Bitcoin Weekly Recap 2-5-2016

Bitcoin Weekly Recap 2-5-2016


Rebit Partners with Pawn Network Cebuana Lhillier

Bitcoin remittance leader Rebit has announced that it is partnering with the Philippines’ largest network of pawn shops, Cebuana Lhuillier. The collaboration is designed to provide the nation’s citizens with expanded access to cash from abroad by providing a way to avoid reliance on higher-priced global fund transfer companies like MoneyGram and Western Union.

Pawn shops in the Philippines already serve as a primary vehicle for Philippine remittances, as many citizens lack access to banking services. Now, those citizens are being offered an opportunity to receive their money mere minutes after it is sent - at fees that are expected to be substantially lower than existing rates. Given that the nation remains the world’s third largest recipient of these types of remittances, this should come as very welcome news to the Philippine people.

Tesla Purchased with Bitcoin in Finland

Late last month, the Finnish Auto Outlet Helsinki Oy enjoyed its first Bitcoin sale of a car when a buyer purchased a Tesla Model S P85+. The vehicle sold for an amount equal to €140.000, and is the just the first of many such sales if payment service BitcoinKaupat has its way. According to that company’s CEO, Aleksi Vitakoski, this sale is just one more step in Bitcoin’s continuing quest for widespread acceptance and use in Finland.

Finland has become a leader in Bitcoin acceptance already, with an increasingly large number of opportunities for Bitcoin users to spend the currency. The country’s acceptance of cryptocurrency has at least in part been spurred on by a national media that continues to focus attention on Bitcoin and the merchants that accept it. In fact, Bitcoin has become so integrated into Finnish society that Vitakoski asserts that citizens could live in Helsinki using no other currencies.

SatoshiPay Announces Bitcoin Online Content Monetization Network

Internet payment company SatoshiPay recently launched a new Web publisher platform that allows content creators to monetize their work using micropayments. The technology permits users to engage in transactions consisting of a penny or less. Such small transactions are referred to in the industry as micropayments, and were until now extremely difficult to manage for established payment systems that have tended to avoid such minute amounts.

The new network system could be a boon for content publishers who have lacked a way to sell content on a piecemeal basis. With these new, more rapid transactions, and the ability to process them rapidly, buyers can choose from portions of video content, sections of published text, or other segments of content. This system of payments is being promoted as a more effective option for publishers who want to avoid mandatory site registration models, or the use of paid advertising that can annoy site visitors.

Bitcoin Group Misses Funding Goal

Mining company Bitcoin Group missed its 20 million AUD initial public offering goal, raising just short of thirty percent of that target amount: 5,927,168.40 AUD. That announcement comes as the company continues its work to obtain a listing on the Australian Stock Exchange - a first for any Bitcoin company. Company officials expressed optimism about their funding efforts, referring to the admittedly smaller-than-expected total as a “solid result” that would still enable the company to follow its original plan of using the funding for the purchase of new equipment.

In Case You Missed It…

Contributor Evander Smart’s latest offerings takes a look at yet another chapter in the continuing back and forth saga of Europe’s ongoing attempt to come to grips with Bitcoin and other digital currencies. If you haven’t done so already, check out European Commission Plans New Consumer Regs Against Bitcoin Use to “Fight Terrorism” to read his take on the issue.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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