http://moneyandtech.com/may-14-news-update/ The US-China Economic and Security Review Commission released a report on Monday entitled "Bitcoin's Uncertain Future in China"" which indicates that China's crackdown on bitcoin could threaten to undermine the industry's global economy. The report states, "If Chinese regulators successfully prevent Chinese users from accessing bitcoin, the global bitcoin market will face continued price declines, significantly decreased trading volumes and threats to its legitimacy." This could ultimately force China's bitcoin economy off mainland to Hong Kong, which the report contends is the "most suitable transplant location ahead of Singapore and South Korea". According to Kyodo News International, Japan's Ministry of Economy intends to investigate how they can monitor illegal bitcoin activity on the web, given the government's growing fears that criminal organizations are using bitcoin for money laundering and drug dealing. Japanese Prime Minister Shinzo Abe also reportedly plans to formally classify bitcoins as a new type of "value-added electronic record," similar to credit cards, rather than currency. But far from imposing regulation, Abe's Liberal Democratic Party is hoping to use the digital currency to bolster foreign investment and business in Japan. The Bank of Canada released a report Tuesday titled "Understanding Platform-Based Digital Currencies" which studies whether centralized digital currency platforms such as Facebook or Amazon could replace credit cards in the near future. The report highlights the speculation from some that "these currencies could become widely accepted and could even compete with national currencies," and adds that "Digital currencies represent innovations that could increase the efficiency of retail payments." However, it concludes that "For the most part, digital currencies issued by proprietary Internet platforms are unlikely to affect existing national payment systems in any significant way." DogeVault posted an announcement on Sunday that their online wallet service has been hacked, forcing them to immediately halt operations in order to assess the attack and potential impact on user's funds. Not much more is known at this time, but the company has promised more news soon. A new bitcoin hedge fund is launching this week from Coin Capital Management, which will buy and hold the digital currency for clients in what Managing Partner Samuel Cahn calls "an institutional grade hedge fund using the same types of checks and balances that investors have come to expect." In the UK, bitcoin exchange Bittylicious has announced that EU citizens can now use Visa and MasterCard to buy bitcoins on its platform, with the goal of making the bitcoin buying process as simple as possible. Currently, these credit and debit card payments can only be made in Euros, but there are plans to add other EU currencies in the upcoming weeks. The inaugural Bitcoin Finance Conference and Expo will gather together the most innovative and influential leaders in the Bitcoin, payments and financial services industries on July 3rd and 4th at the Royal Dublin Society in Ireland. Among these featured attendees will be leading companies Circle, Stripe, BitPay, Blockchain.info and BTC China. The event's founder Fergal Murray intends for "Attendees will leave with a unique understanding of the opportunities and risks that digital currency presents to payments networks, financial institutions, corporations, and regulatory authorities." We spoke with bitcoin entrepreneur and compliance expert Juan Llanos at the recent Bitcoin Job Fair, who had much to say about both the current regulatory challenges and opportunities for bitcoin around the world. Find that interview here shortly. http://moneyandtech.com/may-14-news-update/
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We answer five of the most googled questions about Bitcoin in under five minutes. Click here to subscribe to Maclean's on YouTube: http://bit.ly/macleanssubscribe Check out our full video catalogue: http://bit.ly/macleansvideos Videos, stories, interactive, charts, and more: http://www.macleans.ca Sign up for our Archives, a digitized collection of more than a century of magazines: http:///www.macleans.ca/archives Download Maclean's Daily App for mobile and tablet: http://bit.ly/macleansapp Like Maclean's on Facebook: http://fb.com/macleans Follow Maclean's on Twitter: http://twitter.com/macleans Follow Maclean's on Flipboard: https://flipboard.com/@MacleansMag Follow us on Instagram: https://www.instagram.com/macleansmag/ Check out our Pinterest: https://www.pinterest.com/macleansmag/
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$5 bitcoins @ www.youtube.com/watch?v=MtI7NHMHEbI It's been an incredible year for Bitcoin. But as the success of the cryptocurrency system hits the mainstream, the curiosity surrounding its anonymous creator is growing. Some theories suggest the NSA could be responsible, some say it could be a man called James Clear, some have suggested the trio of Neal King, Vladimir Oksman and Charles Bry. Who are the people being credited with creating Bitcoin? =========================================================================== Helpful Keywords how to buy bitcoins in canada buy bitcoins instantly buy with bitcoins buy bitcoin online how do i buy bitcoin buying bitcoins in canada buy silver with bitcoin how do you buy bitcoin where can you buy bitcoins buy bitcoin anonymously where can i buy a bitcoin how can i buy a bitcoin where to buy a bitcoin how can i buy bitcoin buying bitcoin uk how to buy bitcoin uk how can you buy bitcoins where can i buy bitcoins uk how can i buy bitcoins uk how to buy bitcoins safely buy bitcoins easily buy bitcoin with bank account buy bitcoins quickly bitcoins with cash buy bitcoin israel buy bitcoin exchange where to buy with bitcoins where buy bitcoin buy bitcoin with bank transfer buy vpn with bitcoin Video URL: http://www.youtube.com/watch?v=zytUA52yHxc
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GoCoin CEO Steve Beauregard discusses the GoCoin Bitcoin payment gateway solution for merchants. If you are looking for a Bitcoin or Litecoin payment processor or payment gateway. Watch this video and discover how to integrate Bitcoin into your business as a merchant or a developer through the most extensive Bitcoin API available. Transcript: Bitcoin conference Steve Beauregard of GoCoin and the bitcoin payment processing API So what I want you to consider here today, is "what role will Bitcoin and digital currencies in general play in the global emergence of payment systems". Because here we are, twenty years into the internet world, a global connected community, and this is the state of the art. This I took the other day at a sushi restaurant, there's four terminals here, all of them from different banks, none of them talk to the same systems, and that's the state of the art in payments. So you have a broken system, and we're here looking at an opportunity where we could literally save hundreds of billions of dollars by improving this and centralizing with a single currency, because that's the best way to bring down barriers. You look at the Euro, you look at how it's unified a lot of the currency across Europe and we have the same opportunity here. Is this possible? Can we trust Bitcoin? I mean we're gonna blindly send a transmission over a wire? So none of this is really possible without some sort of a trust system, some sort of transparency. You know, let's take Uber, for example, if anybody's ever used Uber to get a ride instead of a taxi, where you make the request right from your smartphone, and you see the driver who's going to pick you up, and his rating, and what people have said about him, and you say "hey, this guy has 3 stars, I don't want to get in his machine". But you do if they have 5 stars, and meanwhile the driver gets to look at you, so there's trust. A bond is built. So what's working against that trust bond? This guy (gestures) this guy's working against that trust bond, okay? So it's the fear economy, it's the big fear, of the unregulated Bitcoin. Everybody knows that Bitcoin is used for selling drugs and trafficking humans and all kinds of bad stuff, like child pornography and money laundering and , oh! Did I say money laundering? Well that only happens with Bitcoin, right? Well, actually it doesn't. In December 2012, Standard Chartered Bank was fined for 133 million dollars of money laundering. They're regulated, but they play by different rules, absolutely, but they still have a problem. The same month, HSBC, part of a 1.9 billion dollar settlement, part of it was for bulk cash transactions. Where they're sending bulk cash for international crime rings, allegedly. But they settled it, nobody went to jail! Sorry, we'll just pay a bunch of fines, 1.9 billion and there we go! So what does all this mean? I would argue that here we are, looking at social networking and the types of payments that we're talking about, most of the people have transparency, they're on social networks, their real, true identity. So what are the drivers? Some of the obvious ones, hyper-inflation, you see it in Argentina, you see different countries where the currency... you're losing money every day, you say "hey, I better move my money somewhere". So the big opportunity that I see is really the unbanked people that have never been able to participate in online shopping. You know, in Indonesia, 13% have bank accounts, and it's a really, really crazy low number. All these people can't shop online, they can't play games online, all they can do is go buy a little scratch card at the 7-11, and they go back to scratch the back of the card. Well, 20% of that money ends up going to the 7-11, to the processor of the payment, to the guys that make the cards, all these people in the ecosystem making money. One other point I want to make here is Zimbabwe had hyper-inflation, and what happened, the de-facto currency quickly became the US Dollar, even though it was illegal to make another currency, a foreign currency, your day-to-day currency. So let's talk about the differences here, if you got currencies here, centralized and decentralized. You have the US Dollar. 56% of the worldwide transactions happen in the US Dollar. In terms of reserves, money that other foreign countries hold in reserve, 66% are for foreign currency reserves. Second to that is the Euro, which is about 25% of the reserves.
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