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How eBay Could Rescue Bitcoin From the Feds

"There’s another operation that runs both a marketplace where Bitcoins are bought and sold and a fully compliant money-transmitting business that, observers say, could rescue Bitcoin from its biggest problem. That company is eBay, and the money transmitter is its well-known subsidiary, PayPal. Last week, the company posted a Bitcoin explainer to one of its blogs, and it recently added a new 'Virtual Currencies' section to its online marketplace, not too far down the page from 'Hobo Nickels.' Hours after we asked eBay about it, the section was removed, and when we asked Ramirez to explain why, she said she’d look into it and then stopped answering our messages." Continue reading →

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If You’re Still Unimpressed With Bitcoin Wait Until You See This ATM

"Where Bitcoin likely feels intractable for some, RoboCoin brings it into the physical world. Suddenly we're dealing with Bitcoin right in front of us in terms that we understand – it's just like any ATM you've used a thousand times before. It builds a bridge between digital and physical currency. The first RoboCoin kiosk will open later this year in Vancouver and will spread quickly thereafter, according to the plan. CEO Jordan Kelley tells us there's already plenty of interest. Check out the video below to see what a sample transaction looks like." Continue reading →

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Slovenia Liquidates, Backstops Two Banks to Stave Off Cyprus Fate

"Slovenia liquidated two of its smaller banks, Probanka d.d. and Factor Banka d.d., in a move described by Central Bank Governor Bostjan Jazbec as a preemptive action to avoid the fate of Cyprus. The cost of liquidation of Probanka and Factor Banka will be borne first by owners, followed by holders of subordinated debt, Finance Minister Uros Cufer said at the joint press conference with Jazbec yesterday. Even so, Slovenia will issue state guarantees of 490 million euros for Probanka and 540 million euros for Factor Banka 'that will ensure an unhindered liquidity and normal fulfillment of obligations of both banks to ordinary creditors,' Banka Slovenije said in an e-mailed statement." Continue reading →

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Vancouver to see first Bitcoin ATMs installed

"According to The Canadian Press, Vancouver-based Bitcoiniacs is one of the first to pre-order five US$20,000 RoboCoin Bitcoin ATMs. The ATMs work by asking the user for a Bitcoin wallet identifier, usually in the form of a QR barcode. Money is then deposited into the machine, and after deducting a nominal transaction fee, the wallet is credited in Bitcoin. Bitcoiniacs' brick-and-mortar shop already deals with cash to Bitcoin transfers, but so far requires appointments to be booked to conduct such transactions. RoboCoin is competing directly with New Hampshire entrepreneurs Zach Harvey and Matt Whitlock, who are already accepting pre-orders for their own $5,000 Bitcoin ATM." Continue reading →

Continue ReadingVancouver to see first Bitcoin ATMs installed

Vancouver to see first Bitcoin ATMs installed

"According to The Canadian Press, Vancouver-based Bitcoiniacs is one of the first to pre-order five US$20,000 RoboCoin Bitcoin ATMs. The ATMs work by asking the user for a Bitcoin wallet identifier, usually in the form of a QR barcode. Money is then deposited into the machine, and after deducting a nominal transaction fee, the wallet is credited in Bitcoin. Bitcoiniacs' brick-and-mortar shop already deals with cash to Bitcoin transfers, but so far requires appointments to be booked to conduct such transactions. RoboCoin is competing directly with New Hampshire entrepreneurs Zach Harvey and Matt Whitlock, who are already accepting pre-orders for their own $5,000 Bitcoin ATM." Continue reading →

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Hopeless Savers: 0.26% on Money Markets

"The plight of savers in America is hopeless. We know that price inflation is over 2% per year. What do investors get in a money market fund? A pathetic 0.26%. Then they pay income taxes on this 0.26%. What if they do not want to tie up their money for a year? Then they get 0.12%. Before taxes. What about interest-bearing checking accounts in an FDIC-insured bank? These pay 0.05%. Let’s be honest. Let’s round it off (after taxes) to zero. The saver is falling behind. The rate of price inflation is eating into the saver’s net worth by at least 2.9% per year. How much money is deposited in money market accounts. About $2.6 trillion. This is up by $2.6 billion this week. This is a recovery?" Continue reading →

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Bitcoin and Politics: What Could Go Wrong?

"Bitcoin, the alternative sort-of currency whose most ardent fans congregate in that part of the Venn diagram where 'tech' and 'libertarian' overlap, has always had a political flip-side. Other political organizations have already worked the Bitcoin vein, including candidates in North Dakota and Vermont. Darryl Perry, a libertarian candidate for president in 2016, sent an open letter to the FEC in April informing the commission that his campaign would 'not be accepting donations in currencies recognized by the federal legal tender laws.' Instead, Perry will 'only accept bitcoin, litecoin and precious metals.'" Continue reading →

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Bitcoin Exchange Berlin Is Bringing Digital Currency to Market

"While there was beer, it was less of a bar environment and more of a full-fledged street market. There was stuff perched up on crates, other products in a shopping cart. The DJ spun reggae records that kept the vibe chill and quiet. Business cards were exchanged, while others had their contact info on stamps to save paper. What makes this Berlin series different than the open air exchanges in New York, for example, is that people were actually buying and selling products, on top of the typical bitcoin exchange. Also, there were girls. And it was arty." Continue reading →

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Making Rent With Bitcoins and Rentalutions

"Rentalutions, a Chicago based company is bringing the relationship between landlords and tenants into the digital age. Established April of 2012 in Chicago by Ryan Coon, Laurence Jankelow, and Dylan Lingelbach, Rentalutions aims to streamline the traditionally old school rent payment process. The service, which ranges from $5 to $150 a month, allows landlords to view credit reports and background checks, collect rent online, and to create and sign leases. As for tenants, they are able to make online rent payments and request maintenance services. The twist? Rentalutions is the first of its kind to enable tenants to pay their rent in bitcoins." Continue reading →

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Bitcoin entrepreneur Voorhees doubles down in Panama City

"Erik Voorhees, the man who founded Bitcoin casino SatoshiDice for 45 Bitcoin and sold it a year later for $11.5 million worth of the currency is doubling down on the industry. Although Voorhees isn’t publicizing how much of the 126,315 Bitcoins he personally earned, he is investing them in startups tied to the virtual currency rather than cashing in the coins. At the moment, Voorhees is in Panama City running his new company, Coinapult, launched in April 2012, that lets users send Bitcoin via email or SMS. 'We moved down here because our target market is the developing nations, and the unbanked population (which is massive),' he wrote." Continue reading →

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