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61  Bitcoin / Press / [2016-11-11] One Percent of US, Chinese Digital Shoppers Pay Online With Bitcoin on: November 11, 2016, 07:30:02 PM
Despite the large concentration of Bitcoin and other cryptocurrency related activities in China, a new report suggests that a tiny proportion of online shoppers in the world’s most populated country use the top digital currency.

The study, based on a 20-minute digital survey with a nationally representative sample of 1,000 online digital shoppers ageing 18+ in the U.S. and China, conducted between Sept. 19 and Oct. 12, 2016, says credit cards, online payment services and mobile wallet still tops the list of the most used online payment method by device among US and Chinese shoppers respectively by a large margin.

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62  Bitcoin / Press / [2016-11-11] Italian Taxi Firm Now Accepts Bitcoin on: November 11, 2016, 01:56:44 PM
Italian Taxi Firm Now Accepts Bitcoin

Italy’s biggest taxi firm, Cooperative RadioTaxi 3570, announced earlier this month that it is now accepting the digital currency, bitcoin, as a form of payment to its customers, according to

With 3,700 cars in the capital of Italy, answering 30,000 calls a day, and providing more than 10,000,000 taxi services throughout a year, it is the biggest taxi firm in Europe. This announcement further expands the companies reach at a time when bitcoin’s growth shows no signs of slowing.

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63  Bitcoin / Press / [2016-11-11] McAfee: Security is Key to a Bitcoin Future on: November 11, 2016, 12:23:36 PM

Technology pioneer and founder of the anti-virus product, John McAfee, has claimed that there is a need for a major shakeup in cryptocurrency security to prevent the virtual money world from crumbling.

This is despite his view that there will be a cryptocurrency standard for the world soon whether governments like it or not and tracking money flow would be difficult as well as the irony created by cryptocurrencies being powered by blockchain – considering its various real-world use cases in various sectors – as a system built to give anonymity also being used to identify.

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64  Bitcoin / Press / [2016-11-11] MGT Capital completes second phase of bitcoin operations on: November 11, 2016, 11:11:16 AM
MGT Capital Investments, Inc. announced that it has updated its shareholders and implemented the successful completion of second phase of its bitcoin operation in central Washington State, ahead of its schedule.

The release stated that the company has delivered the phase two metrics ahead of schedule, and has expanded the processing power of its bitcoin operations to over five PetaHash. The move would place MGT as a leader in the U.S. bitcoin mining network.

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65  Bitcoin / Press / [2016-11-11] Bitcoin May Gain Regulatory Approval From Malta Gaming Authority... on: November 11, 2016, 10:01:51 AM
Bitcoin May Gain Regulatory Approval From Malta Gaming Authority Soon

Important weeks are ahead for the future of Bitcoin as a global currency. The Malta Gaming Authority is looking into officially recognizing Bitcoin as a currency, which would be a significant step forward for online gambling. Rumors regarding this possibility have been floating around the internet for quite some time, but it looks like things are on the verge of being formalized.
Malta Gaming Authority Takes Bitcoin Seriously
It is positive to see the Malta Gaming Authority take a closer look at bitcoin and how it can affect the future of [online] gambling. Multiple casinos around the world have started accepting cryptocurrency deposits for online gambling, although there is no official regulation related to doing so. This causes quite a few platform operators to hold off on embracing Bitcoin until proper guidelines have been established.

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66  Bitcoin / Press / [2016-11-11] The Government of India Should Support Bitcoin to Create a Cashless on: November 11, 2016, 09:48:39 AM
The Government of India Should Support Bitcoin to Create a Cashless Society

This Tuesday Indian Prime Minister Narendra Modi announced without prior warning that high-denomination rupee notes are to be demonetized. Going cashless is the government’s attempt at a cure for corruption and “the disease of black money,” as unreported (and therefore untaxed) income is referred to in India.

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67  Bitcoin / Press / [2016-11-11] A Major Korean Bank Will Soon Launch a Bitcoin Remittance Service on: November 11, 2016, 09:35:41 AM
Shinhan Bank, one of the largest financial institutions in South Korea will begin a remittance service – backed by bitcoin – between Korea and China, starting next month.

The Korea-China corridor will soon see the bitcoin remittance service made possible through Hong Kong as an intermediary, a country where digital currency transactions are legally allowed, according to Korean news outlet Pulse.

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68  Bitcoin / Press / [2016-11-11] Bitcoin startup Zebpay in talks to raise funds on: November 11, 2016, 06:51:25 AM
Zebpay, a bitcoin exchange platform and mobile wallet, is in talks to raise $3 million (Rs 20 crore) to upgrade its servers and enhance its security in order to handle large trade volumes.

US-based Pantera Capital, a bitcoin investment firm, will be part of the funding round but it will be led by an India-based venture capital firm, Saurabh Agrawal, chief executive and co-founder of Zebpay told Techcircle.

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69  Bitcoin / Press / [2016-11-11] UAE Bitcoin Conference Aims to Make Mid-East a Fintech Hub on: November 11, 2016, 06:30:13 AM
ABU DHABI, United Arab Emirates — The Bitcoin Conference Abu Dhabi organizers hope to make the UAE a center for fintech, Bitcoin and blockchain innovation in the Middle East with its upcoming conference in Abu Dhabi on December 8, 2016.

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70  Bitcoin / Press / [2016-11-11] India Becomes No.2 Bitcoin Amazon Buyer Amid Rupee Shake-Up on: November 11, 2016, 05:49:03 AM
India Racing Up BTC Charts

The nature of Indian commerce at non-official level, dealing in cash and mobile-based micropayments, has made it fertile ground for Bitcoin startups.

Kenya is often referred to as the African success story due to its leapfrogging traditional banking penetration. Likewise, India is already showing huge potential for bitcoin to empower citizens.

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71  Bitcoin / Press / [2016-11-10] IRS Report Validates Bitcoin as a Common Method of Exchanging Value on: November 10, 2016, 06:55:37 PM
A new report by the IRS has many Bitcoin users concerned right now. According to the document, there is no clear plan in place to address bitcoin taxation, should that ever become a factor. It is evident there are still a lot of misconceptions surrounding Bitcoin and the lack of coordination between different branches of the IRS is not helping matters either.

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72  Bitcoin / Press / [2016-11-10] The latest advances of Bitcoin into the online gaming industry on: November 10, 2016, 06:52:33 PM
Bitcoin is often spoken about within the tech industry, as there are often new advanced and applications of Bitcoin that are being discovered. Bitcoin is a crypto-currency. This means that it is an international virtual currency that is not controlled by a national reserve bank. One of the latest and greatest uses and applications for Bitcoin have been in the online gaming industry. More and more online gaming platforms are allowing their customers to use Bitcoin as a form of payment. There are many advantages of using Bitcoin as your currency of choice when paying for online gaming services, here are some of them.

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73  Bitcoin / Press / [2016-11-10] Like Gold, Bitcoin is Becoming the Ultimate Safe Haven Investment on: November 10, 2016, 06:36:21 PM
The relative stability of Bitcoin during periods of geopolitical uncertainties has allowed the digital currency to be considered by investors as a safe haven for the preservation of their wealth.

Two major events in 2016 that quickly come to mind when considering the geopolitical risks borne by holders of fiat currencies, stocks, commodities and other financial elements are Brexit and the US elections. The fallout from these events saw the nations’ currencies and stocks plummet within very short periods of time.

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74  Bitcoin / Press / [2016-11-10] How Two New Sidechains Proposals Could Change Bitcoin's DNA on: November 10, 2016, 06:01:15 PM
A long-proposed bitcoin feature called 'sidechains' may soon take a big step forward thanks to a pair of proposals.

The idea behind sidechains, most associated with the startup Blockstream (whose team boasts its originators), is to make it easier to add new features to bitcoin, something that's proven difficult in the past due to bitcoin's design.

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75  Bitcoin / Press / [2016-11-10] With a big spike after the election, is Bitcoin officially the ... on: November 10, 2016, 05:57:58 PM
With a big spike after the election, is Bitcoin officially the new gold?

In an early sign that investors were looking for a hedge for their funds in the wake of Donald Trump’s surprising victory in the U.S. presidential elections, the price of the digital currency Bitcoin spiked as the election results came in. The rise in Bitcoin pricing was part of an overall flux in the world’s economy. As futures on the Dow fell by nearly 800 points, coupled with the Standard and Poor’s 500 falling five percent, circuit breakers designed to halt trading during wild swings on the market were triggered.

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76  Bitcoin / Press / [2016-11-10] Bitmain Reveals Plans for Major Bitcoin Mining Data-Center in ... on: November 10, 2016, 05:54:22 PM
Bitmain Reveals Plans for Major Bitcoin Mining Data-Center in Northwestern China

Beijing-based Bitcoin ASIC hardware producer and mining giant, Bitmain, announced on November 5 that it’s in the process of building a major data center complex in the northwest of China. The company says the facility will be capable of consuming up to 135 megawatts of power and is set to become the second largest data center in the world.

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77  Bitcoin / Press / [2016-11-10] Banks continue to freeze the accounts due to their binding to btc on: November 10, 2016, 03:04:14 PM
Banks continue to freeze the accounts due to their binding to bitcoin

It would seem that already in 2016 – a year of steady ascent of bitcoin, its recognition around the world, in some countries, and at the state level, the problems with its adoption should arise. However, as practice shows, banks freeze accounts of owners without adequate explanation is not the first time.
A couple of years ago, banks have frozen the accounts of the cryptocurrency community in Poland. In the fall of 2015 accounts, more than ten of the Australian stock exchanges were closed by the banks without adequate explanation, and in October 2016 in Britain, Barclays Bank without explanation and preliminary comments froze the accounts of the online magazine Coinjournal, which is dedicated to the cryptocurrency. On the same Bank, complaints were received in the transaction associated with cryptocurrency. In the spring of 2016, the Bank entered into a contract with Circle. The application was started, to perform a transaction, converting sterling into the cryptocurrency.

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78  Bitcoin / Press / [2016-11-10] Major Franchise Installs 11 Bitcoin ATMs in Cafes Across Canada on: November 10, 2016, 02:46:24 PM
Prominent Bitcoin ATM operator BitNational, has installed its signature two-way Bitcoin ATMs in the headquarters and branches of Waves Coffee House, a major franchise founded in 2005. The corporation operates 38 cafes across British Columbia and Alberta, and was selected by over 1,500 coffee retailers as the “best of brands” in Canada.

As Bitcoin progresses towards mainstream adoption, major corporations and established institutions are attempting to familiarize its employees and customers with the leading global digital currency.

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79  Bitcoin / Press / [2016-11-10] Blockchain Summer School To Be Opened In Zimbabwe on: November 10, 2016, 02:11:59 PM
Nov. 22-25, the first ever Blockchain Summer School will be opened in Harare, Zimbabwe.

The event intends to educate and explore the benefits of Bitcoin as well as stimulating discussions on the challenges that inhibit cryptocurrency adoption in Africa.

The event is organized by Bitfinance, a Zimbabwe-based Bitcoin exchange and infrastructure developer firm in collaboration with the Blockchain Academy. The target audience are local businesses that have been hit hardest by the current financial crisis in Zimbabwe.

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80  Bitcoin / Press / [2016-11-10] Is a Financial Scam Making its Way into Zimbabwe? on: November 10, 2016, 02:03:51 PM
Are Zimbabwe bond notes a scam?

According to Ken Yamamoto, the latest form of currency to strike Africa’s borders is nothing more than a corrupt scheme; a frivolous attempt to steal funds from impoverished families and place them in greedy pairs of government hands. Yamamoto writes:

“The people scamming you are not Robin Hoods, who stole from the rich to give to the poor. They are gluttonous perennial grabbers fattening their pockets knowing in your fear you can’t do anything.”

For the most part, Africa has been a mixed bag for currency innovation. On one hand, companies like Mint have joined with the Banque Regionale de Marches (BRM) to offer a new form of digital currency called eCFA to West African regions. Blockchain startup Custos Media Technologies has begun an anti-piracy campaign using bitcoin, and Bidorbuy (Africa’s equivalent of eBay) has begun accepting bitcoin payments.

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