Tag Archives: Money

Banking will be transformed – by technology, not politics

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“When did you hear of Bitcoin? The first transaction involving the digital currency was just four years ago – believed to be a Briton paying a programmer in Florida for a pizza. But Americans are embracing this form of computer-generated money so fast you can now use it to buy a ticket to the ball game – as well as a flight into space with Virgin Galactic.  What new financial instrument will we be writing about come 2020? We just don’t know – and it is this hectic pace of change in finance that poses the greatest challenge to Labour‘s proposals to break up the banks.”

http://www.theguardian.com/commentisfree/2014/jan/19/online-banking-high-street-labour-reforms

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Sacramento Kings to accept Bitcoin for purchases

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“The Sacramento Kings are set to become the first major professional sports franchise to accept Bitcoin virtual currency for ticket and merchandise purchases.  The Kings announced Thursday that fans will be able to buy gear from the official team store and pay for tickets with the digital money beginning March 1. Purchases will be processed through BitPay, which accepts the digital dollars and pays the Kings in cash.  Kings owner Vivek Ranadive said the new payment method is part of his model for ‘NBA 3.0, which focuses on investments in technology, globalization and deep community partnerships.'”

http://www.usatoday.com/story/sports/nba/kings/2014/01/16/sacramento-kings-to-accept-bitcoin-for-purchases/4520885/

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Doug French: Signs That It’s Time to Head for the Exits

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“Charles Mackay wrote in his classic book Extraordinary Popular Delusions and the Madness of Crowds, ‘Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.’  We are in the one-by-one process and the government knows it. The first signs of capital controls have surfaced. Toting $10,000 worth of financial instruments out of the country is verboten. The US government has signed agreements with countries and banks around the world to keep money inside the US.  But what happens when the citizenry want to leave the government’s currency? If history is any indication, the government will get mean.”

http://www.caseyresearch.com/cdd/obamacareproblems

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JPMorgan CEO: Target breach is a wake-up call

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“More Target-sized security breaches will happen if banks and retail stores don’t start working together to further protect customers’ data, JPMorgan Chase’s CEO Jamie Dimon said Tuesday.  JPMorgan has replaced 2 million credit and debit cards as a result of the Target breach, Dimon said. That number is expected to rise. JPMorgan is the world’s largest issuer of credit cards.  Dimon expects that cybercrimes such as the Target breach will become more common if retailers and banks do not work on security, he said.  ‘This might be a chance for retailers and banks, for once, to work together as opposed to suing each other like we’ve been doing the last decade,’ Dimon said.”

http://www.usatoday.com/story/money/business/2014/01/14/jpmorgan-ceo-dimon-target-breach/4475665/

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The Advantages of Bitcoin Over Paper Money and Gold

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“While there are plenty of people out there who are pointing out that Bitcoin will offer strong competition for the likes of PayPal, Western Union, and even Visa, this kind of statement misses the point. It is true that the Bitcoin protocol could be used to replace these companies at nearly no cost, but bitcoins, the currency, are going head-to-head with gold and fiat money. Bitcoin is both a currency and a payment system, and not many people would dare say that there has ever been a more efficient payment system ever created. The only real question left is whether or not bitcoins, the currency, will be able to take a share of the world currency market.”

http://voices.yahoo.com/the-advantages-bitcoin-over-paper-money-gold-12478979.html

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Bitcoin has arrived in Vietnam

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“A notice appeared on a website, called the ‘forum for the parents,’ last week: ‘Bitcoin accepted here,’ with the symbol showing that bitcoin is the acceptable payment currency.  This is the first and the only company in Vietnam accepting the payment in bitcoin so far. The notice has immediately caught the special attention from the public. A lot of people, especially the youth, said they would ‘try’ bitcoin after hearing that some people in the world have got rich with the investments in the currency.  However, the majority of the members of the forum admitted that they don’t understand much about the currency, and that first of all, they need to learn what bitcoin means.”

http://english.vietnamnet.vn/fms/business/93786/bitcoin-has-arrived-in-vietnam.html

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First Online Eyewear Retailer to Accept Bitcoin for Products

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“Coastal.com, the leading manufacturer and digital retailer of high-quality glasses and contact lenses, announced today its plans to accept Bitcoin as a form of payment in the coming months. Coastal.com will be the first eyewear retailer to accept the digital currency as payment for products.   Bitcoin is the most widely used digital currency in the world. Coastal.com plans to work alongside Bitcoin payment processors in order to closely manage transactions. Customers will be able to conveniently select Bitcoin as a payment method along with Visa, Mastercard, Amex, Discover, PayPal and BillMeLater.”

http://uk.finance.yahoo.com/news/first-online-eyewear-retailer-accept-140000378.html

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BitPay’s Bitcoin Payroll API Lets You Get Paid in Cryptocurrency

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“Are you bonkers for Bitcoin? If so, then you may want to talk your employer into using the new Bitcoin Payroll API from leading digital currency payment processor BitPay, which allows businesses to pay all or a portion of workers’ salaries in the cryptocurrency. This could be a good way for anyone looking for a relatively easy way to get into Bitcoin. As BitPay co-founder and CEO Tony Gallippi said in a statement, ‘For the longest time the hard question was ‘How do I buy bitcoin?’ Now the answer is easy: ‘Ask your employer.’'”

http://www.digitaltrends.com/cool-tech/bitcoin-payroll-api-bitpay/

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High-Profile Dutch Lawyer Welcomes Bitcoin Payments

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“Are you in desperate need of legal advice in the Netherlands? Struggling with money transfers to pay for a lawyer after some unfortunate incident in an Amsterdam nightclub?  Well, you can now hire one of the Netherlands’ most high-profile criminal defence lawyers, and pay in bitcoin.  Peter Plasman is one of the Netherlands best-known defence lawyers, with an office of 23 staff in central Amsterdam. He is a regular fixture on Dutch news after a number of high profile cases.  According to Plasman’s office, the system is already up and running. They have set up a contract with the Atlanta-based payment processing company Bitpay and Plasman is already advertising bitcoin as a payment option.”

http://www.coindesk.com/high-profile-dutch-lawyer-welcomes-bitcoin-payments/

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Ninth-Largest Newspaper In The US Is Trying Out A Bitcoin Paywall

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“The Chicago Sun-Times, the ninth-largest newspaper in the country, is trying out a Bitcoin paywall.  Starting Feb. 1, for 24 hours, readers will be able to donate some amount of Bitcoins, or confirm that they’ve Tweeted about a nonprofit called The Taproot Foundation, to access the site.  According to TheDomains.com — the first to report the experiment — the goal is to test the functionality and acceptance of Bitcoins on the site. The Taproot Foundation that connects professionals with pro bono work opportunities at other nonprofits.  The paywall will be set up by BitWall, which helps set up micropayment platforms for online publishers.”

http://www.businessinsider.com.au/chicago-sun-times-bitcoin-paywall-2014-1

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