Tag: Bitcoin

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J.M. Bullion Accepts Bitcoin (BTC)

Silver ingot and gold bullion. Finance illustration

One of the leading bullion companies in the United States, J.M. Bullion, a leading authorized bullion dealer based in Dallas, now accepts Bitcoin (BTC) as a form of payment. For those who are unfamiliar with the sector, bullion is gold, silver, or other precious metals in the form of “bars” that are typically used for market trading.

The value of a particular bullion is typically determined by the purity and mass of the material. Some of the base metals that are often traded are metals such as aluminum, copper, nickel, and more. There are various regulatory bodies that determine what is fair in terms of “purity”.

Accepting Crypto

J.M. Bullion’s own website proudly states that the company now accepts BTC. For those interested in the amount of BTC that the company accepts, it can range from a $100 order all the way up to a $250,000 order.

Payments made in Bitcoin might take up to one day to be received, and will immediately be converted to U.S. dollars, as well. For those interested in how the company processes payments, or what exchange rate the company will be using for BTC – they are using Bitpay as a Bitcoin payment processor.

Bigger Trend?

14664946 – the arrow of the diagram shows growth and success 3d render illustration

J.M Bullion acknowledges that the popularity of cryptocurrencies is growing, but emphasizes that at the time, they are only accepting BTC. They mention that they are already exploring adding other cryptocurrencies.

The company also emphasizes that orders cannot be cancelled, and that refunds can be made through Bitpay, which (of course) would depend on the price of BTC at the time that the refund was made.

Interestingly enough, the Winklevoss Twins compared Bitcoin to gold recently, stating that they believe that the market capitalization of the digital asset would eventually surpass the $7 trillion market capitalization of the global gold sector.

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Winklevoss Twins Think Bitcoin (BTC) Will Be Bigger Than Gold

There are many who scoffed at the Winklevoss Twins when they decided to take some of the payout from their Facebook lawsuit to purchase Bitcoin (BTC), but they have since become two of the most important figures in the cryptocurrency world. It appears that the decision was a wise one, considering that many believe that they actually became the world’s first Bitcoin billionaires during the cryptocurrency bull run of 2017.

It doesn’t appear as though their enthusiasm has faded, as the two clearly believe in a very bullish future for Bitcoin. During a recent Ask Me Anything (AMA) session on Reddit, the two brothers pointed out that they believe the future is still bright.

AMA Details

For those that are unaware, Reddit regularly holds “Ask Me Anything” sessions, where a user is asked questions from participants all around the internet. Cameron and Tyler Winklevoss – otherwise known as the Winklevoss Twins – recently participated in an AMA.

The two answered various questions, that mostly revolved around cryptocurrency. One of the reasons that they held the AMA could be the fact that the cryptocurrency exchange that they founded, Gemini, just celebrated its 3-year anniversary.

Bitcoin Bulls

Specifically, the Winklevoss twins believe that the importance and relevance of Bitcoin will only increase with time. Cameron Winklevoss stated: “Bitcoin is certainly the OG crypto! It’s hard to defeat network effects — so in terms of ‘hard money’ (i.e., store of value) Bitcoin is most likely the winner in the long term.”

Tyler WInklevoss took it a step further, comparing it to the fact that gold has a $7 trillion market capitalization. He believes that Bitcoin will eventually surpass gold in this respect. He said: “Our thesis around bitcoin’s upside remains unchanged. We believe bitcoin is better at being gold than gold. If we’re right, then over time the market cap of bitcoin will surpass the ~7trillion dollar market cap of gold.”

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Brazil Cryptocurrency Whales Turning To Physical Vaults/Safes

For those that are cryptocurrency “whales”, meaning investors with a significant amount of cryptocurrency holdings – there is always the question surrounding whether their funds are completely safe or not. When you consider that over $1 billion in cryptocurrency was stolen in 2018 – the concern is understandable.=

Brazilian “whales” are no longer viewing a secure password as enough protection for their digital assets. It appears as though they are now turning to private companies that have actual physical vaults in order to secure their cryptocurrency holdings.

Vault Features

For those wondering about why they might turn to private companies for additional security; it’s important to note that there are some features that are quite technologically advanced. For example, one vault boasts seven armed – and reinforced – steel doors.

While the world might be used to fingerprint scanning, there is another company that is able to take it to a whole new level. For example, another private company offers palm scanners that read millions of individual points on the user’s hand, and also even examines the blood flow through the hand, as well.

Crime Context

For those that are unaware, Brazil has experienced some high-profile cryptocurrency hacks and data breaches last year. The most infamous data breach was that of Atlas Quantum, where the personal information of over thousands of users were revealed thanks to hackers. Regardless of the personal data leak, no funds were compromised.

Of course, it should be noted that in some cases, cryptocurrency whales are targeted in cases that actually use real-life violence rather than cryptocurrency hacking. For example, in one of the more tragic cases of cryptocurrency crime; kidnappers are demanding 5 Bitcoin to return a nine year-old girl in South Africa. The ransom was communicated in an anonymous message through e-mail and it is still unclear what crime syndicate is behind the kidnapping, if any.

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Bitcoin (BTC) ATMs On The Rise

The cryptocurrency community has grown tremendously over the years, and one of the goals for 2019 is for it to grow even more. The more that people use cryptocurrency, and are aware of it, the more valuable these cryptocurrencies can become. One metric that the community has been using to gauge interest has been to keep track of how many Bitcoin ATMs are being installed globally.

Breaking Down The Numbers

2019 is already off to a great start, as 34 Bitcoin ATM’s were installed in the first week. A website that records these installations, Coin ATM Radar, has apparently seen an uptick with regards to installations. The website allows users to find where Bitcoin ATMs are located around the world, which is obviously extremely useful to cryptocurrency investors and traders who travel across the world.

This brings the total number of Bitcoin ATMs to 4155. There are 75 separate countries that have the machines, which means that about 60% of the countries in the world have a BItcoin ATM of some sort. Coin ATM Radar also allows users to search for ATMs by cryptocurrency, as well.

About The Info

It’s also important to note that this Bitcoin ATM growth is occurring at a time where many consider the cryptocurrency markets to be quite bearish. For context, Bitcoin is far from its highs over $19,000, and is currently hovering at around ⅕ of that price – below $4,000. However, the fact that Bitcoin ATMs are on the rise show some promise with respect to mass adoption.

Despite the fact that the markets have been bearish in 2018; it didn’t stop Bitcoin ATM from growing literally 100%, doubling in 2018 to 4,000, from 2,000 in 2017. Cryptocoinspy also reported in December that the Bitcoin subreddit reached 1 million subscribers, as well, indicating more interest than ever in the digital asset.

 

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Equity Fund CEO Says Focus On “Biscuits, Not Bitcoins (BTC)”

It’s not some big secret that the cryptocurrency markets are volatile, which is a main criticism from those in the traditional finance sector. However, there are many in the cryptocurrency community that point out that these figures in finance are bashing cryptocurrency and blockchain because of the potential threat that they pose to the sector.

Regardless, since the price of Bitcoin has been beaten down to below $4,000 – there appears to be much less bashing. It appears as though one equity fund CEO is still warning against cryptocurrency.

About The Company

Gateway Partners is a company that is focused specifically on investment opportunities in Africa, the Middle East and Asia. Its CEO, Viswanathan Shankar, is highly respected in financial circles, and his warnings last year were interesting.

Specifically, Shankar told investors to stay away from Bitcoin, Argentina, and Tesla. Shankar believes these predictions were spot on, as do many others. He stated: “I think I have been proven right on all three. “Bitcoin began its plunge at the beginning of 2018, Argentine bond yields have shot up amid a brewing financial crisis and Tesla is struggling with governance issues.”

Crypto Warnings

While others are suggesting that the cryptocurrency markets may have found a bottom, the CEO of investment house Gateway Partners, Viswanathan Shankar, is urging investors to “steer clear” of crypto. In an interview, he stated that he was focusing on basic goods and services, stating: “We are for biscuits, not bitcoins.”

It should be noted that Shankar did not single out cryptocurrency. He also pointed out that investments in the acronym “BAT” – which stands for Baidu, Alibaba Group Holdings, and Tencent Holdings (three of the most well-known Chinese conglomerates) were not wise at this time.

Mr. Shankar was also recently announced as a Goodwill Ambassador for the Intra-African Trade Fair. The announcement was made in a tweet, which can be seen below:

 

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Jameson Lopp Speaks About Bitcoin (BTC) And Government

There are many reasons to believe in blockchain and cryptocurrency. There are entrepreneurs that love the fact that blockchain can optimize their businesses, and there are human rights advocates that appreciate the transparency of blockchain. Of course, there are differing opinions as to what the true principles of decentralization are, and how blockchain should be applied to society.

Jameson Lopp is a well-known cryptocurrency figure and a self-described cypherpunk, and Bitcoin Core developer. He recently appeared on a podcast where he seemed to point out that Bitcoin could help with overall governance.

About The Appearance

Lopp appeared on the Stephan Livera Podcast several days ago, on December 29, 2018. During his appearance, he seemed to suggest that society could be governed in a new way thanks to the digital asset. Specifically, he stated: “I believe that Bitcoin is a very interesting experiment that if is successful in the long run could not only revolutionize money, but revolutionize how we think about governance.”

He elaborated that Bitcoin could be used to create a “more self-sovereign, anarcho-capitalist society”. He also seemed to acknowledge that if this were to occur, it would not be in the near future, saying: “The first step I think is Bitcoin, and if that’s successful enough, then we can start talking about the next step.”

About Lopp

Lopp was introduced on the podcast as a “well-known cypherpunk within the Bitcoin community” and the chief technology officer (CTO) of Casa”, a key management company. He also created a Bitcoin statistics website by the name of Statoshi.info, as well.

Lopp spoke on his future endeavors going into 2019, stating that he would be “continuing the security focus that I had for the past three years, with our vault products, the Casa Key Master, which we are currently targeting for high net-worth individuals, but of course, eventually want to make available to as many people as possible.”

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Bitcoin (BTC) Trader And Friend Booked For Murder

A Bitcoin trader and his friend have reportedly murdered a young woman in the Philippines, according to various news reports. The trader in question is 21 year-old Bitcoin dealer Troy Woody Jr. and his friend, 24-year old Mir Islam. Both are currently being held in the country on a murder charge.

The crime occurred in the Philippines, and all three individuals involved apparently flew into the country for a short holiday that quickly turned into a longer stay. There is now apparently video evidence related to the crime, as well.

Crime Details

The murder victim is one Tomi Michelle Masters, the girlfriend of Troy Woody Jr. Her body was recovered from a Philippines River (The Pasig River). The two suspects reportedly strangled and dumped Masters’ naked body into the river, but apparently, each suspect is blaming the other individual for the actual murder. Masters worked at a medical marijuana facility in California.

Masters was apparently supposed to fly home with Woody Jr.  on December 17, but never made her flight, according to her father, Shawn Masters. He was then notified by the U.S. Embassy in Manila that his daughter had been murdered.

Additional Context

The authorities have stated that both individuals have admitted that they were involved in the disposal of the body, although they are still investigating who actually murdered Masters. For context, Mir Islam is not only Troy Woody Jr.’s friend, but apparently his business partner, as well. Supposedly, a massive argument occurred when Masters stated that she wanted to travel home to Indiana.

Superintendent Igmedio Bernaldez offered this statement regarding the case: “We have yet to establish the motive. The three were here on vacation. If you ask the boyfriend, he will point to his friend as the killer. But if you ask the other suspect, he will say it was his friend who killed her. They are being questioned and the home they were staying at is being searched for evidence.”

 

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Greek Property Listed For Crypto

There is property on an island that is on sale currently. While this alone would not be considered groundbreaking news, the fact that the island will be sold for cryptocurrency obviously was praised by the cryptocurrency community.

The property consists of over 2 acres on the island of Lemnos in Greece, and can be bought with cryptocurrency. The cryptocurrencies that can purchase the acres are as follows: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Zcash (ZEC), or Euro.

About The Property

The property is located outside of Moudros, Greece, which is the second largest town on Lemnos, the eighth-largest island in Greece. The property boasts “panoramic views of the Aegean Sea”, as well.

History fans might be interested to know that Lemnos was the island of Hephaestus, the god of fire and volcanoes, and is known for volcanic rocks, beaches, and gulfs. The surrounding region also boasts tourist attractions such as The Medieval Castle Of Myrina and the cave of Philoctetes.

For those that are unaware, Philoctetes was considered a hero of the Trojan War, and known for his archery skills. He was the subject of four different plays of ancient Greece, although the only one that survived was a play by the Sophocles, who is one of the most well-known Greek tragedians of all time.

More Information

For those who are interested, the property is available for sale for a fiat equivalent of $180,000. The listing also boasts that there are “water and electricity sources nearby”, so someone interested in building a property would have access to these sources, presumably.

The property is also close to Poliochni, believed to be one of the oldest civilized towns in Europe. It is a community that has been around for over 4,000 years. The listing is proof that there are more individuals interested in listing their property for cryptocurrency. This particular listing is available on the website Bitcoin Real Estate.

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Can Bitcoin (BTC) Solve The Hacker News / Paypal Rift?

It appears as though a leading cybersecurity news platform, The Hacker News, has been “de-platformed” by Paypal, leading many to point out that Bitcoin could be an obvious solution to the issue. Specifically, Paypal will hold their funds for 180 days and ban all accounts associated with the platform.

 

While the outlet did not state that they would necessarily turn to cryptocurrency; the incident does highlight the fact that there is a use case for Bitcoin and respected publications. Paypal has not as of yet commented publicly on the matter.

Tweets Fired

The news was unleashed in a series of tweets from the official Twitter account of The Hacker News, which is @TheHackerNews. The tweets spoke about how the staff was frustrated at Paypal, and specifically frustrated at their lack of an explanation. The tweets are below:

It’s important to note that The Hacker News is a website with a large following. For example, its Twitter following has over 500,000 followers. The news spread quickly, and the tweets went viral after several hours. The tweets now have hundreds of retweets and likes.

It’s also important to note that the company quoted Paypal as stating: “Specific reasons for such a decision is proprietary & it is not released since that could impair PayPal’s ability to do business in a safe and secure manner”. The Hacker News Twitter account hinted that this explanation was inadequate, stating: “You have to mention at least one valid reason.”

Bigger Issue

This isn’t the first time that platforms have “de-platformed” certain individuals or outlets for various reasons. For example, Patreon has severed ties with Sargon of Akkad, a well-known British Youtuber and political commentator, and have explained that they have done so because he violated their hate speech guidelines. Another individual that was promptly removed from the platform for similar reasons was Milo Yiannapolous.

Many have sided with Sargon of Akkad, including members of the “Intellectual Dark Web”, a group of well-known and successful intellectuals and Youtubers such as Jordan Peterson and Dave Rubin. As a result, Peterson specifically has turned to Bitcoin.

On Twitter, many have suggested that The Hacker News accept Bitcoin donations as well, and it will be interesting to see whether more mass adoption occurs with cryptocurrency due to events and incidents such as this one.

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Payoneer CEO Skeptical Of Bitcoin (BTC)

It shouldn’t come as a complete surprise anymore that there are various figures involved in traditional finance that have a vested interest in downplaying Bitcoin and cryptocurrency and general. The trend isn’t new.

The CEO of JP Morgan Chase, Jamie Dimon, infamously called Bitcoin a “fraud” in 2017, which raised a large amount of suspicion and criticism from the cryptocurrency community. In addition, world-famous economist Nouriel Roubini has railed against cryptocurrency repeatedly, and has been paid millions in the past by banks that would be affected by mass adoption.

Now, the CEO of Payoneer has expressed skepticism regarding Bitcoin.

Specific Statements

For some context, Payoneer is a financial services company focused on online payments that was founded in 2005. They have established themselves as a major force in the sector, especially considering some of the most powerful companies in the world utilize Payoneer. These companies include Google, Amazon, Airbnb, and Upwork. Payoneer is headquartered in New York.

 

The CEO, Scott Galit, specifically believes that a single global currency just doesn’t seem like a likely proposition. CNBC quoted Galit as stating: “Despite the interests of lots of people out there in the Internet world who love the idea of frictionless commerce and frictionless money and avoiding fiat currencies, I don’t see it.”

Reasons For Statement

Galit believes that this is unrealistic for a specific, and arguably valid reason – it’s too volatile. He spoke about how for the government to accept Bitcoin, for example, it would be extremely problematic, if you consider its sheer volatility, and the fact that it has lost the vast majority of its value in just one year.

While many cryptocurrency enthusiasts believe that the traditional finance system will be replaced by cryptocurrency, Galit seems to think that this isn’t pragmatic. He told CNBC: “Central bankers are there to actually help manage the economies and provide kind of stewardship for those economies. Part of that is actually managing currency in the interest rates [for lending] and in exchange rates. If you don’t actually have any control over a currency you’ve lost one of the major policy tools that you have, so what do you do?”

It is important to note that one state already seems to contradict Galit’s statements, as Ohio recently announced that they will accept tax payments in Bitcoin.