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No payment system is safe from hackers these days, as all of these services are high-profile targets for people with less than honourable intentions. However, though there is a positive side to hacking, as well – in terms of finding and patching vulnerabilities – but the recent LoopPay breach is particularly worrying for anyone who has ever used Samsung Pay.
Make sure to read: Startup Ravelin Wants to Fight Online Fraud – Bitcoin a Viable Alternative for Retailers
One of the things people criticise Bitcoin for is how they have a difficult time understanding the underlying technology and how the digital currency ecosystem works. But these same people fail to realise they have been using different types of technology for years, all the while not even fully understanding how it works. Twitter is a prime example of doing so.
Make sure to read: ABN Amro’s Arjan van Os: “Bitcoin is Ancient History To Us”
One of the heavy topics of debate, which has been going on for years now, is whether or not Bitcoin is ready for mainstream consumption. Despite the increase in venture capitalist funds in both 2014 and 2015, the overall performance of this disruptive virtual currency has been rather lackluster. Or that is what the everyday consumer seems to think, even though that vision is not shared by everyone.
When people are talking about Bitcoin, the country of Georgia does not immediately come to mind. Which is rather strange, as Georgia is working hard to become a favourable location for Bitcoin companies, as well as other international technology players. BitFury Group recently installed a brand new data center in the country, which has been attracting quite a bit of interest from all over the world.
Bitcoin is in an awkward state in Australia. In the beginning, the country seemed to be quite open-minded to the idea of virtual currencies, and let things slide without any intervention. Later on, it was decided that Bitcoin would not only be taxable, but subject to additional taxation on top of the normal rate to boot. If that wasn’t enough, major Australian banks are no longer working with Bitcoin companies either.
Argentina is one of those underbanked nations in the world, where local residents are looking for ways to move funds in and out of the country in a convenient manner. Unfortunately for those people, the Argentinian government has enforced very strict capital controls, all but eliminating the option to move funds outside of the country. Bitcoin offers major potential in this regard and Argentina is warming up to virtual currency.
Unisend (Argentina) is a well-respected company in Argentina, as this is the country’s first order-book exchange. There are not that many Bitcoin exchanges in Argentina to begin with, despite there being an increasing demand for options to buy and sell Bitcoin by local residents.
Operating a Bitcoin exchange in the United States has become a bit of a hassle lately, as various states are in the process of creating a regulatory framework for virtual currencies. As a result of this impending regulation, Bitcoin exchange operators will have to apply for specific money transmitter licenses, which are not cheap. But anything is possible, as the Laissez Faire exchange platform has demonstrated.
Over the past few months, there has been a shakeup of Bitcoin exchanges willing to pursue specific operating licenses. Ever since the BitLicense regulatory framework was announced, multiple exchange platforms have halted their services in the New York state area, whereas a handful of others are pursuing their licensing requirements.
With so many services accepting Bitcoin payments, spending virtual currency for everyday needs is becoming incredibly easy. But not every service is accepting Bitcoin for the right reasons, as some companies charge outrageous fees for accepting the virtual currency. This is strange, as Bitcoin payments are inherently cheaper compared to traditional payment methods.
More and more platforms and services around the world are embracing Bitcoin payments; as not only are Bitcoin transactions instant, but they also invoke lower transaction fees compared to traditional payments. Furthermore, Bitcoin payments work identically all around the world, allowing service providers to increase their global customer base by quite a margin.
Bitcoin is often touted as the virtual currency that will disrupt the financial ecosystem as we all know it. While there may be some merit to that statement, the evolutionary change to virtual currencies will not happen for quite some time. Until that time, there will be more and more options for enthusiasts to spend Bitcoin and make an additional income on the side.
Various merchants have jumped on board the Bitcoin bandwagon in the past few years, which at first, led to great success in terms of sales. However, it seems like Bitcoin purchases are becoming less and less frequent in numerous cases. Even gift card platform Gyft has seen a decline in Bitcoin revenue and a surprising uptrend in credit card transaction volume.
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.
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?
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.
Buying Bitcoin has become increasingly easier in the past few years, with so many exchange platforms and Bitcoin ATMs popping up all over the world. That being said, buying Bitcoin remains one of the most difficult hurdles to overcome for novice users. Plus, verification procedures are not making matters any easier.
Before you can start buying Bitcoin, there are a handful of things you will need. First of all, you will need to install a Bitcoin client, either on your computer or mobile device. The installation procedures are very straightforward and self-explanatory. Once you have a Bitcoin client installed on your preferred device, a new wallet address will be generated on your behalf. This address is of great importance, as this is where your future Bitcoins will be sent to.
Many financial entities around the world are keeping a close eye on Bitcoin, and more specifically, blockchain technology. There is a simple reason for that, as blockchain technology offers a much more convenient and far cheaper infrastructure than most companies are using right now. Yet that doesn’t make blockchain technology accessible to the everyday consumer just yet.
It will come as no surprise to find out there are quite a few blockchain-related companies who are trying to cater to both technology enthusiasts, and investors looking for the “next big thing”. In the case of Blockchain Technologies Corporation, this company acts as an early-stage investor, incubator and seed accelerator program.
A few weeks ago, Bitcoin wallet provider and exchange platform, Coinbase, announced it would host their second annual Bithack event. The main objective of such an event is to bring in teams of developers who can come up with innovative uses of blockchain technology. And the winners of BitHack V2 are all working on some very interesting projects to keep an eye out for in the near future.
Whenever a bank makes a positive statement on any aspect of Bitcoin, the digital currency community is both excited and worried at the same time. Most of the community want banks to adopt the Bitcoin technology for their financial services, even though that might bring even stiffer competition to the monetary aspect of Bitcoin itself.
In Spain, most of the banks are warming up to the idea of Bitcoin and its underlying technology. As we have seen from initiatives such as Chip Chap, it is possible to use major bank ATM’s to convert Bitcoin to fiat currency, even if you are not a customer of that financial institution.
When federal agents brought down the Silk Road platform, many people in the Bitcoin space hoped that using this disruptive digital currency for drug trafficking would slowly come to an end. Unfortunately, it turns out that is not the case; online drugs sales are still on the rise and pseudonymous and anonymous payment, such as Bitcoin, are still very popular in that market.
Silk Road will always remain a bit of a black page in the Bitcoin history books. While the idea of an open and free peer-to-peer marketplace sounds great, there is always someone trying to use it for nefarious activities. Or, in the case of Silk Road, it became mainly used for illegal activities such as drug trafficking and other goods and services that shouldn’t see the light of day.
When it comes to using Bitcoin, many people see it as taking a “leap of faith”. Everyday consumers are now blindly putting their faith and trust in banks and financial institutions, even though these entities have already proven – multiple times – they can not be trusted. But who is trusting Bitcoin more than fiat currency, which is still backed by “something” or “someone” tangible?
One of the major misconceptions people have about Bitcoin is that it is “magic internet money”. In fact, more and more people see Bitcoin as “free money” since additional coins are still being generated as we speak. And while that is true to a certain extent, there is no such thing as “generating free money” unless you’re a central bank.
When it comes to creating the best mobile Bitcoin wallet, it totally depends on the people using your application. Not everyone is looking for the same kind of features, yet we all want a simple and clean interface. Most mobile Bitcoin wallets manage to achieve that, and some of them pack a few different things under the hood as well. With that in mind, let’s see what Coinone Bitcoin Wallet brings to the table!
A new version of the Blackcoin Android wallet has been released just a few days ago. While the BC Android wallet is not available on the official Google Play Store, the APK file can be downloaded from the creator’s website. There is also a separate dowloadable APK file in order to get the Blackcoin blockchain installed on your device. Let’s take a quick look.
