How To Redeem Bitcoin Voucher CryptoCoins Info Club

HeyTip.me is back! The easy way to give away some NANO to strangers

Due to popular demand, I revived https://heytip.me
It's a website where you can create redeemable voucher codes in large quantities and deposit the value in one lump sum.
Unlike a similar service called NanoMate, there's no email address involved, no captcha, much shorter redeem links, human readable codes, a live preview, no fees, customizable text, auto refunds for unclaimed funds, and you can create multiple vouchers of various amounts at once.
There are 3 ways to give away NANO with these vouchers:
Therefore it's compatible with literally any messaging service and all social media, but most of all you can give them away offline. All without the risk of burning funds because the funds are not held on actual paperwallets. The recipient is urged to create a nano wallet on their own. The expiration deadline serves as a motivator to not slack on finances.
They will have to learn how to create a wallet and how to paste their address. It's like an invite-only faucet where the payouts are worth more a little more, so it's an actual incentive to look into crypto. By having them create a wallet and give them the experience of receiving funds, they won't ever want to deal with slow crypto.
I deliberately chose not to include dollar value anywhere. That might change in the distant future. It's still a proof of concept for now. The service comes under absolutely no warranty. There certainly is a lot of improvement potential. If you want a custom redeem site, i might create one for you.
Links to other, similar services
https://www.reddit.com/nanocurrency/comments/8fnwds/you_can_now_send_nano_via_any_messaging_service/ (in action: https://youtu.be/qSsIXy-NimE )
https://www.reddit.com/nanocurrency/comments/84q6ct/watch_how_to_send_nano_to_anybody_using_a/
https://news.bitcoin.com/express-your-gratitude-with-bitcoin-coms-new-tip-generato
https://gifts.bitcoin.com/
https://steemit.com/crypto-news/@ftlian/printable-dash-tips-announcing-the-cryptotip-org-public-beta
https://www.bctip.org/en/statistics/
Some of them even sell it
https://www.bitnovo.com/bitcoins-voucher-redeem-en
https://www.bitpanda.com/en/togo
submitted by renesq to nanocurrency [link] [comments]

My Beermoney sites I've been using, thanks to these subreddits.

Hello everyone, I’ve been a lurker on this subreddit and a few others for awhile now, I’ve always loved it when people post a list of the sites and apps they use, most of the sites that I’ve found and use regularly have been from subreddits like this, which I’ve used quite a few referrals and I’m very grateful, so I thought other people may appreciate it if I share mine.

Firstly, I recommend doing all these sites on Brave Browser (The only Bitcoin site on the list)
Brave Browser | Minimum Payout: 0 | (Non-Referral) | (Referral)

Surveys, Offers, Daily Tasks, Searches etc
Swagbucks | Minimum Payout: £3 | (Non-Referral) | (Referral)
Earn points when you shop at your favourite retailers, watch entertaining videos, search the web, answer surveys and find great deals.
OhMyDosh | Minimum Payout: £10 | (Non-Referral) | (Referral)
To earn money with OhMyDosh! Just look through the site and take any offers that are of interest to you, my favourite section is the no spend section and getting paid for activating free trials.
Spider Metrix | Minimum Payout: $30 | (Non-Referral) (Referral)
I like this survey site mainly for the very short surveys, you do get longer surveys as well, but I tend to stay away from long surveys in general.
Microsoft Rewards | Minimum Payout: £5 | (Non-Referral)
Get rewarded for doing what you love with Microsoft Rewards. It's simple, win free stuff by searching, shopping, and gaming with Microsoft. You can even earn points for fun activities like taking quizzes and polls.
Time Bucks | Minimum Payout: $10 | (Non-Referral) (Referral)
TimeBucks is a reward site that pays you to do Surveys, View Funny Photos, Watch Videos, Install Apps, Play Games and more! TimeBucks helps people pay extra bills and earn extra cash online.
I Say | Minimum Payout: £5 | (Non-Referral) (Referral)
You earn i-Say points when you complete surveys and can redeem your accumulated points for PayPal cash, gift cards, and as a Virtual Visa Prepaid card.
Rewards 1 | Minimum Payout: $5 | (Non-Referral) (Referral)
Take surveys and get paid Amazon Gift Cards, Paypal Cash, Bitcoin and more.

Addons and Extensions
UpVoice | Minimum Payout: $5 | (Non-Referral) | (Referral)
Add the UpVoice extension to your browser and earn passive income.
Serpclix | Minimum Payout: $5 | (Non-Referral) | (Referral)
SerpClix is an extension that pays you to make a Google search and click on a particular result.
Qmee - | Minimum Payout: £0 | (Non-Referral) | (Referral)
Qmee allows you to share your opinions through surveys tailored to you, as well as earn instant cash rewards when shopping and searching online.

Watching Videos
FruitLab | Minimum Payout: £5 | (Non-Referral) | (Referral)
With FruitLab you receive PIPS, which you can then spend in the FruitLab Shop buying digital vouchers and merch.
Hideout TV (Non-Referral) | (Referral)
You can earn rewards points watching videos. You can then redeem your credits via the partner's platform (Swagbucks, InstaGC, PrizeRebel, GG2U, Gain.GG etc).

Cashback
TopCashback | Minimum Payout: £1 | (Non-Referral) | (Referral)
TopCashback pays out a portion of the cashback it receives from the merchant, it's able to do this because it passes on a little of the bonuses it gets for generating lots of sales. My preferred cash back site.
Quidco | Minimum Payout: £1 | (Non-Referral) | (Referral)
Same as above, but sometimes the cashback is better on Quidco than TopCashBack.

Apps
Receipt Scanning
Huyu | Minimum Payout: £5 | Android | Apple (Referral Code: Currently no referral code)
Scan receipts and answer surveys for real rewards, like shopping vouchers. It’s the fair way to share your data.
Shopprize | Minimum Payout: £5 | Android - (Referral Code: x6ueu)
Shopprize is a receipt scanning app that will reward you for submitting photos of your receipts, most of the time you will be on a waiting list, but I strongly recommend that you put your email down, it's well worth it when you get accepted.
SnapMyEats | Minimum Payout: £10 | Android | Apple
SnapMyEats is an easy to use app where you can earn great rewards just for taking online and offline surveys and snapping pictures of receipts from your food.
Shoppix | Minimum Payout: £5 | Android | Apple
Snap your receipts to collect tokens and view all of your receipts in one handy place. Exchange your tokens to claim rewards from your favourite retailers.
Receipt Hog | Minimum Payout: £3 | Android | Apple
Receipt Hog is a fun and rewarding way to turn receipts from everyday shopping into cash - no matter where you shop or what you buy!
ZipZero | Minimum Payout: £0 | Android | Apple
ZipZero gives you 0.5% of the value of any purchase every time you snap a photo of your receipt, ZipZero does not pay you in cash, but rather, it will pay your bills.
Shopmium | Minimum Payout: £0 | (Android) | Apple (Free can of pringles when using my Referral Code: en3et5)
The app uses your location to provide offers from supermarkets nearby. It's a three-step process: Buy the product. Upload a picture of your receipt and get cash back, some offers even give you 100% cashback.
Checkout Smart | Minimum Payout: £1 | Android | Apple
Earn cashback in cash rewards from your favourite brands by simply snapping a photo of your supermarket receipt and uploading to CheckoutSmart, some offers even give you 100% cashback.
Green Jinn | Minimum Payout: £1.50 | Android | Apple
Earn Cashback with GreenJinn on your in-store & online shopping at different stores,
some offers even give you 100% cashback.
Click and Snap | Minimum Payout: £1 | Android | Apple
Owned by Quidco, earn cashback in cash rewards from your favourite supermarket brands with ClickSnap

SMS
McMoney | Minimum Payout: $5 | Android APK | (Referral Code: 8BTB2DZD)
Get paid real money for helping McMoney improve worldwide communication. All you have to do is receive text messages on your mobile phone once in a while.

Others
BigCash | Minimum Payout: $15 | Android | (Referral Code: folytnnc)
BigCash allows you to earn real money or Free gift cards by downloading free apps, games or completing surveys
Sweatcoin - Android | Apple | Non-Referral
Sweatcoin converts your steps into a new digital currency called "sweatcoins". Spend sweatcoins earned on goods, services and experiences with our vendor partners or other users, donate to charity or exchange them with your friends and family for whatever you fancy.
Google Opinion Rewards | Minimum Payout: £0 | Android | Apple
Answer quick surveys and earn Google Play credit with Google Opinion Rewards, an app created by the Google Surveys team.
submitted by MiikeyDay to beermoneyuk [link] [comments]

MyBTC.ca Offers Unique Payment and ID Verification Methods

With crypto on the much anticipated rise again, we thought to remind the community, and this subreddit, that MyBTC.ca offers unique payment and ID verification methods not offered by other Canadian exchanges and brokers.
In addition to the ultra popular e-Transfer payment method to buy Bitcoin in minutes, we also offer in-person MyBTC.ca account funding with Cash or Interac Debit directly at Canada Post offices or their locations within Shoppers Drug Mart stores Canada-wide. This is a great option for those that have cash on hand or have maxed their Interac e-Transfer limits and want to heavy-up on the current market opportunities by getting more Bitcoin using their debit card — which has separate buying limits.
Direct link: https://mybtc.ca/buy-bitcoin-in-person-canada
In-person Payment FAQ: https://mybtc.ca/faq#faq-11
For users who prefer not having to leave the comfort of their home or office desk to buy from a Bitcoin ATM or wait in line to send a bank wire from your local financial institution’s branch, you can buy Flexepin vouchers on TopMeUp.ca with Visa and Mastercard debit cards and then redeem the value instantly on MyBTC.ca 24/7 — making it another great option for those who want more crypto than their Interac e-Transfer limits support.
Direct link: https://mybtc.ca/buy-bitcoin-with-flexepin-canada
Flexepin FAQ: https://mybtc.ca/faq#faq-9
Lastly, for individuals who are more privacy conscious and would prefer not having to take and submit photo or files of their government issues IDs online, MyBTC.ca provides the ability for you to get verified in-person at Canada Post by presenting a unique barcode, generated by our platform’s integration with their Digital Proof of Identity Product, along with your ID for the post office clerk view and send a validation notification to our platform — which unlocks the ability for you to buy Bitcoin.
In-person Verification FAQ: https://mybtc.ca/faq#faq-12
If you have any further questions or require assistance with the aforementioned options, feel free to text, email, Facebook message or call. https://mybtc.ca/contact
submitted by MyBTCca to BitcoinCA [link] [comments]

Adult entertainment trough Devil´s Dragon Token

Adult entertainment trough Devil´s Dragon Token
Hello everyone, In this post I would like to talk about some of the DDGN Token features and company achievements.
https://preview.redd.it/of2xxl7gxtg51.png?width=640&format=png&auto=webp&s=b2ed2316a60511260102feb5f1a77750ff0c2c58
The company aims to revolutionize adult entertainment trough blockchain innovations presenting the opportunity to the user to be an active participant in this field using the Ecosystem. DEVIL´S DRAGON TOKEN is fully decentralized autonomous and encrypted. It offers the option to share, publish, and earn through selling, trading, exchanging, and utilizing the features of its ecosystem. A unique multi-use cryptocurrency with many active sites bringing new business models to life and disrupting the high set price of contemporary adult entertainment. DEVIL´S DRAGON TOKEN is a Ethereum based token that will be able to be used with any other Blockchain project or technology that is already operating.
DDGN is used on active sites to access related and wanted content. The full list can be found on the website by clicking on “Sites” or scrolling down. https://www.devilsdragon.com
TOKENOMICS. (ICO Information / Token Economy) Token name: DRAGON DEVIL Token Symbol: DDGN - Supply Token: 180 000 000 NOT MINTABLE Decimal: 18 - Token type: ERC20 CURRENT STATUS: Under Crowdsale with 5% PRE-SALE Token value 2000 DDGN = 1 ETH for PRIVATE - ONLY PRESALE In ITO sale the rate will be 1000 DDGN = 1 ETH START PRESALE: 2020-08-15 00:01 END: 2020-08-31 23:59
!Please note that only Ethereum is accepted. This will ensure transparency and prevent any fraudulent activities that may impact the value of the coins negatively!
Token Allocation: • Presale (PRIVATE SALE) 5% (All unsold tokens will be burned) • Crowdsale 55% (All unsold tokens will be burned) • Team & Partners 9% (Only used for new partnerships and strengthen the Team) • Reserved 6% (For Exchange and Legal Purposes) • Ecosystem 18% (Only used on our platforms like us write in our White Paper) • Development Team 2% (Used only for development and purposes none of these tokens will be sold) • Founder 4% (Used for administrative, regulatory and internal ecosystem needs only) • Ext Developer 1% (Non-Team Developers to be used for Testing and other Development Purposes on all Ecosystems and their features).
At this point DDGN is already listed on MyCryptoCheckout.
https://preview.redd.it/zgif2u4jxtg51.png?width=640&format=png&auto=webp&s=5ac7e157e30e1b15b5a7201370d3437deced898c
The ways to earn will be further possible by rewards and revenue sharing, live broadcasts, moderating content for the approval or disapproval of forum posts, mining for content, and arranging unused hard disk space. These are set just at the start point. The potential of the new features immense.
Presented Roadmap looks great: • Early 2018. KISSES TECH Established as a Czech Company (February) • Between the beginning of 2018 and the end of 2019. Fixed Adult Entertainment Coin + Many other projects related to Adult Entertainment and Blockchain to evolve and gather together: DDGN • Early 2020 Launch of the DDGN Project • Mid 2020 Launch of ETHpimp Q3 2020 ITO DDGN • Late 2020 Alpha version of the DDGN Dedicated Video Platform with a Decentralized Prize Service for Display and Manufacturing works with DDGN. On this platform the goal is to use a few supporting protocols such as ERC721 to make the videos like unique fine art creations. Luring a new business model which is fairer and more transparent. More Active Sites and More Partners for Ecosystems Alpha Version and Initial Registration First Delivery of Crowd Content Funding Network with Prizes & Decentralized Direct Revenue Sharing on the Stock exchange list
• Early 2021 DDGN Platform Beta Version Dedicated Videos that Live Immediately with Real Rewards and Share Earnings for Views & Creations CDCFN.COM Fully Active with the Distribution of Live Prizes and Adding New Sites to the Ecosystem makes DDGN more rare, enjoyable, and valuable to everyone involved.
Also surfing the blog (https://www.devilsdragon.com/blog) I found very interesting facts about CDCFN (Content Delivery Crowd Funding Network): www.cdcfn.com
A forum like website on which people share their original content and earn rewards in DDGN (Devil´s Dragon) Earned DDGN, as mentioned before will be available for exchanging to Bitcoin, Ethereum or other currency. The platform has a members shop, too, where members can earn and spend their earned tokens (DDGN) they gained from the site. Members Shop is integrated to work along side loads of other applications & plugins. Below is presented DDGN Tokens Earning System
  1. Forums - will allow member to earn tokens for starting topics, replying to other topics or to their own one.
  2. Downloads – Earning by uploading files on the platform, reviewing, commenting. Also receiving tokens for each download of their uploaded file.
  3. Calendar – Earning by submitting events, reviewing and commenting on the events.
  4. Gallery - Allowing members to earn for uploading images, reviewing and commenting on images.
  5. Commerce – Earning for a review on a product
  6. Reactions - Allowing members to earn DDGN Tokens for receiving reactions from their content.
  7. Clubs - Awarding users for joining a club and creating topics, replying and uploading files in clubs.
  8. Media Uploader - Awarding DDGN Tokens to users for uploading documents, images, audio and video files.
  9. Bonus DDGN Tokens – Awarding users on a daily, weekly and monthly basis. The user will have to log in at least on time in that period.
  10. Award DDGN Tokens - Awarding DDGN to your selected members or user groups via the ACP. On the user profile a section will be possible to add showing the amount of DDGN and a link to donate. The platform will have integrated Warning System which penalizes members if they receive a warning by removing DDGN tokens and setting different amounts of DDGN for different warn reasons. Members Shop Items – allowing members to spend their tokens Each item can be created unlimited times and admins can select different prices and permissions Creating categories to place the items in Setting moderator permissions to allow certain members to buy items for free All items use their own code Each item can have its own permission settings to select what usergroups can view it, buy it or send it Members can sell back their unwanted items at a cost of a certain % of the items price admins will set in the ACP After a user stores an item it will store the rewards for that purchase, so say they store multiple items, then at a later time admins change the rewards for that item in the ACP, they will still receive the rewards set when they purchased the item The list of default items: • Opening a random post count mystery box • Opening a random reputation DDGN Tokens mystery box • Changing username • Changing member title • Adding or editing signature • Uploading an avatar • Opening a mystery DDGN Tokens box • Opening a mystery items box • Resetting users´ warning DDGN Tokens • Allowing members to go browse anonymous until their session ends • Viewing a password from a password protected forum • Playing Rock, Paper, Scissors, Lizard, Spock • Allowing users to pin topics for a selected amount of days • Allowing members to feature files for a selected amount of days • Upgrading usergroup for x amount of days, months or years • Gambling to win a random trophy from Trophy’s & Medals • Buying a trophy from Trophy’s & Medals • Buying a medal from Trophy’s & Medals • Guessing the number • Embedding a video to profile • Uploading an image to use as a background on profile • Sending a personal sticky note • Adding / Editing social info • Custom Codes / Vouchers / Coupons • Creating custom codes for members to purchase including game codes / voucher codes and so on • Once a user redeems this item they will instantly receive a PM with the code attached
List of custom items: • Each Custom Item has to be manually awarded to the members, it could be for a coupon code, it could be anything • Choosing to receive a notification or email saying x member brought x custom item and admins need to award it • Showing a table in the ACP with all custom purchases users have brought showing if the item has been awarded or not • Adding a block to the ACP dashboard with the total amount of items admins need to award manually
Statistics Pages : • Shows a statistics page with a graph of the global DDGN Tokens gained on platform per day / week / month • Shows another statistics page with a graph of the amount of shop items purchased globally and the global DDGN Tokens spent per day / week / month • Shows a 3rd statistics page with a graph of the global DDGN Tokens won using items what you gamble your DDGN Tokens with
Members Bank: • Allowing members to store their DDGN Tokens in a bank • Charging members to deposit their DDGN Tokens • Awarding interest to members each month on their banked DDGN Tokens • Members can view all their transactions in a nice and tidy pop up table • Showing a table in the ACP with all the members who have created a bank account • Showing a 3D pie chart in the ACP with the DDGN Tokens per member group • Showing a 3D pie chart in the ACP with the current interest to pay per usergroup • Showing a graph of the banks transactions from your selected time periods
ACP: • Showing a table listing all Normal items purchased with all the information of the item purchase • Showing a table listing all custom items purchased with all the information of the item purchase • Showing a table listing all custom code items purchased with all the information of the purchase • Showing a table listing all the membergroup upgrade items purchased with all the information of the upgrade, expire date
• Choosing what user groups can gain DDGN Tokens with-in the forums / downloads / reaction settings • Generating unique purchases • Showing the shop items in a nice and clean node table giving you the ability to drag and drop them to different categories and sort them in your preferred positions • Selecting the amount of items to show per page in the shop and items page • Choosing the select to view the shop page / items page / rewards & logs page from either a table view or a nice new grid view • If admins allow users to send items to others admins can select a % of the value of the item to charge the users to send that item • Picking to show either a category in the sidebar of show the categories in a filter button on the table itself • Adding a block to the ACP dashboard showing the amount of custom items admins need to award to the users
With that said, I would like to hear your opinion about the project and the features that the team provides for us!
All this information and much more can be found on the below links.
Website: https://www.devilsdragon.com/
White paper: https://www.devilsdragon.com/whitepaper.pdf
Blog: https://www.devilsdragon.com/blog/
ANN: https://bitcointalk.org/index.php?topic=5260322
Facebook: https://www.facebook.com/devilsdragonofficial
Twitter: https://twitter.com/dragon_devils
Discord: https://discord.com/invite/xCwyntG
Reddit: https://www.reddit.com/useDevilsDragon
Telegram: https://t.me/devilsdragon_official
E-mail: [email protected]
Company behind of DDGN Token and development of the platform is KISSES TECHNOLOGY (Group) s.r.o
About the author: Proof of authentication link - https://bitcointalk.org/index.php?topic=5260492.msg54989967#msg54989967 Bitcointalk Username - ijeb Bitcointalk URL - https://bitcointalk.org/index.php?action=profile;u=1668500
submitted by ijeblowrider to u/ijeblowrider [link] [comments]

adrop ducate

Hi,
I’m inviting you to join a business opportunity that I’ve just joined as a member and thought it might also interest you.
Ducatus - is a group of companies building a global cashless community, which has attracted almost 100.000 members in more than 180 countries.
Ducatus has a great introductory offer until the 8th of June 2020 through its network marketing arm. New members are rewarded with USD 50 in the form of 1000 free DUC ( a new digital currency, just like Bitcoin, but more usable and affordable) just for creating an account and completing the ID verification process. PLUS, if you decide to purchase a package of $50 USD or more of redeemable digital vouchers (DSV) before the 8th of June, the usual one time $30 USD admin fee will be waived and you will be credited an additional 25% value bonus on your first DSV package purchased!
Ducatus has been operating for over 3 years and has already distributed over 1.2 billion Coins. Like Bitcoin, Ducatus has encryption protocols that are highly secure and their open-source blockchain technology as the core of their system.
Through the Ducatus cashless economy, the digital vouchers (DSV) can be redeemed on their e-commerce platforms for exclusive merchandise and more while rewarding you with additional bonuses and discounts. So what are you waiting for?
You can find out more information at www.ducatus.com. To access the special promotion you need to use my referral link network.ducatus.net/registedhamelys07
Once you join you will also get access to your own referral link so you’ll get rewarded if any of your friends sign up, plus you can earn further rewards through their Referral Bonus Program.
Thanks!
- Dhamelys Valera
submitted by dhame07 to u/dhame07 [link] [comments]

Liquid CAD: Canadian dollar payments on the Liquid Sidechain

Hello fellow Canadian bitcoiners or bitcoinca! You will find below all the information related to the launch of Liquid CAD and Bull Bitcoin's Liquid Bitcoin integration. I'll be checking comments here to answer your questions! I'm also posting some comments on my announcement tweet here: https://twitter.com/francispouliot\_/status/1245758698120605697?s=20

Making the Canadian Dollar Bleed Into Bitcoin

Building the infrastructure for the Bitcoin Standard in Canada before the collapse of fiat currencies is the critical mission objective that drives innovation at Bull Bitcoin.
We are very excited to announce an important milestone in fulfilling this duty: the public release of Liquid CAD, our newest product designed to accelerate and facilitate the adoption of Bitcoin.
Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet.
Users acquire Liquid CAD by withdrawing their account balance out of Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.
L-CAD assets can only be redeemed for Bitcoin. They cannot be redeemed for a fiat currency payment.
Liquid CAD is a unique project rethinking the concept of fiat-pegged assets, avoiding the banking business model of “fiatcoin” (aka stablecoins) in favor of a prepaid payments model entirely centred around Bitcoin on-ramp and off-ramp. Liquid CAD is not a currency, nor is it a security: it is a prepaid card.
Importantly, the business model of Liquid CAD is not to collect interest on funds in our custody, unlike fiatcoins, but rather to drive the sales of Bitcoin from which we derive our revenue and we benefit from Liquid CAD assets being cashed out and thus removed from our balance sheet. Bull Bitcoin does not get any revenue from interest.
Every time an L-CAD token is purchased by a user, the amount of dollars deposited on Bull Bitcoin is guaranteed to one day be used by someone to purchase Bitcoin. It’s a one-way street: once a unit of fiat is tokenized as L-CAD, it’s never going back to its off-chain fiat form and will ultimately result in a buy order on a Bitcoin trading platform.
The Liquid CAD logo is a drop of blood because our objective is to accelerate “fiat bleed”, a phenomenon best described by Pierre Rochard in his magnificent essay Speculative Attack:
“Bitcoin will not be eagerly adopted by the mainstream, it will be forced upon them. Forced, as in “compelled by economic reality”. People will be forced to pay with bitcoins, not because of ‘the technology’, but because no one will accept their worthless fiat for payments. Contrary to popular belief, good money drives out bad. This “driving out” has started as a small fiat bleed. It will rapidly escalate into Class IV hemorrhaging due to speculative attacks on weak fiat currencies. The end result will be hyperbitcoinization, i.e. “your money is no good here. Bitcoins are not just good money, they are the best money. The Bitcoin network has the best monetary policy and the best brand. We should therefore expect that bitcoins will drive out bad, weak currencies. My own prediction is that slow bleed has been accelerating and is only the first step. The second step will be speculative attacks that use bitcoins as a platform. The third and final step will be hyperbitcoinization.”
Different representations of Canadian dollars compete to be used as payment methods (cash, bank balances, PayPal balances, closed-loop prepaid cards, open-loop prepaid cards, etc.) and that the winner will be the one that has the best Bitcoin saleability, i.e. which can be most easily sold for Bitcoin at a moment’s notice.
We’re very proud to provide this alternative payment method to Canadians in a time where the banking system is falling deeper into crisis, especially as the Canadian dollar is demonstrating itself to be one of the most pointless and weakest currencies that nobody really wants to hold.
Finally, we’re very happy to be partnering with Aquanow, our recommended institutional liquidity provider for high-volume BTC-CAD trading. They will accept Liquid CAD deposits and withdrawals as being interchangeable with Canadian dollars. We hope that Liquid CAD will become the standard representation of Canadian dollar value among Canadian Bitcoin users.

Liquid Bitcoin (L-BTC) integration

In addition to Liquid CAD, Bull Bitcoin is also announcing that Liquid Bitcoin (L-BTC) payments are now supported interchangeably with Bitcoin transactions for all Bull Bitcoin services. This means that our users can buy, sell and spend L-BTC instead of BTC.
Canadian Bitcoin traders can purchase L-BTC from BullBitcoin.com and fund their international trading accounts with L-BTC using ultra fast and cheap confidential transactions. They can also cash-out their Bitcoin balance as L-BTC from these platforms and sell those L-BTC for fiat on Bylls.com, avoiding risky and expensive international wire transfers to unknown and untrusted foreign banks.
The transactional benefits of L-BTC are very potent:
Disclaimer: Liquid Bitcoin (L-BTC) is not the same as Bitcoin (BTC). L-BTC Liquid Network assets are IOUs for Bitcoin held in a multisignature contract by the Liquid Network federation. The custody of the underlying Bitcoin is managed by a decentralized network of 15 members which process transactions and withdrawals from the multisignature contract according to the Liquid Federation protocol rules.

Liquid CAD detailed overview

Peer-to-peer prepaid payments by Bull Bitcoin

Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet. Users acquire Liquid CAD by withdrawing their account balance out of the Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.

A new payment method in Canada

Liquid CAD can be used by anyone to send and receive payments denominated in Canadian dollars. Because of the permissionless nature of the Liquid Network, Bull Bitcoin cannot prevent Liquid CAD from being traded on secondary markets. Merchants, individuals and institutions must accept that only Bull Bitcoin can guarantee redemption of the L-CAD and that this redemption will be exclusively paid out in Bitcoin. Accepting Liquid CAD as payment is, in effect, the same as accepting gift cards as payment. However, Bitcoin being the most liquid commodity on the market, it can be transformed into any other currency easily for example using services such a Bylls which allow Canadians to pay all their utility bills, send bank transfers to third parties or sell Bitcoin to their bank account.

Making Canadian dollars bleed into Bitcoin

The purpose of Liquid CAD is to facilitate the transfer fiat in the context of the purchase and sale of Bitcoin and providing innovative new services that help Bitcoin users hedge the value of Canadian dollars against Bitcoin in the context of their commercial transactions. Our goal is to create a payment method that is specifically targeting Bitcoin users that wish to liquidate Canadian dollar payments for Bitcoin. Our mission is to accelerate the phenomenon known as “fiat bleed” whereby Canadians will gradually abandon inferior money (such as the Canadian dollar) for the superior Bitcoin alternative. Every Liquid CAD issued will ultimately be exchanged into Bitcoin. We are excited for the day Liquid CAD will be made obsolete by the inevitable hyperbitcoinization of the Canadian economy.

Regulation: is Liquid CAD a stablecoin?

Liquid CAD is not a general-purpose “stablecoin”. It is a closed-loop Bitcoin prepaid card. It can exclusively be redeemed for Bitcoin on the Bull Bitcoin platform (or at affiliated merchants). Bull Bitcoin is the only counterparty, and it cannot be redeemed for a canadian dollar payment. It is substantively the same as Canadian Tire money. Unlike stablecoins, Bull Bitcoin makes money with L-CAD by driving the sales of Bitcoin on its platform, and doesn’t collect interest on the deposits of Liquid CAD users.
The purchase of Liquid CAD with Canadian dollars is regulated in the Province of Quebec as a prepaid card under the Consumer Protection Act and the Regulation respecting the application of the Consumer Protection Act Consumer Protection Act which define a prepaid card as “a certificate, card or other medium of exchange that is paid in advance and allows the consumer to acquire goods or services from one or more merchants”.
The purchase of Bitcoin using Liquid CAD is regulated in Canada by the Financial Transactions and Reports Analysis Centre of Canada under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17).

Counterparty risk

Like all other closed-loop prepaid instruments, Liquid CAD has counterparty risk. The owners are trusting that they will eventually be able to use Liquid CAD as a payment method on the Bull Bitcoin platform to fund their account and purchase Bitcoin. When a Bull Bitcoin user withdraws his Bull Bitcoin account balance as an L-CAD token, the Canadian dollars he used to fund this balance remains in our possession in the same manner as regular Bull Bitcoin vouchers. These funds are used to execute Bitcoin purchases when L-CAD owners decide to redeem their L-CAD for Bitcoin. In essence, each L-CAD is “backed” by the Canadian dollar deposit of the user that withdraws it from the platform in the first place.

Benefits of using and accepting Liquid CAD for payments

Irreversible, non-custodial and no bank required

Liquid CAD payments cannot be charged back, cancelled, delayed or frozen. There is no intermediary between the sender and the recipient. It is a bearer asset: whoever owns the keys owns the coins. It is a perfect way to accept payments or transact securely without depending on banks and payment processors. Canadians can use Liquid CAD to purchase Bitcoin and then use Bylls.com to pay billers, personal payees or simply sell Bitcoin to their bank account.

Fast transaction and cheap fees

Liquid Network transactions are sent and received instantly and require 1 minute for settlement. Transaction fees paid using Liquid Bitcoin can be as low as 300 satoshis per transaction (a few cents). In order to benefit from these cheap fees, make sure to download the latest version of the Elements software and ensure that the minimum transaction fee is set at 100 satoshis per kilobye. It only takes a few minutes to set up a free Liquid Network wallet, such a Green Wallet by blockstream.

Confidential transactions

Unlike Bitcoin, transactions between the sender and the recipient are encrypted. It is impossible for third parties observing Liquid CAD transactions on a block explorer to determine the amount of the transaction. In addition, it’s also impossible to even know you are using Liquid CAD, since the data identifying the asset itself is also encrypted!

What are the use-cases of Liquid CAD?

Buying and selling Bitcoin

The primary use-case of Liquid CAD is to make it easier to buy and sell Bitcoin on the Bull Bitcoin platform. By withdrawing their balance from Bull Bitcoin, users are reducing some (but not all) of the custody risk associated with keeping fiat currency on an exchange. For example, use Liquid CAD to create your own non-custodial dollar-cost-averaging schedule!

Onboarding new Bitcoin users

New users can be overwhelmed by the experience of dealing with banks to buy Bitcoin (and the heavier KYC process of account funding). You may be tempted to buy Bitcoin for them, but that will impose a lot of burdens on you. It’s much easier to set them up with a Green wallet, send them Liquid CAD and show them how to use Bull Bitcoin! They decide when is the right time for them to invest, with a lower KYC burden.

Hedging Bitcoin price

You may believe the price of Bitcoin will go down in the short term, but you still want to hold Bitcoin in the long term. Normally you have two options: short the Bitcoin price (very risky!) or sell your Bitcoin and receive Canadian dollars in your bank account (inconvenient!). By selling your Bitcoin for Liquid CAD, you can lock in the value of Bitcoin right now and buy them back later without needing to use your bank account or taking risks with leverage.

Accepting payments

As a merchant, you want to receive the settlement of payments in Bitcoin. But this imposes a burden on your customers, which have to deal with the Bitcoin price volatility when they are paying you. Ask your clients to pay you with Liquid CAD, and you can get the settlement with Bitcoin on your own terms.

Payroll and suppliers

What if your staff or suppliers want to get paid in Bitcoin? It can be very difficult, because this means you are effectively buying Bitcoin on their behalf. Instead, you can pay them in Liquid CAD and let them deal with the process of choosing the exchange rate and using their own wallet. Let them deal with the tax burden, exchange rates and Bitcoin wallet security.

List of Bull Bitcoin Liquid Network features

Withdraw account balance as L-CAD

This is conceptually the same as “buying” Liquid CAD with your account balance. We call it “Withdrawing L-CAD” because on the Bull Bitcoin platform, we consider L-CAD and CAD to be interchangeable and fungible.

Fund account balance with L-CAD

To redeem Liquid CAD for Bitcoin, users need to first fund their account by selecting the “Deposit L-CAD” payment method. Bull Bitcoin users must always fund their account first before buying Bitcoin, and then purchase Bitcoin with their account balances. Reminder: account balances cannot be withdraw as fiat payments, but can later be withdrawn again as L-CAD.

Sell Bitcoin for L-CAD

You can sell Bitcoin and receive Liquid CAD payments instead of a bill payment, personal payee payment or bank payment. As soon as the Bitcoin transaction is confirmed, the Liquid CAD transaction is sent to the address you provided.

Liquid Bitcoin (L-BTC) and Bitcoin interchangeability

For every service which involves a Bitcoin payment, the user can substitute traditional Bitcoin payments for Liquid Bitcoin payments. This includes:
***********************************
Original medium post: https://medium.com/@francispouliot/liquid-cad-canadian-dollar-payments-on-the-liquid-sidechain-f7e3309f8a5f
Official landing page: lcad.bullbitcoin.com
Application page: bullbitcoin.com/l-cad
submitted by FrancisPouliot to BitcoinCA [link] [comments]

MKR Holder DAI-gest: Week 7, 2020

MKR Holder DAI-gest: Week 7, 2020

Governance Recap Week Ending February 15, 2020

At-A-Glance:

DAI Digits (Statistics)

We're DAI-ing to Meet You: Explore MakerDAO

At first glance, DAI and MakerDAO are a lot of acronyms and lingo that can be slightly intimidating. Anyone can become informed and participate. Dive in as much or as little as you want. Learn to buy, save, or beyond. The secret to knowing DAI (or faking it until finding an answer) is found in the Awesome MakerDAO Community Resource Guide.
Still have questions? Want to get involved? Visit the MakerDAO Community Forum and ask. The community is made of interested people like yourself, and Community Leaders from MakerDAO. Share your skills in growing the MakerDAO Community, no experience necessary. The MakerDAO culture is very warm, welcoming, and ready to help. We would love to meet you!

Governance News

Polls

The following polls ran from February 10 - 13, 2020 with voting results identical to the current set values, therefore they were not part of the Executive Vote this week. Follow the link for more details:

Recent and Current Executive Votes

Executive Vote: Activate the Sai Debt Ceiling Adjustment and Suspend Monetary Policy Votes for Technical Fixes

Current Ruling Executive: Voting Open

Executive Vote: Activated the Savings Rate Spread and the Sai and DAI Stability Fee Adjustments

Executed on February 4, 2020

Weekly Governance and Risk Meeting, Ep. 73 February 13, 2020

You are invited to join us and help shape the future of MakerDAO. Every Thursday, 17:00 UTC
Governance and Risk Meeting Community Guide * Understand the issues that are discussed and governance themes that get explored to build a healthy, secure, Maker Platform. * Get info on how to connect by phone or webcam. * Explore meeting archives.

DAI News and Info

MakerDAO is one of the newcomers to be listed on the prestigious Forbes Fintech 50 list.

Upcoming Events

How to Purchase DAI with Cash in the U.S. (No Bank Account, Credit Card, or Debit Card Required)

Maybe you have visited the coinstar machine in the grocery store when cashing in your stockpiles of change, or just seen them when checking out. These kiosks now offer the ability to buy Bitcoin with cash. You can easily turn that into DAI and lock in an amazing savings rate on the Oasis DeFi platform by MakerDAO.
submitted by adrianhacker to MakerDAO [link] [comments]

Why Do You Need to Buy Bitcoin Crypto Voucher or Gift cards?

Why Do You Need to Buy Bitcoin Crypto Voucher or Gift cards?
Bitcoin Vouchers are a simple way to buy bitcoin, a type of cryptocurrency. It is one of the easiest ways to hold the bitcoin and can be redeemed at any time when you find the desired exchange rate. Due to the decentralized nature and security feature, the mechanism is rapid.
There is a push in the global economy for the use of digital currencies such as bitcoin. The world is moving towards a paperless economy. Over the last couple of years, the digital market has gained value in the public eye. There is increasing familiarity with the pace of rising of the cryptocurrency in the digital market. Cryptocurrencies are digital money or digital cash encrypted and created as coins or tokens. It is monitored by a peer to peer connection and is free from government intervention. These use a string of data encrypted with a specified unit of currency.


https://preview.redd.it/jgrgg08qwo731.png?width=269&format=png&auto=webp&s=7918a4ae59730881cf9c29f01c6df27460efa0ca

Bitcoin popularly called as BTC is the first-ever cryptocurrency introduced in 2009. Bitcoin uses blockchain technology and cryptography techniques to safely and securely maintain the transaction online. It is one of the most popularly used cryptocurrencies globally. The blockchain technology used in bitcoin manages the database that records all the transactions. There is no central authority and the bitcoin is managed over the network using peer-to-peer technology.
Recently major companies and banks globally have started investing in bitcoin. This has enabled companies to change the way they look at digital currency and transactions.
You can buy Bitcoin Voucher Gift Card 10 eur key at scdkey.com. These are the easiest and convenient way to invest in bitcoin. They have a very low transaction fee and provide a completely secure method to make transactions. Once you obtain the voucher, you will receive a code to activate the voucher card within the stated time period. The Bitcoin Gift Card 10 EUR is redeemable to the bitcoin wallet easily and quickly. You need to activate the serial code at the website and the equivalent amount of currency will be transferred to your bitcoin wallet linked with the voucher.
The easiest way to buy cryptocurrency is to use an easy and quick method of Crypto Voucher. Bitcoin voucher 25 EUR key can be used to redeem bitcoin from a gift card. It is the easiest way to get bitcoins. All you have to do is buy the voucher from scdkey.com by entering the details required and enter the alphanumeric code and pick the cryptocurrency like Bitcoin. You can redeem the voucher anytime within the specified period and get the exchange value of the bitcoin to the linked bitcoin wallet.
Bitcoin vouchers gift cards can also be used as a present. There are available at as low as 10 euro and 25 euro. This is an easy way as people may or may not know how bitcoin works but they surely know how to use and redeem a gift card.
submitted by Jacobethans to u/Jacobethans [link] [comments]

Payment options for Canadian performers and sellers

So this question comes up a lot and I thought it was worth making a separate post about it to try and get all the information in one place. While there are many great resources on the various camming and selling subreddits regarding payment options, none of them are specific to Canadian sellers as far as I know. Please make sure you familiarize yourself with those, though, because they have information about the safety of your money and your identity/privacy when using each service.
Transparency Statement
Apps and services I have personally used will be indicated within. I also want to note that I was given a $10 Polyalpha gift card by a fellow Redditor and seller for a chance to try the service (it was a public offer given in a comment thread). I do not anticipate bias because of this, but it has given me information about the service that I would not have otherwise had.
Disclaimer
This post is for information purposes only and nothing I say should be construed as an endorsement. Similarly, the focus of this post is on payment options for Canadian models. There are a lot more things to consider as you do your research, so please keep in mind that this is not intended to be a comprehensive resource and take the time to double-check how each works when it comes to personal safety and anonymity in particular.
I have broken this down into two tables – one for third-party apps that Canadians can use to receive direct payment from individual buyers, and one that gives the lowdown on getting paid from various content/cam sites. Note that many of the options in Table 2 are also payment processors or can be used as such.
Table 1. Third-party apps for receiving direct payment.
>>Options in bold require that you have a US-based checking account<< See next section for more information.

Service Currency options for receiving payment Payment options for buyers Withdrawal procedure Fees Notes Source
Paxum EUR, GBP, USD Must have Paxum Prepaid card; to US bank account $0.25/transaction Poor quality info online; nonexistent customer service Personal experience and http://bit.ly/2moKymk
Shakepay Bitcoin, Ethereum BTC, ETH, PolyAlpha Convert to CAD within the app and etransfer it to yourself None from Shakepay but may be bank fees By far the most painless sign-up experience I've had -Personal experience and http://bit.ly/2nfLSYU
Payza 24 others besides CAD Must have Payza; can load from debit or CC Convert to CAD in-app -> bank transfer, Payza card, or BTC http://bit.ly/2ndxIr7 Free I have not used this - all info from website http://bit.ly/2lKVHO7
eTransfer CAD CAD via email or text None required Varies by bank and account type Only safe option here is to use a dedicated and separate email. I don't know if it would work using a number from Burner or Text Plus Personal experience: When you receive money, the name associated with your bank acct isn't visible to the sender
PolyAlpha Bitcoin via gift voucher USD using PayPal or CashApp (see notes) Bitcoin wallet Currently around 18% and decreasing a) I used Shakepay to receive BTC because it can convert to CAD in-app Personal experience, Reddit, and http://bit.ly/2lItcAr (scroll to bottom -> Gift Vouchers -> "buy" or "redeem")
GiftRocket USD USD or merchant gift card via CC Direct deposit to US account; gift card Buyer pays $2 + 5% of value a) I have not used this – all info from website b) Gift cards avail. for specific places – see website http://bit.ly/2nh8kRk
Table 1 Notes
Opening a US Checking Account
To my knowledge, TD and RBC are the only banks where this is possible. In order to take advantage of the payment options I’ve identified in bold in Table 1 and Table 2, it is imperative that you open a US-based checking account and not just a USD account through your home branch. The difference is that a US-based checking account is tied to a branch that has a physical location in the US.
I opened mine through RBC and it was relatively painless. I opened a Canadian checking account online but had to go to a branch to provide ID verification. This is required in order to open the US account. Next I called them to open the US-based account. You can do this at any branch as well, but I was told that it takes longer to open this way. Over the phone, it was instant. My accounts are linked through my online banking portal and RBC banking app, allowing me to transfer myself money easily and instantly. They also sent me a Visa Debit for my US account, which took about two weeks to arrive.
Table 2. Payment methods for Canadian sellers and performers on various cam/content sites.
I have omitted all instances of wire transfers (because they are slow, expensive, and usually have high payout minimums) and all instances of cheques (because they are slow). I have omitted all mention of ePayments because they no longer accept payments in USD.

Site Direct deposit in CAD? Direct deposit to US account? Other payment options Source
Chaturbate No Yes Paxum http://bit.ly/2mtHVQb
My Free Cams No Yes Paxum, Payoneer http://bit.ly/2njg59w
Bonga Cams No Yes Paxum, Crypto (five different ones) http://bit.ly/2o14X1h
Streamate No Yes Paxum, Payoneer http://bit.ly/2o2YnaJ
Stripchat No Yes Paxum http://bit.ly/2npjfZ4
CamSoda No Yes Paxum http://bit.ly/2lLqREU
IndieBill No Yes None http://bit.ly/2nmFpv8
ManyVids Yes - $30 fee but FREE to deposit to Canadian USD account Yes Paxum http://bit.ly/2o36d49
OnlyFans No Yes Paxum Via email b/c info is only available to registered account holders
Clips4Sale No Yes None http://bit.ly/2o1pgvy
iwantclips No Yes None http://bit.ly/2my24V8
Table 2 notes
TL;DR Get a US-based bank account, Paxum, and Shakepay.
I am open to questions, comments, and concerns! I would like this resource to be as tight as possible so be sure to let me know if you see any issues or gaps.
submitted by heidivonrocket to CamGirlProblems [link] [comments]

Master List of Discount Gift Card Retailers

Master List of Discount Gift Card Retailers
This link-packed ebook is intended for people looking for the best-kept secrets on the web for buying bulk Amazon, Walmart, Best Buy and other national brand gift cards at the highest discounts—accounting for speed, quality, volume and risk.
Executive Summary
  1. Buy gift cards on marketplaces
  2. Buy gift cards with bitcoin
  3. Fill out online surveys for gift cards
  4. Buy directly with people online
  5. Buy directly with people offline
  6. Arbitrage gift cards on Amazon
  7. Swap other gift cards for Amazon
  8. Buy gift cards from retail stores
  9. Earn gift cards for online work
  10. Daily deals websites
Bonus Knowledge

Executive Summary

This article covers some of the many ways to buy discount gift cards. We focus a lot of attention on Amazon gift cards since they are the largest retailer in the world and has the 2nd most gift cards in circulation. We have either purchased or researched in depth most of the sites on this list to come up with some conclusions about the fastest, safest and cheapest places to buy discount gift cards. Please remember, there is no one best place to find gift cards, the goal is to give you options.
The lowest-risk gift cards with the lowest discounts are directly from that brand and at grocery stores and other retail locations (CVS, Safeway, Walgreens, etc). You will also find these 0% offers from 3rd party e-code generators like eGifter and BitPay. You can usually buy instantly and they are guaranteed forever.
Slightly higher risk are the old-school secondhand gift card exchanges like CardCash, CardPool, Raise and others. They offer very small savings up to 5% off the top brands. You can pay with a credit card and they guarantee the card for up to a full year so you can gift them as gifts much easily.
The highest discounted gift cards are on peer-to-peer bitcoin marketplaces with users from many different countries, like Paxful and LocalBitcoins. This also comes with the most risk and the highest amount of work. These platforms have lower regulation and majority of the trades are conducted in non-USD currency.
Finally, there is an emerging category of crypto gift card exchanges that also use bitcoin to offer the same discounts as peer-to-peer marketplaces, but they have more advanced protections in place for buyers and sellers. Sites like Redeeem and Purse.io fall into this category because they can offer larger discounts on gift cards and other products but they use technology to cut out the negotiating. Cards are guaranteed for minutes, hours or days here, so this isn’t the best for gifting.
Your savings (and profit margins) will depend largely on your risk tolerance, length of time you are willing to get paid, country where you are located, capital available, ability to buy alternative forms of currency (like bitcoin), the ability/willingness to ship physical products, overall time commitment, and many other factors.

1. Buy gift cards on marketplaces

Redeeem. Save 15% or more on bulk Amazon, Walmart and Best Buy gift cards with auction-style pricing buying with bitcoin. They have great support and great reviews.
CardPool. Save 3-5% on hundreds of brands, including Best Buy, Target, iTunes and Lowe’s. They send the card directly to your email inbox or via USPS in 3-7 days.
CardCash. Gift card marketplace that buys unwanted gift cards for less than their value and resells them at a discount to savvy shoppers across the country. Save 3-5% on hundreds of brands, very similar to CardPool.
Gift Card Granny. This is a nice resource because they link to the sites that have the best deals, unfortunately they don’t index many of the bulk discount sites.
Raise. One of the biggest in terms of volume. Discounted gift cards to hundreds of national brands such as Target, Southwest, Uber, Home Depot, etc. However, discounts are minimal here, ranging from 0-3%.
CardCookie. A great site with great potential—currently offering 5-10% discounts but not very high volume yet. Keep them bookmarked.

2. Buy gift cards with bitcoin

Redeeem. Redeeem is a great option for buying Amazon gift cards at 20% discount or higher using bitcoin. Unlike Paxful or LocalBitcoins, they manually validate and guarantee every gift card sold on the platform and have an easier buying experience. But you will have to trade during market hours (they are only open 8 hours a day).
BitPay. Raised over $72 million from investors, they’re the largest bitcoin payment processor. Download the app to buy Amazon e-codes fast at 0% discount.
Paxful. With 300+ currencies to trade, Paxful’s peer-to-peer platform with millions of users in Africa offers likely the best discounts for gift cards, but there are a lot of scammers (and yelling) so be careful. You may find yourself with a lot of stolen/invalid cards and trade disputes with money at risk.
LocalBitcoins. LocalBitcoins lets you buy and sell bitcoin in over 248 countries. Like Paxful, this comes with high risk and high reward. Every trade starts with a listing, similar to Craigslist, and the platform is strictly peer-to-peer.
Purse. Save 10% or more on Amazon when you pay with bitcoin, or dropship products (including gift cards) to people to earn bitcoin.
CardBazaar. An online secondhand gift card marketplace where you can buy and sell unwanted gift cards for cash or bitcoin.
Bidali. A bitcoin payment processor that competes with BitPay and offers full-priced e-codes from Amazon and other retailers.
eGifter. One of the best way to buy eGift cards quickly for friends, family and yourself without hassle. Choose from hundreds of top national brands. You can personalize your gift with an animated greeting card, photo or video greeting.

3. Fill out online surveys for gift cards

Survey Junkie. offers a massive inventory of paid surveys. Each survey is assigned a point value (most between 100-200 points) and estimated completion time. Once you accrue 1,000 points (around $10) you can cash out with a gift card.
Beer Money on Reddit. This a Reddit group dedicated to making some cash on the side. Don’t know much about it.
PointClub Surveys. You can earn points for completing paid online surveys. When you have enough points, you can redeem them for cash or the gift card of your choice. Gift cards can either be digital or real cards sent to you. It's that easy!
OpinionOutpost. You can earn cash and rewards for the time you spend taking online surveys with points you can redeem for cash or gift vouchers to popular brands.

4. Buy directly with people online

Reddit. Reddit is used by a ton of gift card traders, but you have to be familiar with the platform and have some karma on there before using it seriously. Otherwise, your listings will just get filtered out by their algorithms. If you go in there moving quickly without reading their rules carefully you will likely get banned.

5. Buy directly from people offline

Craigslist. As you probably know, you can get anything on Craigslist. But like Paxful and LocalBitcoins, it requires a lot of negotiating and there are scammers galore. The only deals worth doing are small volume with trusted local partners.
Facebook Marketplace. Although this wouldn’t be my first choice due to the randomness, there are a lot of gift cards on Facebook Marketplace—a growing platform.
eBay. Older than time itself, eBay earns millions of dollars a day in gift card volume. They are fairly warm to buying and selling physical gift cards but they are cracking down on e-codes. The downsides here are shipping costs and eBay/PayPal fees which add up to over 10%. There are also a lot of international buyers on eBay taking advantage of currency exchanges, which inflates prices of gift cards above their face value. It’s an expensive place to find gift cards—but always there.

6. Arbitrage gift cards on Amazon

Amazon is unique in a lot of ways. One way in particular is that they let you buy other brands of physical gift cards with your Amazon credit balance—such as Nordstrom, Southwest, Nike, Starbucks, Google Play, iTunes, Best Buy, Lowe’s, Sephora, Hotels.com and dozens more.
This opens the door for people to buy gift cards on Amazon and then sell them to CardCash, CardPool, Raise, Paxful, Reddit, LocalBitcoins, Redeeem, etc. The risk, believe it or not, is that Amazon loves shutting down people’s accounts with gift card balances frozen inside. So don't let your balances get too high and try to mimic normal behavior that doesn’t make you look like a large dropshipping business (e.g. ship to yourself, buy other products too, have a real phone number and billing address on file, etc). There are also hard quantity limits on how many gift cards you can buy for each SKU on Amazon.
Your profit margin will depend on how you get Amazon credits, your ability to keep your Amazon accounts in good health, and the rate at which you sell your cards to gift card marketplaces (some let you choose your own rate, others have fixed rates), and the speed and method you want to get paid (check, ACH, bitcoin, PayPal, etc).

7. Swap other gift cards for Amazon

CardCash Amazon Exchange. This is a cool resource that CardCash built alongside Amazon to allow customers to swap out other national brands for Amazon e-codes for a small fee. The rates are comparable to what they have on the main CardCash website and the e-codes are delivered within 24 hours. It’s a cool way to jump from one brand to another if you want Amazon gift cards in particular and have another.

8. Buy gift cards from retail stores

Retail Stores. There are hundreds of physical retail store locations where you can buy physical gift cards in person (the link points to Amazon retail locations). You pay full retail price but it’s fast, safe and reliable—and you can earn 3-5% cash back with certain credit cards like Amazon Prime card.

9. Earn gift cards for online work

Mechanical Turks. Amazon Mechanical Turk (MTurk) is a crowdsourcing marketplace that makes it easier for individuals and businesses to outsource their processes and jobs. This will require a lot of work, but you can get paid in Amazon gift cards.
Swagbucks. You can redeem a Amazon Gift Cards by using the Swagbucks you earn through playing, searching, discovering, answering, watching or shopping on websites that are trying to sell you things. Not very profitable but can be fun.

10. Daily deals websites

Groupon. Although not as popular as when it first launched in 2009, Groupon is still used by millions of people to get discounts on stores, experiences and even gift cards like Amazon, Walmart and Best Buy. There is also a gift certificate category that has similar offers (sorry, we couldn’t find anything similar on Living Social).
Amazon Daily Deals. Amazon has daily deals on many categories of products as high as 20% discount. On some occasions they will slash prices on gift cards. Amazon Treasure Truck. Amazon has a Treasure Truck that they drive around many of their Whole Foods locations they use to promote Amazon Video shows and offer 10% discount deals on food, clothing and tech.
Gift Cards.me. Simple app, good reviews, worth a try. The discounts aren’t very spectacular, but they claim to have fast gift card delivery.
Nimble Commerce. Not sure how long they’ll be around, but worth a shot.

Bonus Knowledge

On the back of your gift cards, check all the stores where that brand is accepted. For example, gift cards for Gap also work at Old Navy, Banana Republic, Athleta and Piper Lime. Walmart gift cards work at Sam’s Club, Amazon gift cards work at Whole Foods, and Albertsons gift cards work at Safeway, Vons and a dozen other grocery store chains in the same family. Make sure you know these sister-company store policies before you buy a brand.
One limitation you may find with many stores like Amazon, Walmart and Best Buy is that they have per-product purchase limits. Obviously you can create new accounts or ask friends and family to buy products for you, but some products have gift cards under many different SKU numbers—like a Christmas and Birthday version. There are also limits set for each of these individual items, not the gift card category as a whole.
Finally, based on the U.S. government regulations, the maximum amount of gift cards that can be purchased in a 24 hour period by a single person $10,000. So please keep this in mind when you are out there shopping.
Good luck, be honest, and happy trading!
Bonus Resources

https://preview.redd.it/k4k2l6aa0du31.png?width=543&format=png&auto=webp&s=203b7485b312ae7a693e10222b93eba723586918
submitted by levi_d-19 to Redeeem [link] [comments]

Can I legally sell Bitcoin, without a MSB license and KYC laws, just as I can sell XYZ widgets? I know I need a business license and to pay taxes!

I'm looking at the state code, and I can't find anything that says I can't, per se... it doesn't seem Bitcoin falls within the verbiage of the laws governing such things since Bitcoin is NOT a currency in the United States.
CHAPTER 32A. LAND SALES; FALSE ADVERTISING; ISSUANCE AND SALE OF CHECKS, DRAFTS, MONEY ORDERS, ETC. ARTICLE 2. CHECKS AND MONEY ORDER SALES, MONEY TRANSMISSION SERVICES, TRANSPORTATION AND CURRENCY EXCHANGE. §32A-2-1. Definitions.
 (1) "Commissioner" means the Commissioner of Financial Institutions of this state. (2) "Check" or "payment instrument" means any check, traveler's check, draft, money order or other instrument for the transmission or payment of money whether or not the instrument is negotiable. The term does not include a credit card voucher, a letter of credit or any instrument that is redeemable by the issuer in goods or services. (3) "Currency" means a medium of exchange authorized or adopted by a domestic or foreign government. (4) "Currency exchange" means the conversion of the currency of one government into the currency of another government, but does not include the issuance and sale of travelers checks denominated in a foreign currency. Transactions involving the electronic transmission of funds by licensed money transmitters which may permit, but do not require, the recipient to obtain the funds in a foreign currency outside of West Virginia are not currency exchange transactions: Provided, That they are not reportable as currency exchange transactions under federal laws and regulations. (5) "Currency exchange, transportation, transmission business" means a person who is engaging in currency exchange, currency transportation or currency transmission as a service or for profit. (6) **"Currency transmission" or "money transmission" means** engaging in the business of **selling** or **issuing checks or the business of receiving currency**, the payment of **money**, or other value that substitutes for money by any means for the purpose of transmitting, either prior to or after receipt, that currency, payment of money or other value that substitutes for money by wire, facsimile or other electronic means, or through the use of a financial institution, financial intermediary, the Federal Reserve system or other funds transfer network. It includes the transmission of funds through the issuance and sale of stored value**??** or similar **prepaid products' cards** which are intended for general acceptance and used in commercial or consumer transactions. (7) "Currency transportation" means knowingly engaging in the business of physically transporting currency from one location to another in a manner other than by a licensed armored car service exempted under section three of this article. (8) "Licensee" means a person licensed by the commissioner under this article. (9) "Money order" means any instrument for the transmission or payment of money in relation to which the purchaser or remitter appoints or purports to appoint the seller thereof as his or her agent for the receipt, transmission or handling of money, whether the instrument is signed by the seller, the purchaser or remitter or some other person. (10) "Person" means any individual, partnership, association, joint stock association, limited liability company, trust or corporation. (11) "Principal" means a licensee's owner, president, senior officer responsible for the licensee's business, chief financial officer or any other person who performs similar functions or who otherwise controls the conduct of the affairs of a licensee. A person controlling ten percent or more of the voting stock of any corporate applicant is a principal under this provision. §32A-2-2. License required. 
Via Black's Law Dictionary, just because I was curious what "money" meant in leagalese, and it appears to only mean currency issued by a government.
What is MONEY?
A general, indefinite term for the measure and representative of value; currency; the circulating medium ; cash. “Money” is a generic term, and embraces every description of coin or bank-notes recognized by common consent as a representative of value in effecting exchanges of property or payment of debts. Hopson v. Fountain. 5 Humph. (Tenn.) 140. Money is used in a specific and also in a general and more comprehensive sense. In its specific sense, it means what is coined or stamped by public authority, and has its determinate value fixed by governments. In its more comprehensive and general sense, it means wealth.
Bitcoin is NOT coined nor stamped by public authority and has no value determined by governments. It sounds like currency is only money if the IMF controlled it's issuance?
Also this: http://techcrunch.com/2014/03/25/irs-rules-bitcoin-is-property-not-currency/
submitted by WVBitcoinBoy to Bitcoin [link] [comments]

Welcome to r/PlayChip, feel free to check our ICO FAQ

Welcome to all our new subscribers, please feel free to review our FAQ. If you have any questions for the mod team don't hesitate to message us.
ICO BASICS
What is an ICO?
An initial coin offering (ICO) is a means of crowdfunding in crypto assets. A quantity of the crowdfunded asset is allocated to purchasers in the form of Utility Tokens. Utility Tokens offered before an ICO are usually available at a discounted rate to reward early purchasers. These tokens become functional units of currency after the ICO is completed.
What is a Whitepaper?
A document that entails what you need to know about the cryptocurrency before making up your mind if you want to purchase it. This includes commercial, technological and financial details in language that can be understood by someone who is not an expert in the space.
What are Utility Tokens?
Utility Tokens are a crypto asset which is specifically designed to be exchanged for goods and services.
What are cryptocurrency exchanges?
Cryptocurrency exchanges are websites where you can buy, sell or exchange cryptocurrencies for other digital assets or traditional fiat currencies like USD or AUD.
What is fiat?
Fiat currency refers to standard national currencies in use today for goods and services. USD and AUD are examples of fiat currencies.
What is Ethereum and ERC-20 tokens?
Ethereum is the second largest crypto asset in the world. Ethereum provides a decentralized and open-source architecture for other DAPPs (decentralized applications) to be built upon. The PlayChip is an ERC-20 token, meaning it is built on the Ethereum blockchain.
GENERAL
What is the PlayChip and what can I do with it?
The PlayChip (PLA) is a utility token built on the Ethereum blockchain. The PlayChips’ goal is to become the global currency of the gaming industry, starting with the PlayUp ecosystem and its related gaming businesses. It can be used to place bets and enter challenges, as reward points in the PlayUp store, and can be traded for fiat and other cryptocurrencies via partnered exchanges.
How do I buy PlayChips?
You can purchase PlayChips through the ICO website (playup.com/ico). Pre-ICO discount is 50%. We accept payment via USD, AUD, Ethereum (ETH) and Bitcoin (BTC).
When will I receive my PlayChips?
Once the PlayChips have been created at the token generation event (ICO) they will be transferred to your wallet.
When is the PlayChip going to be on an exchange?
We are finalising discussions with multiple exchanges and will announce these (prior to the launch of the) after the ICO finishes.
Are PlayChip tokens instantly transferrable?
As with all crypto assets, the PlayChip will be instantly transferrable at the start of the ICO period. Until then, your PlayChips will be stored in your PlayChip account. To login to your account go to https://tokensale.playup.com/login.
Where will you store my PlayChips?
We will store the amount of PlayChips you have purchased in our account until the start of the ICO when the generation event will occur. Once the tokens are created they will be delivered to the wallet address you have supplied. As the PlayChip is an ERC-20 token, this must be an Ethereum wallet address. If you have not supplied a wallet address you can update this via the ICO website.
How do I keep my PlayChips secure?
Your PlayChips can be stored securely within your PlayUp account, however, should you have any concerns regarding centralisation and prefer to store your PlayChips on a private wallet then you will need a compatible ERC-20 wallet. We recommend metamask (https://metamask.io/) or Myetherwallet (https://www.myetherwallet.com) and the use of a hardware wallet to secure these accounts.
What is the maximum funding level (hard cap)?
We aim to raise USD $50Million. (Liam’s calculations 24/4 is $141,200,000.)
What is the minimum funding level (soft cap)?
The minimum is USD $3Million. (Liam’s calculations 24/4 is $26,399,000.)
What happens if the minimum is not met?
We have already surpassed the minimum raise. USD$3 million was raised in February 2018.
What affects a Tokens value?
A number of factors can influence the value of each token, including validity of project and business model, market behaviours and day trading. Like anything in the business world, cryptocurrencies can not sustain long term value without a viable business model behind it. Always perform your own due diligence through trusted sources before investing.
How many PlayChips tokens will be created and will more be created later?
The total PlayChips generated will be 100,000,000,000. The circulating supply will be 40,000,000,000, with the remainder to be placed in cold storage.
What is cold storage?
Cold storage refers to an offline wallet controlled by PlayUp. This is to be used to manage future acquisitions and company growth. Funds in controlled storage are strictly controlled and cannot be used without signatures from the CEO, a non-executive director, and a third party nominated by at least 75% of PlayUp’s full time staff.
How to buy and sell PlayChips
Step 1: Purchase your Tokens through the playup ICO website.
Step 2: Send your tokens from the ERC compatible wallet to your account with a partnered exchange. Be sure to send them to the Ethereum wallet address in your exchange account.
Step 3: Sell your tokens for Ethereum (ETH).
Step 4: Convert your Ethereum to another cryptocurrency or fiat.
Which exchanges will my PLA appear on?
You will be able to trade PLA across a number of major exchanges from June 2018. PlayChip ICO
Is there a discount or a bonus during the PlayChip ICO?
During our public seed there is 50% discount on PlayChips ($0.005 per token) and further bonuses for bulk purchases which are outlined on our ICO website. Once the hard cap on the public seed is reached it will be followed by the Pre-ICO stage, which carries a 30% discount.
When will the PlayChip Launch?
We are expecting to launch across multiple exchanges in July 2018, once all tokens have been purchased in the aforementioned stages.
When do the sales start and how long with the sale be open?
Sales have already commenced, you can follow the ICO’s progress on our website.
Why is this a better ICO compared to others?
We are an existing business with a proven business model and existing revenues. We have an established user base with over 450,000 active users ready to utilise our token.
The centralized PlayChip is already in use with a static value of US$0.01, and is redeemable with third party vouchers from affiliates such as Mastercard, Amazon and Coles.
We apply industry leading practices and systems to deliver consumer protection, including “know your customer” (KYC) account verification, underage screening, and “anti-money laundering” (AML). We currently operate a gambling license in Australia, a wagering market recognised as one of the most mature and regulated in the world. As a licensed operator, we will only have to make marginal adjustments to our existing compliance and operational processes to begin operating in any new jurisdiction.
Will there be additional Playchips after the ICO?
An estimated 14.1 billion PlayChips will be sold and disseminated to their owners post-ICO. Any unsold PlayChips will be placed into cold storage.
How will the funds collected during the ICO and pre-ICO be used?
55% marketing
30% technical
6% operations
4% legal and Finance
4% Finance
1% Other
What requirements do I need to meet to take part in the ICO?
We request contributors to verify themselves in compliance with KYC when participating in the ICO. This means confirming your name, phone number, email address and address. Further documentation may be required to complete full KYC.
You will need a compatible ERC wallet in the token generation stage, until then your PlayChips will be stored in the PlayUp user wallet on the PlayUp website.
submitted by PlayChipICO to PlayChip [link] [comments]

Feedback on Coinbase job app

Hey crew, recently dropped an app in for a job with Coinbase as a Legal Associate. The job form had originally asked where Coinbase should file for a Money Transmitting License. I decided to research the issue a bit and use it as my cover letter. I'd like to refine it a bit and use it along with some other apps as a writing sample, wanted to get some feed back:
There are three scenarios that Coinbase could choose to pursue: 1) Request no-action letters from each state under the theory that Coinbase' activities do not fall within the traditional definitions of a “money transmitter” or fall under one of the state exemptions; 2) File for a MTL in California and Delaware where Coinbase has it principal place and is incorporated, due to the high likelihood of being subject to personal jurisdiction in these states; 3) File for a MTL in all 47 states with legislation on the matter.
Under federal law, 18 UCS § 1960, businesses are required to register for a MTL where their activity falls within the state definition of a money transmitter. Under current legislation 47 states require “money transmitters” to register for an MTL. As stated above, Coinbase principal place of business and state of incorporation is California and Delaware respectively. However, Coinbase' services are available to anyone in the United States regardless of their state of residency. This could very likely subject Coinbase to jurisdiction in every state, or at the very least be forced to close operation in states where it does not comply with Anti-Money Laundering (AML) laws.
I. Request for No-Action Letter
Under the first scenario Coinbase could request a no-action letter from each state where it operates. For example: the California Department of Business Oversight (previously the Department of Financial Institutions) in California. Under this theory Coinbase could provide the following argument that its services do not fall within the State's definition of a money transmitter. California law defines “money transmitters” as any business which engages in the activities of: 1. "selling or issuing payment instruments;" 2. "selling or issuing stored value;" and 3. "receiving money for transmission" Cal. Fin. Code § 2003(o).
A. Bitcoin is Not a “Payment Instrument” Under California Law
Coinbase does not operate any services under the first prong of “selling or issuing payment instruments” because bitcoin does not fall within the definition of a “payment instrument” under California law. Payment instruments are defined as “a check, draft, money order, traveler's check or other instrument for the transmission or payment of money or monetary value, whether or not negotiable” Cal. Fin. Code § 2003(q). A payment instrument “does not include a credit card voucher, letter of credit, or any instrument that is redeemable by the issuer for goods and services provided by the issuer or its affiliate." Id.
Coinbase is not the “issuer” of bitcoin because an issuer within the context of payment instruments is “the entity that is the maker or drawer of the instrument in accordance with the California Commercial Code and is liable for payment” Cal. Fin. Code § 2003(k). Coinbase is not the maker of bitcoin because bitcoins are created by the network itself after a user provides proof of work solving the mathematical algorithm to unlock new bitcoins. Furthermore, Coinbase is not under any obligation to remain “liable for payment” to any particular user who wishes to redeem their bitcoin for USD or other currency.
Coinbase is not the “seller” of a payment instrument because bitcoin is not an “instrument.” Under the California Commercial Code negotiable instruments “must involve a written instruction or undertaking” Cal. Comm. Code § 3103(a)(6). With a bitcoin transaction there is no written instruction or undertaking, it is simply a transfer of possession of the private keys associated with a particular bitcoin or fraction thereof.
Each bitcoin is a unique piece of property, not a currency, as evidenced by the IRS Notice 2014-21. The ruling treats bitcoin as property, not as an instrument, note, or draft. Each bitcoin is inherently unique because ownership is based purely on possession of specific private keys associated with the bitcoin and authenticated by the public ledger in the Bitcoin network. Once Coinbase has given a user possession of the private keys associated with a bitcoin, Coinbase is no longer under any obligation to transact with that user again or exchange the bitcoin for another currency.
Because Coinbase is not the “issuer” of bitcoin and bitcoin is not a “payment instrument” rather it is unique property, Coinbase is not engaging in activity described in the “payment instrument” prong of the Money Transmitter Act.
B. Bitcoin is Not “Stored Value” as Defined Under California Law
Coinbase is not "selling or issuing stored value" Cal. Fin. Code § 2003(o).“Stored value” is defined as an agreement to exchange monetary value for a promise to later redeem that value for a fixed amount, “evidenced by an electronic or digital record” Cal. Fin. Code § 2003(v). Coinbase does not offer redemption value for bitcoins sold to its customers. Coinbase service merely transfers property ownership of the private keys to a bitcoin. At no point in time is Coinbase obligated to redeem any specific stored value because the value of a bitcoin fluctuates wildly with the market. Furthermore, Coinbase is not the “issuer” as discussed above because bitcoin is “issued” by the network's proof of work algorithm and verified by peers in the public blockchain ledger.
C. Coinbase Does Not Accept Funds to Be Transmitted to a Third Party
California Finance Code requires that services "receiving money for transmission" register as Money Transmitters Cal. Fin. Code § 2003(o). A service accepts money for transmission where it accepts funds from one user and subsequently transfers those funds to a third party within or outside the United States Cal. Fin. Code § 2003(s). The basis of Coinbase business model is not the transmission of money, nor does it transfer funds, money, instruments, or bitcoin from one user to another. Coinbase purchaces property in the form of each unique bitcoin from its users, Coinbase is then free to keep, sell or destroy that property at will. The fact that Coinbase has simultaneous purchase and sell features does not change the nature of this because at no point in time as any property or bitcoin transmitted anywhere other than from a user to Coinbase, or vice versa.
This conclusion is further evidenced by the Department of Business Oversight's (formerly the DFI) concurrence that “Foreign Currency Exchange Services - Not Subject to money Transmission Act” Available at HYPERLINK "http://www.dfi.ca.gov/Laws/orders_files/Opinion-Foreign_Currency_Exchange_Services.pdf"http://www.dfi.ca.gov/Laws/orders_files/Opinion-Foreign_Currency_Exchange_Services.pdf. There the Department concluded that the sale of pesos in exchange for a fee and U.S. Dollars was not a money transmission. This conclusion was drawn because the service did not transmit money to a third party and it did not remain liable to later redeem value for the pesos. The service described in the opinion is strikingly similar to the service offered by Coinbase.
Because Coinbase does not receive money to be transmitted to a third party and it does not obligate itself to later redeem value for a bitcoin, it does not fall under the regulation of this prong of the California Finance Code.
II. File for a Money Transmitting License in California and Delaware
Should regulations emerge that more clearly place bitcoin under any of the definitions described above, it would be prudent for Coinbase to register for a Money Transmitting License in California and Delaware.
Business entities are most likely subject to jurisdiction where they maintain their principal place of business, and often as well in the state of incorporation. 28 U.S.C. § 1332(c)(1) provides that "a corporation shall be deemed to be a citizen of any State by which it has been incorporated and of the State where it has its principal place of business." Relatively recently, the U.S. Supreme Court ruled that the “principal place of business” is the “nerve center” or decision making headquarters of an entity, as opposed to a main place of manufacturing or lower level of operations Hertz Corp. v. Friend, No. 08-1107, slip op. at 1 (U.S. Feb. 23, 2010).
Because Coinbase main office is located in San Francisco, California and the state of incorporation is in Delaware at the very least Coinbase is subject to jurisdiction and regulation in each state mentioned. Therefore, the first applications for a MTL should be completed in California and Delaware if Coinbase required to comply with money transmitting regulation.
III. File for a Money Transmitting License in all 47 States with Applicable Regulations
The nature of Coinbase business is such that it has users across the nation. At the time of writing 47 states have related legislation regarding money transmission. South Carolina and Montana do not regulate money transmission, New Mexico only regulates “negotiable instruments” which is not applicable to bitcoin, for similar reasons as discussed above. Coinbase possibly avails itself to the laws and regulation of each state it allows customers to transact in. Therefore, Coinbase could be subject to jurisdiction in every state where its services are available.
Individual analysis of each state's money transmitter regulations are beyond the scope of this document. However, I would be happy to research any specific state or federal regulation in furtherance of the application process and pursuit of employment with Coinbase.
submitted by vinnie_james to Bitcoin [link] [comments]

Use envelopes containing Litecoin private keys as cash

Hard-to-fake and tamper-evident envelopes that contain Litecoin private keys can be used as cash and could enable easy adoption of Litecoins. Two versions are proposed: one is easy to use and cheap but less secure; the other is based on smart cards, which offers very high security and convenience and still remains cost effective.

1. EASY AND CHEAP VERSION

1.1 Description

On the surface of the envelope, there should be some textures like those on dollar notes to prevent it from being faked and the amount of Litecoins contained in the private keys to indicate the value it contains. The technology involved is called Security Printing [1]. The cost of printing one piece can be as low as 0.18 USD [2].
In most cases, you just need to check the appearance of the envelop like you check notes to make sure it is not faked. If you don't trust, you can simply open it and check the private keys.

1.2 Legal Status

Although purchasing from stores using these envelopes could cause legal issues, trading them between fiat money is no different from trading LTC directly and thus should have no problem. Interestingly, in many countries including the U.S, using this as currency can actually be legal [3, 4, 5].

1.3 Discussion

The advantages are: It is cheap. It works like cash and requires no mobile devices in most cases, so it is easy and convenient to use.
While dollars are used to be backed by gold but got changed later, this kind of Litecoin backed envelops are always backed the Litecoins contained inside. Moreover, the fact that those Litecoins can easily be redeemed gives it a big advantage compared with other private currencies like Digital gold currency [5].
Envelopes are just a metaphor. As long as we hide the private keys in a tamper evident way and we use security printing to prevent faked ones and we make them durable and easy to carry, we should be good.

2. ADVANCED BUT STILL COST EFFECTIVE VERSION

2.1 Description

For higher value ones containing like more than 10 Litecoins, we can create a more secure version using smart cards.
Instead of directly putting the private key of the Litecoins inside the envelope, we put inside the envelope a password and a NFC based smart card containing 1) the private key of the Litecoin, and 2) the private key of the issuing organization. We design the smart card in such a way that to read the private key of the Litecoins from the smart card, you will need the password contained in the envelope, and once the read is finished, the private key of the Litecoins will be automatically destroyed by the smart card immediately. So you cannot read the private key twice from the smart card.
Then, without opening it, we can use a mobile phone to verify that the envelope is indeed produced by the organization because it signs using the issuing organization's private key. Also, we can verify that the smart card indeed contains so much Litecoins because it signs using the private key of the Litecoins.
Also, we can see the envelope and the smart card need to be used together to retrieve the Litecoins. Without the envelope, you lack the password to retrieve the private key from the smart card. Without the smart card, the password inside the envelope is simply useless.

2.2 Discussion

The envelope including the password is required. There are two cases if we use only a smart card without the envelope.
Faking/duplicating the smart card is impossible as you don't have the private key of the organization. Opening the envelope and retrieve the private key of the Litecoins and then put the smart card into a faked envelope will not work as the private key has already been destroyed after you read it, so a mobile phone can verify that easily. And normal envelopes can be used. There is no need for money printing technologies.
For normal paper wallets or the one above, once you verify, they cannot be used anymore as you've already got the private keys. But it is good for small amounts.
Mobile wallets need network connection to send and receive Litecoins. It's good when both you and the receiver have network connection and wallets.
With this, the sender needs no network connection. And the receiver can verify within 2-3 seconds both the amount and the issuing organization if he/she has network connection. If there is no network connection, the receiver can still use a phone to verify whether it is from a trustworthy organization or not. If it is from a trustworthy one, and if the envelope seems OK, the receiver can pretty confidently accept it if the amount is within a few hundreds of dollars.
Many Chinese guys just want to buy Litecoins and store there and wait for the news about Litecoin price. It should be as easy as buying and storing gold. Right now, it's too difficult for them to download a mobile wallet and generate an address. And they have no idea about how to use a wallet securely. What if they lose their phones or reformat their hard disks? Making it physical is important. With this, they just need buy and lock them in their cabinets and forget about it.
Also, it provides absolute anonymity.
The cost of one smart card can be as low as 0.2 USD [6]. So the total cost should be less than 0.18 (security printing) + 0.2 (smart card) = 0.38 USD.

3. MAKE SURE NO ONE HAS EVER SEEN THE PRIVATE KEY

In Section 2, it appears that the issuing organization will have access to all private keys, which thus makes it the single point failure. Actually, it needs not be so. When the smart card is initialised, it randomly generates a password, which can be read out once and written down on the inside of the envelope, then it generates a pair of Litecoin public key and private key itself and keep the private key confidential until someone uses the password to retrieve it, upon which the private key gets destroyed as described in Section 2.
Therefore, during this setup process, no one has access to the Litecoin private key including the issuing organization, and thus this solves the Schrodinger's private key problem.
The organization can still keep the password and thus is able to read out the private key without tampering the envelope. But they need to have physical access to the smart card, which makes the whole process much harder. To make this process even harder, we can use very short range contactless smart cards, so a guy passing by is unlikely to get your private key. As always, you can use your smart phone to check whether it still contains a valid private key or not without opening the envelope or connecting to the Internet within seconds.
In this case, the issuing organization is needed only to make sure the security printing format is standardised and well accepted. It is not convenient to have too many kinds of envelopes.

4. COMPARISON WITH OPENDIME

https://opendime.com/ offers a USB based device that has less functionality but much higher cost. Basically, the USB device randomly generates a Bitcoin public/private key pair and the private key is kept secrete until you break the USB device physically. But because it is based on USB, it cannot work with phones conveniently. This is especially inconvenient when you are receiving it but have no computer to verify the Bitcoins inside it.
Please notice that the ideas above shall not be used commercially without a consensus. Thanks.

References

[1] https://en.wikipedia.org/wiki/Security_printing
[2] http://dgyongsheng.en.made-in-china.com/product-group/qehQugzjCRcB/Coupon-vouchers-security-printing-catalog-1.html
[3] https://en.wikipedia.org/wiki/Private_currency
[4] http://www.treehugger.com/culture/how-to-print-your-own-money-build-community-not-get-arrested-by-the-feds.html
[5] https://en.wikipedia.org/wiki/Digital_gold_currency
[6] https://www.alibaba.com/trade/search?fsb=y&IndexArea=product_en&CatId=&SearchText=contactless+smart+card
submitted by xinxi to litecoin [link] [comments]

How to use bitnovo

Hello I have 4 voucher of €25 each to redeem at bitnovo... i was wondering, I've read many things about them and some people apparently got scammed and got about 50% of the value in Bitcoin without any info before redeeming? How is that possible? I'd like to ask what is the best currency i can redeem for €100 (to transfer to kraken wallet) to avoid paying 50% in fees... If I simulate the buying process i see that actual conversion shows €5-€3 depending on the currency... is that real or will it show (and send) a very different amount in the end after confirmation?
submitted by sandros87 to Bitcoin [link] [comments]

Hot new Startup - Bitcoin digital gift cards - Early Birds get rewarded !!

Dear Community,
Bitit is now alive WE NEED YOUR SUPPORT !! Subscribe & Get 200 points and more redeemable into Bitcoin ! Limited time offer. Now available. Take advantage ! > www.bitit.gift
We observed that buying Bitcoin is often seen in general as intricate and complex. Most of people simply do not know how to proceed with Bitcoins. This cryptocurrency challenges people’s curiosity everyday, but only a few know how to buy it or use it.
That’s why we invented created Bitit, a prepaid digital gift card costing from 25€ to 250€ that can be redeemed into Bitcoins.
Bitit is a Parisian based startup who wants to democratise Bitcoin buying, through a popular tool known as a digital gift card.
Bitit makes the buying of Bitcoin as easy as buying music online.
No need of ID and proof of residency check below a yearly cumulative buying of 2500€. No more waiting time. Thanks to our technology you will receive your Bitcoins within 1 hour maximum. No more concerns about storing bitcoins. We have included a Bitcoin wallet. No more extravagant fees ( we are currently working on it, we promise you a fair transaction fee ) No expiration date. Your Bitit eGift card will last forever ! Get Bitcoin rewards for each Bitit purchase, and for each new referrer ! & Enjoy multiple ways of payments : in addition to the CB, Bitit will use the increasingly popular and secure new generation payments, as direct banking (Sofort, etc.) or prepaid voucher ( Paysafe Card, Ukash).
Bitit is perfect for the last minute gift. A celebration is coming ? Buy & Share Bitit easily for your family and friends in a snap.
Once purchased, Bitit needs to be activated on the platform, at which point the funds will be made available to the customer. The exchange rate is not locked in at the time of purchase, instead, the exchange rate is guaranteed at the time you activate your card. In this way, Bitit maintain their exact value until you need to activate and spend them.
Right now Bitit is in a pre-launch phase. We have created a landing page for our community and rewarding it by subscribing with 200 points and more, which can be redeemed to get free bitcoins on your first Bitit purchase. Also enjoy our referral program, help us to get new comers & get 25 points for each referrer ! There is no points limitation ! Once your friends have passed their first order, your points will be automatically added on your Bitit account & you will get access to your Bitcoins free of charge !
How it works ? Spend 1€ on Bitit. Earn 1 point. For every 100 points earned, get 1€ redeemable in Bitcoin value on your next purchase.
Subscribe & Get at least 200 points for free ! >> www.bitit.gift
Buying Bitcoins, has never been so easy. We make it simple and fast.
Join us ! We need your support ! Get at least 200points redeemable in free Bitcoins !
www.bitit.gift
Facebook : https://www.facebook.com/BititGiftCard Tweeter : https://twitter.com/Bitit_Gift
Have a question ? [email protected]
From Paris with love <3
The Bitit Team
submitted by Bitit_Gift to Bitcoin [link] [comments]

Feedback on Bitcoin writing sample

Hey crew, recently dropped an app in for a job with Coinbase as a Legal Associate. The job form had originally asked where Coinbase should file for a Money Transmitting License. I decided to research the issue a bit and use it as my cover letter. I'd like to refine it a bit and use it along with some other apps as a writing sample, wanted to get some feed back:
There are three scenarios that Coinbase could choose to pursue: 1) Request no-action letters from each state under the theory that Coinbase' activities do not fall within the traditional definitions of a “money transmitter” or fall under one of the state exemptions; 2) File for a MTL in California and Delaware where Coinbase has it principal place and is incorporated, due to the high likelihood of being subject to personal jurisdiction in these states; 3) File for a MTL in all 47 states with legislation on the matter.
Under federal law, 18 UCS § 1960, businesses are required to register for a MTL where their activity falls within the state definition of a money transmitter. Under current legislation 47 states require “money transmitters” to register for an MTL. As stated above, Coinbase principal place of business and state of incorporation is California and Delaware respectively. However, Coinbase' services are available to anyone in the United States regardless of their state of residency. This could very likely subject Coinbase to jurisdiction in every state, or at the very least be forced to close operation in states where it does not comply with Anti-Money Laundering (AML) laws.
I. Request for No-Action Letter
Under the first scenario Coinbase could request a no-action letter from each state where it operates. For example: the California Department of Business Oversight (previously the Department of Financial Institutions) in California. Under this theory Coinbase could provide the following argument that its services do not fall within the State's definition of a money transmitter. California law defines “money transmitters” as any business which engages in the activities of: 1. "selling or issuing payment instruments;" 2. "selling or issuing stored value;" and 3. "receiving money for transmission" Cal. Fin. Code § 2003(o).
A. Bitcoin is Not a “Payment Instrument” Under California Law
Coinbase does not operate any services under the first prong of “selling or issuing payment instruments” because bitcoin does not fall within the definition of a “payment instrument” under California law. Payment instruments are defined as “a check, draft, money order, traveler's check or other instrument for the transmission or payment of money or monetary value, whether or not negotiable” Cal. Fin. Code § 2003(q). A payment instrument “does not include a credit card voucher, letter of credit, or any instrument that is redeemable by the issuer for goods and services provided by the issuer or its affiliate." Id.
Coinbase is not the “issuer” of bitcoin because an issuer within the context of payment instruments is “the entity that is the maker or drawer of the instrument in accordance with the California Commercial Code and is liable for payment” Cal. Fin. Code § 2003(k). Coinbase is not the maker of bitcoin because bitcoins are created by the network itself after a user provides proof of work solving the mathematical algorithm to unlock new bitcoins. Furthermore, Coinbase is not under any obligation to remain “liable for payment” to any particular user who wishes to redeem their bitcoin for USD or other currency.
Coinbase is not the “seller” of a payment instrument because bitcoin is not an “instrument.” Under the California Commercial Code negotiable instruments “must involve a written instruction or undertaking” Cal. Comm. Code § 3103(a)(6). With a bitcoin transaction there is no written instruction or undertaking, it is simply a transfer of possession of the private keys associated with a particular bitcoin or fraction thereof.
Each bitcoin is a unique piece of property, not a currency, as evidenced by the IRS Notice 2014-21. The ruling treats bitcoin as property, not as an instrument, note, or draft. Each bitcoin is inherently unique because ownership is based purely on possession of specific private keys associated with the bitcoin and authenticated by the public ledger in the Bitcoin network. Once Coinbase has given a user possession of the private keys associated with a bitcoin, Coinbase is no longer under any obligation to transact with that user again or exchange the bitcoin for another currency.
Because Coinbase is not the “issuer” of bitcoin and bitcoin is not a “payment instrument” rather it is unique property, Coinbase is not engaging in activity described in the “payment instrument” prong of the Money Transmitter Act.
B. Bitcoin is Not “Stored Value” as Defined Under California Law
Coinbase is not "selling or issuing stored value" Cal. Fin. Code § 2003(o).“Stored value” is defined as an agreement to exchange monetary value for a promise to later redeem that value for a fixed amount, “evidenced by an electronic or digital record” Cal. Fin. Code § 2003(v). Coinbase does not offer redemption value for bitcoins sold to its customers. Coinbase service merely transfers property ownership of the private keys to a bitcoin. At no point in time is Coinbase obligated to redeem any specific stored value because the value of a bitcoin fluctuates wildly with the market. Furthermore, Coinbase is not the “issuer” as discussed above because bitcoin is “issued” by the network's proof of work algorithm and verified by peers in the public blockchain ledger.
C. Coinbase Does Not Accept Funds to Be Transmitted to a Third Party
California Finance Code requires that services "receiving money for transmission" register as Money Transmitters Cal. Fin. Code § 2003(o). A service accepts money for transmission where it accepts funds from one user and subsequently transfers those funds to a third party within or outside the United States Cal. Fin. Code § 2003(s). The basis of Coinbase business model is not the transmission of money, nor does it transfer funds, money, instruments, or bitcoin from one user to another. Coinbase purchaces property in the form of each unique bitcoin from its users, Coinbase is then free to keep, sell or destroy that property at will. The fact that Coinbase has simultaneous purchase and sell features does not change the nature of this because at no point in time as any property or bitcoin transmitted anywhere other than from a user to Coinbase, or vice versa.
This conclusion is further evidenced by the Department of Business Oversight's (formerly the DFI) concurrence that “Foreign Currency Exchange Services - Not Subject to money Transmission Act” Available at HYPERLINK "http://www.dfi.ca.gov/Laws/orders_files/Opinion-Foreign_Currency_Exchange_Services.pdf"http://www.dfi.ca.gov/Laws/orders_files/Opinion-Foreign_Currency_Exchange_Services.pdf. There the Department concluded that the sale of pesos in exchange for a fee and U.S. Dollars was not a money transmission. This conclusion was drawn because the service did not transmit money to a third party and it did not remain liable to later redeem value for the pesos. The service described in the opinion is strikingly similar to the service offered by Coinbase.
Because Coinbase does not receive money to be transmitted to a third party and it does not obligate itself to later redeem value for a bitcoin, it does not fall under the regulation of this prong of the California Finance Code.
II. File for a Money Transmitting License in California and Delaware
Should regulations emerge that more clearly place bitcoin under any of the definitions described above, it would be prudent for Coinbase to register for a Money Transmitting License in California and Delaware.
Business entities are most likely subject to jurisdiction where they maintain their principal place of business, and often as well in the state of incorporation. 28 U.S.C. § 1332(c)(1) provides that "a corporation shall be deemed to be a citizen of any State by which it has been incorporated and of the State where it has its principal place of business." Relatively recently, the U.S. Supreme Court ruled that the “principal place of business” is the “nerve center” or decision making headquarters of an entity, as opposed to a main place of manufacturing or lower level of operations Hertz Corp. v. Friend, No. 08-1107, slip op. at 1 (U.S. Feb. 23, 2010).
Because Coinbase main office is located in San Francisco, California and the state of incorporation is in Delaware at the very least Coinbase is subject to jurisdiction and regulation in each state mentioned. Therefore, the first applications for a MTL should be completed in California and Delaware if Coinbase required to comply with money transmitting regulation.
III. File for a Money Transmitting License in all 47 States with Applicable Regulations
The nature of Coinbase business is such that it has users across the nation. At the time of writing 47 states have related legislation regarding money transmission. South Carolina and Montana do not regulate money transmission, New Mexico only regulates “negotiable instruments” which is not applicable to bitcoin, for similar reasons as discussed above. Coinbase possibly avails itself to the laws and regulation of each state it allows customers to transact in. Therefore, Coinbase could be subject to jurisdiction in every state where its services are available.
Individual analysis of each state's money transmitter regulations are beyond the scope of this document. However, I would be happy to research any specific state or federal regulation in furtherance of the application process and pursuit of employment with Coinbase.
submitted by vinnie_james to LawSchool [link] [comments]

ICO: Regulation of Types of Token in Germany

ICOs (Initial Coin Offering), often referred to as ITS (Initial Token Sale) or (Token Generation Event), are a current hot topic for debate. The product issued in an ICO is a blockchain-based coin or token (hereafter referred to only as tokens). Its technical design is as flexible as the associated rights such that the technical distinction between coins and token is of no legal relevance. However, a distinction can be made between three categories, Security Token, Utility Token and Currency Token, according to the rights a token conveys.
The German Federal Financial Supervisory Authority (BaFin) recently published an official note, at end of February 2018, in which it considers ICOs as potentially falling under the scope of existing regulation, depending on its respective design. There is no universal indication as to how an ICO is possible or how the exact legal classification of the tokens should be made. As such, each and every ICO has to be evaluated on a case-by-case basis to determine the possible regulation of the issued token. However, in a consumer warning, an expert article and the official note, BaFin has made clear that some ICOs are not subject to regulation or capital market-specific investor protection requirements.
https://preview.redd.it/gi6yvmhbknz01.jpg?width=1600&format=pjpg&auto=webp&s=834aa47e488b916972f223aaf2169f39838a3870
  1. Security Token
By issuing security tokens, often also called equity tokens or investment tokens, the issuer promises some sort of return (either in the form of a commercial stake, interest or similar). Usually, they grant the right to profit sharing, but no original company share, which would be particularly difficult at least for a GmbH in Germany to do due to formalities. Examples of security tokens are EVN tokens (where investors from Germany were explicitly not permitted participating in the ICO) und tZERO. BaFin clarified that there are no legal limitations as to which rights a token must or can confer on the holder. Therefore, the provider has free reign in the design of its token. In particular, a security token does not have to grant any shareholder rights, information rights, control rights or voting rights.
Depending on the design, token can qualify as securities, according to the German Security Trading Act (WpHG) and German Security Prospectus Act (WpPG), or as capital investments, according to the German Capital Investment Act (VermAnlG).
The criteria for classifying as securities are comparatively clear and closely tailored to the capital market. In short, the token has to be standardized, tradeable on a (capital) market and transferable. If the rights represented by a token are comparable to shares, bonds and certificates, it is obvious that this is a transferable security. Whether tradability on a crypto exchange is already sufficient to qualify as to be tradable on the capital market is debatable. In any case, the classic capital market concept was based on the possibility of good faith acquisition. Unrestricted tradability on the market implies that the transactions can be handled safely and easily and that there can be no objections from third parties. This is regulated by law for some securities (for example bearer and order securities). For tokens, however, the applicability of good faith principles has not yet emerged, so that the token transfer by an unauthorized person need not be legally preserved and can be reversed. So far there is no other special legal regulation.
It is more likely that a token represents a capital investment, regulated under the German Capital Investment Act (VermAnlG). This includes, but is not limited to, shares that grant a share in the results of a business, subordinated loans, participatory loans, and “other investments” which provide or promise to provide interest and repayment, or any other form of cash settlement in exchange for temporary lending. Generally, in the event that a token promises a dividend or other kind of interest payment, it qualifies at least as an “other investment”.
Both securities and capital investments are regulated. Thus, in Germany (regardless of the issuer’s domicile), their offering requires the publication of a prospectus approved by BaFin (or an EU passport replacing such BaFin approval).
  1. Utility Token
Utility Token are a kind of digital voucher which can be redeemed against a promised service of the issuer. Examples include savedroid’s SVDs and filecoin. “True” Utility Token are not regulated as financial instruments in Germany. From BaFin’s point of view, simply naming a Utility Token as such is not sufficient criteria in order to legally determine the nature of the token. Moreover, the regulator does not outline any possibility, in any of its guidance publications, for the classification as a “pure” Utility Token that is distinguished from the Security Token in that it does not require a prospectus. Nevertheless, token purchases are still protected by consumer protection law even if no capital markets or financial instruments regulation applies.
  1. Currency Token
More legal certainty exists with Currency Token, also called cryptocurrency. The most well-known example for a coin is Bitcoin. Other examples of Currency Token are Ethereum (or Ether) and Ripple. An essential feature is the money replacement character of the token, as they serve as decentralized currency.
The legal classification in Germany was made by BaFin at an early stage. Already by the end of 2013, BaFin determined that Bitcoin constitutes so-called units of account. Units of account are comparable to foreign exchange. As a consequence of this classification, they are considered financial instruments and their trading is therefore subject to special financial regulatory requirements; an uncomfortable reality experienced, for example, by one crypto company at the end of January 2018, when BaFin ordered cessation of its unauthorized Bitcoin broking services..
The company advertised to sell Bitcoin for customers on cryptocurrency exchanges. However, since Bitcoin is a financial instrument, permission from BaFin is required: in the specific example given, for the provision of brokerage services (Finanzkommissionsgeschäft).
  1. FinTech companies are not in a legal vacuum
It is important to remember that the FinTech sector does not exist in a legal vacuum. Recently, the Higher Regional Court of Hamm confirmed a decision of the district court of Münster, which ordered the attachment on commissions of nearly €3 million, which a company had received for forwarding purchase price payments for OneCoin to the respective issuer, without having BaFin’s permission as a payment service provider (Higher Regional Court of Hamm, Decision dated 4. Januar 2018, Re: 4 Ws 196/17; 4 Ws 197/17).
These developments highlight the highly regulated and legally-complex nature of the financial services market in which today's FinTech businesses operate as well as the value of good legal advice when conducting business in the sector.
Source

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submitted by AgroTechFarmICO to u/AgroTechFarmICO [link] [comments]

I'm a scientist who studies humans. Can you help me give my research participants the option of being paid in bitcoin?

I'm a Professor at a Canadian university and after several meetings, it's been determined that there's and there is no rule against me paying participants to do my studies/experiments in Bitcoin at the University. But, all participants must get paid the same CAD (can't be USD value) value for every experiment (pro rata) or it will not pass through the human research ethics board. The school isn't interested in dealing with legal and taxation issues surrounding buying and distributing Bitcoin either.
My solution is to buy gift vouchers denominated in CAD for a bitcoin exchange or other similar reputable website where participants can redeem those vouchers for whatever the current market value of bitcoin is. That way I'm technically giving away gift vouchers (which are commonly given away for experiments), not bitcoin, hence solving any issues with fluctuations in fiat value and taxes since the Uni never holds coin.
Does this exist? If not, can you help me think of another way to do this that does exist?
submitted by profthrowaway88 to Bitcoin [link] [comments]

Bitcoin's UK Future Doesn't Look Quite So Bleak

The BitPrice team has been in discussions with the UK government and regulators about Bitcoin for the past 9 months. Although I share many of the frustrations expressed here, I am much more optimistic about the outlook for Bitcoin in the UK.
As a prospective UK Bitcoin exchange, we have managed to secure meetings with the FCA, HM Treasury and Number 10 Policy Unit - in fact we’ve managed to get into Downing Street twice to talk about Bitcoin. At the higher levels there does seem to be a genuine desire to engage with and promote new financial technologies such as Bitcoin, and to increase competition in the UK banking and payments sector.
Educating people is still 99% of the battle – explaining what Bitcoin is, dispelling the myths and spelling out the benefits, whilst not ignoring the risks. The VAT issue is an example of the obvious lack of understanding of Bitcoin in some quarters. We were also notified by HMRC that they consider Bitcoin to be a voucher: "most likely a face-value voucher", on which VAT must be paid. For anyone with even a basic understanding of Bitcoin, this obviously doesn't make sense: they aren't issued by anyone, they don't have a "face value" and they can be redeemed for a wide range of goods and services.
If they insist on using the "voucher" classification, the "credit voucher", which can be "redeemed at a number of retailers" and on which VAT is not usually due, seems more appropriate. Hopefully this issue can be resolved quickly by simply switching to this classification.
The upshot of these meetings is that we do now have a commitment from the Treasury that they will seriously consider how Bitcoin might achieve official recognition in the UK. In doing this the government is seeking input from Bitcoin businesses, for example through the FinTech Challenger Business Workshop that NewFinance organised a couple of weeks ago. Any interested parties can submit comments, which will be passed on to the government, see:
http://files.meetup.com/2243521/RFC%20-%20FinTech%20Challenger%20Businesses%20Workshop%20-%20Oct%202013%20.pdf
A common concern expressed by many fintech businesses at this event was the difficulty in obtaining bank accounts and accessing the UK payments network. This issue isn’t restricted to Bitcoin businesses – at the moment it is almost impossible for any money service business to obtain a bank account in the UK. The current lack of recognition of Bitcoin by financial regulators doesn't help the situation, but it is a wider money laundering issue.
Overall, I am optimistic that the UK will take an enlightened approach to Bitcoin, and that banking and tax issues will be resolved soon. London has become so dependent on the financial services sector that it simply cannot afford to ignore such a revolutionary financial innovation.
Tom Robinson
BitPrice
www.bitprice.com
submitted by bitprice to BitcoinUK [link] [comments]

Bitcoin's UK Future Doesn't Look Quite So Bleak

The BitPrice team has been in discussions with the UK government and regulators about Bitcoin for the past 9 months. Although I share many of the frustrations expressed here, I am much more optimistic about the outlook for Bitcoin in the UK.
As a prospective UK Bitcoin exchange, we have managed to secure meetings with the FCA, HM Treasury and Number 10 Policy Unit - in fact we’ve managed to get into Downing Street twice to talk about Bitcoin. At the higher levels there does seem to be a genuine desire to engage with and promote new financial technologies such as Bitcoin, and to increase competition in the UK banking and payments sector.
Educating people is still 99% of the battle – explaining what Bitcoin is, dispelling the myths and spelling out the benefits, whilst not ignoring the risks. The VAT issue is an example of the obvious lack of understanding of Bitcoin in some quarters. We were also notified by HMRC that they consider Bitcoin to be a voucher: "most likely a face-value voucher", on which VAT must be paid. For anyone with even a basic understanding of Bitcoin, this obviously doesn't make sense: they aren't issued by anyone, they don't have a "face value" and they can be redeemed for a wide range of goods and services.
If they insist on using the "voucher" classification, the "credit voucher", which can be "redeemed at a number of retailers" and on which VAT is not usually due, seems more appropriate. Hopefully this issue can be resolved quickly by simply switching to this classification.
The upshot of these meetings is that we do now have a commitment from the Treasury that they will seriously consider how Bitcoin might achieve official recognition in the UK. In doing this the government is seeking input from Bitcoin businesses, for example through the FinTech Challenger Business Workshop that NewFinance organised a couple of weeks ago. Any interested parties can submit comments, which will be passed on to the government, see:
http://files.meetup.com/2243521/RFC%20-%20FinTech%20Challenger%20Businesses%20Workshop%20-%20Oct%202013%20.pdf
A common concern expressed by many fintech businesses at this event was the difficulty in obtaining bank accounts and accessing the UK payments network. This issue isn’t restricted to Bitcoin businesses – at the moment it is almost impossible for any money service business to obtain a bank account in the UK. The current lack of recognition of Bitcoin by financial regulators doesn't help the situation, but it is a wider money laundering issue.
Overall, I am optimistic that the UK will take an enlightened approach to Bitcoin, and that banking and tax issues will be resolved soon. London has become so dependent on the financial services sector that it simply cannot afford to ignore such a revolutionary financial innovation.
Tom Robinson
BitPrice
www.bitprice.com
submitted by bitprice to Bitcoin [link] [comments]

My mom sent me a link about bitcoin - and I responded...

So I woke up today, finding an email in my inbox from my mom.
Subject line: bitcoin bubble burst.
with the following link http://www.youtube.com/watch?v=473im7hKMG8
with nothing else was written.
The video is from Dec 18th, I believe.
She knows I'm interested in bitcoin, as I was really into the idea of arbitrage, and sending money to China for some quick profits - sadly that idea fell through before I could get verified with exchanges but I only really looked into what BTC was when it hit $500/BTC in November. I showed this idea to my dad, and he was in on the idea with me - he was like, "sounds like an alright idea to me, can I give you $6k to do this and we'll make some coin?" :) but it never materialized :(
Just to give you some quick background, my dad operates a business which also has an online operation. I removed the name, and also am using a throwaway - I don't really want to attract attention to myself, my family or business but really want to show y'all, and see if I did it right.
After receiving this email, I wanted to really tell my mom not to be such a doubter. and wrote her the following:
This is really old news now.
On dec 18, the price if btc was $550usd. From a previous high of about $1200 maybe a week earlier. The video is not wrong in the hypothesis that it was probably the chinese government "shutting off" the new deposits into bitcoin. But they did not outright ban it. What happened is they declared that it's not a currency and that means that financial institutions were barred from dealing and accepting bitcoin - which was nothing really new. What actually happened is the government said that now third party money processors like paypal , alipay and tenpay which is popular in the online ecommerce space are barred from clearing deposits effectively shutting that down
But if you know anything about chinese people, they always find a way around the law. And it's become evident that deposits are still possible and are still happening. The current method I believe is to purchase a voucher at a physical location like a store which can be redeemed for face value at the website and withdraws are done directly into your bank account. So therefore the government basically disrupted bitcoin for about 2 weeks
The price right now is hovering at about $828usd. And has been as high as $925 in the past week.
So there is no doubt that it's very volatile in price. But I would not characterize this as a bubble burst but probably a correction. There is still some relative stability in the price compared to it's crazy run up in price from April until December however. The history of bitcoin has shown that it's some this pattern of behaviour a few times already. It runs up in piece 4-5x then pops, losing up to half it's value or more and remains stable for a period of time. Then sole financial crisis hits and people pile into btc and run the price up.
The benefit to btc is not the speculative nature of it, unless you are a speculator... It's the fact that you can send a store value of money digitally without an intermediary in the way like paypal or a bank. For the xxxxxxx store, it could benefit by adopting a bitcoin payment processor (which already exists called bitpay) as a plug in into big commerce (the current ecommerce platform for the store). For example, The price of a router is $100usd, bitpay will automatically adjust the btc price to match the current worldwide price in usd terms. A customer makes a purchase in btc and the coin then is instantly converted to $100 usd effectively removing the exchange rate risk. This cost 1% fee or $30 a month subscription at 0% fee. The transaction is instant and is irreversible meaning no chargebacks or holds are possible from the credit card company or bank.
Compare this with paypal - they will charge you a 30c flat fee and also then charge you another 2.6% fee (could be less or more bit it's within this range) as well. Last d spoke to me, The store does about $100k in revenue In a month. Even if only 5% of transactions turn out to be in bitcoin and just to make it easy say paypal costs 2% flat fee ($100 out of $5000), the bitpay option saved you $50, and if you went with a subscription fee instead, then you saved $70. It's not much but it also adds up.
There is no doubt in my mind that bitcoin is definitely here to stay. Think of it like what email is to regular mail, and it's electronic cash - instant irreversible accepted everywhere and is handed from one hand to the other. Think of what email and internet was in 1995. Not many knew about it and a lot of people were probably doubting its usefulness. But now here we are today 19 years later: Canada post declared it's stopping home delivery service, and usps is also struggling to break even. We're emailing each other right now communicating in real time. Imagine in 19 years we'll have a free way to send each other large sums of cash without a bank saying "that will be $30 to send, another $30 to receive... Oh and there's a 1.5% exchange rate spread too"... I like that idea a lot and actually, we can already do it right now and it's called bitcoin. Don't think of it as a store of value! Think of it as a way to send and receiving money!
I ended up finding out that BigCommerce doen't accept or use BitPay, but use BIPS instead which is not a fully supported solution, which is a big time bummer - I got the facts wrong. But the hypothetical example highlights that the benefits are all good, especially for sellers. BIPS is also not as transparent about the cost - and the exchange rate is a big difference. BitPay is $817/USD vs. BIPS at $791/USD.
submitted by ilikebtc to Bitcoin [link] [comments]

Iconiq Lab - Digital Asset Management Ecosystem ebay-free ebay gift card Will This Signal Redeem Bitcoin?? Is A Bullish Pulse Incoming? How to buy Steam Voucher  Games  Gift cards with Bitcoin  Cryptocurrency Redeemable Preference Shares Theory

Bitcoin Gift Card Vouchers from FastBitcoins - Bitrefill. COUPON (1 days ago) Bitcoin Gift Card Vouchers from FastBitcoins. We're excited to announce our new partnership with FastBitcoins.com, allowing us to offer Bitcoin voucher redemption codes as a way to purchase and gift Bitcoin to anyone, anywhere, without needing to use a traditional exchange or ATM. Crypto Voucher (Bitcoin) 10 EUR Key - G2A.COM. VOUCHER (1 days ago) Crypto Voucher is a convenient and cheap way to get BTC, ETH, LTC and other cryptocurrencies instantly. The fees are low, transparent and reflect the real-time exchange rate. Buying cryptocurrency with a Crypto Voucher is very easy, all you need to do is select the voucher value you want to buy. Buying bitcoin with cash or with a card is 100% safe, simple and easy in Bitnovo. ... Buy vouchers with euros and then you can exchange the value of this voucher in cryptocurrency. You can get vouchers at ATMs and at physical points of sale. The vouchers redeemable for cryptocurrencies allow us to collaborate with other companies that offer them, so that users like you can redeem them on ... Flexepin is a pre-paid non-reloadable voucher that's redeemable for instant delivery of Bitcoin on MyBTC.ca. Follow these simple steps to get your Flexepin voucher and redeem it on MyBTC.ca for Bitcoin, today! Buy a voucher online or in-store at any of the 6,000+ retail locations Canada-wide. A financial instrument whose value is accessible by redeeming the code. Redeemable codes are generally considered "bearer" instruments such that whichever party is first to redeem the code becomes the owner of those funds. Some bitcoin exchanges offer redeemable codes as a method that allows funds to be transferred from one user to another. These codes might be denominated in bitcoins (BTCs ...

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Iconiq Lab - Digital Asset Management Ecosystem

Best way to change your gift cards to bitcoin - Duration: 13:12. Chameleon073 Tube 20,347 views. 13:12. How to Buy Bitcoins with Gift Cards at the Best Price - Duration: 8:16. Jude Umeano 2,493 ... Click Here : https://link.bindul.com/go/XrDF24Qc - Amazon Uk Gift Voucher Offer Related search : Redeem Code Warface 2019 Redeem Your Code Traduçao Redeem Yo... Iconiq ICO Review In this review Mark goes over the Iconiq ICO details. Iconiq Lab is the world’s first decentralized venture capital group powered by the ICNQ token and our ICO accelerator program. Vera Trading: Live Bitcoin Price Chart and Live Bitcoin Trading with Crypto Robot DeriBot. Vera Trading 238 watching. Live now In this video, Theory Part of Redeemable Preference Shares is discussed in detail. When the capital is raised by issuing redeemable preference shares it is t...

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