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NZ Banks Deny Shutting Down Bitcoin

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The New Zealand Bankers’ Association is not aware of any problems with the local Bitcoin community getting access to banking services. A Bitcoin ATM was shut down by its owner this week after claims the service could not get support from banks. The Herald understands

Igot to Protect Users from Bitcoin Volatility

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Recently, Igot, an Australian bitcoin exchange has been able to overcome a big hurdle associated with facilitating the trading of the digital currency, and that hurdle is volatility. Igot customers can now buy and sell when the trading prices are as per their expectations by

EU Set to Impose Restrictions on Bitcoin

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The European Commission signalled it will try to impose rules on virtual currencies, such as Bitcoin, after the bloc’s banking regulator ordered lenders to shun them. “It’s imperative to move quickly on this issue,” Chantal Hughes, a spokeswoman for financial services commissioner Michel Barnier, said

Blockchain Returns to Apple

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Blockchain’s bitcoin app is back on Apple ‘s App Store. The app, which lets users manage their Blockchain account from a mobile phone, was reinstated Monday by Apple after being booted from the store in February. The removal of the app infuriated bitcoin fans, some

Australian Bitcoin ATMs Set to Soar

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Perth, Adelaide and Brisbane may soon boast their own bitcoin ATM machines in shopping centres as popularity of the world’s most high-profile digital ­currency soars across Australia. Chris Guzowski, founder and chief executive of ABA Technology which provides bitcoin ATMs in Australia, said the company

NASCAR to Race Bitcoin Car?

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There was quite a bit of buzz surrounding efforts earlier this year to bring dogecoin to NASCAR as a means of promoting the digital currency, and it happened. Together, the dogecoin community raised enough funds to plaster their logo all over racer Josh Wise’s car,

U.S Blocks Mt Gox Bitcoins.com Auction

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TOKYO—A planned auction of bitcoins.com, a domain name owned by the chief executive of defunct bitcoin exchange Mt. Gox, has been postponed after a U.S. court order temporarily blocked the company that operated the exchange from selling assets. A district court in Washington state issued

AirBaltic Becomes First Airliner to Fly Away with Bitcoin

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The Latvian flag carrier, airBaltic now accepts Bitcoin as payment for tickets on its website. Valid for tickets to 60 destinations across Europe, the Middle East, Russia and the CIS (Commonwealth of Independent States), the Bitcoin payment option is available when purchasing the cheapest tickets

NY Targets Bitcoin with BitLicence

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New York State has become one of the first jurisdictions in the world to propose explicit licenses for companies wanting to carry out business in bitcoin. The proposal, known as the “BitLicence” would require businesses to keep records of the identities and real-world addresses of

Dell Jumps on Bitcoin

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Dell has jumped on board the Bitcoin bandwagon, with the global technology powerhouse to start accepting the cryptocurrency as a payment option for anything purchased on its website. The move was first announced by Dell’s founder and chief executive Michael Dell, who exulted over Twitter

The A-Z of Bitcoin for Children

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Bitcoin and other cryptocurrencies are still a mystery to most adults, so teaching children how they work may seem a strange ambition. Nevertheless, that’s the aim of a new app, The Bitcoin Alphabet – for Kids and Everyone Else, released for Apple’s iPad tablet this

Mystery Price Movement Drives Bitcoin Upwards

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Just a couple of minutes ago the Bitcoin price started to move upwards. As you can see from the Bitcoin price chart to the right, the price has taken a leap from around 595 USD per Bitcoin to reaching a high of 618 USD, and

Silk Road’s Bitcoin Snapped Up by Mystery Bidder

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The US Marshals Service had one winner in its auction of nearly 30,000 bitcoin, a spokeswoman said on Tuesday, without revealing the name of the successful bidder. The US Marshals Service had earlier revealed that 45 bidders registered, each putting down a deposit of $200,000,

US Marhals Service Error Leads to Aussie Bitcoin Hack

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A mistake by the US Marshals Service has led to Melbourne-based bitcoin arbitrage fund Bitcoins Reserve losing 100 bitcoins, valued at around $70,000, in a cyber-attack, according to co-founder Sam Lee. Lee’s contact details, along with the details of others interested in the auction of

Indicted Silk Road Bitcoin Entrepreneur Still In Demand

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For a person under house arrest, Charlie Shrem gets around. Two months after the bitcoin entrepreneur was indicted on charges of money-laundering and other crimes tied to his virtual-currency business, Mr. Shrem speaks at industry events, has been helping New York hotels prepare to accept

California Removes Bitcoin Ban

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Technically, all transactions using digital or alternative currencies had been illegal in California until Monday California lawmakers approved a bill Monday that lifted an outdated ban on the use of bitcoin and other alternative currencies, as more states seek to clarify and revise virtual currency

NZ Banks Deny Shutting Down Bitcoin

nz bank

The New Zealand Bankers’ Association is not aware of any problems with the local Bitcoin community getting access to banking services.

A Bitcoin ATM was shut down by its owner this week after claims the service could not get support from banks.

The Herald understands others in the New Zealand Bitcoin community have also run into difficulties with banks. A source told the Herald yesterday one Bitcoin start-up had its account closed.

Bitcoin Central operated a two-way Bitcoin ATM in Auckland’s Karangahape Rd, allowing users to buy and sell the digital currency for cash.

The ATM was launched last month but a message on Bitcoin Central’s website says the machine has now shut down.

“Unfortunately, despite complying with all the legal requirements we have been unable to secure banking facilities. Without these the Bitcoin ATM business cannot operate long-term,” it said.

“The negativity from the banking sector to Bitcoin also threatens the ATM owner’s other businesses.”

It was prudent to shut the ATM down, Bitcoin Central said.

Bankers’ Association chief executive Kirk Hope said he was not aware of the issue or of any difficulties Bitcoin start-ups had with banks.

“I think the reason that they would be struggling to get access to banking services is because of the Government’s anti-money laundering regime and the level of risk they pose under that regime.”

Bitcoin Central’s Mike Steeneveld could not be contacted yesterday but on the social media site reddit said he had been “fully compliant” with money-laundering and terrorism laws.

Source: http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11301049

Igot to Protect Users from Bitcoin Volatility

igot 1

Recently, Igot, an Australian bitcoin exchange has been able to overcome a big hurdle associated with facilitating the trading of the digital currency, and that hurdle is volatility. Igot customers can now buy and sell when the trading prices are as per their expectations by setting specific price points for automatic trades.

The newly introduced Future Trade feature has brought about greater usability and fairer pricing. Before the introduction of this feature, customers had to keep an eye on the ongoing variation in the bitcoin market and among different exchanges. The fluctuations in market trading price can discourage first time users and they can end up in a losing situation.

The fluctuations and variance in pricing between exchanges can be daunting. The bitcoin world has received growing public interest, but people who have just stepped into this field can end up losing money due to the fluctuations. The Future Trade feature has fully addressed this issue.

Now the exchange rate will only be updated when the bitcoin market-trading price matches a user’s determined price for buying or selling. The users can remain confident and can even be aware of the expected outcome from their queued up trades. The Future trade feature provides a valuable safeguard against volatility, and gives Igot customers more control over their financial decisions.

Source: http://paymentweek.com/2014-7-28-igots-future-trades-set-to-safeguard-customers-from-bitcoin-volatility-5228/

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