^  Barring any hidden injuries, it could be a good time to bet heavy on Thompson then...  I wanted to go for it yesterday but I could pull the trigger.  

Edit:  And of course when I finally decide to make the bet Thompson is at 1.82 and Till at 2.07.  Meh.

Bellator is giving tailor made easy fights for MVP and he needs to fight some top contenders now to show he is a serious contender rather than giving him opponents to show his highlight reel finishes.

I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks

May has not been a good month for Emerging Markets in general, but perhaps none (other than Turkey now) were hit harder than Argentina which raised rates to an astonishing 40% in an effort to defend massive capital flight and the crash in its currency as IMF bailout hope is all that remains - aside from Franklin Templeton's global bond fund.



But as the BCRA and Argentine government desperately shore up confidence in their collapsing currency, NewsBTC.com's Tim Copeland reports that Argentine bank, Banco Masventas (BMV), has revealed a partnership with Bitex to allow customers to make cross-border payments in Bitcoin.

They aim to utilise Bitcoin as a low-fee cryptocurrency which can be transferred across borders and easily exchanged for fiat currencies.

BMV said in a statement:

“The service allows you to reduce costs associated with international transfers as there are no international banks as intermediaries. The logistics solution allows for a reduction in the time it takes to send or receive transfers up to a maximum of 24 hours. Bitex has a wide network of partners that enables international transfers to more than 50 countries.”

Bitcoin enables transfers to be made without using third parties and does not rely on any trusted parties. Instead, it uses a network of nodes that validate transactions and uses incentives to ensure that the network operates accurately. It also uses cryptography, such as hash functions, to ensure that only the person who holds their Bitcoin can spend it as well as providing a public ledger to ensure accountability.

Bitex is a blockchain-based financial services provider for both individuals and institutions. They help to create logistics solutions which allow for payments to be made between multiple countries. Bitex are self-regulated, but follow compliance and KYC rules. They have also hired Deloitteservices to fulfil audits on the company’s operations and holding of funds.

U.K. bank Santander has continued their move into the blockchain ecosystem by announcing their new app One Pay FX which uses Ripple technology in April. The app was launched in Spain, the U.K., Brazil, and Poland and is designed to make cross-border payments in a matter of minutes. It runs on xCurrent, a payment solution provided by Ripple Net but does not exclusively use XRP which is associated with Ripple. XRP is used by xRapid, another solution, and has been successfully trialled by Mercury FX.

Ripple have targeted banks and, specifically, cross-border payment providers and argue that XRP can save costs and deliver faster transactions than using SWIFT or Bitcoin. This move by BMV shows a preference for the number one ranked cryptocurrency by market cap instead of XRP which is aimed at being used by banks.

Should Bitcoin Be Used by Banks?

Many token holders will welcome real-world integration as an increase in use of a coin usually leads to an increase in price. However, Bitcoin was initially set up in a libertarian environment which was hostile to banks. In fact, the Bitcoin’s genesis block contains an extract from the Times which references the 2008 financial crisis. Bitcoin is also pseudonymous which makes it harder for governments to keep track of payments and users.

In this partnership, we have an example of a low-fee cryptocurrency being used by a bank which is then charging 3% plus VAT for the service. This means that the bank is profiting from the low fees that Bitcoin offers. On the other hand, BMV did suggest it has passed some of the savings on to the customer. Instead of going through a bank, users could set up their own wallets and send transactions without using a bank, but novices may find this risky as mistakes can happen.

*  *  *

The question is - will this enable BMV customers to get around any future capital controls enforced by the government should this currency collapse turn even more crisis-er?[/b]

https://www.zerohedge.com/news/2018-05-23/argentine-bank-use-bitcoin-cross-border-transactions

Wandering the streets of Shanghai to admire the architecture, the head of one of the largest U.S. consumer banks recently found himself surrounded by a gaggle of teenagers.

Entranced by their phones, they hardly made way for the banker. The teens were messaging, shopping and sending money back and forth, all without cash. Instead, they were using Alipay and WeChat.

The scary thing for the American: Banks never got a cut.

The future of consumer payments may not be designed in New York or London but in China. There, money flows mainly through a pair of digital ecosystems that blend social media, commerce and banking—all run by two of the world’s most valuable companies. That contrasts with the U.S., where numerous firms feast on fees from handling and processing payments. Western bankers and credit-card executives who travel to China keep returning with the same anxiety: Payments can happen cheaply and easily without them.

Chinese vs. U.S. Payment Systems
Americans more typically involve banks and cards when paying with apps



Alibaba Group Holding Ltd. created Alipay in 2004 to let millions of potential customers who lacked credit and debit cards shop on its vast online marketplace. Tencent Holdings Ltd., similarly, debuted its payments function in 2005 in a bid to keep users inside its messaging system longer.

Alipay and WeChat have since swelled in popularity, boasting 520 million and 1 billion monthly active users, respectively. Consumers sent more than $2.9 trillion inside the two systems in 2016, equivalent to about half of all consumer goods sold in China, according to the payments consultancy Aite Group.

In contrast, U.S. consumers still rely on banks for most non-cash payments—whether it’s by check, debit, credit or a growing number of other payment systems tied to their bank accounts. Connected to that is a universe of wallets and payments systems operated by the likes of PayPal Holdings Inc., Apple Inc. and Alphabet Inc.’s Google. From the perspective of merchants, too much of the U.S. system siphons off enormous amounts of money.

Transaction Breakdown
In a typical $100 credit card purchase...



For now, no company in the U.S. commands the kind of clout that Alipay and WeChat wield back home. Instead, everyone is trying to replicate their success.

“This is going to be the battle of all time—like who dominates all those services—and it’s still not known,” Jamie Dimon, chief executive officer of JPMorgan Chase & Co., told his company’s investors in February. “Everyone wants to be the place that is the one place you go to do that.”

The nightmare for the U.S. financial industry is that a technology company—whether from China or a homegrown juggernaut such as Amazon.com Inc. or Facebook Inc.—replicates the success of Alipay and WeChat in America. The stakes are enormous, potentially carving away billions of dollars in annual revenue from major banks and other firms. What follows is a breakdown of what that could look like—theoretically—using the explosive growth as China’s apps as a rough guide.

Perhaps the clearest opportunity lies in siphoning off some of the fees that U.S. merchants pay to accept cards and mobile payments—about $90 billion a year, according to the Nilson Report, an industry newsletter. That money gets parceled out to card networks such as Visa Inc. and Mastercard Inc., payment processors and banks, which pocket the largest share.

In China, analysts expect third-party payment providers to earn about 40 percent of such fees by 2020. If apps were to start grabbing market share in the U.S. at roughly the same rate they did in China, it would take a $43 billion revenue bite out of a business banks count as among their most profitable.

Merchant Fees
Financial firms would lose billions if the U.S. embraces third-party apps at a rate like China’s



But that’s just one way that U.S. banks impose fees. They also generate revenue by dispensing cash. If payments apps were to replace paper money—as they have in many situations in China—another form of income could take a big hit.

Easy Money
Checking accounts generate about $3 billion in bank fees, which would dwindle if consumers embrace apps



Soon, U.S. bank executives won’t have to travel far to see China’s systems up close. Alipay, owned by Jack Ma’s Ant Financial, has spent the better part of the past year inking deals with payment processors that will allow it to bring its technology to America. Already, many New York taxis offer it as a payment option to customers.

So far, Alipay has said the expansion is meant to help Chinese tourists, and that it’s focusing on cities they tend to visit. But few in the payments industry believe it will stop there.

Meanwhile, Chinese consumers are starting to park more of their savings with the apps. In 2013, Alipay began offering money-market accounts. By last year, it had built that business into the world’s largest money-market fund with about $243 billion. For banks, that’s yet another bite. They traditionally hold customer deposits and use that money to fund loans—generating significant profits. If U.S. consumers were to start storing their extra cash with apps, banks would have to find an alternate—probably more expensive—source of funding.

Deposits
Even a relatively small bite to deposits would be a lot of money



To be sure, U.S. banks have formidable advantages on their home turf. They have longstanding relationships with their customers, many of whom still like ‘visiting their money’ at a local branch. Consumers love credit card rewards programs and other perks, which have gotten sweeter in recent years, as well as the ability to charge back purchases that don’t go well. And U.S. bank deposits are backed by the Federal Deposit Insurance Corp.

Still, banks and payment networks have a lot to lose if technology firms succeed in grabbing market share—and there are signs that Alipay and WeChat aren’t the only firms that may flex their muscles. Amazon is said to be interested in offering its own product to mimic checking accounts while offering to lower costs for retailers who use its online payments service.

“What happened in China was not an even playing field,” Al Kelly, Visa’s chief executive officer, said at an investor conference in March. “What I hope happens around the rest of the world as they migrate is that at least it’s an even playing field.”

https://www.bloomberg.com/graphics/2018-payment-systems-china-usa/

I'm not usually in this forum section but I'd like to know as I don't remember the name of that sport betting site anymore, I think they already close it. They even accept ETH, LTC and Doge when it was running.

People argue about bitcoin.  Is it a currency, or an investment? Is it a speculative bubble, or is it here for the long run? What about Blockchain technology?  One thing is certain. Bitcoin is plugging the holes of the archaic financial system and providing real solutions for current problems.  One problem it solves is the banking of the unbanked.

Global leaders everywhere call for the pursuit of sustainable growth.  Financial inclusion is critical to any effort raise people out of poverty.  The poorest countries in world are severely underbanked.  However, we are now seeing 90 percent digital mobile penetration in these unbanked areas. While these spots may not be able to access traditional banks, they can access the blockchain from their phones. We see the decentralized dawning of a new era in financial systems.

You don’t have to look halfway around the world to see the effects of under-inclusion. In the United States, the FDIC recently found that 27 percent of US households were unbanked or underbanked. After the 2008 recession, banks closed the least profitable branches across the country. This left gaps for rural Americans without access.  Online banking was supposed to fill some of these gaps, but the high number of unbanked families persists.  Internet connectivity in rural homes in difficult.

The unbanked both in the U.S. and globally face high fees that destroy their ability to save money.  Have you ever tried to cash a check at these so called “Check Cashing” businesses?  It is legalized highway robbery. Additionally, these poor folks often face insurmountable obstacles to obtain the credit that is needed to buy a home or start a business.

Bitcoin and other cryptocurrencies are the solution! Because of distributed ledger technology known as the blockchain, digital currencies require no trust between parties.  They cannot be counterfeited.  The entire transaction history is completely transparent and mathematically proven.  Bitcoin and other cryptocurrencies are a way for people and businesses to bypass the traditional banks and engage in direct commerce.  Any unbanked person with a computer or a smartphone now has the opportunity for greater financial inclusion!

Compared with the old archaic financial system, there are numerous advantages in cost and security. There are no fees to store wealth via bitcoin.  It takes very little time for funds to clear. The already low transfer fees for crypto continue to drop as the network protocols become more efficient, and the flat fees are the same regardless of the amount transacted or location of the recipient.  Instead of waiting days for transferred money or paying high fees to cash checks, blockchain allow for the seamless flow of payments.  This creates tremendous opportunities for people to access micro-lending.

The internet is a $4.2 trillion global economy.  If it were a country, it would be one of the five largest economies in the world.  Doesn’t it make sense that the digital economy would have its own currency?  Shouldn’t we remove physical barriers of exchange?  Companies like Walmart, Amazon, Kodak and Starbucks are set to explore blockchain payment systems.  It seems that no company in the world want to be left out of this growing opportunity.

America is at the crossroads, and hopefully the world stands with us. Some feel that we must regulate cryptocurrency, this could stifle innovation and slow growth. Many regulatory bureaucracies are products of the existing archaic system and fear they will be replaced by the new blockchain technology.  The U.S. guides the financial markets.  Regulatory harmony is extremely important.
Archaic banking systems have served us for decades, but they fail to include many people. We must stand for innovation and freedom!  Bitcoin must work without excessive government interference!  We are obligated to help the unbanked and the poor around the world.  They should be allowed the inclusion Bitcoin and crypto provide.  

City launching new initiatives to support growing blockchain industry

NYC’s blockchain industry has received nearly $200M in funding in 2017, blockchain job demand has increased by over 800% since 2015

Investing in emerging industries is critical part of Mayor de Blasio’s job growth strategy

NEW YORK - Kicking off CoinDesk’s annual flagship Consensus conference as the opening keynote, NYCEDC President and CEO James Patchett today announced plans to plant a flag in New York City’s growing blockchain industry. In the coming months, the City will launch two initial efforts to build a foundation around the technology and position New York City as an accessible center for blockchain innovation.

In an effort to serve the needs of the fast-growing industry, NYCEDC will launch the NYC Blockchain Resource Center. The center will serve as a physical hub for the industry, building public awareness for blockchain technology through education, and connecting entrepreneurs to business support, mentorship, advisory services, and a community of peers to help them launch and scale new ventures.

The center will also convene industry stakeholders, government, consumer advocates, and investors to begin a conversation around how New York City can create a regulatory environment that will support both consumer safety and innovation.

To catalyze blockchain innovation and source government use-cases for the technology, NYCEDC will also launch a public blockchain competition. Built on the foundation of the City’s successful NYC BigApps contest, the City today released a request for proposals (RFP) for an organization to operate a public competition aimed at developing blockchain applications that help improve public sector services and processes. The competition will include a series of workshops to educate those in government about blockchain and identify meaningful use cases to solve challenges like security, efficiency, and turn-around-times for government services. There will also be free educational workshops to teach the public about the technology and source ideas.

NYCEDC expects the blockchain competition to launch in late 2018.

“There’s no city in the world that’s better positioned to lead the way in blockchain,” said NYCEDC President and CEO James Patchett. “We’re a global leader in finance, real estate, media, and tech – all industries seeing incredible innovation from this new technology. The City is putting a big focus into blockchain to find out how we can grow the industry and make sure it’s creating great opportunities for New Yorkers.”

"We're excited that we get to kickoff our Consensus conference with this news, and are pleased to be partnering with the NYCEDC on the first Blockchain industry job fair as well as supporting their efforts to make NYC the next great hub of innovation," said Kevin Worth, CEO of New York-based CoinDesk, the leading global blockchain technology news outlet.

"There is an enormous potential for applications and growth of blockchain technology," said Council Member Paul Vallone, Chair of the Committee on Economic Development. "New York City has already positioned itself as a global leader in this field and initiatives such as this will ensure we remain on the forefront of this rapidly growing industry."

"The BigApps Blockchain competition and the Blockchain Resource Center are great opportunities for NYC's tech talent to explore the economic potential and job opportunities associated with this emerging technology. Thank you to the EDC and all our partners for working to open the door to new resources for NYC's tech community to continue to innovate," said Council Member Peter Koo, Chair of the Committee on Technology.

"The New York City Economic Development Corporation's support of blockchain technology will go a long way in cementing New York’s position as the financial capital of the 21st century. Blockchain applications have the opportunity to revolutionize the way we conduct business and government. I look forward to continuing partnerships between this burgeoning industry and the public sector as we work to foster new businesses and promote the wellbeing of all New Yorkers," said NYS Assembly Member Ron Kim.

"The blockchain industry is booming in New York, and with these new initiatives, the NYCEDC is seizing on its potential to revolutionize the way we do business and create new jobs in the process," said Julie Samuels, Executive Director of Tech:NYC. "Blockchain technology promises to have real impact on all kinds of businesses and sectors, and it's key that all stakeholders—government, entrepreneurs, technologists, and existing industries—work together to get it right. That is, after all, what we do best in NYC."

“I'm thrilled to see our local government committing to invest in programs that will yield both high-paying jobs and also improved city services for all New Yorkers, cementing our position as a diverse leader in this transformative new industry," said Andrew Hoppin, co-founder of the New York Government Blockchain Association and CEO of blockchain tech startup CoverUS.

“The Global Blockchain Business Council (GBBC) welcomes and supports NYCEDC’s announcement to advance blockchain technology for New Yorkers, particularly, for its most vulnerable citizens. Together, we will build bridges, help educate and create real job opportunities for NYC as this technology grows and becomes the next trillion dollar industry,” said Sandra Ro, CEO, Global Blockchain Business Council (GBBC) and former Executive Director, Head of Digitization, CME Group.

“NYCEDC plays a critical role in the next generation economy for the city, the country and the world. Blockchain, digital ledger and emerging technologies, as a whole, are driving transparency in our society and in our industries. We have to prepare current businesses for these inevitable changes, and the new generation of leaders that will drive a more abundant and inclusive economy,” said Maja Vujinovic, CEO, OGroup.

A blockchain is a public ledger that verifies, secures, and stores data across a decentralized network of computers. This enables users to exchange data in a transparent and secure manner without relying on a centralized authority or middleman. The new technology has led to innovative solutions that help with tracking products, verifying identities, sharing property titles and legal documents, and media attribution, among many others.

Coindesk, the leading digital media, events and information services company for the crypto and blockchain community, has partnered with NYCEDC to launch Blockchain Week NYC to boost blockchain-related employment opportunities in New York, but also establish New York City as a growing center for the blockchain community. As part of Blockchain Week NYC, NYCEDC and CoinDesk will co-host a first-ever Blockchain Job Fair, a free event open to any member of the public. Taking place at the end of Consensus 2018 on May 16th from 2-5PM, companies exhibiting at the job fair include IBM, Accenture, Deloitte, ConsenSys, Ripple, KPMG and Ledger.

Blockchain is a growing sector in New York City with the potential to create thousands of good jobs. Blockchain job postings increased by more than 800% between 2015 and 2017, according to Burning Glass. In 2017, venture capital investments in New York City-based blockchain businesses grew to over $199 million.

New York City’s anchor industries play a critical role in the evolution of blockchain technology. For example, financial services accounts for 30% of established blockchain use cases, according to a recent Cambridge study. Emerging use cases in finance, media, insurance, health care, and real estate, are all fueling a shift in some of New York City’s most vibrant industries.

Blockchain Week and Grow NYC Hackathon

As part of Blockchain Week NYC, NYCEDC and GrowNYC co-sponsored a hackathon on May 12-13, challenging technologists to use blockchain technologies to create solutions that improve trackability and transparency of the City’s GrowNYC food supply chain, tracking food from farm, to warehouse, to retail outlet, to consumers, especially those in our underserved neighborhoods.

An estimated 750,000 New York City residents live in “food deserts” with few or no supermarkets, and studies show that residents in these areas experience higher levels of obesity and malnutrition. As part of the City-sponsored hackathon, NYCEDC and GrowNYC are asking technologists to explore how blockchain can be used to track and ensure that fresh, local produce is getting to New Yorkers in every neighborhood across the five boroughs.

As outlined in Mayor de Blasio’s New York Works plan, the City is continuing to find new opportunities to invest in emerging industries with high growth potential. In addition to its initial blockchain investments, the City is also making efforts to grow New York City’s VR/AR, cybersecurity, and life sciences industries, among others.

 

About NYCEDC
New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.

https://www.nycedc.com/press-release/new-york-city-launches-first-blockchain-initiatives

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