Bitcoin Plaza

Friday, March 6, 2015

Deutsche Bank Veteran: Brazil’s Weakening Currency Creating ‘Perfect Environment’ for Bitcoin

CoinTelegraph spoke to Miranda about his plans for the newly launched exchange, Bitcoin’s “untapped potential” in Latin America, and the increasing popularity of BTC in the world’s 7th largest economy

CheapAir Allows Travel to Cuba, Payment with Bitcoin

CheapAir, the first mainstream online travel agency to offer customers the option to pay in bitcoin, litecoin and dogecoin, is now first U.S. company to provide its customers the opportunity to fly to Cuba.

Although recent changes have lifted many travel restrictions to Cuba, there are still limitations.

CheapAir’s website reads:

“U.S. citizens and residents are only permitted to travel to Cuba for one of 12 authorized reasons. They are:

family visits

official business of the U.S. government, foreign governments, and certain intergovernmental organizations

journalistic activity

professional research and professional meetings

educational activities

religious activities

public performances, clinics, workshops, athletic and other competitions, and exhibitions

support for the Cuban people

humanitarian projects

activities of private foundations or research or educational institutes

exportation, importation, or transmission of information or information materials

certain authorized export transactions

You can book your flight on CheapAir.com and, before you complete your purchase, we’ll ask you to specify which of the 12 reasons applies.”

Direct flights between the United States and Cuba still aren’t legal, so flying to Cuba requires a connecting flight to a third country.

The CheapAir website says it offers flights to Cuba through Mexico. Though the traveler would have to buy a flight from the United States to Mexico, then buy a separate flight from Mexico to Cuba, CheapAir packages the flights for the traveler.

Additionally, traveling to Cuba does require a visa, but acquiring one is a simple process. It costs the equivalent of $25-$30 USD (0.08791- 0.1053 bitcoin as of 3/3/15). They’re available at any gateway airports that offer flights to Cuba.

Don’t expect to easily use your bitcoin in Cuba, though, as there isn’t even infrastructure yet in place for the use of foreign credit cards.

Cheapair’s website reads:

“Most U.S. citizens who travel abroad are used to easy access to ATMs (even in very remote locations). At the moment, ATMs are not available in Cuba, though banking relationships are in the beginning stages. In theory, Cuban ATMs could work for Americans traveling abroad in the near future. For now, you’re going to need to bring cash with you and convert to the Cuban Peso at local banks. If your stopover in Mexico City is for more than a few hours, you can also pull money out in Mexican Pesos. But be warned, the Mexican Peso to Cuban Peso exchange rate is notoriously bad. You’re better off exchanging USD, EUR or CAD for Cuban Pesos. Euros and Canadian dollars historically get a more favorable exchange rate on the ground in Cuba. Master Card has been given the go-ahead to accept transactions from Cuban businesses and will be operational by March 1, 2015.”

There is possible future opportunity for a remittance market in Cuba. In 2012, Cuba reported $2.6 billion in remittances. Through technology such as Bitcoin, Cubans living in the United States could send money to their families back home for a lower rate than any remittance company. It would also allow individuals to send smaller amounts than ever before.

An impediment to this market’s creation, however, is the lack of widespread Internet across the country. If Cubans do acquire wider Internet access, they have an opportunity to skip ATM technology, and “leapfrog” to modern payment systems.

A few hotels in Cuba currently have Internet service for guests at a premium, but connection speeds are slow and there are time limits on its use.

CheapAir has uniquely positioned itself to be the only U.S. travel agency to allow people to go to Cuba, and allow them use new forms of money to do so.

MAR 6 DIGEST: Third US Marshals Bitcoin Auction Sees Increased Bidder Interest, Study Suggests Miners Lose Money

The US Marshals Service announced that 14 bidders participated in yesterday's auction of 50,000 BTC, a university study suggests that most BTC miners lose money, and more top-stories for March 6.

HK Police Arrest 5 Involved in MyCoin’s Alleged Bitcoin Ponzi Scheme

Hong Kong police arrested five suspects on Thursday, March 5 in connection to the MyCoin alleged Bitcoin scam. Authorities are still searching for the directors and shareholders of the investment comp

Bitcoin Can Stop ISIS Marketing and Mass Terrorism (Op-Ed)

The past couple of weeks have seen some interesting statements made regarding Bitcoin and terrorism. And no, it wasn't another hilarious attempt by Haaretz News to paint Bitcoin as a terrorist's favor

Andreas Antonopoulos to Keynote ‘Bitcoin and the Future of Payments’ at Decentral/MaRS

Toronto’s Decentral is moving its meetups to MaRS incubator as their partner in their new Fintech branch. Andreas Antonopoulos is scheduled to keynote at the inauguration event on March 17.

China's Possible Shift Towards Transparency in Crypto- Regulation Divides Bitcoin Community

Chinese lawmakers have delivered long-awaited clarification on foreign tax policy, leading to speculation that further concrete financial statements and possible clarification of its stance on Bitcoin

Thursday, March 5, 2015

Japan’s New Crypto-Exchange Aims to Fill Mt.Gox Vacuum, Improve Bitcoin’s Image

Japanese startup Tech Bureau Inc. launches a new cryptocurrency exchange, dubbed Zaif exchange, supporting Bitcoin as well as the "Japanese Dogecoin," Monacoin, in a bid to become "the hub that connec

MAR 5 DIGEST: Coin Brief Editor Arrested Over ISIS Link, Silk Road BTC Auction Begins Today

The teenage co-founder of an Arabic language cryptocurrency exchange and editor at Coin Brief has been arrested over a suspected link to assisting a man travelling to fight alongside ISIS. Ross Ulbric

Blizzard Creates Own Digital Currency for World of Warcraft, Still Doesn’t Accept Bitcoin

Blizzard, one of the biggest game producers, announced the release of an in-game digital currency tradable as tokens in their upcoming patch of World of Warcraft.

Wednesday, March 4, 2015

Facebook Debate Prods Europe's Largest Military Surplus Dealer to Accept Bitcoin

Taking their lead from a group of Bitcoin enthusiast customers and a “serious, public conversation” on Facebook, Europe’s military surplus giant, Varusteleka, now accepts bitcoin payments.

ANU Professor: AusBit, not Bitcoin, Will Replace Cash in Australia within 10 Years

While Australia holds off on removing the double taxation of digital currencies, researchers have said that they could in fact replace cash altogether in the country – in as little as 10 years.