Tag Archives: Bitcoin

First two-way Bitcoin ATM Launched in Finland

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“Cointter has silently launched a two-way LocalBitcoins ATM in Helsinki. So far Cointter operates two ATM’s located in the city center: one at Delish store, that is already live in testing, and another one at Restaurant Kynsilaukka (about to go live on April 9th).  The Cointters LocalBitcoin ATM at the Delish store is open for public testing 24/7. The machine is surprisingly easy to use and is the first two-way Bitcoin ATM in northern Europe and amongst the first ones in the world.”

http://gizmopolis.com/cryptocurrency/first-two-way-bitcoin-atm-launched-finland/

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New bitcoin debit card claims to work with 90 percent of US ATMs

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“Bitcoiners may soon have a new way to use their cryptocurrency in the real world: the Cryptex Card, a new global bitcoin-to-cash ATM and debit card. The Hong-Kong based startup announced on Monday that it will begin shipping its cards in the next four to six weeks.  The Cryptex Card works like this: instead of buying products directly with bitcoin, the cardholder sends bitcoin to an address linked with the card, which converts it to cash. The card can then be used to withdraw money at more than 90 percent of U.S. ATMs or at certain ATMs in 80 countries. The cards are tied to Chinese card provider Union Pay, which lets the debit card work anywhere Discover cards are accepted.”

http://gigaom.com/2014/04/07/new-bitcoin-debit-card-claims-to-work-with-90-percent-of-us-atms/

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Irish Company Now Paying Employees’ Salaries in Bitcoin

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“An Irish company has begun paying its employees’ salaries in bitcoin.  Dublin-based electronic repairs firm GSM Solutions, which hosts Ireland’s first bitcoin ATM, is now paying five of its employees partly in bitcoin instead of euros.  ‘We set salaries in euros, so that the euro amount they get each pay period does not fluctuate with the price of bitcoin,’ said GSM Solutions’ Managing Director Alan Donohoe in a blogpost.  Tony Vaughn, a small town sheriff from Kentucky, became the first US government employee to be paid in bitcoin.  GSM says it hopes to convert the rest of its employees to bitcoin by the end of the year.”

http://www.coindesk.com/irish-company-now-paying-employees-salaries-bitcoin/

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Interview with finance guru, entrepreneur Jeff Berwick

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“I personally save a percentage of the profits of all my Bitcoin revenue I receive with no plans to sell.  I have been offering every product that my companies offer for Bitcoin for three years now so I have been constantly squirreling away bitcoins.  We have sold passports, offshore bank accounts and corporations, newsletter subscriptions to TDV and even condos that I offer through my company in Acapulco, AcaCondos and rentals at my hotel in Acapulco, Las Torres Gemelas Private Suites for bitcoins and as I stated my strategy is to keep a large percentage of my profit on those transactions in Bitcoin.”

http://cointelegraph.com/post/interview_with_finance_guru_entrepreneur_jeff_berwick

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Hackers turn security camera DVRs into bitcoin miners

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“A computer security instructor says he’s discovered that hackers have been able to infiltrate standard security cameras and then use that hardware to mine for bitcoin, the anonymous digital cryptocurrency.  Johannes Ullrich, a teacher at the computer security SANS Technology Institute, announced last Friday that he found malicious software on Hikvision digital video recorders (DVRs), which are used to record video from surveillance cameras. The virus seems to spread from device to device onto each machine it connects with on the network in question. It also uses the closed-circuit television operators to mine for bitcoin, sending those profits back to the virus’ creator.”

http://rt.com/usa/hackers-security-dvrs-bitcoin-miners-913/

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Neo & Bee CEO Danny Brewster Faces Fraud Allegations in Cyprus

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“Danny Brewster, CEO of bitcoin services company Neo & Bee, is reportedly facing fraud charges filed by two customers in Cyprus who claim that they have never received any bitcoins from the company.  According to a report in the Cyprus Mail, the customers paid €15,000 and €20,000 respectively, for the bitcoins, which never materialised. Police are investigating, the newspaper says.  Earlier this week Neo & Bee was caught up in a media frenzy, after it emerged that the company may be facing insolvency. Neo & Bee then asked Havelock Investments to suspend trading of LMB Holdings shares. LMB Holdings is the parent company of Neo & Bee.”

http://www.coindesk.com/neo-bee-ceo-danny-brewster-faces-fraud-allegations-cyprus/

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Alleged Silk Road founder: If Bitcoin isn’t money, how did I launder it?

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“Ross Ulbricht, who stands accused of running the Silk Road black market under the name ‘Dread Pirate Roberts,’ says that new federal bitcoin laws make the charges against him invalid. In a filing over the weekend, Ulbricht’s lawyers defended him against charges of hacking, narcotics trafficking, operating a criminal conspiracy, and money laundering. The first three charges, his lawyers argue, are ‘unconstitutionally broad’ and can’t be applied to the normal operation of a website, even one whose business is illegal goods. And the last charge, they say, makes no sense if there isn’t actual money involved — a possibility implied by a recent IRS decision.”

http://www.theverge.com/2014/4/1/5570984/alleged-silk-road-owner-says-he-cant-be-guilty-of-money-laundering

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Bitcoin Prices Whipsawed by Looming China Crackdown

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“While the PBOC doesn’t appear ready to ban Bitcoin outright, they appear determined to drive it out of the Chinese banking system.  The Chinese government apparently was concerned over investor speculation in the digital currency, and in particular in the use of Bitcoin to move money outside the country. Once people started using Bitcoin to bypass China’s strict capital controls, the government almost had no choice but to cut it off from the banking system.  For China’s Bitcoin exchanges, which include BTC China and OKCoin, the news is bad but not necessarily fatal.  But longer term, this is just another pebble in the stream.”

http://moneymorning.com/2014/04/02/bitcoin-prices-whipsawed-looming-china-crackdown-long/

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Colombia Stops Short of Bitcoin Ban, Bars Banks From Industry

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“Despite reports that the SFC could enact harsh restrictions on bitcoin – one report suggested it would go so far as to ban bitcoin transactions altogether, the SFC issued what amounted to a boilerplate warning to consumers, and blocked financial institutions from holding, investing in or brokering bitcoin transactions.  The release indicated that bitcoin fails to meet the definition of a currency according to the criteria set forth by the International Monetary Fund (IMF), as it is not backed by a central bank.  Further, the SFC reiterated that digital currencies can be used for illicit means, including money laundering and terrorist financing.”

http://www.coindesk.com/colombia-stops-short-bitcoin-ban-bars-banks-sector/

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BitPagos is Bringing Bitcoin to the Developing World

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“While Americans, Europeans, Australians, and other members of developed nations are not trying to flee their local currencies to find a safe haven for their savings, there are plenty of people in South America and other parts of the world where the local currency has detrimental effects on the well-being of the individuals in that country. BitPagos’ services can be used in almost any part of the world where bitcoins could be viewed as an alternative to the local fiat currency.  People in places like Venezuela are looking to flee the local currency and get into bitcoins, not the other way around. This is the aspect of Bitcoin adoption in developing nations where BitPagos can help the most.”

http://www.cryptocoinsnews.com/news/bitpagos-bringing-bitcoin-developing-world/2014/04/04

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