In a remarkably frank talk at a Bank of England conference, the Managing Director of the International Monetary Fund has speculated that Bitcoin and cryptocurrency have as much of a future as the Internet itself. It could displace central banks, conventional banking, and challenge the monopoly of national monies.
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.
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
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”
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!
We’re excited to announce the arrival of full 2-way operation on our Bitcoin ATM’s!
The ATM does not scan QR codes, so be sure to deposit your coins to your Coinme Wallet first.
How do I do it?
- Deposit Bitcoin into your Coinme Wallet account
- Visit the ATM
- Click “I want cash”
- Receive cash
As always, if you have any questions or comments, feel free to contact us.
Thanks for helping us share Bitcoin with the world.
The team at Coinme
Changes are afoot
We’re in the process of revamping the service.
It will be available Monday.
What can I do to get ready?
- Register at your new wallet: https://www.coinmewallet.com
- Transfer all of your Bitcoin from Romit (http://bitcoin.romit.io) to CoinMeWallet
- Confused? No problem, call or text: 1 (800) 944-3403
When will it come to Vancouver?
- We’re committed to stability, security, and an outstanding customer experience.
- We’re live-testing the service in our Seattle locations and once things are 100%, we’ll bring it to Vancouver.
But I need to buy/sell coin!
- If you have an urgent need, give us a call and we can arrange a meet-up to buy/sell your coin. We’re committed to our customers, and here to help.
We’re excited about these changes and thank you for your continued support. Together, we’re working to help make Bitcoin accessible for everyone.
CoinMe version 2.0 coming soon!
BECAUSE OF OVERWHELMING DEMAND IN 2015, AND CONVERSATIONS WITH CUSTOMERS, WE’RE TRANSITIONING TO A NEW (AND IMPROVED) SERVICE STARTING FEBRUARY 16. WHILE WE TRANSITION TO THE NEW SERVICE OUR BITCOIN ATMS CANNOT BE USED TO BUY OR SELL BITCOIN.
Why can’t I buy or sell Bitcoin at the ATM right now?
We’re polishing up the last remaining details to make sure everything is ready. The launch date for this service is Feb 16th.
How will the new service work?
All coins purchased through the ATMs will deposit to www.coinmewallet.com
(instead of bitcoin.romit.io)
You will login to your account by scanning your driver license.
(instead of your phone number, pin, and email)
The first time you use the ATM, you will be given a Temporary Password that looks like COIN-XXXX.
During the transition period, you must use the www.coinmewallet.com website to send Bitcoins
We’re excited about these changes and thank you for your continued support.
Together, we’re working to help make Bitcoin accessible for everyone.
We’re making your online wallet even better!
Over the last year, we’ve had the chance to chat with our growing customer base and one of the most commonly mentioned issues was confusion around the Romit Wallet. I wanted to take this moment to express that we hear you loud and clear and are happy to announce we’re moving to a better wallet service over the next 30 days.
By now you should have received an email/sms from Romit with the subject of “Immediate Action Required” – which recommends that you remove your Bitcoin from the Romit wallet by February 15th, 2016.
What does this mean?
If you want to use our new wallet service, hang tight. We’ll provide information on how to change over within the next week.
As always, you are welcome to use another wallet. There are many options available. We recommend our friends at www.blockchain.info/wallet who provide a solid product and do a great job at protecting your anonymity.
Regardless of which solution you choose, you’ll still need to move the coins yourself. We can’t do that automatically because you’re the only person that has access to your Romit Wallet (https://wallet.romit.io) , just make sure you move your coins before Feb 15th, 2016.
If moving coins sounds scary or confusing, give us a call at 1 (800) 944-3405 and we can help walk you through it. We’re in the process of updating our website to include information to make this transition easier. You can find the help info at http://coinme.helpscoutdocs.com.
We’re looking forward to improving your experience with us, and we thank you for being our customer! We are proud to provide you with quick, easy, private, and safe access to Bitcoin.
Michael, Neil and Donn
360.936.4355 or (800) 944-3405