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Cryptocurrency

Bitcoin Keeps Making Inroads With Small Merchants

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Source:https://www.cryptocoinsnews.com
One of bitcoin’s most-often cited challenges is the need for widespread merchant adoption. In examining this issue, bitcoin researchers often note that only a handful of big-name merchants like Tiger Direct accept bitcoin. What often gets less attention is the benefits small merchants are finding with bitcoin; the reason being that smaller merchant adoption is harder to track.

High Violet Salon and Spa in Wisconsin Dells, a tourist city in northern Wisconsin, has embraced bitcoin for the same reasons that many other businesses have – lower transaction fees, ease of use, and the option of cashing out bitcoins for fiat currency at the merchant’s convenience, according to wiscnews.com, the website for several Wisconsin daily newspapers.

High Violet Salon and Spa is one of several small merchant bitcoin success stories CCN has reported in the last year. These anecdotes indicate bitcoin is making progress in this important customer base.

High Violet image

Salon owner Christine Pankow notes that customers can pay with bitcoin using a smartphone app, similar to Google Wallet and Apple Pay. A customer can securely buy bitcoin using their bank account.

Merchant Likes Low Fees

Pankow especially likes the fact that when customers pay with bitcoin, she as the vendor does not pay transaction fees as she does with credit cards. Instead, the customer pays the fees, which are lower than credit card fees. This factor alone is encouraging Pankow to accept bitcoin payments......Read more

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Bitstamp Opens Gold Buying Service to European Customers

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Source: CoinDesk.com

Bitcoin exchange Bitstamp has partnered with precious metal traders Moro & Kunst to provide its customers with the option to purchase gold using US dollars.

The service is being advertised as a withdrawal option for exchange users, as Bitstamp users can purchase gold directly from the firm's website (see image below), choosing from bars ranging between 1–1000 grammes.

After ordering, gold shipments are labelled with a certified tracking number and expedited delivery in two to five days, according to the company.

On Bitstamp's website, gold prices are quoted in US dollars and updated every five minutes.

Bitstamp gold bars

"We want to introduce a bitcoin/gold trading pair and this is first step in doing so. We think that clients that are long in bitcoin would prefer to take advantage on bitcoin's volatility if they trade it against alternative store of value – gold," said Nejc Kodrič, Bitstamp's CEO.

The firm told CoinDesk it plans to expand the service soon, potentially offering gold storage at Moro & Kunst's vaults in Vienna or Ljubljana, and eventually introducing direct convertibility of gold and bitcoin.

Notably, similar services ran into problems in the US last year, with the Financial Crimes Enforcement Network (FinCEN) having ruled that tokenising commodities such as precious metals classes a business as a money transmitting business (MTB). This places extra regulatory and licencing requirements on a business, as well as costs.

However, Bitstamp told CoinDesk that the gold-buying service is only available currently in the EU, adding that all 28 member countries are covered, including the UK.

Gold image via Shutterstock
 

Source: CoinDesk.com

 

OpenBazaar: A Free and Open Marketplace for the Digital Age

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Join the world on a mission of freedom.

Freedom to purchase, sell, and trade.

 

 

OpenBazaar is a decentralized platform for online trade, using Bitcoin. No middleman to censor your trade or take a cut; you can use OpenBazaar to exchange directly with anyone on the internet.

Visit http://www.OpenBazaar.org to find links to our forum and other information.

Check out our Github at http://www.github.com/OpenBazaar/Open....

We need developers to continue building this platform, please contact our team at This e-mail address is being protected from spambots. You need JavaScript enabled to view it if you want to help out, or feel free to submit pull requests.

You can donate Bitcoin to 16uniUFpbhrAxAWMZ9qEkcT9Wf34ETB4Tt.

Animation produced by Steve Patterson ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ).

Music is "AstroSteps - Paradise" by Christian Enmon. https://soundcloud.com/astro-steps/as...

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(Audiobook) The Original Bitcoin White Paper by Satoshi Nakamoto

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Download the original whitepaper here. http://bitcoin.org/bitcoin.pdf

From wikipedia....
In November 2008, a paper was posted on the internet under the name Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System. This paper detailed methods of using a peer-to-peer network to generate what was described as "a system for electronic transactions without relying on trust". In January 2009, the Bitcoin network came into existence with the release of the first open source Bitcoin client and the issuance of the first bitcoins, with Satoshi Nakamoto mining the first block of bitcoins ever (known as the "genesis block"), which had a reward of 50 bitcoins. The value of the first bitcoin transactions were negotiated by individuals on the bitcointalk forums with one notable transaction involving a 10,000 BTC pizza.

"Satoshi Nakamoto" is a pseudonym for the unknown person or people who designed the original Bitcoin protocol in 2008 and launched the network in 2009. Nakamoto was responsible for creating the majority of the official Bitcoin software and was active in making modifications and posting technical information on the BitcoinTalk Forum.[73]

 

Bitcoin: The End of Money As We Know It (Trailer)

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AVAILABLE NOW: https://vimeo.com/ondemand/bitcoin

Documentary, 60 minutes, Release: July 2015.
fb: https://www.facebook.com/bitcointheen...
Twitter: @TheEndOfMoney
imdb: http://www.imdb.com/title/tt4654844/
Bitcoin: The End Of Money As We Know It traces the history of money from the ancient world to the trading floors of Wall St. The documentary exposes the practices of central banks and the dubious financial actors who brought the world to its knees in the last crisis. It highlights the Government influence on the money creation process and how it causes inflation. Moreover, this film explains how most money we use today is created out of thin air by banks when they create debt. Epic in scope, this film examines the patterns of technological innovation and questions everything you thought you knew about money. Is Bitcoin an alternative to national currencies backed by debt? Will Bitcoin and cryptocurrency spark a revolution in how we use money peer to peer? Is it a gift to criminals? Or is it the next bubble waiting to burst?
If you trust in your money just as it is... this film has news for you.

 


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