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How You Can Spend Your Bitcoin Fortune wisely

How You Can Spend Your Bitcoin Fortune wisely

http://bargeldwillkommen.com/wp-content/uploads/2014/06/BellaVista_sample.jpgLet’s face it: Having only crypto will not make for a good life. And crypto now is high, very high. A correction is in the cards, so why not lock in the insane profits and convert it to something you can touch, see, feel and use? At  a bargain?

A friend of mine is offering this one-of-a-kind real state in the Caribbean, a true mansion, your neighbors will be Schmid from Google, and other hi-flyers. Cabarete, one of the six important surf and kite surf locations in the world is just 5 minutes by car.

He is very motivated to sell as he needs to go back to Europe to take care of his elder parents.

Go and have a look for yourself

Or here first a video:

 

Argentinian Bank Utilizes Bitcoin for International Payments

Banco Masventas, a bank based in Argentina, has launched a new service as of 22 May 2018 which will utilize Bitcoin to facilitate international money transfers. This is a major milestone for Bitcoin, since it is likely the first time it has been used by a financial institution as an international payments standard.

The bank is partnering with Bitex, a Latin America-based Bitcoin exchange, to facilitate the international payments. In an interview with Coindesk, Bitex chief marketing officer Manuel Beaudroit said that customers won’t actually be touching any Bitcoin when using this new international payment service offered by Banco Masventas. The customer simply asks the bank to send an international payment from their account, and the bank in coordination with Bitex will handle converting their fiat funds to Bitcoin and back again when it reaches its international destination.

This service offered through Bitex will allow Banco Masventas customers to significantly reduce costs associated with international transfers since there will be no international banks as intermediaries. Also, international transfers will be faster than other systems, occurring in less than 24 hours. It only takes 10 minutes for a Bitcoin transaction to confirm on average, but it will take some time to convert fiat to Bitcoin and back to fiat.

International transfers will be available to over 50 countries, and Banco Masventas will be charging a 3% commission.

Of course, Bitex’s process of converting fiat to Bitcoin and back to fiat when the money reaches its international destination is inherently centralized and possibly not entirely cryptographically secure. Customers will have to trust Banco Masventas and Bitex when using this new international transfer service.

Sending Bitcoin by itself with no other service involved actually makes more sense if control of your money and security is the priority. Of course, using purely Bitcoin is less convenient since ultimately it usually needs to be converted into fiat before it can be used to buy goods and services. Bitex streamlines the process of converting Bitcoin payments to fiat, which can be quite an arduous process if someone had to do it themselves. Also, using the service offered through Bitex removes the risk of market volatility.

It is a big deal that any bank is using Bitcoin to transfer money across international borders, and this may be the beginning of banks recognizing and utilizing Bitcoin as a trustworthy payment method in the future. Bitcoin’s ability to transfer money anywhere in the world instantly and securely is gaining recognition.

 

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Aussie Govt Considers Blockchain for Services, Welfare Payments

Australia’s Prime Minister Malcolm Turnbull has asked the country’s Digital Transformation Agency (DTA) to research blockchain, and how it could be used to improve government services, including welfare payments.

The Australian government has granted the agency a budget of AUD 700,000 (USD 530,000) in order to carry out an investigation into DLT, according to ITNews.

“The Prime Minister, in fact, wrote to our minister and asked us to have a look at blockchain, which evolved into this particular piece of work,” DTA chief digital officer Peter Alexander said.

The move is not entirely surprising given recent interest among financial instructions in the country, most significantly, the Australian Securities Exchange’s (ASX) recent plans to replace its current clearing and settlement system with a DLT model within the next two years.

“ASIC (the Australian Securities and Investments Commission) [was] looking at blockchain, immigration – now home affairs – was looking at blockchain and considering it, and more agencies were talking about it,” Alexander said, adding, “Lots of vendors were coming to government and talking about blockchain.”

The move is one of many focused on how the government can best leverage blockchain’s advantages, including another DTA announcement this week that the agency plans to look into how the technology can be used for making social security welfare payments to citizens.

The new plan is focused on payments by Centrelink, reports CCN. The DTA feels that there are significant advantages of delivering social security welfare to citizens over a blockchain. Centrelink, part of the Department of Health Services (DHS), is responsible for a range of payments, particularly those relating to unemployment, pensions, and health. DTA Chief executive Randall Brugeaud stated:

“Our plan is to look for use cases across the Commonwealth with an initial focus on the welfare payment delivery system, then working with our digital service standard, we’ll conduct user research a view of having a prototype by the end of the next financial years.”

Brugeaud added that the potential of blockchain to securely record transactions would be investigated, drawing on the experience of other public and private sector organizations.

As blockchain is increasingly being developed and employed in new sectors across the country, cryptocurrency is also increasing in popularity. While Australia may not be the largest market for Bitcoin and other digital currencies, it is one that is quickly growing. It is currently ranked the 13th in the world for Bitcoin trading volume.

 

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Kidnappers Demand Bitcoin Ransom for South African Boy

A 13-year old boy named Katlego Marite was abducted by kidnappers in eMalahleni, formerly Witbank, South Africa. A note with a Bitcoin (BTC) address was left at the scene specifying that a ransom of BTC 15 should be paid if the parents wanted to see their kid again.

As of this writing, the ransom is worth USD123,000. It appears to be the first known case in South Africa’s history where criminals demanded a ransom to be paid with cryptocurrency.

According to reports, the boy was playing with two friends on Frangipani Street when a gold Toyota Corolla pulled up. A man dressed in black with a green jacket grabbed the boy and drove off, and the boy’s friends ran home and told their mother who called the police.

It is unclear why the boy was specifically targeted. The parents were not even aware of Bitcoin or how to use it, so this kidnapping did not appear to target a stash of Bitcoin.

Bitcoin can provide a degree of anonymity when sending money, which is speculated to be the reason the kidnappers chose the currency. All they had to do was leave their Bitcoin address behind with no other identifying information. This is unlike Western Union, MoneyGram, or banks where identifying information is required to accept payments.

Realistically, Bitcoin and cryptocurrency, in general, are the only private payment methods that can be used to transact from a distance. Except for its physical nature, cash is technically more anonymous than banks and payment providers like Western Union, since a normal cash transaction requires no identifying information.

 

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Bitcoin Pizza Day Marks Eight

Eight years ago today, on 22 May 2010, Laszlo Hanyecz of Jacksonville Florida made history by purchasing two large pizzas from Papa Johns with 10,000 Bitcoins. This was considered a major milestone as it was possibly the first time that Bitcoin was used to purchase goods from a major company. Today, ‘Bitcoin pizza day’ is proof that Bitcoin could be used as a currency.

Hanyecz had mined the Bitcoins to purchase the pizza on his personal computer. This is a feat that is now impossible, mining Bitcoins on a personal computer costs more in electricity than the minuscule amount of Bitcoin it produces. Nowadays, expensive specialized mining rigs made with application specific integrated circuits (ASICs) are required to have any chance of mining Bitcoin profitably.

The pizza was purchased with the help of a forum user on Bitcointalk; Laslo Hanyecz sent the Bitcoins to the forum user and then the forum user purchased the pizza with their card. Bitcointalk continues to be the most popular Bitcoin and cryptocurrency forum to this day, and was started by Satoshi Nakamoto, the mysterious founder of Bitcoin who disappeared shortly after it launched.

Many would think that Laszlo Hanyecz would have regrets over using 10,000 Bitcoins to buy a couple of pizzas, since today they are worth an astonishing USD 84 million. Coindesk released a pizza day tracker which updates in real-time how much the 10,000 Bitcoins used to buy the pizza are now worth, expected to result in cringing and astonishment from most.

He doesn’t appear to have any, however, he was stoked just to be able to use the Bitcoins to buy pizza since he had gotten them for free by mining on his computer and they were barely worth anything at the time.

At the time the infamous pizzas were purchased, each Bitcoin was worth roughly 3/10 of a US penny. This fact help illustrates how enormous the rise in Bitcoin’s price has been. As of this writing, each bitcoin is worth USD 8,200, an incredible rise of 273,300,000% since pizza day. There is probably no other asset in the world that has risen at such a pace as Bitcoin has in the long term.

Now Bitcoin can be used to buy anything in the world and is accepted on at least a thousand different retail websites, but it all began with one man in Florida using Bitcoin to buy pizza.

 

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Origin of Money and Future on the Blockchain through Minexcoin’s Four-Functions Developmental Strategy

Everything changes. That’s the one true constant and when it comes to technology, that constant has remained the driving force behind many a breakthrough and evolutionary development. Change determines the adaptability of anything. Those impervious to it have no hope surviving be it a living creature or non-living. With living creatures, the effects of change can be seen in their physiological and intellectual development, while non-living things are constantly being improved upon, upgraded, and modified.

The Value of Money

One of the most important changes of our time is currently underway in the economic sector. As the universal measure for the direct exchange of values, goods, and services, currency have had to undergo a series of changes in order to qualify as the definitive vehicle for exchanging values. These changes have yielded four essential and interrelated values, which every asset must acquired in order to be regarded as a fully-fledged currency. These are values must provide a means of saving and accumulation, offer equivalent of value, be a means of payment, and finally must have definitive circulation.

Means of saving and accumulation

During periods of inflation, fiat currency are often unfit for preserving value, requiring some sort of mechanism or instrument to store values instead. This is why precious stones are highly valued during this period due to the fact that their values are often fixed regardless of the economic upheaval going on.

With this in mind, leading blockchain company,  MNX system, has developed an autonomous algorithm for smoothing the volatility called Minexbank. Minexbank boasts of an innovative tool for holding asset. This tool, known as  “Parking”, enables MNX holder to retain their assets, while also receiving interest for “hodling”, which currently stands at a 70% per annum interest rate at publication time.

Equivalent of value

MNX comes with a unique system for users to peg down the value of goods and services as monetary units using cross-chain transactions to peg the value of one crypto to a “benchmarked” crypto before exchanging to fiat. The ecosystem comprises of several innovative products, playing critical roles in ensuring liquidity and fluidity of exchange on the network. Physical bank cards ensures that users can still transact using MNX even in places where they no longer have access to their digital wallet.

Using trustless exchanges and ATM terminals through an Atomic Swap technology, users will be able to transact businesses or exchange fiat and digital assets without requiring third-party mediation. Through this technology, MNX is creating a gateway between the digital and the physical world.

Means of payment

For centuries now, the sole function of money has remained the liquidation of debts from financial commitment, meaning that if an asset is not considered as a means of saving and of equivalent of value, it no longer had any function.

Minexcoin eliminates this age-old problem through its intricate development  of its platform. Users on the platform are automatically presented with two enterprising products as soon as their coin becomes equivalent to its value – MinexMerchant and MinexMarket. The Merchant service allows merchants to seamlessly accept MNX for fast and convenient payment of goods and services through the platform’s core API. The marketplace, on the other hand, is a ecosystem for ordinary users to directly exchange goods or services through Peer-to-Peer channels via MNX.

Means of circulation

The barter system remains one of the most inconvenient mode of exchanging values due to the fact that not all assets can liquidate at a moment notice, nor is it circulation guaranteed. Fiat circumvented this problem by ensuring that it can quickly pass from hand to hand to perform its functions fleetingly.

To ensure that MNX becomes as liquid and convenient as fiat, MNX will be launching the MinexPlatform in the third quarter of 2018. MinexPlatform will be a springboard for developers and startups for creating digital values based on MNX using open source tools developed by the team.

For more Information, visit the Minexcoin website at – https://minexcoin.com

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