Tag Archives: Money

Chicago Sun-Times First Major US Newspaper to Accept Bitcoin

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“Following its successful test with bitcoin micropayments provider BitWall back in February, the Chicago Sun-Times has announced that it has partnered with San Francisco-based bitcoin startup Coinbase to accept bitcoin payments.  That test saw the newspaper receive more than 700 bitcoin donations over a 24-hour trial period in support of the non-profit Taproot foundation, which offers pro-bono service work to organisations tackling social problems.  The announcement makes the Sun-Times the first US newspaper to accept bitcoin as a payment option, a move that editor in chief Jim Kirk indicated was in line with its digital-first promotional strategy.”

http://www.coindesk.com/chicago-sun-times-becomes-first-major-us-newspaper-accept-bitcoin/

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Texas Generally Exempts Bitcoin From Money Transmission Laws

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“The document draws a line of distinction between bitcoins and other digital currencies and sovereign currencies like the dollar. According to the memorandum, digital currencies are not recognized as legal tender in Texas because they lack backing from an institution like a central bank, do not have intrinsic value and do not carry any guarantees of redemption.  Overall, the statements clarify the statutes which govern the establishment of third-party bitcoin exchanges that handle sovereign currencies, providing a clearer path for those who might seek licensure in Texas.  As a result, the exchange of digital currency and sovereign currency does not qualify as a money transmission.”

http://www.coindesk.com/new-texas-memorandum-outlines-initial-bitcoin-exchange-guidelines/

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The Future is Here: Hire a Drone With Bitcoin

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“Here at Drone Hire we’re excited about technology and its potential to help make our world a better place. Two technologies we are particularly excited about are civilian drones and Bitcoin.  So we are incredibly excited to announce that the future is officially here: Not only can you hire a drone operator to do aerial photography, aerial mapping, aerial surveying and a myriad of other services, you can pay them with Bitcoin.  CopterBilde.de, based in Germany, is a drone business that has embraced Bitcoin. Another business which accepts Bitcoin is TurnDriverSide.com, who specialise in motorsports photography. We expect that many others will follow suit this year.”

http://www.dronehire.org/blog/the-future-is-here-hire-a-drone-with-bitcoin

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Wal-Mart sues Visa for $5 billion over card swipe fees

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“Wal-Mart Stores Inc this week sued Visa Inc for $5 billion, accusing the credit and debit card network of excessively high card swipe fees, several months after the retailer opted out of a class action settlement between merchants and Visa and MasterCard Inc.  In December, a federal judge in Brooklyn, N.Y., approved a $5.7 billion class action settlement between merchants and Visa and MasterCard despite the objections of thousands of retailers that complained it was inadequate.  Wal-Mart, Amazon.com Inc, and Target Corp were among those opting out of the monetary components of the settlement to have the freedom to seek damages on their own.”

http://www.reuters.com/article/2014/03/27/us-walmart-visa-lawsuit-idUSBREA2Q2BJ20140327

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The Benefits of Bitcoin in International Travel

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“Bitcoin solves many problems that international travellers currently deal with. It eliminates the hassle and fees associated with converting to local currencies and carrying cash, and it securely protects the payment credentials of consumers to avoid fraud risk and the potential to lose bank account access in a foreign country.  While it is tough to travel with only bitcoin on international trips at the moment, the rapid merchant adoption of bitcoin is changing this.  Travel-focused merchants such as CheapAir.com, BTCTrip and Pointshound are just a few merchants generating significant bitcoin sales from international travellers.”

http://www.coindesk.com/benefits-bitcoin-international-travel/

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Cyprus abolishes maximum daily cash withdrawal limits

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“In a decree issued by the finance ministry, the 300 euro limit per person per day was scrapped, along with restrictions on breaking fixed-interest time deposits prior to maturity.  The decree also allowed, under conditions, individuals to open bank accounts in other credit institutions.  Restrictions remain on moving money abroad. Cypriot officials have previously said they anticipate that all controls could be fully lifted by the end of 2014.  Cyprus was forced to wind down a major bank and convert large deposits in a second to recapitalise it in order to qualify for aid from the International Monetary Fund and the European Commission.”

http://www.reuters.com/article/2014/03/28/cyprus-capital-controls-idUSL5N0MP3GP20140328

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Putin eyes a Russian credit card system after Western sanctions

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“President Vladimir Putin on Thursday said Russia should create its own national payment settlement system, in a bid to reduce economic dependence on the West amid the controversy over Moscow’s seizure of Crimea.  In countries such as Japan and China these systems work, and work very well,’ Putin told lawmakers in televised remarks.  Initially, they started out solely as national systems limited to their own markets, their own territory, their own population but they are becoming more popular right now.’  ‘Why should we not do it? We should definitely do it and we will do it,’ he said, noting that Russia’s Central Bank and the government have been looking into the matter.”

http://news.yahoo.com/russia-create-own-national-payment-system-ptuin-says-000217707.html

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How rumor sparked panic and three-day bank run in Chinese city

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“The rumor spread quickly. A small rural lender in eastern China had turned down a customer’s request to withdraw 200,000 yuan ($32,200).  Bankers and local officials say it never happened, but true or not the rumor was all it took to spark a run on a bank as the story passed quickly from person to person, among depositors, bystanders and even bank employees.  Savers feared the bank in Yancheng, a city in Sheyang county, had run out of money and soon hundreds of customers had rushed to its doors demanding the withdrawal of their money despite assurances from regulators and the central bank that their money was safe.”

http://news.yahoo.com/chinas-sheyang-county-says-funds-protected-rumors-spark-010251702–sector.html

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Cryptocurrency Payment Processor GoCoin Gets $1.5m in Funding

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“GoCoin has announced it has raised $1.5m in funding in order to expand its operations as an international payments platform for cryptocurrencies.  GoCoin plans to use the funding to expand its sales and technology teams as demand for cryptocurrency payments grows.  GoCoin competes with Coinbase and BitPay in the bitcoin payment processor market.  A favorable regulatory environment in Singapore led GoCoin to incorporate its business there. And it is focused on markets outside of the US.  GoCoin started to accept litecoin back in January. It recently added support for dogecoin as well.”

http://www.coindesk.com/cryptocurrency-payment-processor-gocoin-gets-1-5m-funding/

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Agora Commodities Surpasses $10 Million in Bitcoin Sales

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“Agora Commodities was one of the earlier innovators in the Bitcoin market when they announced that they would begin accepting Bitcoin for payment for gold and silver. Since that time they have done over $10 million in Bitcoin transactions alone. In just under one year Agora Commodities has become the largest Bitcoin to Bullion dealer in the world.  Agora Commodities is the first full service Bitcoin to Bullion dealer. They offer all the most popular gold, silver, platinum, palladium, and rhodium investment grade bullion products at the lowest prices. Visit them on the web or (877) 576-7342 to find out how they can help you secure your financial future.”

http://www.digitaljournal.com/pr/1810619

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