Dubai becomes the first country to create “official” state CryptoCurrency

Fascinating news, for the first time, a country is creating a Cryptocurrency for official use.

A partnership has been set up to develop and implement emCash, an encrypted digital currency, which people can use to pay for various government and non-government services in Dubai.

According to state news agency WAM, Emcredit, a subsidiary of Dubai Economy, and the UK-based Object Tech Group Ltd will work together to establish contactless payments.

Based on the latest blockchain technology, emCash will be the digital currency in emPay wallet, launched by Emcredit to support contactless payments.

emPay will allow the UAE residents to make varied payments through the near field communication (NFC) option on their smartphones.

 

See the rest of the article here.

 

 

Fidelity is mining Bitcoin?

I guess it was inevitable, but to see it admitted publicly is a surprise to me! Big financial business mining Cryptocoins?

One of Fidelity’s projects is mining bitcoin and ethereum, which Johnson said was started for educational purposes, but now turns a tidy profit. “We set up a small bitcoin and ethereum mining operation…that miraculously now is actually making a lot of money,” she said.

 

Read more about it over at the Quartz Article

 

Bitcoin News from Finland!

Outstanding news for Bitcoin today, from Finland.

“Bitcoin is a monopoly run by a protocol, not by a managing organization. Familiar monopolies are run by managing organizations with discretion to determine and then change prices, offerings and rules. Monopolies are often regulated to prevent or at least mitigate their abuse of power”

 

Finland Central Bank Praises Bitcoin

It’s a jungle out there!

So, it may surprise some of you to know that there are other Crypto currencies other than Bitcoin. One of the most dominant is a coin called Ethereum, which has a feature allowing sub-coins/aka-tokens to be created by anyone. This, in turn has opened up the door to abuse. Take a few minutes to read the article below, and walk the brave new world of digital money with the same care you would your real money. Be safe!

 

The ICO world is full of pump-and-dump schemes — don’t be a victim

What would you do with 20,000 Bitcoin?

Here’s the story of an engineer who did what we all wish we had, bought 20,000 BTC when the price was low.. then sold when the price got high!

 

 

https://cointelegraph.com/news/software-engineer-buys-20000-btc-in-2010-quits-job-to-travel-around-globe

 

Bitcoin ruled as a commodity? What does it mean?

Last Thursday the United States Commodities Futures Trading Commission (CFTC) settled charges against a small and now-defunct operation in San Francisco called Coinflip, which marketed bitcoin derivatives. In the process, the CFTC asserted for the first time that bitcoin is a “commodity”.

What does that determination mean for the bitcoin ecosystem and what does this new kind of enforcement action mean for the future?

Read more over at Coindesk…

 

New York Stock Exchange #NYSE adds Bitcoin ticker!

This is big news! The NYSE is now tracking Bitcoin as an index! One more good reason to stop by our ATM, and buy some Bitcoins today!

 

From Coinbase:

“The New York Stock Exchange (NYSE) has today announced the launch of a bitcoin price index (NYXBT).

NYXBT will represent the daily US dollar value of one bitcoin at 4pm (BST) and will be published on the NYSE Global Index Feed (GIF).

For a limited period it will also be viewable on the NYSE’s website.

Thomas Farley, NYSE group president, said in a statement:

“Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or investing with this emerging asset class.”

Payment processor #Stripe adds #Bitcoin support!

This is big news… Payment processor “Stripe” one of the first processors to enable merchants to process credit cards with their  Ipad/iphone/android plus tiny plugin card reader, has added Bitcoin support to the payment apps:

  • Anyone can sign up to accept bitcoin — there’s no waiting period (which is still the case with other products)
  • If you’re already a Stripe Checkout user, adding bitcoin is just one line of code
  • Bitcoin transactions will appear side-by-side with fiat currencies in the Stripe dashboard, making it simple to manage
  • Bitcoin transactions will have clear, public pricing (0.5% per transaction)

 

Cruise on over to Stripe’s page on Bitcoin for more information and signup!

 

#Bitcoin is for money, as email was for letters…

Great quote, and it puts the potential of bitcoin into simpler terms…Electronic money for an internet age. Email used to be the “new” thing.. back up not very far, and your grandparents had no idea what email was.. Today the internet is used by millions of all ages.

Bitcoin allows you to send money instantly, electronically, across all corners of the planet.

I was reading a great article last night on Business Insider, by Wences Casares, in which he postulates that Bitcoin may end up being a bigger deal than the Internet was!

Bigger than the internet

That’s why I think bitcoin is important: It’s relevant, and I think it will take time, just like the internet took time. But it may have more impact than the internet. If you go to Africa or Latin America, parts of Asia, and you sit down with not even a poor person, just an average person, and you ask, “Look, what would you prefer — free access to information [which they’re getting now with their phones] or a secure place to store the fruits of your labor and to receive and make payment?”

If they didn’t have either, which was true until recently, they would choose the second because it is more relevant to them. Right? So for 5 billion people, I think that bitcoin will be more relevant than the internet.

Great article, you can read the rest here:  http://www.businessinsider.com/how-bitcoin-may-have-more-impact-than-the-internet-2015-2