The world of finance is starting to evolve towards new systems and services being used, as well as the mobile space being explored by various companies. Even though Bitcoin has been available on mobile devices since day one, popular Bitcoin exchange Huobi thinks there is still room for improvement in this area. Rather than sticking to the Chinese crowd, the company hopes to expand the presence in the Western world as well.
Once the mainstream media picked up the news about the arrest of former Mt. Gox CEO Mark Karpeles, it was only a matter of time until the Japanese got involved with Bitcoin more strictly. If there is one thing Mt. Gox has taught us, it is that regulation up to a certain extent is needed, even though a lot of people perceive it as a “necessary evil”.
Mt. Gox Arrest Putting Things To Rest Once and For All
The arrest of former Mt. Gox CEO Mark Karpeles is a godsend for the Bitcoin community and affected users of the Bitcoin exchange’s collapse. After more than a year of fleeing from the policy and impending justice, Mr. Karpeles has finally been arrested and is currently awaiting trial for his past transgressions.
Bitcoin is often referred to by mainstream media as an anonymous digital currency, with a high potential to attract hackers and scammers. However, Bitcoin is not anonymous, nor has it ever been, nor does it need to be. But that doesn’t mean people wouldn’t mind selling their Bitcoins anonymously and withdraw fiat currency from any bank ATM at their disposal.
Coins.co.th Allows Anonymous Cardless ATM Withdrawals
Selling Bitcoin in exchange for fiat currency is a process that has been simplified in recent years. But not every Bitcoin user likes to use a Bitcoin exchange to sell coins, mostly due to the identity verification procedures attached to those platforms. On top of that, Thailand is an underbanked nation, and most Bitcoin exchanges only pay out via wire transfer.
Bitcoin exchanges are the premier solution for the everyday consumer to buy and sell Bitcoin in exchange for fiat currency. However, it seems like most Bitcoin exchanges are flagging accounts who are trading at higher volumes on a monthly basis. Sometimes, these conversations can lead to some very awkward information being asked from the consumer.
Bitstamp – Providing A Copy of Passport or Birth Certificate
Every Bitcoin exchange around the world has to comply with existing legislation and regulations in the region they are operating from. In the case of Bitstamp, the company is compliant with all EU regulations concerning Know-your-Customer and Anti-Money Laundering requirements. After all, Bitcoin exchanges attract quite a lot of money from people looking to buy, sell and trade Bitcoin.
Times are tough for most companies active in the Bitcoin and digital currency space these days, and the low BTC price is not helping matters at all. But it seems like at least one company is slowly turning things around, as Bitcoin Shop, Inc sees another major increase in the price per share. The company is also working on an e-commerce website that will focus on digital currency payments.
For some unknown reason, China has been the biggest Bitcoin marketplace for many years now, despite the People’s Bank of China warning merchants not to deal with digital currency payments, for the time being. Many enthusiasts have always wondered why China remained the biggest Bitcoin trading market, despite there hardly being any use for spending Bitcoin. We now have an answer to that question, as China sees Bitcoin how most other people see it as well: an investment vehicle with tremendous potential for daytrading profits.
Bitcoin has seen its fair share of “less than legitimate” marketplaces in the past, and it looks like more and more Dark Web marketplaces are embracing the digital currency for its pseudonymous nature. Just a few days ago, another Dark Web marketplace was shut down, and 11,000 Bitcoin wallets and private keys have been seized by Italian police officials.
Operation Babylon Cracks Down on Dark Web Marketplace
As soon as the topic comes up, most people will think back to the times when Silk Road and Silk Road 2.0 were around. Both of these illuster marketplaces allowed the trading of any type of goods or services – regardless of legality or morality – in exchange for the increasingly popular digital currency called Bitcoin.
The decentralization revolution is in full effect, and more and more companies are starting to see the benefits of providing such a service. OYO Rooms is an India-based hotel service that wants to decentralize the way customers book hotel rooms around the world. Necessary hotel features, such as Free WiFi and breakfast, are included in every result.
OYO Rooms – Standardizing Budget Hotel Accommodations in India
When someone talks about travelling to India, the topic where they will be staying always comes up at some point during the conversation. After all, India is not exactly known for its luxurious hotels, other than in the major cities. A little known fact is that most of the country’s budget hotel accommodations will provide everything a tourist or traveller needs.
To use Bitcoin properly, an active internet connection is needed. Regardless of whether that connection comes in the form of WiFi or mobile data connectivity, sending and receiving Bitcoins benefits from an internet connection at some point. Facebook is making quite some headway with their solar powered drones project, as these machines will be able to provide internet connectivity by using lasers and radio signals.
Using Drones for Internet Connectivity in Unbanked Regions
Bitcoin could make a major impact in unbanked and underbanked regions of the world. People living there have little to no access to financial services, and Bitcoin could provide them with exactly that. However, in order to do so, Internet connectivity is a must, and that infrastructure is not always present in these areas.
From a financial perspective, Bitcoin can be deemed to be a godsend for people who are not in favor of disclosing any personal information when making payments online. Whereas most people automatically assume Bitcoin users have something to hide, a counterargument can be made for how much privacy consumers have sacrificed in order to enjoy convenient online payments. BitPhone is combining VoIP calling with Bitcoin payments to provide additional layers of user privacy.
It is no secret that Bitcoin and Asia go quite well together, as the disruptive digital currency is favored by Chinese investors. In fact, one could go as far as saying that Asia is dominating the Bitcoin market altogether, even though that will always be a topic of debate. Fintech Mexican startup meXBT has acquired CoinRepublic in order to focus their attention on the Asian market.
One of the best ways to push Bitcoin adoption to new levels is by rewarding users for performing daily tasks. Bing Rewards is the first company to offer Bitcoin as a reward to its users, with a total of US$500 to be won. This is a great way to get Bitcoin into the hands of everyday consumers who are not yet involved in the Bitcoin ecosystem.
Malware threats and ransomware have been plaguing computer users and major networks around the globe over the past twelve years. Most interesting is the fact that, in the case of ransomware infections, a ransom to be paid in Bitcoin was requested. Kaspersky’s recent study shows that financial threats are still on the rise, whereas attacks against mobile banking are on the decline.
Financial Tools A Favourite Target For Trojans and Malware
Even though there has been little to no innovation in the financial sector over the past 50 years, the number of different tools and exploits used to breach services has exploded exponentially. After all, the main goal of exploiting a service’s weakness – either by hacking, installing a trojan or spreading malware – is a monetary gain in some way, shape or form.
Sports betting has been an integral part of gambling around the world. Rather than just relying on offering the most common casino games, casino and gambling website operators had to adapt their business models to accommodate customer demand. Coingaming.io officially unveiled their Bitcoin-only sportsbook solution, just before the start of the English Premiership.
Online Gambling – Sports Betting Over Traditional Games
When it comes to online gambling, people automatically assume it has everything to do with playing popular casino games on the Internet. Offerings such as blackjack, roulette, dice games and even one-armed bandits are not hard to find online, but there is more to online gambling than these average games.
In order to take Bitcoin as a payment method to the next level, a lot of things will have to change and evolve in the coming years. Stripe, one of the few Bitcoin payment processors that are known outside of the digital currency world, has raised more funding and partnered with Visa to take their business further than ever before.
Stripe: Bitcoin, Credit Cards & Money In General
One of the main reasons why Stripe has become so popular has nothing to do with Bitcoin payments, even though that is a nice bonus. Stripe is also a major credit card processor in the United States, and despite their branching out to alternative payments, credit cards remain the company’s bread and butter.
One of the most promising blockchain technology creations comes in the form of smart contracts. Whether or not smart contracts will only work with Bitcoin as a payment method, remains to be seen, but there is a lot of excitement surrounding this technology. In fact, smart contracts could very well replace any type of middleman, including lawyers.
It’s About Bitcoin Technology, Not The Bitcoin Price
Bitcoin news is often dominated by talks and articles about the current Bitcoin price and how that price will carry on (upwards or downwards) for the next week or so. As is the case with a free market situation, there is no necessary trading “logic” to be applied to the Bitcoin price. Good news or bad news does not always have an effect on the price.
Purchasing Bitcoin in a convenient manner all around the world is still one of the major hurdles to overcome for this disruptive digital currency. Pending regulatory decisions across the globe make merchants wary of what Bitcoin can mean for their business in the long term. But a recent partnership between UK-based exchange CoinMate and payment provider MoneyPolo could shake things up quite a bit.
The world of micropayments is not the right place for credit card transactions or Paypal transfers, due to their high transaction fees. In fact, Bitcoin could be the only perfect candidate for microtransactions around the world. To put that statement to the test, WIFI Metropolis has experimented with using Bitcoin payments to get access to public WiFi hotspots.
WIFI Metropolis – Using Bitcoin For WiFi Access
Using Bitcoin as a payment method for WiFi access seems like a no brainer to digital currency enthusiasts, but putting it to practical use is a different matter altogether. As a tourist travelling abroad, getting access to public WiFi is difficult, especially because most countries won’t let a person pay for access because they live in a foreign country. Bitcoin could solve that problem, as this is a borderless payment method.
Blockchain technology can be used to accomplish many goals and as we speak, developers and engineers are only discovering the tip of the iceberg. But that isn’t keeping people from dreaming big about how they could use blockchain technology for their own benefit. One of the candidates for Mayor of London, is looking for a way to put the city’s entire budget on the blockchain.
It is no secret that digital currency payments offer a huge amount of benefits for small and large businesses. Instant transactions, lower to no transaction fees, a global payment method and nearly no additional infrastructure is required to set everything up. Restaurants are a great example of embracing newer technologies, especially if that can help cut overhead costs.
Bitcoin & Restaurants – Do They Mix?
In the Western world, more and more restaurants are gravitating towards a cashless payment ecosystem. Handling large amounts of fiat currency means someone has to take it to the bank every day, an operation usually entrusted to firms such as Brinks-Ziegler. Even though there are ways to get your fiat currency transported safely, they bring additional costs to the table.