Latest Bitcoin Headlines

Coinmall Hopes to Build an Ebay for Digital Goods Powered by Cryptocurrency

Bitcoin.com - 49 min 32 sec ago

This week we looked at a new cryptocurrency-based marketplace called, Coinmall.io, a platform that allows users to purchase digital goods with bitcoin and litecoin. Further, news.Bitcoin.com discussed the marketplace platform with its founder, Yousef Abdulhassan, who explains the project recently launched its alpha version this month.

Also Read: Increased South African Bitcoin Adoption Highlights Need For Taxation Clarity 

Coinmall Launches Alpha Marketplace Offering Digital Goods for Cryptocurrencies

Coinmall’s founder Yousef Abdulhassan explains that his new marketplace is a global, pseudonymous, and free market where users can buy and sell digital goods for cryptocurrencies. Abdulhassan and the Coinmall team hope the platform becomes the “eBay for digital goods, powered by cryptocurrencies.” Abdulhassan founded and incorporated the startup in October of 2016 and launched a bare-bone MVP version of Coinmall in January of 2017 to see if there was any interest in the service. The marketplace operator explains there was interest stemming from both the bitcoin and litecoin communities, so they launched the alpha release this month.

“Our users are able to transact any type of digital product on Coinmall, such as: downloadable products, licenses/keys, digital services, off-site products and anything in between,” Abdulhassan explains to news.Bitcoin.com. “We currently accept bitcoin and litecoin, with more cryptocurrencies being added soon. But this depends on the community’s demand in regard to which cryptocurrency they’d like to see implemented.”

          Coinmall Believes It’s Better Positioned Than Decentralized Alternatives

Coinmall does think it is a competitor to decentralized alternatives like Openbazaar. Abdulhassan says by using Coinmall, it’s easier to access due to the fact that you don’t have to download any programs and resolve complex errors. In Abdulhassan’s opinion, Coinmall’s target audience and reach is bigger than alternatives that he believes are difficult to access.

“Our marketplace is also a lot more convenient to use thanks to the fact that it is centralized,” Abdulhassan details. “For example, we are able to perform off-ledger transactions, and as such are able to support the purchase and sale of extremely low-value products.”

These low-value products can’t be sold on decentralized platforms since the transaction fees or moderator fees would be too high.

Free Listings, No Vendor Restrictions, and Escrow

Additionally, Abdulhassan thinks with cryptocurrency his startup skips over a lot of friction as ordinary centralized marketplaces have to invest a lot of money on fraud-prevention. Moreover, payment processors and traditional marketplaces can restrict a particular vendor’s account, and Coinmall says they aim to put a stop to vendor discrimination.

“We solve all of these problems by providing a freely accessible marketplace which doesn’t restrict users, and we completely remove the risk of fraud and chargebacks by utilizing non-reversible cryptocurrencies such as bitcoin and litecoin. Alongside having an escrow system in place, we protect buyers on Coinmall in case of malicious vendors or products not being delivered.”

With the Alpha release finished, Coinmall’s founder says most of the hard work is done. The startup does plan to add more features and also aims to develop services not seen on any other marketplace platform.

“One such example is ‘Community Escrow,’ a system where users apply to become an escrow and mediate in disputes in exchange for a small compensation,” Abdulhassan explains to news.Bitcoin.com.

What do you think about Coinmall? Let us know what you think in the comments below.

Disclaimer: Bitcoin.com does not endorse nor support this product/service.
Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images via Shutterstock, and Coinmall.io.

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Zimbabwe News – Bitcoin Selling at Twice Global Dollar Average

Bitcoin News - 1 hour 29 min ago

Emilio Janus · October 19, 2017 · 8:30 pm <!– Excerpt Following over a decade of economic turmoil, Zimbabweans are turning to bitcoin for some financial stability. Yes, you read thatcorrectly! I mean, seriously, just how messed up is that? As a result, bitcoin is reportedly selling in the capital, Harare, for almost double the […]

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Star Jets International Now Accepts Bitcoin Payments

Bitcoin.com - 2 hours 49 min ago

Star Jets International LLC now accepts bitcoin payments for private jet flights. The company is a wholly owned subsidiary of Advanced Defense Technologies, Inc. Customers who use Star Jets get to leverage all the advantages of using a corporate jet, according to an Econotimes article

Also read: Bitcoin Cash Developers Propose New Address Format

Furthermore, customers have access to over 5,000 jets domestically and roughly 15,000 across the globe. The company allowing bitcoin transactions may now open up a new realm of possibilities for the company along with a new customer base.

Bitcoin is Becoming Increasingly Accepted

The CEO of Star Jets, Ricky Sitomer, mentioned bitcoin is becoming a more widely adopted method of payment and their company would be remiss not to get involved. He elaborated:

Bitcoin is becoming an increasingly accepted method of payment and we want our customers to have the flexibility to pay via that medium of exchange.

The company also unveiled they are removing the “stop sign” on their stock. They are doing this partly by changing their company name to Star Jets International, Inc.

Along with accepting bitcoin, these steps seem geared toward increasing the profitability of the company and keeping it competitive in the digital age.

Aviation and Bitcoin Acceptance

Overall, there have not been many large players in the aviation or commercial flights industry to begin accepting bitcoin. The mood appears to be changing, though. Back in May, Japanese airlines Peach Aviation began accepting bitcoin payments. News.bitcoin.com covered the story.

“Bitcoin is surging in Japan in regards to popularity and trade volume, since the country legitimized the digital currency as a legal form of payment this past April. Now one of Japan’s largest discount airline providers Peach Aviation Ltd. has announced it will be the first Japanese service to accept bitcoin for airline tickets.”

As for private jet companies, Star Jets is one of the few that accept bitcoin. Prior to them, privatefly.com out of the UK also began accepting it. Hopefully, more private flight businesses will began allowing customers to transact with the digital currency.

What do you think about Star Jets accepting bitcoin? Is it good that more private jet companies are getting involved with bitcoin? Let us know what you think in the comments below.

Images via Shutterstock and Star Jets

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XRP Consolidates Inside Ichimoku Cloud Against Major Counterparts

NEWSBTC - 3 hours 6 min ago

After dropping from a key resistance level the beginning of the week, Ripple’s XRP was mostly indecisive on Thursday. XRP/USD and XRP/EUR tested above the upper band of the daily Ichimoku cloud. However, they ended the day inside the cloud, as they both formed a spinning top candlestick pattern. The pivot point for XRP/USD is … Continue reading XRP Consolidates Inside Ichimoku Cloud Against Major Counterparts

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Bitcoin Price Analysis: Potential Wyckoff Distribution May Spring New All-Time Highs

Bitcoin News - 3 hours 28 min ago

A potential Wyckoff Distribution phase is under way as bitcoin continues to climb on shaky ground. Days after having a strong $1,000 climb and nearly reaching $6,000 on most exchanges, we saw a strong rejection of the upper limits of the market as it plunged $600 over the course of a few short hours. Let’s […]

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Is Blockchain Worth the Trouble? Blythe Masters (and More) Say Yes at Sibos

Bitcoin News - 3 hours 28 min ago

Building with blockchain is tough – for every problem the tech promises to solve, it seems another pops up. But if you take the advice of former JPMorgan Chase executive and Digital Asset CEO Blythe Masters, it’s worth all the fuss. Speaking on a panel today at Swift’s annual Sibos conference in Toronto, Masters emerged from a […]

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Protect and Monetize Your Browsing Data with Protex

Bitcoin News - 3 hours 28 min ago

Data is king – and each one of us produces some. Tech giants such as Facebook and Google have been able to provide a plethora of free services by monetizing the data aggregated from these platforms. Facebook, Messenger, Gmail, YouTube, are all products that we are able to use for free from the monetization of […]

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E-Chat Pre-ICO: First Decentralized Messenger with Capabilities of a Multi-currency Crypto-Wallet

Bitcoin News - 3 hours 28 min ago

E-Chat Pre-ICO: First Decentralized Messenger with Capabilities of a Multi-currency Crypto-Wallet October 19, 2017 BST | lvnadmin On October 16th, a Hong Kong start-up, developing a decentralized multi-task e-Chat messenger, announced the start of pre-ICO! At the moment, e-Chat is already a working application, the potential audience of which accounts for more than 3 billion […]

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Slotland Online Gaming Site Now Offers Bitcoin Deposits and Withdrawals

Bitcoin News - 3 hours 29 min ago

Popular online gaming site, Slotland, just announced they are offering deposits and withdrawals in bitcoin for gaming purposes. The company processes bitcoin deposits immediately, withdrawals by the next business day. Furthermore, it is the site’s 19th birthday and they added a new game along with other bonus features.  Also read: Bitmex Exchange and Samourai Wallet Details […]

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The First Decentralized Multi Task e-Chat Messenger Pre-ICO Begins!

Bitcoin News - 3 hours 29 min ago

On October 16th, a Hong Kong start-up, developing a decentralized multi-task e-Chat messenger, announced the start of pre-ICO! At the moment, e-Chat is already a working application, the potential audience of which accounts for more than 3 billion people! The market already has a large number of instant messengers, but e-Chat has a range of […]

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Highly-respected and Vocal BitGo Engineer Targeted with SWAT Prank

Bitcoin News - 3 hours 29 min ago

On October 16, Jameson Lopp, the lead engineer for BitGo and a highly respected figure within the cryptocurrency sector, fell victim to a cowardly attack which involved him looking down the barrell of a rifle and a false hostage situation report. In an interview with TechCrunch, Lopp revealed that the attack led the local police […]

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A Look at Five Different Cryptocurrency Hardware Wallets and Prices

Bitcoin News - 3 hours 29 min ago

As bitcoin and alternative digital currencies grow more valuable, the demand for hardware wallets has grown significantly. Currently, there are a lot more options than when the first bitcoin hardware wallets came out and a lot more features. Here’s a look at some of the most popular cryptocurrency physical storage devices out on the market […]

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Why Ethereum Entering the Valley Will Be Powerful – Influencive

Bitcoin News - 3 hours 29 min ago

There is a lot of attention lately talking about Bitcoin gaining over 700% in 2017, posting a record high last week of over $6000 USD, but I wanted to shed some light on the second biggest cryptocurrency in the world that has a market cap of over $30 Billion; let me introduce you to Ethereum. […]

The post Why Ethereum Entering the Valley Will Be Powerful – Influencive appeared first on The Bitcoin News - Leading Bitcoin and Crypto News since 2012.

Highly-respected and Vocal BitGo Engineer Targeted with SWAT Prank

btc manager - 3 hours 34 min ago

On October 16, Jameson Lopp, the lead engineer for BitGo and a highly respected figure within the cryptocurrency sector, fell victim to a cowardly attack which involved him looking down the barrell of a rifle and a false hostage situation report.

In an interview with TechCrunch, Lopp revealed that the attack led the local police department to shut down most of his neighborhood to investigate the incident with “dozens of patrol units, a SWAT team, mobile command post, a fire truck, and paramedics.” While Lopp gave reassurances that the police were able to deal with the incident, he noted that it was “a huge waste of public resources.”

A Personal Attack Launched by Bitcoin Supporters With Opposing Views?

Many experts, investors, and users within the Bitcoin community were saddened by the incident and the attack that was made against Lopp, who has been an important figure in the space for many years. Bitcoin Core developer BTCDrak, EtherPlan founder Donald McIntyre, Bitex partner Santiago Siri, Yours CEO Ryan X. Charles, Ethereum co-founder Hudson Jameson, and many others community expressed their compassion for Lopp, and offered any assistance he may need to cope with the situation.

In response, Lopp stated:

“Thankfully, it ended without an incident. It’s a price you have to be willing to pay when becoming an outspoken public figure.”

A substantial portion of the Bitcoin community was particularly angered and saddened by the fact that someone within the Bitcoin ecosystem had likely planned such a senseless act on a public figure, merely because of Lopp’s viewpoint toward the Bitcoin block size debate.

Although Lopp told TechCrunch that he cannot conclude with absolute certainty that the attack was carried out due to his philosophy on Bitcoin and scaling debates, he explained that similar attacks had been carried out against prominent Bitcoin experts, investors, and public figures.

“Same old same old: Bitcoin philosophy and scaling debate arguments. A few of the more extreme cases think I’m some kind of manipulative monster. The attacker never made any references to my public debates, so it’s not a certainty that they were motivated by them. They may simply want to extort me, similar to what has happened to several other prominent Bitcoin folks,” said Lopp.

Why Such an Incident Does Not Benefit Anyone in Bitcoin

Many individuals and organizations within the cryptocurrency community have opposing viewpoints on what cryptocurrencies should be, should offer, and how they should be structured. Even within the Bitcoin industry, there are several communities that oppose the philosophies of one another. In November, within a month from now, a group of companies, developers, and miners that oppose the views of Bitcoin Core is set to create another fork, known as SegWit2x.

Pseudonymous aliases and identities in the cryptocurrency development communities have their advantages (as well as obvious drawbacks); they allow discussions and developments to be facilitated in a truly open-source and peer-to-peer manner, as to how Satoshi Nakamoto, the creator of Bitcoin, envisioned the cryptocurrencies to operate.

Bitcoin and other cryptocurrencies are trying to compete with the global banking systems and existing authorities to provide an alternative decentralized system for the general public. It is of the utmost importance and benefit of the entire community that cryptocurrency users, investors, businesses, developers, and miners look out for each others’ interests and proceed with developments in an efficient, transparent, and secure way.

Incidents such as the recent threat that was made toward an important figure for the cryptocurrency community could discourage the maturation of the Bitcoin and cryptocurrency industries, with outsiders looking in perhaps put off by the toxicity of the debates. Such incidents should not reoccur for the benefit of everyone within Bitcoin and the protocol itself. While Lopp stated he was not intimidated, attacks like this may become worse and risk intensifying the schism in the community even further.

The post Highly-respected and Vocal BitGo Engineer Targeted with SWAT Prank appeared first on BTCMANAGER.

The First Decentralized Multi Task e-Chat Messenger Pre-ICO Begins!

NEWSBTC - 4 hours 5 min ago

On October 16th, a Hong Kong start-up, developing a decentralized multi-task e-Chat messenger, announced the start of pre-ICO! At the moment, e-Chat is already a working application, the potential audience of which accounts for more than 3 billion people! The market already has a large number of instant messengers, but e-Chat has a range of … Continue reading The First Decentralized Multi Task e-Chat Messenger Pre-ICO Begins!

The post The First Decentralized Multi Task e-Chat Messenger Pre-ICO Begins! appeared first on NEWSBTC.

Boulé brings voting to the Blockchain with upcoming ICO

NEWSBTC - 4 hours 19 min ago

Boulé is a pioneering new voting system using blockchain technology to enable governments and electoral bodies to run secure, transparent elections. This revolutionary e-governance tool hopes to make electoral processes visible to all citizens, provide 100 percent accurate results, increase voter turnout and produce faster, cheaper and safer elections. Strengthening democracy “So many areas of … Continue reading Boulé brings voting to the Blockchain with upcoming ICO

The post Boulé brings voting to the Blockchain with upcoming ICO appeared first on NEWSBTC.

Cointed Token ICO – starts in under 24 hours

NEWSBTC - 4 hours 30 min ago

The established crypto company Cointed Ltd. will start its own ICO on 20.10.2017 to collect an extra budget of 120 million Dollars. With these funds, the internationalization of the company is to be further advanced. What makes the Cointed ICO Token so unique? Cointed does not merely present an idea that is to be implemented … Continue reading Cointed Token ICO – starts in under 24 hours

The post Cointed Token ICO – starts in under 24 hours appeared first on NEWSBTC.

How to Obtain B2X Safely Upon the SegWit2x Hard Fork in November

btc manager - 4 hours 37 min ago

The SegWit2x hard fork is expected to occur in mid-November of 2017. Inevitably, if the hard fork is executed within the next month, it will lead to a split chain and the creation of another fork of Bitcoin. This guide details some ways you can prepare for the split.

How Will Leading Bitcoin Exchanges Address SegWit2x Hard Fork in November?

Leading Bitcoin exchanges and wallet platforms including Coinbase and Bitfinex, the world’s largest Bitcoin wallet platform and exchange, have announced that their plans to implement support for SegWit2x in November. Coinbase and Bitfinex will list SegWit2x as B2X, and the “BTC” moniker will be used for the original Bitcoin blockchain.

Upon the SegWit2x hard fork in November, users of most leading Bitcoin exchanges and wallets such as Coinbase, GDAX, Bitfinex, and Blockchain will be credited with B2X.

The SegWit2x hard fork is fundamentally different from the Bitcoin Cash hard fork in September. Last month, companies like Coinbase and Blockchain received significant amounts of complaints from users requesting support for BCH. Coinbase customers went as far to appoint a law firm to challenge the decision of Coinbase not to list BCH on its platform in court.

Consequently, both Coinbase and Blockchain announced their plans to list Bitcoin Cash. But, the two companies received criticism from users for their decision to integrate Bitcoin Cash support months after the fork occurred. At the Coinbase development team stated:

“Over the last several days, we’ve examined all of the relevant issues and have decided to work on adding support for bitcoin cash for Coinbase customers. We made this decision based on factors such as the security of the network, customer demand, trading volumes, and regulatory considerations. We are planning to have support for bitcoin cash by January 1, 2018, assuming no additional risks emerge during that time.”

But, as Litecoin creator and former Coinbase executive Charlie Lee stated, Coinbase and other leading Bitcoin companies such as Blockchain and Bitfinex cannot handle the SegWit2x hard fork in November as they did with Bitcoin Cash because it would most likely debut with majority support from miners. Since SegWit2x was proposed as a supposed “update” to the Bitcoin protocol with majority hash rate support, companies will not be given the freedom and flexibility to integrate SegWit2x support months after the fork occurs in November.

As Lee explained:

“Choosing to support only one fork (whichever that is) would cause a lot of confusion for users and open them up to lawsuits. So Coinbase is forced to support both forks at the time of the hard fork and needs to let the market decide which is the real Bitcoin.”

Therefore, users should expect every major Bitcoin exchange and wallet platform in most regions to support SegWit2x. So far, the following companies have announced support for SegWit2x; Coinbase, Bitfinex, Blockchain, Xapo, Korbit, Coins.ph, BTCC, BTC.com, and BitFlyer.

An interesting strategy for the Bitcoin Cash split was to use the different policies of various exchanges to open up arbitrage opportunities. For example, Kraken adopted Bitcoin Cash whereas BitMex ignored the cryptocurrency. The divergence allowed some clever people to gain from opening a margin trade; namely one bitcoin long on Kraken to be credited one BCH. Also, to hedge this position, a one bitcoin margin short could also be initiated on BitMex. Following the hard fork, an arbitrage as described above would have resulted in obtaining 1 BCH for free, as there was no BCH liability for the short conducting using BitMex. A more detailed guide outlining arbitrage opportunities for the upcoming SegWit2x hard fork can be found here.

Letting an exchange deal with the split has an advantage in that you will be able to seek market opportunities quicker than others who have not prepared. Since you will have access to both BTC and B2X quickly, you might be able to make better investment decisions.

Bitcoin Companies That Had Not Signed NYA May Not Run the Software

But, as Jimmy Song, Bitcoin developer and principal architect for Paxos stated, companies that previously had not signed the New York Agreement (or SegWit2x) could refrain from running the software.

“The notable companies that aren’t obligated to run Segwit2x are BlockStream, Chaincode Labs, BitGo, Poloniex, BitStamp, Bithumb, Kraken, and Gemini. As they have not signed the agreement, they are not obligated to follow it,” Song explained.

Hence, for Bitcoin exchange users, it would be the most practical and secure to confirm if the exchange will implement SegWit2x support in November or ensure that they are in control of their private keys (via a full node, hardware wallet or other non-custodial service) so they can access their B2X at a later date. Alternatively, users can simply move their funds to Bitcoin wallets that do plan to support SegWit2x in November, such as Blockchain.info.

This article will be updated as, and when, more information becomes available.

The post How to Obtain B2X Safely Upon the SegWit2x Hard Fork in November appeared first on BTCMANAGER.

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