Brokers Minutes

NetDepot.com is Now Accepting Bitcoin Payments from clients

In an announcement, NetDepot.com, the fast growing Cloud & Dedicated Server provider, says that it is now accepting Bitcoin payments from customers and clients. Headquartered in Houston, TX the company has datacenters located in Atlanta, Dallas & New York City area. It says that Bitcoin payments for all of its services including Cloud & Dedicat can be made now.

Nonetheless, as Bitcoin is making great inroads to various segments as a lot of companies are trying to look for an easy and cost-effective payment solution. The latest move by NetDepot.com is aimed at cashing in on the potential available for Bitcoin. It will not just save cost but also provide convenience for the clients and customers.

Talking about the latest decision, Rodney D. Giles, President of NetDepot.com said that Bitcoin is a revolutionarily, vibrant and growing virtual currency which his company fully embraces. He further declared that the customers asked for this option and there was nothing that could stop the company from going for Bitcoin payments.

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Coin.MX Founders arrested by FBI for Money Laundering Charges

The FBI is taking tough stand on Bitcoin exchanges that are being used for money laundering. The latest action is against Anthony R. Murgio and Yuri Lebedev of West Palm Beach Florida. The duo has been arrested for running an unlicensed Bitcoin exchange with the goal of helping individuals launder money.

According to the press release the FBI the two men are being charged for operating this exchange through a “phony front-company and, at times, a federal credit union that Murgio acquired for purposes of the scheme.” The FBI says that since at least late 2014, Murgio, Lebedev, and their co-conspirators have knowingly operated Coin.mx.

The investigating agency says that Coin.MX, a Bitcoin exchange service, was being operated in violation of federal anti-money laundering laws and regulations, including those requiring money services businesses like Coin.mx to meet registration and reporting requirements. From the action it looks like tough days are ahead for Bitcoin exchanges who are laundering money.


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Brian Armstrong, the CEO of Coinbase Says Bitcoin Could be Reserve Currency by 2030

The CEO of the world’s largest Bitcoin wallet provider Coinbase is bullish on the digital currency when he says that Bitcoin could replace the US dollar as the global reserve currency by 2030. Though this is another point to say whether the US will allow a rival currency to replace its dollar, the ramifications of Bitcoin emerging as a reserve currency will be many.
In his latest tweet, Brian Armstrong, the co-founder and CEO of Coinbase, says that he thinks Bitcoin could surpass the dollar as reserve currency within 10-15 years. He also revealed that Coinbase had a “rough plan” to make this happen. Nonetheless, his organization is playing pivotal role in the entire Bitcoin ecosystem; he knows a lot more than the others for sure.

Founded in June of 2012, Coinbase helps merchants and consumers transact with the new digital currency Bitcoin. Based in San Francisco, California, the company has been able to mark its presence in the world’s most widely used alternative currency with a total market cap of approximately $3.5 billion.
Armstrong’s comments that has come after reports that France’s biggest bank, BNP Paribas, is looking at ways to incorporate Bitcoin into its currency funds, is further giving the idea that the digital currency indeed has a bright future. Earlier, BNP Paribas did a “beta testing” with cryptocurrency and an announcement is expected to be made in the coming weeks.

Though there are a lot of challenges in front of Bitcoin before it truly emerge as a reserve currency, one of the biggest barriers is that it is extremely volatile. However, Armstrong believes Bitcoin will overcome this issue as adoption and trust grows. He was quoted saying that volatility is a self-correcting problem.

Bitcoin as Reserve Currency can Play Pivotal Role in Global Economy

According to him they have seen that as it’s dropped in the last three years, year-on-year. He foresees volatility will die down in the next few years. Interestingly, the last year and this year has seen quite stable Bitcoin which when compared with the Bitcoin prices in 2013 seemed reasonable and reliable.

The history shows that reserve currencies have been changing over the years. Before the US dollar took over the reserve currency from the British pound sterling, it was gold that was considered the global reserve. However, as gold cannot be a practical solution for international transactions, Fiat had to replace, now it seems virtual currency’s time.

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CoinMate Partners with MoneyPolo to Provide Services in 100+ Countries

In a press release, the European Bitcoin exchange CoinMate announces that the company has entered into a new partnership with payment provider MoneyPolo wherein the two companies have agreed to enable users from over 100 countries to exchange cash for Bitcoin and back. This is expected to take CoinMate to the next league of the companies with wide user base.

The company believes that once the two companies are able to provide the services to the users who wish to buy Bitcoin with cash, a lot of their issues will be solved to great extent. However, the company informs that the customers need to open a MoneyPolo account as well as a CoinMate account for the purpose.

The partnership networks of MoneyPolo are not just available around the world but also provide reliable services and that is a major reason that CoinMate decided to integrate. Nonetheless, the London-based Bitcoin exchange changed its standard currency from the U.S. dollar to the euro and allows for deposits in Czech koruna and Polish zloty.

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OneBit Developing new Bitcoin transfer technology that Uses Near Field Communication (NFC)

Developing new Bitcoin transfer technology that will use near field communication, OneBit, a Bitcoin app will soon allow making payments with the use of digital currency at credit card accepting merchants. The new Bitcoin transfer technology will use near field communication or NFC which is fast emerging as a revolutionary solution.

OneBit informs that NFC enables people to pay using their smartphones or other devices and the app allows customers to use smartphones for Bitcoin payments. The new technology according to the firm is expected to incentivize more users to adopt the digital currency which are essential for bright prospects.


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Coingaming Announces the Launch of Bitcoin Only Sportsbook Product

Looks like Coingaming has prepared itself well ahead of the forthcoming English Premiership football season which starts on August 8th 2015 as it has brought in its Bitcoin only sportsbook product. Coming from the leading software provider for white-label Bitcoin casino solutions, the offer is expected to attract a large number of customers.

In a press release to media, the organization informs that the sportsbook solution will offer several unique opportunities for Bitcoin gaming operators. Additionally, the product has been designed and built in-house to maximize profits for Bitcoin operators looking to add sports to their gaming portfolio, or for those wishing to improve their current sports offering.
Significant Advantages over Fiat Based Fixed-Odds Platforms

It appears crystal clear that the Bitcoin casino solution provider understands the convenience and efficiency of Bitcoin as even Mark McGuinness, Communications Director of Coingaming, admits that the underlying Bitcoin sportsbook technology shall offer significant advantages over traditional fiat currency based fixed-odds platforms.

He was quoted saying:

"We have over 10,000 live betting markets on offer per week, including fast developing betting sports such as MMA and eSports. Benefits for the player include the ability to place larger bets on events on any device with better odds, instant deposits and cash-outs. These features will appeal to young smart, mobile focused sports bettors that demand instant gratification."

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Venezuelan Bolivar Experiencing Collapse

In wake of depleting USD reserve and increased money minting, the Venezuelan Bolivar is going towards its worst phase, for its value is close to being collapsed. According to the available reports, it now takes around 630 Bolivars to purchase a single dollar. However, the government is insisting this value to be around 6.3 Bolivar per dollar. In our opinion, it is a greater time for Venezuelan population to hedge their money either into some another foreign currency, and metal, or simply into the cryptocurrency Bitcoin.

Puerto Rico Unable to Repay Debt by Saturday

The Puerto Rico government has said that it won’t be able to repay its debt by the scheduled Saturday. The decision has brought the commonwealth nation on the paths of debt crisis, as it struggles to repay a $72 billion loan to its creditors. This action has put Puerto Rico in the lines of Greece, whose population is still facing a tyrannical capital control issue. It would be therefore recommended that Puerto Ricans hedge their funds off their bank accounts in alternatives like Bitcoin.

IMF Predicts Difficult Economy in Europe

The International Monetary Fund warned on Monday that the economic outlook for the euro area are modest. It further recommended to print more money than planned and extend the program to buy government bonds.

Swiss Franc Outrace Euro in Terms of Value Drop

The Swiss National Bank announced Friday that it suffered a loss of 50 billion Swiss francs (US $52 billion) in the first half, largely due to the decline in value of its Euro holdings. The announcement caused a fall of the Swiss franc by 0.4% against the euro by the end of last week.

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Poland’s flag carrying airline service, LOT Polish Airlines, has recently integrated Bitcoin as one of its online payment methods.
According to the company’s press release, they were looking the growing digital currency culture from a very long time, and how it was progressing autonomously in terms of adoption. LOT further stated a trivia, revealing that every third ticket it sell is sold online — via its website and mobile-based platforms. Their decision to add one more payment option, therefore, appears to be more strategical than user-devoted.

Jiri Marek, LOT Sales and Distribution Executive Director, however expressed that their decision to add Bitcoin payment service was taken to address the need of their clients, saying that most of them constantly access their web-based platform for booking flight tickets.

“We go for innovations thanks to which their journey is even more comfortable and pleasant not only on board, but also much earlier – at the stage of buying the ticket,” he explained. “Many of them do the shopping online, including plane tickets.”

“It‘s just the matter of time when payments with the online currency will become as popular as using credit cards today. We notice this potential, which is why we are one of the first airlines in the world to give its passengers the possibility of paying with Bitcoins as early as today.”

With the decision, LOT joined the list of many other flight service companies that had once integrated Bitcoin payments onto their platforms. They include Mexico’s TAR, airBaltic, Air Lituanica, amongst others.


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BitPay Partners with Big Payment Companies, Expands to Three Continents

Bitcoin has been reaching to new sections, new regions and to new level of popularity, the same is also true about BitPay which has been on a roll all these years. The Bitcoin payment processor is taking things too positively in partnership with some renowned businesses worldwide, namely PSPs Payfirma, Sonic Payments, BillPro, Kadu, OpenPay, and Ixopay.

The company believes that through these strategic collaborations, it will be able to extend its reach to over 100 countries and millions of customers around the world. As the company has been able to harness partnerships with various firms, even the partners are optimistic about the reach and expansion to the new territories.

Chris Cashwell, Founder and CEO of Sonic Payments said Bitcoin’s potential is huge as it’s an integral part of the future of money. He also said they are excited to add it to the growing list of ways to pay. According to him the rental space has been stagnant for far too long; however, they are working with both property managers and DIY landlords to change that.

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Bitcoin News Mash-Up: Yes to BitLicense; No to BitLicense; and More

BitStamp Files Application for BitLicense

When a majority of the Bitcoin companies are packing their bags to leave New York, Bitcoin exchange BitStamp has decided to embrace the reason of their departure. The popular Bitcoin exchange recently informed on Twitter that it is applying for BitLicense, the widely criticized Bitcoin regulator framework of the New York City.

Kraken and BitFinex Not Applying for BitLicense

Kraken and Bitfinex , two of the world’s largest Bitcoin exchanges, has confirmed that they would not seek BitLicense, while citing a number of reasons for there decision. For a long time, the Kraken relationship with US regulators was conflicted. in early 2014 the company decided to withdraw its services from the local market and suspend operations in US dollars until October.

Wynyard Group CEO: Cryptocurrency can Solve Money Laundering

The CEO of anti-crime software firm, Mr. Paul Stokes, recently elaborated the potential of UK cryptocurrency businesses in solving the money laundering crimes. He spoke about a special software that can automatically integrate the AML controls into a company’s infrastructure. This software, without need any inputs from the third parties, can monitor and alarm money movements that seem suspicious to law.

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