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Bitcoin News

Bitcoin and Crypto Currency News

Browse latest bitcoin news about new businesses that accepts bitcoin and other cryptocurrencies, blockchain technology, and regulations of bitcoin. We report on latest crypto currency news, prices, talks and new start up related to bitcoin and other crypto currency.




  • China Tests National Digital Currency; How it Could Cripple Bitcoin’s Future - Part Duex

    ​Last week, in Part One of this article, I went over how this recent national digital currency test by China, just eleven months after they spoke of creating their own national digital currency, can spell doom for true innovations, like Bitcoin. Why would nations like China want to actually compete with innovative, open-source, appreciate assets like Bitcoin when they can control their entire market and capture their citizens through regulation?

    Ok, so it wasn’t the most uplifting article I’ve ever written, but I’m just keeping it “one-hundred.” Life in the Bitcoin community is certainly not all lollipops and rainbows. However, today I did promise that there is another side to this coin that would turn that frown upside-down. So let’s look at some ways where this turn of events could work towards Bitcoin’s advantage in the years to come.

    First, one of the main advantages is this transition by nation-states towards digital currencies greases the skids for people to more easily go from fiat currency to digital currencies. Right now, it is not as easy as it could be, and when nations get behind the digital currency revolution, this will create new avenues for funding of apps, businesses, and networks that will make the transition much more seamless and convenient.

    Once going digital becomes convenient, it will be quickly accepted by the masses. Once the masses accept the concept of fully digital currencies, like Bitcoin, we would then be in a version of Hayek's free market monetary system. Bitcoin would gain acceptance by the mainstream just by economic osmosis. There will be wallets and apps that will allow you to trade and exchange digital Chinese Yuan for BTC and ETH, and the credence in the digital realm provided by The State adopting it will reflect well on the original Bitcoin concept.

    The proletariat will see the national currency, but just out of curiosity, Bitcoin and its altcoin friends will get some attention, and a competitive market will establish itself, and Bitcoin will show its superiority, at that point.

    Also, as cash becomes more and more of an endangered, outlawed species, people will have to put these unwanted bills into something. The recent demonetization in India has shown that people will put those bills into Bitcoin when faced with a digital currency future, and that is a wise move. So if you don’t trust your government’s central planning designs on your economic future, you can always find a home in the original, decentralized digital currency, and grow your wealth for years to come, instead of investing in a depreciating national asset class.

    Keep in mind that Bitcoin has gone through whatever growing pains it has had over the last eight years, which have been more a matter of perception rather than reality-based. Bitcoin and its blockchain technology have worked incredibly well, for a brand new, grassroots global currency controlled by no one in particular. Do you really think that China, or any nation, will handle their national economy as deftly? When there are problems, do you think that people will not use Bitcoin as a shelter for their economic welfare?

    This has been done time and time again over the last four years since the banking “bail-in” in Cyrus back in April of 2013. Bitcoin has proven to the market, several times, masses, investing in Bitcoin is not only a wise investment but a safe one. So when the PBOC and its underlings make a critical misstep, Bitcoin will be the one who benefits, from a quick tap on the citizen’s smartphones. Jaxx smartphone wallets and others that haven’t been created yet will be there to swap any digital currency for another, all within one multi-currency wallet app.

    Let’s say China successfully creates some sort of online firewall ban against Bitcoin. They are successfully limiting Internet use, so let’s assume they can limit Bitcoin use, as well. This will only move miners, users and businesses out of China and into other markets that would be more open to changes like larger block sizes, Segregated Witness and The Lightning Network. So the back-end of Bitcoin’s protocol can also see some upgrades from any regulatory issues in China.

    Finally, what happens when, not if China goes through their “Great Depression” they are in line for? You don’t think China is going digital currency because they see prosperous economic times ahead, do you? Chinese investors know this market is heading for the squat toilet, and so does the PBOC and the Chinese government. The question is who will be ready to handle the fall?

    If the government and banks cut off the mainstream market from protecting themselves, this will just create a larger, more varied and smarter Bitcoin black market. With 1.4 Billion people, that’s one hell of a market to try and stop. The end of the year Bitcoin closeout and New Year’s buyers rush will turn into a tsunami, getting bigger, year after year, so expect Bitcoin values to increase at an almost geometric rate, just based on the folly that is this impending crash in China.

    China can only control over one billion people’s economic future’s so much. Even their totalitarian regime has limits in what they can do to stop people from protecting their economic future from their missteps and malfeasance.

    Either Bitcoin will adapt, spread overseas, or go underground in that region. China’s folly may make India the next great Bitcoin trading post, the way things are going. India seems very receptive to the Bitcoin concept and may be less equipped to slow its mainstream adoption.

    If Bitcoin has proven anything over the years, it has proven that it can’t be wished into the cornfields by a government or anybody else. The only real question is who is sharp enough to pick up Bitcoin and run with it. Who will figure out how to embrace this growing avalanche of economic empowerment and monetize it? Bitcoin is not a problem that needs to be solved. It’s just another Internet that needs to be grown. And grow it will.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • China Tests National Digital Currency; How it Could Cripple Bitcoin’s Future-Part 1

    While the nations of the world are busy trying to regulate, tax, and dismiss the revolutionary innovation that the digital currency Bitcoin has provided the world, they’re also plotting and scheming. The world’s largest nations, banks, and corporations are using Bitcoin and its blockchain technology as a blueprint to raise their business models to the next level. This could mean disastrous things for Bitcoin, in the future, under one scenario.

    One way this could go down

    You may have heard the news yesterday that China successfully tested their own version of Bitcoin, pursuant to their own national digital currency, last month. Here are more details if you need an update on where this stands. I have known about China’s plans for a national digital currency since last January, when they announced it on their website, and had a meeting with Citibank and Deloitte about creating it. I have written about this before at BitConnect.

    China almost needs a national digital currency, post haste, and here’s why. Simply, investors, speculators, and businesses are moving their money out of China, as their economy exits their boom market. The PBOC (People’s Bank of China, their national central bank) and the government are seeing great “capital flight,” and do not like it, and want it to stop. Many are using Bitcoin to execute these financial moves, as well because it is a superior, flexible form of money when it comes to speed and mobility, globally, plus it appreciates in value.

    So China has fast-tracked this national currency project and said they would at that meeting one year ago. The United States, Australia, Canada, the United Kingdom and many other nations have either discussed this future changeover. It is only a matter of when, not if, this happens in most major countries, so this is not just about China. Here’s why.

    The world will go digital currency for the same reason China puts their system in, first. Control. With a closed-network, central-bank controlled digital currency, it can solve a lot of problems the nation has created and the nation perceives as problems, going forward. It won’t be 10% of the digital currency value that Bitcoin is today, but it would be a great panacea for all of the state-managed ills. Here are just a few.

    You can make as much currency as you want, limiting the effects of inflation. A digital currency doesn’t cost anything to print. It will need some cybersecurity, which nations and banks are struggling to handle, as we speak, but it will be much less expensive than safes and vaults and security teams and guns. Plus, you can monitor all transactions and people can’t leave your closed network with the national funds. Basically, The People rent out the national currency, and The State reserves the right to change the locks on you, for any reason, at any time.

    This is the main reason. Every dollar, or Yen, or Yuan, is yours, and The People really have no money. The government and bank can co=opt the entire system, and decide who has money, who doesn’t, where they can use it, and produce mass surveillance over all transactions, in perpetuity.

    This is a great system for control. Great system for surveillance. Every transaction you ever do, in this dystopian future, will be monitored, recorded, analyzed, and stored on a server that will either be monitored by The State, or hacked by a cybercriminal, Either way, you lose.

    Unless……you work outside of their box and use a superior digital currency alternative, like Bitcoin. Which creates a problem for Bitcoin and its users.

    Will you become an Enemy of the State?

    This kind of makes you an enemy of the state, by default. The State can turn around and criminalize Bitcoin, or any altcoin that is not provided by The State, once they have their national closed-network system in place. They can attack exchanges, and make Bitcoin so hard to exchange and buy, through the laws they create and the regulations they levy, that Bitcoin could be rendered an outlaw.

    Think cigarettes versus marijuana. Marijuana is really a superior cigarette. It has actual medicinal benefits, and has for hundreds of years, unlike cigarettes, which has just killed hundreds of thousands of people over the years and has never helped anyone. Like Bitcoin, 100 years ago or so, marijuana was seen as a cure-all for the ills of the day.

    Before there were aspirin and penicillin, people used cannabis to resolve aches and pains and maladies, before it was criminalized, in Western culture anyway. I’m sure that corporations like the Bayers and Phillip Morris of the time had nothing to do with this.

    The problem for marijuana was it was not sanctioned by The State, it is not taxed effectively by The State, and it is not produced by the fascist corporations of The State, so if you are seen using or selling marijuana, in certain countries, you may be in a lot of trouble with The State. No one was able to fight to protect a plant from being branded a criminal.

    So why not take this market from the plant, even legalize a small amount of the plants use in your newly-approved corporate drug to make the new drug nice and addictive, and go forward with a backdoor deal, a kickback, and some new regs to prevent competition. Everybody is happy, except for the black kid in Michigan who gets 20 years for violating a “Rockefeller Law”

    Marijuana 2.0

    Bitcoin may end up becoming the marijuana of the 21st century. First, all of these states may make it a little tougher to use, via regulation, year after year. Make taxes for it nice and difficult, or nice and high, or both. Then, begin to slowly phase in criminalizing it, while copying its technology, making your own version, without 90% of the benefits. Your new national digital currency will have one thing Bitcoin may not have, in comparison. Convenience.

    You can pay your taxes by smartphone. The store up the street will accept the national digital currency, but The State’s regulations on anything else will be so extensive, Bitcoin will not be widely accepted. People will use Bitcoin just like they use marijuana, in the shadows, behind closed doors, and with a dark cloud over their head, as they fight a silent battle against The State’s monopoly on transmitting value.

    Call me a conspiracy theorist. I hope this dystopia does not come to fruition, but my charge is to consider all of the possible outcomes, report them to the greater Bitcoin community, and maybe have a discussion on how to protect Bitcoin’s future. Bitcoin can’t be beaten by a hacker or even a “51% attack.” The State has the best chance of defeating Bitcoin by making a Bitcoin-lite that helps the banks and the government, and makes the common man’s life just that little bit easier, but regulates Bitcoin into the cornfields and dark alleys of the world.

    That card is on the table, and probably will always be on the table. Let’s at least recognize it and work together to plan a way to avoid that card being turned over.

    As good as marijuana may be, the world really doesn’t use it, at scale, because its just not worth the hastle. Bitcoin is on that road. The road to regulatory ruin.

    Part 2 is coming Monday, showing you how Bitcoin can actually live happily ever after

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Will Work For Bitcoin - Bitwage Releases Full-Scale Bitcoin Job Board

    ​​There are plenty of people reading this article who are “in between jobs” right now. Or maybe you need a little extra income and would love to get your hands on an appreciating digital asset like Bitcoin right about now. Don’t fret, little camper! Bitwage has got your ticket to ride Bitcoin “to the moon” with their new and Beta-free Job Board.

    Earning Bitcoin has never been easier

    People tend to think that in order to own Bitcoin your options are limited to buying it like you would any commodity like gold or silver. Bitcoin is much more versatile than that, and I am living proof of that. I have been working for Bitcoin, living on Bitcoin for three years, so getting a job that pays you in Bitcoin can be done much easier than you'd think.

    Bitwage has decided to make the work-for-Bitcoin concept as convenient and easy as going to Craigslist to look for a job. After months of beta-testing, the full suite of Bitwage job tools is now available in three distinct profiles.

    There is no need for there to be middlemen locking you into the relationship between you and your clients,” Bitwage CEO Jonathan Chester told BitConnect. We want to enable the remote workforce to have all the tools they need to find clients, show that they have a strong reputation through verifiable means, and receive their wages faster and cheaper from any client they want without being required to use all three.

    The three profiles work as follows: Bitwage Jobs searches the internet to find jobs that fit all skill sets. We look through every nook and cranny there is to find the jobs that no one else is picking up. By clicking “Fit my profile”, we tailor the job opportunities exactly to you.

    Bitwage Workers is a listing service that helps you get found by allowing clients to search for you directly. No middleman, we simply facilitate the connection. We make money when and if you get paid via bitwage.com. Otherwise, profile creation is all free.

    Bitwage ME premium gives your account priority on the worker list, removes fees for receiving money in local currency and allows payments through bitwage.com to act as a verified resume and reputation system. Remember, companies want to know you have a good reputation with previous clients and there is no better way to show this than with your proof of employment.

    “It's quite easy to post a job, just sign up, create a job and pay a small fee and you'll have a job that is featured,” Chester added. Unlike other job boards, with a featured job, you'll be able to leverage other aspects of our payments service, such as our vetting services for workers who apply as well as being able to see the payment reputation of workers signed up for Bitwage ME.

    With over 250 new Bitcoin jobs listed daily, and with a referral program that can get you Xapo Bitcoin debit cards to use, Bitwage is looking to make your job search in 2017 very rewarding, indeed.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Bitcoin Exchanges See Massive Drop in Trade Volume After New Fees

    ​The Bitcoin business world has been controlled by the Chinese market over the last three years, but there is a caveat. The massive volumes put forth by Bitcoin exchanges, BTCC, Huobi and OkCoin have not exactly been on the up-and-up. No-fee trading policies have inflated numbers dramatically, and national financial regulators have come in to begin a more legitimate system. The results have been significant in recent days.

    High-speed, automated traders have made Chinese exchanges their method of choice due to the lack of any real cost to manipulate these systems. The trading volume is done mostly to lower the costs of withdrawing funds, but when over 90% of the world’s trades are happening in just three exchanges, someone has to police the system that wasn’t doing a good job of policing itself.

    Now that the regulators in China and the exchange's top executives have gotten together and made some working revisions that include trading fees, the trading volumes are now vastly different than they were just a week or two ago.

    “One-hour volume at OkCoin fell 89 percent to 1,026 bitcoins at 1 p.m. local time, from 10,062 during the same period on Monday, according to the venue’s website,” says Gary Gao of Bloomberg Business. “Huobi and BTC China saw declines of 92 percent and 82 percent respectively. Prices were little changed, at around 6,350 yuan per bitcoin.”

    These changes can do a lot of good for the greater Bitcoin community. This may lead to less drastic price swings and less volatility. Investors overseas may see the industry as less centralized and move more capital into the market, now that the volumes are not so manipulated or concentrated. Also, fewer speculators and a better cross-section of actual users will be represented by the volumes.

    Overplaying China’s trade volume leads to the wrong conclusion that bitcoin’s value is purely derived from its role as a speculative plaything for Chinese investors, says Neil Woodfine, COO of Remitsy, and a local Bitcoin businessman in Beijing. It leads people to make the mistake that there is (an) existential risk to bitcoin in the Chinese government’s treatment of bitcoin trading or just Chinese traders whimsy.

    These changes may be having an effect on Bitcoin’s price, as Bitcoin fell 2-3% on Tuesday, heading back under $900 USD as of this writing. After a massive bubble to start the year, Bitcoin is down about 6% so far in 2017.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Pyramid Scheme MMM Moving to Bitcoin For Security Reasons

    ​If you are an online criminal, a shady operator, it must be getting more and more difficult to capitalize on your crimes. Many nations are beginning to regulate Bitcoin exchanges as the rule of law is beginning to accept that a new form of money has been created. This seems to have influenced the online scam known as MMM, who has started 2017 moving their operations to Bitcoin’s digital currency, according to sources.

    The MMM Ponzi scheme, which stands for Mavrodi Mundial Moneybox is a monetary scheme that dates back to 1989 and was create in Russia by Sergei Mavrodi. It has been admitted to be a pyramid scheme by Mavrodi, who has served years in a Russian penal colony for his crimes in Russia. Versions of this financial scam have been seen in India, Great Britain, and South Africa. Over the last few months, it has popped up in Nigeria and is growing.

    It has grown enough that the Central Bank of Nigeria has had to issue a warning against using Bitcoin, which is being promoted as the investment vehicle for MMM in Nigeria.

    The reason CBN came out loud and clear was when MMM was about to burst they were now offering high interest rates for people who will go digital, according to the Managing Director of the Nigeria Inter Bank Settlement System Ade Shonubi.

    The problem is this is creating a public relations nightmare for Bitcoin, which is caught in the legal crossfire for its capability to be used for good, or such illegal purposes. It is a very odd vehicle to use, given it is traded on a public blockchain. Many criminals using Bitcoin this way have been caught by investigators in Western society, but it may have started to flourish in Nigeria in order to take advantage of the lack of tech savvy in this market by users and law enforcement alike, as Shonubi explosives in his commentary on the situation.

    “Once you buy cryptocurrency, you cannot trace where it is going. It was a means to take money out in case CBN wants to start looking at who is taking the naira. They are offering people more interest and once people change from naira to cryptocurrency, you cannot find those guys. You can’t trace them."

    These issues can have long-term ramifications for Bitcoin acceptance in Nigeria, as this is many people’s first exposure to the currency, and this scam will fall apart, eventually. People may end up associating Bitcoin with crime or a scam, and this will give ammunition forthe cnetral bank to denigrate or ban Bitcoin use in the future. Looks like a bad mix of digital currency ignorance and leverage from the cnetral bank may spell dark days in Nigeria’s Bitcoin future.

    MMM may have been debunked and decoded in other nations, but it looks like it has a brand new bag in Africa, where digital currency is new and online communications on MMM history seem to be non-existent. Until law enforcement catches up with the methods successfully used elsewhere to stop MMM, it will be a long year of negative press for Bitcoin in Nigeria.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Bitcoin Exchanges in China Change Trading Rules After Regulator Visit

    ​he world of Bitcoin is a new, exciting, and largely unregulated place. This has its pros and cons, but the recent bubble bursting earlier this month caused quite a stir in China, where the lion’s share of the world’s Bitcoin trading takes place. The issues uncovered were enough to draw regulators into the top three Bitcoin exchanges in the world, and this, in turn, has driven these exchanges to alter they way they will do their Bitcoin business transactions in 2017.

    The end of a Golden Era in Bitcoin Trading

    In China, these massive exchanges have made their volumes explode due to their no-fee trading policies. This has attracted new business and has forced a fierce competition for that no-fee business. This has also led to inflated volume trading numbers, as many of these trade made were account owners trading to themselves to drive down their withdrawal fees, the way the exchanges actually earn an income in this business model.

    "(Since there are no transactional fees,) Chinese exchanges generate most of their revenue from CNY withdrawal fees,” said Neil Woodfine, Chief Operating Officer of Remitsy earlier this month. “And these CNY withdrawal fees are tiered based on each trader’s trade volume, encouraging traders to trade as much as possible to lower the cost of withdrawing their profits".

    Problem was that the sheer number of trades attempting to take place when Bitcoin was dropping fast prevented many from accessing their funds and protecting their digital wealth. We reported that some changes were likely to come after this calamity, and some consumer complaints, some discussions with regulators and some internal meetings generated the following policy changes. These will take effect in all three major Chinese exchanges, BTCC, Huobi, and OKCoin, starting tomorrow. Here’s the message on OKCoin’s News page.

    In order to curb speculation and prevent price volatility, currency OKCoin line will take effect January 24, 2017, 12:00 start charging transaction fees, specific adjustments are as follows: 1. Transaction fees according to a fixed proportion collect, sell the yuan, to buy or collect bitcoin, litecoin; 2. active and passive auction turnover rates; 3. service fee charged by a fixed rate of 0.2% of turnover.

    A similar message can be seen on the other exchange’s blogs, news pages, or Twitter feeds. This should reveal the true trading volume of each, and rebalance the market, somewhat. Interestingly, the London’s Coinfloor announced this weekend that they are going to a no-fee trading strategy, effective immediately, obviously to fill this market void and attract a new level of volume from traders around the world.

    So no shortage of major changes in major markets, with Donald Trump getting inaugurated on Friday, Chinese exchanges and their regulators changing their trading practices and Coinfloor looking to become a global force. The news may have influenced the buying market, as Bitcoin values rose about 3% over the weekend.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Davos Economic Forum Report - The Annual Bitcoin-bashing Recap

    ​​Every January in Switzerland, the world’s leading corporate thinkers arrive to pat themselves on the back for how smart they are at lying to the people and manipulating the market with a total disregard for business ethics. This year’s edition was no exception, and we provide you the latest Bitcoin news from of the World Economic Forum that ends today. 

    The World Economic Forum, since 1971, has engaged the foremost political, business and other leaders of society to shape global, regional and industry agendas. One of the hottest topics in global economics is Bitcoin’s blockchain technology, which has been adopted by many of these in attendance because it is clearly superior to anything they have provided over the course of their careers. To hear them tell it, Bitcoin was an unfortunate side-effect of the technology.

    "To be efficient, the currency has to be a stable store of value. That is something that Bitcoin does not have," Cecilia Skingsley, the deputy governor of the Swedish National Bank explained." We have a strong product to offer from the central bank. If people don't like it, and they don't trust the state, they can use other methods. Use black cats, or cupcakes, that's up to you. We provide the state option, which is safe, efficient and widely distributed, with a stable store of value".

    A central banker will never tell you that the value of their currency over time is designed to lose money every year, in perpetuity, due to inflation and other market factors. Somehow, their fiat currency, that they consistently print into oblivion, is better than an asset class that rose in value 126% last year, 35% the year before, and can be sent in seconds for a dime. Imagine what else they aren’t telling you?

    Another myth is spun by Ant Financial CEO Eric Jing, who said. "The essence of blockchain is not about decentralization, but trust.” A properly made blockchain creates a decentralized network that doesn’t require a central authority to trust, thereby distributing trust in its decentralized network that can’t be corrupted, instead of one authority that can. The fact that these mainstream conpanies are generating value out of blockchain technology without its best capability, the ability to decentralize a network at scale, really just shows how outdated and behind the curve they are at this point.

    "Blockchain distributes trust among a group of people who have to work together, and who don't necessarily trust each other," said David Craig, president of finance and risk at Thomson Reuters. "They have to collectively agree to a standard of how they federate trust. The financial industry hasn't traditionally been good at collaboration, and this offers a way of changing.”

    Blockchain technology will improve various businesses in becoming more efficient in the years to come. However, its mainstream appeal will always date back to an origin of market disruption and monetary improvement, that Bitcoin provided the world.

    If Bitcoin didn’t work, at scale, the mainstream would not have adopted blockchain technology, fintech, or any related creations. The executives at Davos might be able to monetize Bitcoin’s technology, without using its greatest creation, but they cannot co-opt Bitcoin’s value to the future of money.

    Stroking blockchain, while denigrating Bitcoin, reminds me of an old Nike commercial. Spike Lee, playing a character known as Mars Blackmon in a 1989 Michael Jordan Nike commercial, kept saying Jordan could jump so high not because of anything inherently special about Jordan.

    “It’s gotta be the shoes!”

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • Mercedes Acquires European Bitcoin Payment Provider PayCash

    Gaining acceptance on a mainstream level for Bitcoin is going to take time, and most likely will not magically appear with one or two landmark deals between industry mega powers. It may just be a gradual process over time, like beach erosion.

    Many major corporations are accepting blockchain technology outright, and Bitcoin may enter soon after. Mercedes’ Daimler Financial Services Corp. made a backdoor foray into the world of decentralized digital currencies with their announced acquisition of Paycash Europe SA this week.

    Paycash has been around since 2012 with the Luxembourg company providing digital payment solutions that include PayPal, Skrill, Amazon payments, Alipay and Bitcoin real-time. This will be almost immediately rebranded as ' Mercedes Pay’ by the company, allowing smartphone mobile payments to their clientele.

     

    “Our philosophy is to provide mobility at your fingertips,” said Klaus Entenmann, Chairman of the Board of Management of Daimler Financial Services AG. “‘Mercedes pay’ allows our customers to easily and securely pay for our mobility offerings and services using their smartphones. “Mercedes pay” will mainly benefit customers who, in the future, will only need to provide their payment details one time, in order to be able to use a range of Daimler’s services. This is made possible by the eWallet function, a virtual source of payment.”

    Daimler has made no specific mention of a Bitcoin payment future for MercedesBenz automobile owners, but obviously, this is a step in that direction. It may become just a matter of making a phone call or updating a server before this is a reality in the not too distant future.

    Paycash says they can process payments in all major fiat currencies, giving Daimler incredible flexibility. Daimler has also stated that it “plans to use the new payment system to facilitate these and other financing transactions in the future.”

    The automotive industry has been slow to accept alternative methods of payments, with even older companies like PayPal still on the outside of automotive financing, looking in. The demographics and growth potential of Bitcoin’s user base may force the issue in the years to come. Plus, getting paid in an asset that clears in minutes, setting up your brand as ‘cutting edge’, and appreciates over time may be appealing to many OEM financing companies in the years to come.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • BitConnect Connects With Bitcoin Startup Cashaa - Can They Disrupt LocalBitcoins?

    ​​New and innovative services are popping up all the time in the digital currency space and today marks the launch of Cashaa, a new blockchain-based p2p marketplace. Cashaa markets themselves as a new service enabling zero-fee cash transfers. Based out of London by Kumar Gaurav, Cashaa does not charge the cash sender and receiver any fees, Cashaa does not require them to have a bank account or mobile wallet and transactions are conducted at a real-time exchange rate.

    BitConnect sat down with Mr. Guarev to get the details on just how disruptive this new service can be.

    What spurred you to create this service? What is the true genesis of Cashaa?/How did you get started in Bitcoin or digital currency services?

             

    "During my management studies, I traveled and met a lot of interesting people worldwide, and also had to use Western Union. I was wondering why companies would charge so much for something as simple as exchanging money. Losing 10-12% of the money was annoying, and so was the thought that there are people who with honest work make less money than Western Union, which does not create anything itself, but only exploits its customers."

    “In the same time in 2014, I met cryptocurrency traders and got involved in Bitcoin and blockchain. Bringing this together with my experiences, the idea for Cashaa was born. I decided to focus on the cash transfer market, as it is less serviced than bank-to-bank transfers, and people are paying these crazy fees plus exchange rate fees, and technology had not helped in this situation yet. Therefore, I started Cashaa.”

    This sounds a lot like LocalBitcoins.com concept, except the goal is to send money overseas, not with the goal of buying and selling BTC. Is that fair that they are similar in design? Can you perform these trades online, or only in person?

    Unlike LocalBitcoins, we are marketplace matching cash senders with any cryptocurrency traders. It can disrupt LocalBitcoins and cash exchanges at the same time. Now traders can find a trade without the physical presence of their counterpart in the same location. We are opening a global market for the crypto-traders and using the liquidity from cash remittance industry to connect the local bitcoiners in different countries.

    Until now, we have seen that bitcoin or cryptocurrency is being utilized by a very limited section of society with a sole purpose of speculation. But now, with Cashaa, people can send money to their friends and family without any cost without involving in bitcoin and leaving it to the traders who are speculating it on LocalBitcoins or an exchange. Even more, than this, it will help to educate more people outside of the crypto- currency industry by giving them a use case which is touching their day-to-day life.

    Cashaa works as follows: The cash sender sends a request, including how much money they want to have delivered, in which city, and which currency, to whom and in which time. We send a notification to all traders in the sender and the receiver`s city, who then can make their bid to pick up and deliver cash for selling and buying cryptocurrency. Once a match is found, the money sender and receiver are each meeting the individual trader in person, in a public place, in their city. Our current product is for cash in and cashes out.

    “We wanted to serve the most unserved section of the society, which is Western Union customers sending money that are still paying the very high fee. Cashaa is for them, and in future versions, our users will able to send and receive money through bank accounts, credit cards, as many other payment options.”

    So if there are really no fees on trades, how does Cashaa make money?

    “Whereas Cashaa is not charging the cash sender and receiver, we are making money through the traders. Traders through us get an increase in market size and a higher profit margin, compared to their local market. We don't charge any fixed fee like LocalBitcoins or exchanges. Our traders are free to choose their bid and ask price depending on their local market, and we keep anything left between them.”

    I understand this does not support altcoins, currently. Can you explain how that will be implemented in the future?

    The decision to come up with the only bitcoin was due to our test results and market size. In April 2016, for testing purposes, we launched a trading platform called Btc2Bid, which was Bitcoin-only. During testing, we had more than 10,000 traders sign up from 126 countries, who transferred about $2 million USD without us even having to spend anything on marketing.

    Cashaa will first be launched using this network of Bitcoin traders, but we are cryptocurrency/token-agnostic. We are building an internal InterLedger. So, for example, the trader on one side can be a Bitcoin trader, and the trader on the other side can be an altcoin trade. Therefore, we invite traders of any cryptocurrency to join us.

    The year is now 2020. Where is Bitcoin in the world of finance and where is Cashaa in the world of Bitcoin?

    “In 2020, Bitcoin will break all the rumor and negativity made around it and will establish itself into consumer space. Many killer Apps will launch which will help to deliver the advantage of Bitcoin and Blockchain to average consumers. As an asset Bitcoin has proven many times that it rise more sharply when political and economic issues have grown, which I think will bring more institutional investors into the domain to balance their portfolio. “

    Cashaa is one of the service builds on bitcoins and cryptocurrency connect the average and advanced consumers. Cashaa aim will be to develop a decentralized escrow system, exchange and serve as many as countries we can to build a win-win ecosystem for everyone.

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

  • European Union Seeks to Fast-Track Bitcoin-bashing Regulations

    The crumbling dystopia that has become the globalist precursor know as the European Union has many problems. Many nations, if not most nations, are suffering from what seems to be an orchestrated destabilization of un-vetted immigration, leading to rampant crime waves that include, robbery, assault, and rape. One might characterize this alone as a mass exercise of terrorism. This pressing issue of rampant crime seems to be exploding, but the E.U. wants to get this problem with Bitcoin solved before the end of 2017.

    Maybe you haven’t heard…..

    The European Parliament has recently published “The Juncker Commission’s ten priorities” for 2017. These are ten issues that they see as most important to address in 2017 for the member states, and Bitcoin made this list. It seems Bitcoin has been labeled as a funding source for terrorism. Strike that.

    They obviously cannot say that Bitcoin is a funding source for terrorism, but they say “risks linked to” terrorism, in effect proving that this initiative is more of a witch hunt and power grab than an actual solution to a real problem. Here is their quote in their new report, which can be seen here

    Under subheading “Priority 7: An area of justice and fundamental rights based on mutual trust,”it states within the subsection “Fighting terrorism:”

    In July 2016, the European Commission proposed targeted amendments to the 2015 Fourth Anti-Money Laundering Directive. The issues addressed include safeguards for financial flows from high-risk third countries, EU financial intelligence units’ powers, centralized national bank and payment account registers, and risks linked to virtual currencies and anonymous pre-paid cards.

    The report does have plenty of hyperlinks leading to more European Union missives and directives. Bitcoin falls under the “Fourth Money Laundering Directive,” which refers to Bitcoin as “electronic money,” leads to more interesting quotes. Let’s look at the E.U’s views on people having Euros of any quantity, and how they’ll limit that ability.

    The use of large cash payments is highly vulnerable to money laundering and terrorist financing. In order to increase vigilance and mitigate the risks posed by such cash payments, persons trading in goods should be covered by this Directive to the extent that they make or receive cash payments of EUR 10,000 or more.

    Under Article 12 of the Directive, the regulation specifies if you have more than 250 Euros, you are to be subject to full “due diligence” disclosure, explained thusly:

    “….a Member State may allow obliged entities not to apply certain customer due diligence measures with respect to electronic money", where all of the following risk-mitigating conditions are met:

    (a) the payment instrument is not reloadable, or has a maximum monthly payment transactions limit of EUR 250 which can be used only in that Member State;

    (b) the maximum amount stored electronically does not exceed EUR 250;

    (c) the payment instrument is used exclusively to purchase goods or services;

    (d) the payment instrument cannot be funded with anonymous electronic money;

    In other words, expect to be subject to any and all kinds of attacks on your freedoms and dealings if you have more than 250 Euros worth of BTC linked to you if you are European Union property, that is. If you are packing this much dangerous electronic heat, you could be accused of anything, from tax evasion, to terrorism funding, to money laundering, or anything else the globalist state wants to attach to you.

    No wonder why the United Kingdom voted themselves out of this unelected mess, while the somewhat free people of Italy and France are angling to move on to better things later this year in upcoming referendums and elections. Globalism is losing to nationalism, and this may be just the beginning.

    Keep in mind the United Kingdom, France, and Italy make up three of the top four economies within the European Union, not including Germany, who has maintained the majority of the control of its governance and power, so they are not going anywhere. Yet, if another major force within departs, the E.U. should collapse in full by the end of the decade, IMO.

    The chances that both disengage is good enough where some E.U. leaders are considering preventing future referendums to keep Member States captive in this political failure. A former member of The Communist Party, Slovak Prime Minister Robert Fico, stated that the EU was struggling with various problems and he begged the 27 other EU members not to allow any more referendums, saying ”The people could not be allowed to decide their own future."

    Author : Evander Smart

    Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University