Use Virwox to buy Bitcoins
Getting hold of bitcoins has not always been so easy with security concerns and privacy issues in the past. However now that bitcoins are becoming more widespread and accepted it will become easier to buy bitcoins. Here is a step by step instruction how to buy bitcoins with credit card.
Virwox was set up as a virtual currency exchange website originally to trade Second Life Lindens (SLL). As you have probably found out it is difficult to find many places to buy bitcoins with credit or debit cards but following these steps you can. read more
I haven’t posted any videos lately but here’s a good one from our friends at Vice all about bitcoin.
Coinbase, one of the biggest Bitcoin providers in the world, recently announced the completion of a huge financing deal worth $75 million last Tuesday, January 20, 2015. This is so far the biggest known investment on a startup Bitcoin company up till now. The investment, led by venture capital firm DFJ Growth, was also participated by three industry investors, namely the New York Stock Exchange, USAA Bank, and multinational bank BBVA. The San Francisco-based startup company, which first reported the deal in November last year, revealed that the financing round was actually completed in the middle of December 2014. Total investments are even expected to reach $400 million or more with the support of other investors like Japanese telecom company NTT DoCoMo, Andreessen Horowitz, Union Square Ventures, and Ribbit Capital. read more
Bitcoin is on a free fall right now. Can anybody catch it for God sake! Just when we thought Bitcoin is going to have a good year this 2015, it looks like there are a lot of issues now that need to be addressed as soon as possible.
Created by someone with the pseudonym Satoshi Nakamoto in 2008, Bitcoin was considered as one of the most promising currencies. More people around the world traded it for real money. It’s even thought to possibly make dollar obsolete. This is mainly due to the fact that it’s limited in supply, hard to earn, and easy to verify. Like gold, it’s not easy to acquire as it requires a lot of complex mathematical problems to be solved. The more “miners” are there to look for answers, the more the problems get difficult to solve. That’s how it is and that’s why there are a lot of businessmen who’ve invested on supercomputers. The first miner to answer the mathematical puzzle gets 25 bitcoins which is obviously going to be a lot of money. However, the drastic depreciation of Bitcoin’s value in the past few days is very alarming. In fact, it has dropped 36% of its value in the past two days only, from $269 in January 13 to $172 in January 15. read more
Last January 5, 2015, news about a huge cryptocurrency hack broke down when Bitstamp‘s more than 19,000 units, worth about $5.1 million, went missing. This prompted the UK-based Bitcoin exchange to temporarily halt all services and user transactions like deposits and withdrawals. They assured their customers though that all bitcoins held before the incident are safe, because they are covered by insurance. This is a huge setback not just for the exchange, but for the Bitcoin community, in general, as it’s gone a long way of reviving the value of the virtual currency. Unlike cash stolen from banks that are largely untraceable, movement of bitcoins can be tracked. Every transaction made has a record created on the blockchain. Hopefully, this can shed some light on the whereabouts of the bitcoins and the perpetrators. read more
BitPay has become a full-fledged football sponsor last December 26, 2014 by staging its first ever St. Petersburg Bowl game between North Carolina State Wolfpacks and the University of Central Florida Knights. The game was a huge success for the world’s largest bitcoin payment service provider as it attracted around 3.3 million viewers. In fact, game coordinator Ashley Wheeler claimed there were over 100 vendors accepting bitcoin payments in the area throughout the game. This is definitely how BitPay envisioned the event would be when it first announced its sponsorship, along with ESPN Events, as early as June 2 this year. Wolfpacks beat the Knights, 34-27. read more
Bitcoin has again scored bigtime this 2014 with Microsoft and Dell as two of the newest companies to now accept cryptocurrency as a payment method. Earlier this month, December 11, Microsoft announced its decision to accept purchases in the Microsoft Store using bitcoins. It specifically assigns BitPay, the leading Bitcoin payment processor worldwide, to facilitate the trade-in of the virtual currency at its current market value.
Eric Lockard, Microsoft’s Universal Store vice president, lauds the move saying it’s primarily aimed at giving consumers flexibility in terms of payment and other online transactions. While the use of Bitcoin may not be on the mainstream yet, he acknowledges that its growth has gone beyond customers who’ve adopted it in its early years. Dell, for its part, also announced the acceptance of Bitcoin on technology purchases performed on their website. read more
Bitcoin, which drew its roots in 2008, is a decentralized, software-based online payment system. Often referred to as a cryptocurrency, bitcoin has gone a long way from being a virtual currency into a trusted form of payment for various products and services.
While several big companies in the US like Amazon and PayPal have already embraced the legitimacy of bitcoin as a payment method, Australia is just not ready yet. There’s still a big question among their lawmakers on how bitcoin is to be treated, despite its known advantages like low fees, payment flexibility, and anonymity. In fact, the Australian Tax Office has dismissed it as a form of currency last August this year, thus forcing cryptocurrency startups to instead explore other countries. read more
The automatic bitcoin teller machine in Queensland was seized during an investigation concerning drug trafficking network which was linked to Bandidos bikie gang. Police were able to seize the ATM after a serious investigation through joint raid as well as custom officials at Roastery café which is located in South Brisbane.
After the arrests, police pointed out that the café has been one of the commercial multimillion-dollar networks for trafficking methamphetamine headed by a suspected former gang leader of the Bandidos Brisbane Centro chapter. According to police, they are yet to find out if the transactions by bitcoin which the café has accepted played any of the criminal acts after the installation of the machine in May. According to Mick Niland a Superintendent, the alleged trafficking is being checked by a group of computer experts who are busy examining the machines forensically. read more
Braintree, a subsidiary firm of Paypal, has finally announced that it will establish a partnership with the bitcoin payment platform Coinbase, for allowing bitcoin payments through Paypal. This announcement comes after many weeks of rumors. Coinbase is one of the largest bitcoin payment platforms. These two partners will work together in the following months for allowing full bitcoin integration. read more
Braintree already manages payments for its clients like Reddit and Overstock. The CEO of Braintree, Bill Ready, has declared at the Techcrunch Disrupt conference in San Francisco that Paypal takes measures to embrace bitcoin. The partnership will help firms that already use Braintree for payments to embrace bitcoin in the following months. This step will be possible without any configuration changes and will encourage the adoption of cryptocurency.
Canadian Employees receiving bitcoin payments
A Waterloo, Ont., payroll company reports a surprising development. According to the firm, an increasingly number of workers prefer Bitcoin to the Canadian dollar.
Shrad Rao, the Wagepoint CEO said his firm introduced the cryptocurrency payment platform towards the end of last year as a side project but never expected any adoption. However, with the growth in the popularity of the online currency this year, the CEO said, employees from 10 companies have registered for the Bitcoin platform and more are inquiring about it. read more