Friday, August 7, 2015
AUG 7 DIGEST: G7 Pledges Support for 'Appropriate' Bitcoin Regulation; Market Research Analyst Qualtrics Adds BTC Rewards
Blockchain Startup to Corporate Bully: ‘We’re Not Going to Take This Lying Down’
‘Fundamentally Apolitical’ Bitcoin Arrives in Cuba amid US Relations Thaw
Thursday, August 6, 2015
Paying Your Rent with Bitcoin in 4 Steps
Poland’s State-Owned LOT Airlines Now Accepts Bitcoin
Another Bitcoin Startup Leaves NY Due to BitLicense
Poloniex, a U.S.-based cryptocurrency exchange, has left New York due to the restrictions and limitations of the state’s BitLicense.
Including Poloniex, three bitcoin startups have shut down their operations in New York during the past few months and declined to comply with BitLicense, a set of rules that restricts operations of Bitcoin exchanges and demands startups to pay fees to operate legally.
Size
For a relatively small exchange or startup like Poloniex, BitLicense’s requirement that Bitcoin startups to pay a $5,000 non-refundable application fee to operate and continue their services in New York is not an easy demand to satisfy.
“There are always pros and cons to regulations like BitLicense, but from a small business perspective, BitLicense is both limiting and frustrating,” Poloniex founder Tristan D’Agosta told Bitcoin Magazine. “For a small business like ours, a $5,000 non-refundable application fee is a nonstarter. Consider what would happen if every state in the union followed suit – it would cost $250,000 just to apply for licenses in all 50 states.”
Furthermore, the current “version” of BitLicense requires Bitcoin startups and exchanges to meet a long list of qualifications before they can be licensed to operate legally. For most small exchanges and startups, it is extremely difficult to meet all the requirements and comply with the set of regulations detailed on BitLicense.
“In the case of BitLicense, once you pay the application fee, you’re then facing a long list of requirements that would disqualify most small businesses,” D’Agosta said. “As a result, we find ourselves in No Man’s Land, where we very much want to service our New York customers, but we are not big enough to qualify for a BitLicense.”
Impact on Users
While the number of Poloniex users in New York isn’t as high as other states, “given that we are a relatively small, boutique exchange that prides itself in the relationships we build with our community of users, the impact on us is big and noticeable,” said D’Agosta.
Validity
The BitLicense drafted by The New York Department of Financial Services requires exchanges to “protect” customers by recording sensitive user data and provide the information to law enforcement when demanded. Ironically, ShapeShift founder Eric Voorhees stated that such “protection” leaves any bitcoin or cryptocurrency exchanges vulnerable to data breaches and hacking attacks, which may leak sensitive customer data.
“More often, we hear the voices of those who believe that state regulations have very little to do with protecting people and see the impending Bitcoin regulations only as a means to control and reap profits for their respective states,” D’Agosta said. “As with the birth of most regulations, the truth is probably somewhere in the middle. If we had the regulators’ ear on the topic, we would want to get across the point that much like any industry, cryptocurrency has businesses of all shapes and sizes as well. BitLicense was not written with small businesses in mind.”
Leading Mexican Bitcoin Exchange Expands to Singapore, Acquires Coin Republic
Leading Mexican bitcoin exchange meXBT has acquired CoinRepublic, the most respected and established bitcoin brokerage in Singapore as a part of its plan to expand throughout the Asia-Pacific region.
Through the acquisition of CoinRepublic, meXBT will benefit from the networks of the Singaporean exchange, which includes local banks, exchanges and financial institutions. The pre-existent customer base and reputation of CoinRepublic will enable meXBT to enter the Singaporean market with ease, and establish itself as a major bitcoin exchange in the country.
“I am very excited,” Gabriel Miron, founder and CEO of meXBT announced. “CoinRepublic is a highly respected brand in the Asian market, and acquiring their business and brand gives us access to participate in one of the most developed markets in terms of financial innovation; establishing meXBT in Asia. We see this as a first step to allowing highly efficient payments cross-border between Asia and Mexico.”
CoinRepublic users will also benefit from meXBT’s real-time data, better trading rates and other unique functionalities of the exchange. Miron declined to disclose the volume of transactions and trades of CoinRepublic.
However, Miron told Bitcoin Magazine, “CoinRepublic, I would say it was one of the main bitcoin providers in Singapore.” Also, he added, their service was a brokerage, while meXBT is a trading platform where users will gain access to better pricing, more liquidity, and several functionalities that Mexican users already have.
Additionally, the firm will work together with its branches in Latin America to enable instantaneous transfer of payments between companies in Latin America and Singapore.
“With our platform using Bitcoin as an intermediary system, transactions between companies of Singapore and Mexico can be done in minutes,” meXBT COO Joel Cano said. “We are using the latest technology combined with a solid legal and fiscal background, providing more attractive commissions than the regular financial market.”
Current Plans
Currently, the meXBT team is introducing the platform to the users of Coin Republic and many other Singaporean bitcoin holders who are in serious need of an established and stable bitcoin exchange.
“We are working on rolling out meXBT trading platform for the Singapore public in the following months,” Miron told Bitcoin Magazine. “We are finalizing several integrations and testing that allow ‘fiat 2 fiat’ using Bitcoin as the back bone which we thing will be a really useful application for users.”
The expansion of meXBT in Singapore will not be restricted by heavy Bitcoin-related regulations and policies. Singapore, unlike other Asian countries has a fundamental grasp and understanding of the technology, and its advantages for merchants, traders and companies.
In fact, just a few days ago Vivian Balakrishnan, the minister-in-charge of the Smart Nation Initiative and a member of Parliament, addressed Bitcoin and its blockchain technology in a presentation at a startup incubator. Balakrishnan explained that the technology behindBbitcoin has many unique use cases, and the technological capability of Bitcoin which enables anyone to instantly send transactions globally is a necessary payment tool to have today.
Despite the launch of meXBT in Singapore, the firm will still focus its operations in Latin America and continue to educate local businesses and merchants about the financial advantages of using bitcoin and its international accessibility.
AUG 6 DIGEST: Tokyo Court Says Bitcoin Not Subject to Ownership; Intel Hiring Crypto Researcher
Why the Rise of Decentralized Media is the End of Censorship
Half Year Report: 60% of World’s Bitcoin Merchants Are Using BitPay
Wednesday, August 5, 2015
Bitcoin Funded Debit Cards Announced by Licensed Bitcoin Exchange Bit-x
Bitcoin Press Release: Licensed UK Bitcoin exchange Bit-x recently released Bitcoin debit cards fully funded by users’ cryptocurrency balances. Bitcoin enthusiasts and professionals can now spend Bitcoin worldwide, anywhere debit cards are accepted – online, in-store, and withdraw cash from ATMs at any location.
Licensed UK based cryptocurrency trading platform Bit-x.com offers a range of services including Bitcoin, Litecoin, and GH/s trading and Bitcoin cloud mining. Bit-x are now proud to present the future of Bitcoin debit cards issued and processed by Bit-x’s exclusive bank partner.
Bit-x Card’s can be used anywhere debit cards are accepted. Users can withdraw money from ATMs worldwide, direct from their Bit-x account containing BTC, LTC, USD, EUR and GBP. The card can also be used for online shopping and at point of sale (POS) terminals worldwide. Bit-x’s trading platform is also offering free trading with no fees until September.
Bit-x Bitcoin Debit Card’s are designated in either USD or EUR, and can be ordered from any country in the world. No verification is necessary to begin using the card, however basic verification comes with added benefits allowing users to deposit sums that exceed 300 USD of BTC, LTC, USD, EUR and GBP.
With Bit-x’s debit card users do not have to manually fund cards for each use: funds are pulled direct from users’ Bit-x wallet. When paying online, in ATMs, or in shops, Bitcoins are exchanged. Funds are exchanged in real-time as the transaction is executed at the current market exchange rate, eliminating Bitcoin price volatility issues.
Transparent Bit-x is a licensed cryptocurrency and mining trading platform secured with two-factor authentication, and multi-signature addresses and transactions. Registering an account requires SMS authorization, and SMS powered 2FA guarantees the security of customer accounts. Bit-x has PCI DSS certification and the experienced team offers outstanding customer service 24/7, professionalism, and an attention to detail rarely seen in Bitcoin start-ups.
Card registered users can access recovery settings for their personal Bit-x account; ensuring accounts may be recovered in case of emergency. For added security no login details can be obtained from the debit card itself. In this regard Bit-x is a step ahead of even mainstream banks’ security processes.
Creating an account and ordering a card is as easy as obtaining an email address. Users simply go to Bit-x.com, and register with a mobile phone number and password of their choice. To order a card users click on balance, select a currency and press “Order Bit-x Card”, and fill in a short form. DHL is a shipping option, for extremely fast delivery of just a few business days. Once the card and pin-code is received, users can activate the card in less than a minute in the user-friendly Bit-x account area. The account holder remains in control of their funds with embedded tracking tools at all times.
The Bit-x Card is a classic sleek black travel debit card with an embedded chip. The card features individual account ID number, expiry date, and CVC2 number on the back.
The Bit-x website features a user-friendly interface and minimalistic design. The login procedure is hassle-free and only requires the account mobile number.
With the launch of Bit-x’s debit card a new era of Bitcoin and digital currency usability has arrived. Novice and experienced cryptocurrency users alike can enjoy spending their funds online, in shops, and from ATMs worldwide with more freedom and anonymity than a traditional bank can offer.
About Bit-x:
Bit-x is a licensed Cryptocurrency and mining trading platform which adheres to all relevant KYC and AML guidelines. Secured with two-factor user authentication, multi-signature addresses & transactions and PCI DSS certification, the platform is efficiently delivered with comprehensive professionalism and meticulous attention to every detail. Trading currencies include BTC, LTC, USD, EUR, GBP and GHs. Mining capacities are provided by BitFury.
BIT-x.com is a trademark of XBIT Ltd, a licensed forex participant. Bit-x is based at Portland House, Bressenden Place, London, SW1E 5RS, United Kingdom.
For more information please visit: https://Bit-x.com/
Media contact
Name: Alex Shultz, Bit-x CEO
Email: media@bit-x.com
City and Country Location: London, UK
This press release is for informational purposes only. The information does not constitute investment advice or an endorsement by Bitcoin Magazine or BTC Media, LLC. Bitcoin Magazine does not certify the accuracy of the above information provided by Bit-x.
About Bitcoin PR Buzz:
Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.
Bitcasino.io Launches Sportsbook And Chance To Win 20,000 mBTC
BitCasino.io, the world’s first legally licensed and regulated online Bitcoin-only casino gaming operator, has announced the launch of its sportsbook for the new English Premiership football season commencing 8th August 2015.
The new bitcoin sportsbook will provide over 10,000 live betting markets per week, including popular fast-developing betting markets such as MMA and eSports.
A spokesperson for BitCasino.io said,
“We have over 100,000 Bitcoin players and many of them have been asking for the ability to place sports bets with our brand. This new sportsbook allows our players, the ability to place larger bets on sport with better odds, instant deposits and cash-outs compared with based operators.
To celebrate the launch of our new sports book, we have a competition to win 20,000 mBTC. It is open to new and existing players, who shall compete in a prize pool to correctly name the football team that scores the most goals during the first weekend of the English Premiership. For more, details please visit our website.”
-Ends-
Editors Notes
About Bitcasino.io (www.bitcasino.io)
Bitcasino.io is the world’s first legally licensed and regulated online Bitcoin-only gaming platforms. Kopikas Enterprises d.o.o. has been granted a gambling license to conduct online gaming operations by the government of Montenegro under the License# 0042 for the website BitCasino.io
Bitcasino.io offers more than 750 casino games, including over €10,000,000 worth of jackpots, blackjack, live dealer casino table games, dice, baccarat, and lotto. Bitcasino.io has the most games, utilizes the latest HTML5 technologies, and offers players the highest limits.
Bitcasino.io’s team of 25 dedicated staff provides 24/7 live chat support ensuring the friendliest service to a player base spanning 80 countries and a player base of over 100,000 players.
This press release is for informational purposes only. The information does not constitute investment advice or an endorsement by Bitcoin Magazine or BTC Media, LLC. Bitcoin Magazine does not certify the accuracy of the above information provided by BitCasino.
About Bitcoin PR Buzz:
Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.
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