Bitcoin's Big Break?

What you need to know about Bitcoin
By Ben Brown  Published January 12, 2017  FOXBusiness 

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FOXBusiness.com sat down with Bitcoin expert, Nick Spanos to explain the crypto currency.

The Internal Revenue Service has filed a John Doe summons in an attempt to acquire data from Coinbase, a digital assets exchange company. If successful, digital currency users who have been using Bitcoin and other alternative currencies to dodge paying taxes could be fined by the federal agency for evading taxes.

However, a Bitcoin user has filed a motion to block the summons and a hearing will be heard on January 19, 2017.

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Swiss Bank Extends Bitcoin Investment Opportunity to Germany, Austria

Swiss Bank Extends Bitcoin Investment Opportunity to Germany, Austria ...

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After the launch of its product for Swiss investors, who expect a positive development in the price of Bitcoin to trade transparently on the SIX Swiss Exchange for the first time, Swiss bank Vontobel has extended its certificate on Bitcoin to Germany and Austria. 

iPayYou is Bringing Bitcoin to Amazon

Bitcoin payments have never been advocated or accepted through the online mega-platform Amazon, but it looks as though things are changing.

Is it fair to say that Amazon and bitcoin have had a rocky relationship?

Canadian Government Moving Faster Towards Mainstream Bitcoin Adoption

It seems that Canada Loves the BitCoin!

Canadian Government Moving Faster Towards Mainstream Bitcoin Adoption

 ~Author Iyke Aru

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Recent events in Canada suggest its government could be well positioned to become an early mainstream adopter of Bitcoin.

How South Africa's 'Shark Tank' Saw its First Bitcoin Investment

How South Africa's 'Shark Tank' Saw its First Bitcoin Investment
~Corin Faife (@corintxt) | Published on November 19, 2016

In what could be a world's first, bitcoin made an appearance on the popular TV series Shark Tank this week.

     Vinny Lingham, "Shark Tank" South Africa                      ~Image via M-Net                                                                                                     

Launched in October, South African audiences now have their own version of the popular TV franchise (in which entrepreneurs with a business idea pitch to a panel of investors, aka the 'sharks’). But while bitcoin may not seem like an obvious fit, a notable investor in the technology is giving it small-screen visibility.

For the first season, one of the four sharks is Vinny Lingham, a South Africa entrepreneur known for a string of companies including Gyft, Yola and now blockchain startup Civic. He also happens to be one of the most vocal supporters of bitcoin, having incorporated it into past products.

BitCoin - From the BBC ... A Look Inside a Secret Chinese BitCoin Mine

In China, savvy entrepreneurs are making millions a year by mining bitcoin. Danny Vincent visited one of the world’s biggest facilities of its kind to film the activity and people within.

~By Danny Vincent

4 May 2016

On the edge of a tiny Chinese town is a strange building where you can get an insight into the future – and only a handful of people know what is happening inside.

I am on my way to visit one of the biggest bitcoin mines in the world: where up to $8m in digital currency is generated per year by solving complicated mathematical algorithms with computers.

The location is secret and I have been invited under the strict condition that I live onsite with the miners. The owners don’t want to broadcast their specific location, because while the Chinese government is neither officially pro or against bitcoin, the huge amount of money flowing from these mines is outside state control.

The Five Most Confusing Things About Bitcoin That Hold Back Its Adoption

The latest in BitCoin information.  

                                                                                         ~image by CoinTelegraph

I just picked up the interesting article off of CoinTelegraph 

~Author Nick Ayton

Bitcoin has been around now for eight years and is maturing with a sizable market capitalization, with more than 25 million wallets in circulation. Adoption has benefited from post-Brexit activities, the U.S. elections and in the past week has been further boosted by events in China with currency exit and with India’s new currency reforms.

Things are hotting up for Bitcoin. But is terminology holding it back?

Bitcoin Could Reach $10,000 or even Higher!

Bitcoin Can Reach $10,000 or Even $1 mln, Chandler Guo Explains How

                                                                           ~image by CoinTelegraph

One of the largest Bitcoin miners in China has suggested that the price of Bitcoin could reach $10,000 or even as high as $1,000.000.

Speaking to ether.camp at the Clare Hall of the University of Cambridge, on the sideline of the Internet-of-Value: Digitising Social Conscience - roundtable debate, Chandler Guo emphasised that all an individual needs to do is invest in just one Bitcoin - as most people don’t invest in it and yet they want to know more about proof of work, how the Blockchain works, why do blocks require 10 minutes, etc.

BitCoins - 50,000 More Outlets

50,000 More Outlets for Instant-Cash-Bitcoin Purchases in Canada, Australia and Europe

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Bitit is currently partnering with Neosurf and its 100,000 plus local stores, and the Bitcoin startup is now planning to expand its network to up to 150,000 retailer stores.

This marks the beginning of a new stage for the Parisian-based company of five, which has partnered with distribution network specialist Flexepin, to launch cash-for-Bitcoin buying in over 15,000 convenience stores in Canada and Australia.

Bitcoin Wallet Provider will have a Record Month Thanks to Trump

The world's biggest bitcoin wallet provider will "pretty easily" have its biggest ever month for activity in November, following a surge in use after Donald Trump's shock election victory in the US.

Peter Smith, the co-founder and CEO of London-based Blockchain, told Business Insider: "We're setting a new record pretty much every day since the election in terms of activity on the platform.

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Blockchain CEO and co-founder Peter Smith

"People are basically hedging against economic instability. It's a worrying time to be holding a lot of British pound or if you're America — people flee to safe haven assets. Bitcoin is one of those."

Does YOUR Business Accept BitCoin?

How long before your business accept payments in bitcoin?

~Ollie McAninch11 Nov 2016

     

For many businesses, talking about bitcoin is like talking in a foreign language. With adoption levels currently quite low, most business people know little or nothing about it.

As a consequence, apart from early adopters, most businesses are avoiding it as an unnecessary inconvenience.

But what if your next great contract is a customer who wanted to pay you in bitcoin? Would you know what to do?

Pay for Your Taxi with BitCoin!

BUDAPEST TAXI! … PAY in BITCOINS 2016!

                                                                                    ~image by rollingbudapest.com

Budapest Taxi held a joint press call with the CoinPay Inc., where the StarUp – Deputy CEO András Lőwy – CoinPay Inc., the COinPAY Developer, and the taxi  managing director of the company Csaba Horváth  announced the following:

The Budapest Taxi in Hungary is to be the first to introduce the CoinPay system allowing quick and secure within the system on coin-based payment.

If the purchaser has Bitcoin , and has a cell phone, he/she can use any service, for example … arriving in the cab to the destination can choose to accept their Bitcoin  wallet in the amount to want to pay for their transportation as a unique identifier, and Scan the QR code.

MasterCard's Bitcoin Efforts Should Pay Off for Investors

MasterCard's Bitcoin Efforts Should Pay Off for Investors ...

The credit card giant MasterCard is making an aggressive push into Bitcoin, presenting a great investment opportunity if you act now.

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MasterCard, which is the second largest credit card payment network, is looking ahead as it dives deeper into Blockchain technology that enables sending money via Bitcoins.

The company's bigger rival Visa also is making moves into Blockchain, a core cyber security technology in financial services that's used by the Bitcoin network.

Blockchain technology could cut costs, speed up settlement timelines and reduce credit risk in the trillion-dollar payments space. 

Buy Bitcoin ... Just a "Google" away!

Are YOU Googling "Buy BitCoin"?

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Googling is one of my favorite things to do.  I google everything and everyone!

According to Google, the search for the “buy Bitcoin” term on the world's largest source of information platform is a strong trend.  Below is a search for the last 12 months.

Though the particular factors that may be driving the rising interest has not yet been ascertained, Google analytics show that interest is increasing.  

Who is googling? The graph below is from Google Trends.

It seems that the world is taking this crypto-currency seriously.

BitCoin Will Replace the Swiss Bank Account!

Will Bitcoin Become the new "Swiss Bank Account"?

     

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Swiss bank accounts have been sought after by some wealthy Americans as a safe haven to hide assets off shore and to reduce their tax liability, with privacy protection and anonymity. But over the past year or so, U.S. regulators have clamped down on using Swiss bank accounts by American citizens, and have won some legal battles forcing Swiss banks to reveal the identities of their American customers. This may lead some Americans to seek alternative ways to store value in a secure, private manner ... and Bitcoin may be one ready solution. 

Finding a BitCoin ATM Near YOU & How to Use it!

BitCoin are the most popular of the digital currency out in the world today ... and while not yet mainstream it certainly has people buzzing.

How can you get a hold of some of this crypto-currency?  BitCoin ATM's are popping up everywhere and are "easy peasy" to use ... just watch Benny buy and sell BitCoin right here:

Where can I find one of these ATM's ... check out the graph below and click on the picture to go to the scroll-able link

Every ATM unit charges a commission and it varies, so make sure you’re aware of the fees before beginning. The map above also allows you to search for Altcoin ATMs if you want to buy/sell other cryptos.

Total Bitcoin Transaction Volume Surpassed $100 billion in September 2016

It is remarkable to see how far Bitcoin has come along compared to eight years ago.

People seem to collect all kinds of statistics related to the Bitcoin protocol. Interestingly enough, one of the currency’s largest milestones was overlooked by just about everyone. On September 2nd, 2016, the Bitcoin blockchain surpassed the S$100bn mark in Bitcoin volume transferred since its inception. Quite an achievement for this “niche market,” and hopefully, a sign of better things to come.

A Year Long Trip Around the World — Using Only Bitcoin

The Great Debate ...

A Year Long Trip Around the World — Using Only Bitcoin

By Tania Karas August 18, 2015

Felix Weis paragliding in Turkey while holding a coin engraved with the bitcoin symbol. 

Weis paid for the outing in bitcoin. (Photo courtesy Felix Weis)

TEL AVIV, Israel — Felix Weis has gotten used to blank stares anytime he tries to pay for something. Since January, the 28-year-old freelance computer programmer from Luxembourg has been on a trip around the world using only bitcoin.

Most store clerks, bartenders and tour operators he’s encountered have never heard of the virtual currency. But that is what Weis intended. He is targeting ordinary people rather than tech geeks who already understand it.

“Bitcoin is the most exciting global socioeconomic experiment right now,” Weis said. “I really believe in it.”

As proof of his devotion to the six-year-old currency, Weis converted all his money into bitcoin and cut up his credit card. He carries the two halves in a clear plastic bag for anyone who doubts his seriousness.

BitCoin News - Can Twitter Make BitCoin Easier to Use?

Can Twitter make bitcoin easier to use?

Nov. 1, 2016 | by Bradley Cooper

It is no secret that bitcoin has not been able to gain mainstream acceptance. Although the reasons for this are numerous — it has a reputation of being seedy and volatile —  one of the biggest reasons is its high learning curve. At the bare minimum, users need a good bitcoin wallet, a secure password for that wallet and a bitcoin address to send bitcoin to someone else. Several companies have attempted to make the process easier with bitcoin ATMs and apps, and one company —  iPayYou —  has created a new method to let users send bitcoin through Twitter.

BitCoin Info - Where Will a Dead Man's Bitcoins Go?

This article brings up a great question ... 

Where Will a Dead Man's Bitcoins Go?

Author Iyke Aru

                                                                                                                       Picture by CoinTelegraph

It is a thin line between the adequate security of personal wealth within the crypto world and an eventual inability to transfer such wealth to heirs or other beneficiaries when the need arises.

The transfer of ownership of Bitcoins or other cryptocurrencies from its original owner to heirs in the case of eventuality is a matter that hasn't been properly defined within the crypto environment.

Who really owns the Bitcoins?

Creating Cryptocurrency: A Crash Course on Mining Bitcoin

Creating Cryptocurrency: A Crash Course on Mining Bitcoin

By Tyler Lacoma — October 29, 2016 7:00 AM

CHOOSE YOUR HARDWARE

The heart of bitcoin mining is the bitcoin miner or mining rig, which is essentially a separate computer that handles all the mining work. A quick glance at the Amazon listings for bitcoin miners will show you that there are many, many types of miners that span a host different shapes and sizes. If you have the tech skills, you may also be able to build your own.

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Swiss Rail Operator to Sell Bitcoins at Ticket Machines

Customers can trade Swiss francs for the digital currency.

Reuters

October 29, 2016 6:50am

Switzerland's national railways firm SBB is branching out next month with the launch of a new service on its ticket machines to sell bitcoins, the web-based digital currency.

Beginning November 11, customers will be able to trade Swiss francs for bitcoins using the ticket machines in a two-year experiment that will test Switzerland's appetite for the cryptocurrency, the state-owned company announced on Friday.

"There have been few possibilities to obtain bitcoins in Switzerland until now," SBB said. "With its 1000-plus ticket machines, SBB operates a dense, around-the-clock distribution network that's suited for more than just ticket sales."

SBB is working with Zug-based digital payments firm SweePay to allow customers to top up their digital 'bitcoin wallet' accounts by mobile phone.

SBB will act as distributor, while the exchange will be performed by SweePay and require users to hold an account with a wallet service that allows storage of the digital currency.

Bitcoin is known for allowing users to move money across the world quickly and relatively anonymously but, on the Swiss ticket machines, users won't be able to procure it without a trace: customers will need to identify themselves using a Swiss mobile phone.

While bitcoins can be purchased, they won't be accepted as payment at the machines, meaning ticket revenues will be unaffected by changes in the bitcoin exchange rate.

Bitcoin Might Soon Replace Physical Currency to Pay For College

Pay your school tuition in BitCoin ... why not?

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The first university to adopt the use of Bitcoin is the University of Nicosia in Cyprus. It started accepting Bitcoin as a mode of payment as part of their marketing strategy in promoting a new degree program, Master of Science in Digital Currency. One of the program's subjects tackle the use of Bitcoin and it is just apt to allow its student to use it in paying for their tuition. The publicity stunt worked and attracted international media. Since then, more and more universities are following suit.

Another forward-thinking university that accepts Bitcoin as a payment is the King's College in New York City, a private college known for its degrees in liberal arts. Founded in 1938, the university explained that their decision to accept Bitcoin as a payment was influenced by the U.S. Bill of Rights and the Constitution which support the empowerment of individuals. By doing so, students will have more avenues to use thus, easing the debt problems which a lot of students have been facing.

The University of Cumbria in the UK said they were willing to accept Bitcoin payments from students enrolling on two courses linked to the study of complementary currencies and cryptocurrencies. One course led to a certificate in sustainable exchange. The other gave students a post-grad certificate in sustainable leadership. This meant the university was the first public university to let students use Bitcoin to pay for their tuition fees.

With more and more universities opening their doors in accepting cryptocurrencies, it won't be long before others will follow suit. For those who are planning to take a master's degree program, it will also help if you check if there are other universities accepting Bitcoin and other similar cryptocurrencies.