Major Car Dealerships and Airport Limos in Japan Begin Accepting Cryptocurrencies

A regulated cryptocurrency exchange in Japan has partnered with two companies to enable cryptocurrency payments for their businesses. Hinomaru Limousine has started accepting payments in cryptocurrencies for its airport taxi service while Carchs Holdings allows crypto payments at its used car dealerships. Airport Car Service by Hinomaru Bitpoint, one of Japan’s 16 regulated crypto exchanges, recently announced two business alliances to increase merchant cryptocurrency adoption in the country. On Tuesday, the exchange revealed a partnership with Tokyo-based Hinomaru Limousine to trial cryptocurrency payments for the company’s airport taxi service between Nov. 6 and Jan. 9. Established in 1981, Hinomaru operates a fleet of 362 limousines and 161 taxis, Bloomberg reported. A source familiar with the matter told the news outlet that if the trial “is successful, it may be expanded to include regular taxi rides.” According to Bitpoint’s announcement, crypto payments …
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Celebrating 10 years of Bitcoin

Today is a celebration of 10 yrs of Bitcoin! Bitcoin's whitepaper was published 10 years back! Bitcoin, the world’s first and most popular cryptocurrency, celebrates its 10th birthday. It all started Oct. 31, 2008, with a whitepaper (report giving information or proposals) published by an unknown person or group of people using the name Satoshi Nakamoto. The white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” was a nine-page document. It was posted as a link to a cryptography mail list, and has become the bible on how bitcoin operates today. The paper detailed the use of a peer-to-peer network (a distributed application architecture that partitions tasks or workloads between peers) to allow online payments to be sent from one party to another without depending on a financial institution. All such transactions are broadcast across the entire network, but users' privacy is maintained by keeping their bitcoin addresses anonymous. The first commercial tran…
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Bitcoin [BTC], Ethereum, Litecoin and many more accepted as payment by Marks Jewellers

In a big push for cryptocurrency adoption, Marks Jewellers, one of the biggest jewellery retailers in the United States, recently announced that they would be adding multiple cryptocurrencies as payment methods. This move is to reportedly expand the reach of the company to reach global proportions. The jewellers decided to add Bitcoin and other cryptocurrencies as a payment method in order to pay lower fees for cross-border payments and avoid pitfalls of centralised payment processing systems such as chargebacks. They aim to capitalise on the blockchain and its poster technology in order to “open Marks Jewellers store to the world”. They announced support for coins such as Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Diamond (BCD), Bitcoin Gold (BTG), Ethereum (ETH), Litecoin (LTC), Dash and Zcoin (XZC). This marks a big drive towards adoption in partnership with Shopping Cart Elite, an e-commerce platform. Moreover, the business has been functioning for over…
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Meet Erik Finman, the Teenage Bitcoin Millionaire

Erik Finman is one of the world’s youngest bitcoin millionaires – an achievement he’s not shy about flaunting. The 19-year-old’s Instagram feed is full of ostentatious photos of himself stepping out of private jets or lying on beds covered in money with captions like: “Cash so worthless compared to Bitcoin I’m sleeping on it …” In one photo he is pictured smoking, with the caption: “Sometimes you just need a good smoke to relax when you have to live with the exhausting burden of so much money and too many beautiful women.” After one of his fans admonishes him, he replies: “Don’t worry guys. It’s not a real cigarette. Just a hundred. Don’t smoke!” The teenager, who first bought bitcoin at age 12 with $1,000 from his grandmother, styles himself in a similar vein to the notorious Martin Shkreli; he’s just younger and not in jail. However, all is not as it seems with Finman. Far from being a vapid bitcoin bro, he admits his social media presence is a carefully calculated f…
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The Good, The Bad, And The Ugly Of Initial Coin Offerings

Initial coin offerings, more commonly referred to as ICOs, are an innovative fundraising mechanism in which new projects receive Bitcoin and Ethereum in exchange for crypto tokens that get value if the project turns out to be successful.

As you can see from the infographic below provided by BTXchange, this kind of fundraising opens up a lot of new possibilities for startups. However, there's a big stumbling block that often gets brought up whenever discussions about ICOs take place.

Shortly put, ICOs have no regulation in some countries.

In other words, if you live in a country which has not yet introduced any regulations and invest your cryptos into an ICO that turns out to be a fraud, you have nowhere to submit a complaint, let alone get your money back.

However, many feel like the benefits of ICO by far outweigh the problems that plague this fundraising mechanism. For starters, unlike ventur…

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Dormant 720 Million Dollar Bitcoin Wallet Has Woken Up – But Who Owns It?

Once again in the world of cryptocurrency, we have a mystery on our hands. A $720 million sleeping giant has woken up after four years, with $100 million moved to Bitfinex and Binance over the course of ten days at the end of August. The bitcoin wallet contains 111,114 BTC or 0.52% of the total supply. The sudden movement of these dormant funds could have a disruptive potential in the market price action, particularly if the funds belong to one of the two possible likely candidates suggested by Reddit sleuth u/sick_silk. The Redditor brought the movement of the funds to the attention of the crypto community by publishing a series of posts tracking each transaction in detail accompanied with graphs representing the activity. The first post was made on 31 August and suggested that the funds may be connected to the now-defunct dark web market Silk Road which handled the trade of billions of dollars worth of contraband such as recreational and prescription drugs, illegal w…
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Bitcoin ATMs Now In The Thousands Around the World

Coinatmradar.com reports a milestone of the 3,500 threshold being crossed for bitcoin ATMs (BATM) installed across the globe. One of the goals behind bitcoin automated teller machines is ease of onboarding to the world of crypto. A bear market – a protracted Crypto Winter – appeared to slow BATMs’ placement. And for sure it just might have, but numbers remain relatively strong considering, with the greater worry among BATM operators being US federal regulations preventing innovation. 3,500 Bitcoin ATMs Installed Around the World Coinatmradar.com announced this week a psychological milestone for the ecosystem had been reached: more than 3,500 bitcoin ATM machines are now installed all over the world. Not so long ago, BATMs were thought to a perfect onboarding tool, and especially in the United States. Americans are already trained on the basic tech, having had decades of automated ways to snag cash. That such machines could be placed where consumers are, rather than t…
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Some Merchants Are Doing $10 Million a Month in Bitcoin Payments

“Bitcoin is actually working,” says Sonny Singh, BitPay’s COO, in an interview with a China based crypto media. He said BitPay processed $1.2 billion worth of bitcoin payments last year. This year, “we do a transaction at BitPay every 10 seconds in the world,” he says. “There are so many people spending bitcoin,” Singh said, before revealing that some of their merchants “are doing between 1 million and 10 million dollars a month.” The last known number of BitPay merchants is 100,000, including Microsoft, Newegg, TiggerDirect and others. Some merchants however do not want to be named. In the context of regulations, which he says BitPay welcomes, Singh said: “We still have a lot of customers that use our product, but they are afraid to announce it to the public, they think it might get them into trouble for some reasons.” Interestingly Asia, and China in particular, is a big market for BitPay. In US people trust the dollar, he said, and they don’t use wallets like …
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Kim Kardashian West Goes all in with Bitcoin

Kim Kardashian West, the reality television starlet with 114 million followers on Instagram, staked what appeared to be physical Bitcoin (BTC) chips on a charity poker night out in LA yesterday, July 29. Kardashian West, sisters Khloé Kardashian and Kendall Jenner, and mom Kris Jenner hosted a table at yesterday’s inaugural "If Only" Texas Hold’em Charity Poker in Los Angeles to raise funds for City of Hope, a nonprofit clinical research and treatment center for cancer. Amidst her Instagram Stories’ videos of betting with poker chips, the star posted a picture in which she bet with what appeared to be physical Bitcoin chips, accompanied by the jubilant byline “We moved onto bitcoin!” The idea of representing Bitcoin with a physical commodity has been around for several years — whether by minting gold coins or bespoke printed banknotes. One of the physical cryptos on Kim’s Instagram appears to closely resemble a Kialara-designed Bitcoin, which crypto entrepreneur Ma…
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