INVESTOR MICHAEL TERPIN ON BITCOIN CONSUMER ADOPTION: “THE CONSUMER MARKET IS RESPONDING”

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Well-known Bitcoin investor Michael Terpin believes Bitcoin is now at the point in its evolution where Bitcoin firms can reach out directly to the consumer, citing Purse.io as an example of success in this pursuit.  “I think now we are the moment in Bitcoin where enough of the infrastructure has been built up we can serve the consumer,” Terpin said. “In January 2014, I said at a conference that you could not have the Google of Bitcoin until you have the Yahoo, and you can’t have the Netscape until you have the Cisco. Cisco is the mining equipment and brick-and-mortar of the Bitcoin system.” In Terpin’s opinion, Bitcoin has evolved in numerous ways quickly, allowing for Bitcoin to start reaching out to the consumer. “Today we are dramatically further ahead in terms of quality of wallets and security and Two-Factor Authentication and multi-signature. This is all the stuff that didn’t exist or was very nascent when I first got into Bitcoin in the first part of 2013,” Terpin said. “We’re now at the point with companies like Purse.io and some other companies that are beginning to touch the consumer market and the consumer marketplace is responding and are having success.” …

E-Coin Launches Bitcoin Debit Card Affiliate Program

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E-coin specializes in bridging the gap between the traditional financial institutions and Bitcoin by allowing Bitcoin users to store Bitcoin safely with its multi-sig wallet service, as well as allowing users to load Bitcoin onto debit cards that can be used at any POS terminal that accepts VISA cards — in USD, EUR, and GBP.   “Inspired by blockchain decentralized technology, the company dedicates a great part of its efforts in growing the popularity and usability of cryptocurrency while trying to make transactions simple, safe, and hassle-free.” The E-coin debit cards work like their traditional counterparts; simply load funds into an account that can be managed on the web and the E-coin mobile app. To date, 1,800 Bitcoin debit cards have been shipped and are readily available to order and use. E-coin ships to 173 countries, and the cards can be used in any country. Since the E-coin debit card works like a VISA card, support for it has already been built in, with over 30 million ATMs and 25 million merchants accepting VISA worldwide. “For a currency to gain adoption it needs to circulate. Although already quite popular, bitcoin is still not very easy to get and spend for an average Joe. Our bitcoin debit …

Uber Driver Offers a Free Ride to BitNation Advocate

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There have been numerous news articles published on the concept of decentralized governance, with BitNation taking the lead and confronting existing government institutions by offering a decentralized way of handling such services. Some of these services include birth and marriage certificates, land ownership, and business certifications. Services that at times can cost a substantial amount of money and require a lengthy process that can be subject to heavy bureaucracy. With this in mind, you can imagine the impact services such as BitNation can have on individuals who want ways to overcome boundaries and free themselves from the limitations created by centralized authorities.   While this idea is not yet fully realized or demonstrated to the masses, it found its way into a conversation between a Uber driver and a passenger within London. Perhaps this is a way of demonstrating that people are listening and searching for better ways of handling day to day services, in support of decentralization and reduced regulations. Eric Grill, founder and CEO of the Bitcoin ATM company CoinOutlet Inc, was recently taking part in a Uber ride within the city of London. It is here that a great conversation started, revolving around regulations and the time it takes a …

Bitcoin Companies Are Compounding the Bitcoin Hoarding Problem

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Bitcoin hoarding has been dubbed as one of the “major problems” hampering the adoption growth of this disruptive digital currency. While there are over 14 million bitcoins in circulation at the time of publication, only a fraction of that amount is changing hands on a regular basis. As a result, there are a lot of coins not moving to different owners, leading to various addresses “hoarding” bitcoins. Also read: New Economy Movement Focuses on Equal Opportunities Consumers not Incentivized to Spend Bitcoin One of the more common reasons for the Bitcoin hoarding problems can be blamed on lack of incentives for consumers to spend Bitcoin. While merchants are reaping the benefits from paying lower transactions fees on Bitcoin transactions, the everyday consumer is still paying the same amount for goods and services, rather than receiving a discount. On top of that, the number of merchants accepting Bitcoin payments is still fairly low, despite that number increasing over time. Despite there being lower transactions fees for merchants, as well as the option to has Bitcoin transactions converted to fiat currency and receiving the money in their bank account the next business day, most people are still wary of Bitcoin. At this time, …

NanoCard Crypto-Debit Card Aims to be Bitcoin’s Killer App?

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One of the most coined phrases in the past two years is whether or not we will ever discover “Bitcoin’s killer app”.  Every major technological innovation has one “killer app” to gain mass adoption and mainstream adoption.  In the case of Bitcoin, the search for this “killer app” is far from over.  Yet there are some candidates wanting to claim that title right now. The Bitcoin NanoCard – Not Your Average Prepaid or Debit Card A little while ago, Danish cryptocurrency exchange CCEDK announced the Bitcoin NanoCard.  This project is made possible thanks to a strong partnership with other parties, including Bit-X, Cryptonomex, and BitShares.  But what makes this Bitcoin NanoCard different from traditional prepaid and debit cards? One thing that makes the Bitcoin NanoCard so interesting is how it bridges the gap between disruptive digital currency and existing financial infrastructure.  Giving consumers an option to spend their Bitcoin wherever major credit cards are accepted is beneficial to the consumer, which will help raise awareness of Bitcoin usage. However, the Bitcoin NanoCard does not need to be pre-funded before it can be used to spend Bitcoin.  As a result, consumers can convert their Bitcoin to fiat currency value at the time …