Online Marketplace Flavours Place Helps Bitcoin, Small Businesses, and Coffee Lovers Worldwide

Rare coffee and tea online marketplace Flavours Place has announced some new changes to its platform. The Hong Kong-based company has recently extended its services to include more specialized coffee beans and offer green coffee farmers support by accepting Bitcoin payments and the sale of second hard coffee equipment.

[Note: This is a press release.]

 

Flavours Place aims to help coffee bean farmers become less reliant on wholesale distribution channels to get their products out into the marketplace. Such farmers are currently losing a significant portion of their profits on high intermediary commissions, for only putting their products into the market.

Since the marketplace launch, Flavours Place has expanded its product range to include rare cocoa and spices. Also, the company is promoting the direct trade between importers and farmers, small batch roasters and other similar socially-minded businesses. Flavours Place has also started inviting farmers and small batch roasters to sell their produce on the platform.

Flavours Place is now pushing their focus towards more specialized coffee to encourage the sale of more green coffee beans for home roasting and smaller business. Flavors Place recently changed its platform to facilitate the sale of second-hand coffee equipment, which they believe will help smaller businesses that don’t always have the financial means to buy all the latest equipment by top brands.

Flavours Place has taken a strong stance on Bitcoin, allowing only businesses who accept Bitcoin transactions, to register on their market platform. It helps to promote the cryptocurrency across the whole platform. In addition to Bitcoin, Flavours Place also accepts USD, EUR, and PayPal payments.

All platform sellers are encouraged to sell directly to customers retailers and small batch roasters. The company has welcomed sellers from all backgrounds to join the marketplace, as long as they can accept

AT&T Patents Bitcoin-Based Subscriber Server

Telecommunications giant AT&T was recently awarded a patent for a Bitcoin-based “Decentralized and distributed secure home subscriber server device.”

AT&T’s Bitcoin-Based Subscriber Server

In the midst of the current Bitcoin frenzy, where regular users and traditional investors are looking at it as a safe haven investment or a cheaper payment method, some companies are realizing the value in its underlying technology and the applications that can be built on it. This is the case with telecommunications giant AT&T.

The multinational telecommunications conglomerate was recently awarded a patent for a Bitcoin-based subscriber server, which was filed over two years ago in April 2015. The patented server uses the actual Bitcoin blockchain to automate payments and to process subscriptions more efficiently.

The patent reads:

A decentralized and distributed secure home subscriber server is provided. First data can be sent representing a first nonce string to a mobile device; and in response to receiving second data representing the first nonce string and a second nonce string, a communication channel can be established with the mobile device as a function of the first nonce string.

[T]he disclosed decentralized and distributed secure home subscriber server system can leverage the Bitcoin blockchain; the distributed database in the bitcoin infrastructure.

[…] in cases where the decentralized and distributed secure home subscriber server system utilizes the bitcoin blockchain, advantage can be taken of the plethora of nodes contributing and maintaining the security of bitcoin transactions.

AT&T decided to use Bitcoin itself for security reasons as opposed to building a private blockchain, thus leveraging Bitcoin’s superior network and hashing power. The use of the Bitcoin blockchain could also mean that Bitcoin itself may one day be integrated as a payment method for content or phone and cable bills, freeing AT&T from middlemen fees.  

AT&T …&

Bitcoin Price Hits New All-Time High, Nearing $3,000

Bitcoin price has gained in value for 8 consecutive weeks, reaching all-time highs around the world as it nears the $3,000 mark. Moreover, BTC price has already broken the  20,000 CNY milestone. 

Vertigo Inducing Rise

It has been an amazing ascent for Bitcoin as it continues to defy critics, reaching its 8th consecutive rise in so many weeks. This latest bull run shows little sign of stopping and many fear it is a bubble waiting to pop, not without good reason, as such rises are very rarely sustainable.

“Is this just a speculative mania, or is it evidence that bitcoin is taking on a more substantial role as a medium of exchange or a store of value?” asks The Economist.

The BTC/USD trading pair has gained for 8 straight weeks. Note that the weekly green candles do not even register the pullback from $2,700 to about $1,850 that occurred on May 25th.

Counter to the bubble theory, people see reasons for this meteoric rise as actual recognition for Bitcoin’s true value.  A value based on its technology, usage potential and also that many have yet to even enter the market to purchase it.

Further to this is that buyers generally know what they are purchasing when it comes to, at least, the primary cryptocurrencies. These are not packages containing toxic assets and they are not actively scams. In fact, when one holds their bitcoin and secures their private keys, they are in full control of their funds.

“Both the buyer and seller know all there is to know about the exchange,” Charles Hugh Smith, blogger, OfTwoMinds.com explains. “That’s not true of rackets like offloading a package of toxic mortgages as a mortgage-backed security.”

Growing Trade Volumes in Asia

Market trade, as well as prices, for Bitcoin in Asia are growing too, with exchanges in China, Korea and Japan

UK’s Most Popular Investment Platform to Offer Bitcoin

UK’s most popular investment platform, Hargreaves Lansdown, will soon allow its clients to invest in Bitcoin.

Hargreaves Lansdown

Hargreaves Lansdown, the administer £70bn of investor money with 876,000 clients, has announced it will allow customers access to invest in Bitcoin.

“By adding self-service, online dealing, the team at Hargreaves Lansdown is providing UK investors with professional and quick access to bitcoin in the UK and greater Europe,”  Ryan Radloff, XBT’s head of investor relations told the Telegraph.

This follows the recent news that the American financial services corporation, Fidelity Investments, will soon allow their clients the ability to view their cryptocurrency holdings on the Coinbase website.

However, Hargreaves Lansdown, are using a fund offered by a Swedish company, XBT Provider, which is structured as an ETN or exchange-traded note. These funds are listed on the stock exchange meaning Bitcoin can be bought and sold as a share.

“The value of and any amount payable under the certificates will be strongly affected by the performance of Bitcoin and the US dollar/krona exchange rate,” XBT Provider explains. “As such an investment in the certificates is likely to be highly volatile and thus risky.”

In other words, British Bitcoin investors will be exposed to two areas of risk, not just the famous volatility of the cryptocurrency itself, but also to the US dollar/Swedish Krona exchange rate.

Clients Asked to Invest in Bitcoin

Danny Cox, head of communications at Lansdown noted that the decision to add Bitcoin as an investment option was driven in part by customer demand.

Cox:

We have seen a handful of clients asking for the ETN, so it’s not purely driven by a provider wanting to be listed.

This interest, although written off as a handful, demonstrates that the demand must surely have been significant among traditional investors for the company to include it.

Despite

These 10 Global Cities are Catching Bitcoin Fever

As Bitcoin continues to break new price records, people in cities around the globe are turning to the internet to find out more.

Bitcoin Trending Worldwide

As Bitcoin continues to rally, this time nearing the $2,300 mark, its worldwide popularity has become undeniable. With over $36 Billion in market capitalization Bitcoin is slowly walking towards mainstream adoption, a long and arduous journey that began more than eight years ago. Not only are millions of dollars pouring into Bitcoin’s market cap everyday from new investors, many users that have yet to invest are turning to internet search engines in order to find out how.

A look at Google’s trending topics by city reveals that the topic is not only being searched in the U.S, but also throughout the world in Europe, Africa, and Asia. Cities that are not knowing for their Bitcoin industry have made it to the list, which means that Bitcoin’s popularity keeps growing, even in places where it is not being widely used.

On the 22nd, Bitcoin even made it to the 6th place as the most popular search term in the U.S with more than 200,000 searches. Also in the top 20 is the search term “Ethereum,” reaching the eighteenth spot after news that the Enterprise Ethereum Alliance added 86 new members.

Top 10 Cities Searching ‘Bitcoin’

 A look at the cities that are googling Bitcoin reveals a diverse list composed of:

Lagos San Francisco Amsterdam New York Toronto Singapore Los Angeles Vienna Melbourne Sydney

Starting with Lagos, a city in the Nigerian state of Lagos, and the city that is currently showing more interest in Bitcoin than any other. Although Bitcoin isn’t as popular as it is in other countries, the first place in Google search trends is probably driven by the country’s need for a decentralized

Peach Becomes Japan’s First Airline to Accept Bitcoin

Peach Aviation Ltd has become the first Japanese airline to accept Bitcoin with the company citing recent changes to Bitcoin’s legal status in the country. 

Japanese Airline Goes Bitcoin

The discount airline has announced that it will accept the world’s most popular cyrptocurrency Bitcoin for tickets. One of the reasons for the move is to attract more customers from other part of Asia where Bitcoin is also taking off like China and South Korea.

Customers can use Bitcoin to book tickets starting by the end of the year, Peach said in a statementMonday. It also added that the company’s decision was driven by the update to Japan’s law on settlement in April, which made Bitcoin a legal form of payment in the country.

What’s more, Peach plans to work with local government and regional companies to facilitate the usage of Bitcoin.

Shinichi Inoue, Peach chief executive officer stated:

We want to encourage visitors from overseas and the revitalization of Japan’s regions.

Other Carriers Accepting Bitcoin

Peach, however, is not the first airline to accept Bitcoin for flight tickets. AirBaltic made head waves in 2014 when it became the first carrier to accept the cryptocurrency.

Since then, others have followed suit such as Polish Airlines LOT. Moreover, it is possible to use the Universal Air Travel Plan to book flights with over 260 carriers (and Amtrak) using Bitcoin.

And of course, booking flights for Bitcoin using third-party sites like Expedia, BTCtrip and CheapAir, is always an option as well.

But paying for tickets in Bitcoin may just be the beginning. Back in December 2016, Accenture proposed that Bitcoin’s Blockchain technology could be a “perfect match” for the aviation industry.

Would you opt for an airline company that allows to pay directly with Bitcoin? Let us know in the comments below!

Images courtesy of Shutterstock, AirBaltic, Plane

Why Online Casinos Are Increasingly Banking on Bitcoin

The rise in cryptocurrency is foretelling the future for online gambling. More and more internet-based casinos are accepting Bitcoin as a banking method.

[Note: This is a guest article written by Anna Taylor] 

The Growth of Bitcoin Online Casinos

Bitcoin rose to prominence most spectacularly over the course of 2016, and this digital currency is continuing to augment its profile. It has recently started gaining more widespread acceptance as far as payment is concerned, and, although the market remains volatile, it is very quickly becoming acceptable to trade Bitcoins for online services and goods, including real money games of chance at online casinos worldwide.

The online casino industry is traditionally very quick to embrace new technology, and has not disappointed in terms of Bitcoin, either. Many online places to play now accept Bitcoin as a deposit and withdrawal option, and it is continuing to gain a foothold in this market as the more modern way to pay.

An Overview of the Bitcoin Online Casino Industry

Bitcoin holds a number of properties that render it a particularly appealing currency for individuals who enjoy gambling at online casinos:

When transactions are made in Bitcoin, there is no requirement for the gambler to part with his or her sensitive financial information at all, and this element of online play remains a concern in today’s increasingly technological world. Without the relevant key with which to unlock the transaction, trades in bitcoin are totally secure, documented in the distributed ledger and then reflected within the eWallets of both the sender and the receiver. Bitcoin is still not very widely accepted, and can only be spent at online vendors, or converted to a local-base currency for withdrawal. This makes it an excellent option for gambling, since when loading this currency it becomes

24 Million Australians can now pay their bills with Bitcoin

As Bitcoin grows in popularity, more use cases for the cryptocurrency pop up every day. This time, an Australia-based startup has created a service that allows citizens in the country to pay their household bills with Bitcoin.

Paying Bills with Bitcoin

Dubbed the Living Room of Satoshi, the Australian startup allows users to pay their bills with Bitcoin by entering the details of the payment, choosing a payment system (bank account or BPay) and sending their coins to the BTC address shown.

Yesterday Living Room of Satoshi tweeted:

We’ve processed over $5 million worth of real world bills, paid in Bitcoin at Living Room of Satoshi https://t.co/LdcNR63BB5

— LivingRoomOfSatoshi (@roomofsatoshi) May 8, 2017

The Living Room of Satoshi’s new service supports payment for any type of utilities like telecommunications, electricity, gas, school fees, water and credit cards. What’s more is that the company charges no extra fees for the BTC payments. The service also features a point system, where every $1 spent in bills awards users with 1 point that can be turned into gifts.

Daniel Alexiuc, CEO of the  Living Room of Satoshi said in an interview:

As the first truly international, decentralised and peer to peer currency, Bitcoin is perfectly suited to bill payments in Australia,” he said. “It also enables new possibilities, like parents in foreign countries being able to easily support their children studying in Australia by paying some of their bills.

Bitcoin in Australia

Australia is generally thought of as a Bitcoin-friendly place. However, the country does have a double-tax issue where the cryptocurrency is considered barter and not money, which means that companies must pay both a tax when receiving cryptocurrencies as a payment and a goods-and-services tax (GST) when selling them for fiat.

However, the Australian government announced plans to solve

Las Vegas Strip Club Issues Own Cryptocurrency Token

The Legends Room, a new strip club in Las Vegas, is reinventing the strip club experience by issuing its own cryptocurrency token, The Legends cryptocurrency (LGD).

“Dance dollars have now gone digital”

Dollar bills have since long been an iconic part of strip clubs. From “making it rain” to the simple dollar bill kindly tucked within an undergarment, paper money has long ruled the striptease scene. However, one strip club is willing to replace tradition with innovation and the result is enticing, to say the least.

The Legends Room (NSFW), a new strip club in Las Vegas has issued its own cryptocurrency tokens in the Ethereum blockchain, dubbed The Legends cryptocurrency (LGD). These crypto tokens are distributed through an ongoing crowdfunding campaign and can be exchanged for drinks and dances within the club.

The Legends cryptocurrency is meant to be used as a payment system within the club and not only does this LGD token carry the usual benefits of a cryptocurrency like enhanced privacy and lower transaction fees, it also offers customers a 20% discount on all club services except gaming.

The Legends Cryptocurrency

The LGD token can be acquired through the Legends Room ongoing crowdfunding campaign that is currently taking place on Bittrex. There is a total of 30M LGD tokens to be exchanged for Bitcoin on the Bittrex exchange and each token is worth roughly $1.

Users can buy as many tokens as they want, however, buying 5000 tokens will grant the buyers a lifetime membership within the club. Members receive a 50% discount on all club services except gaming, an offer that is valid for life and that includes the member and a guest.

Much like the token itself, memberships can be freely transferred by transferring the 5000 tokens, so it is possible to rent,

How One London Startup Plans to Conquer the Bitcoin ATM Industry

Bitcoinist spoke with Landry Ntahe, head of operations at BCB ATM, a London-based Bitcoin ATM startup that currently holds the number two position by market share in the UK. 

UK Bitcoin ATM Scene

Today, BCB ATM has 16% of the Bitcoin ATM market share in the UK with seven locations in London where their Lamassu machines can be found. With an aggressive strategy of expansion to other UK cities and beyond, it’s planning to take over this nascent industry by undercutting their competition, offering customers much lower fees when buying bitcoin.

While the number of Bitcoin ATMs has already broken the 1,000 mark, the scene in London is thriving in particular, with new machines being added every month. Besides simply buying bitcoin, BCB ATM is aiming to provide additional services through their machines such as sending money abroad, topping up mobile accounts and more, which should help bring Bitcoin closer to mainstream adoption.

Bitcoinist: What has been your biggest challenge in running a BTM business?

Landry Ntahe (LN): Lack of awareness of Bitcoin in the elder generation, which makes them reluctant to place a BTM in their establishment. More needs to be done to educate others about cryptocurrency and blockchain technology. That’s why we’re here to bring online currency to the high street. 

Bitcoinist: What competitive advantage are you relying on to become the number one BTM company?

LN: We are always working hard to find new ways of bringing our services to the masses. Our next plan is altcoin adoption across our ATM network.

Bitcoinist: How big is your team?

LN: We have a core team of 5 from different working backgrounds including a young apprentice as well as agents throughout the UK.

Bitcoinist: Have you considered producing your own machines?

LN: We leave the hardware to the manufacturers,