingSpace Corporation have launched their Bitcoin mining pool – called Hashpool.com – and made the pool’s mobile app available for both Android and iOS users.
HashPool.com – A New Bitcoin Mining Pool With Mobile Tools
In recent weeks, the name HashingSpace Corporation has made headlines on this website multiple times. The company is on an aggressive spree in terms of expanding their offerings in the Bitcoin ecosystem. HashPool will be of interest to Bitcoin miners from all over the world, as the backend will balance the mining load based on a GEO-IP implementation.
Bitcoin can pose a serious disruptive threat to the world of finance as we know it. Wall Street has been carefully eyeing Bitcoin and the underlying blockchain technology for several years now. With so many companies leaving New York due to the BitLicense regulation, the reaction on Wall Street wouldn’t take long. Lo and behold, many Wall Street players are migrating to the Bitcoin ecosystem.
Bitcoin regulation is a topic of heavy debate around the world, especially since the BitLicense requirements were made publicly available. In the United States; every individual state can draft their own Bitcoin regulatory requirements, and it looks like California will be the next place to do so.
Bitcoin Regulation To Harm Innovation?
One of the main concerns surrounding Bitcoin regulation is whether or not local requirements will be beneficial to technological innovation in the digital currency space. There will always be different opinions regarding this matter, and in California, the pending Bitcoin regulation is causing a disruption between several parties.
When Ethereum was finally released to the public, quite a few people had high expectations of this platform and the associated digital currency called “Ether.” However, ever since the launch itself, it became clear that it would take quite a bit of tweaking and prodding to get Ethereum running on most computers. Quite a shame for a project that raised millions of USD in investment capital, yet failed to deliver a user-friendly piece of technology.
BitLicense is the first proper form of Bitcoin regulation in the United States, even though most Bitcoin companies do not agree with the proposed requirements. Whereas several Bitcoin exchanges are leaving the New York state area, Bitstamp has announced they will, in fact, be applying for a BitLicense in order to comply with current regulations.
BitLicense Causes Lots of Controversy
Bitcoin regulation is still an important aspect for digital currency to be recognized as a legitimate form of digital money. Yet at the same type, the first revisions of Bitcoin regulation are quite harsh, especially as far as BitLicense is concerned. Applying for a license is expensive, and there is a thorough process every company has to go through.
Promoting Bitcoin awareness is not an easy task, even though there are various ways to do so. That being said, every now and then, a new product enters the market that gets some people excited while it seems utterly dumb to others. The Bitcoin Ring 2.0 may not win any awards for being fashionable or classy, but you can be certain people will talk about it.
Bitcoin Ring 2.0 – Bitcoin Is Just a Finger Away
Bitcoin promotional tools and efforts have undergone several transformations in recent years. Not only are there Bitcoin T-shirts, hoodies, and hats, but also a plethora of stickers, pins, labels, posters and nearly every traditional item you can imagine. On the other hand, efforts such as the Bitcoin Jet have not gone by unnoticed either.
Bitcoin is causing quite a few headaches for legislators and regulators all over the world. Even though some countries and US states have come up or are close to coming up – with a regulatory framework for Bitcoin, not all of them are positive, especially New York’s BitLicense regulation, which is causing an exodus of Bitcoin companies in the state. The latest company to leave is BitFinex, the largest US Bitcoin exchange platform.
Combining the worlds of digital currency and rewards are a great way to push mainstream adoption in the right direction. HolyTransaction, a powerful platform known for its payment processing capabilities for various digital currencies, will be able to store RibbitRewards points in the very near future. Blockchain-based rewards programs are one step closer to realization.
HolyTransaction and RibbitRewards Team Up
There has never been a more exciting time to be involved with Bitcoin and blockchain technology than right now. Being able to integrate rewards platform RibbitRewards with HolyTransaction’s API and platform is an exciting development for the digital currency community. After all, the one thing digital currency seems to be lacking is rewards for customers who pay in Bitcoin or alternative coins.
Paying bills with Bitcoin is an emerging trend in the world of digital currency in recent months. Having the option to use digital currency to settle monthly bills sounds appealing to quite a few people, as it means they don’t have to spend normal money to do so. Unfortunately, this new trend is also attracting companies who claim to pay your bills for you, but just run off with your bitcoins.
Various retailers have started experimenting with Bitcoin payments in the past two years, including some very prominent names such as NewEgg, Overstock.com and Dell. Not every company is seeing a profit from this experience so far, as the declining Bitcoin price isn’t helping matters much. TigerDirect is one of the very few major retailers who have seen continued growth in terms of Bitcoin payments.
TigerDirect – Bitcoin Enthusiasts Like Their Tech Gadgets
The name TigerDirect is synonymous with electronics and PC hardware, both in the continental US and Canada. Even though this website does not ship orders outside of North America, there are quite a lot of domestic customers who alternate between NewEgg and TigerDirect for their electronics and computer needs.