The Five Most Confusing Things About Bitcoin That Hold Back Its Adoption

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Bitcoin has been around now for eight years and is maturing with a sizeable market capitalization, with more than 25 mln wallets in circulation. Adoption has benefited from post-Brexit activities, the U.S. elections and in the past week has been further boosted by events in China with currency exit and with India’s new currency reforms. Things are hotting up for Bitcoin. But is terminology holding it back? Misleading language The language used by the Bitcoin and Blockchain communities is misleading and conjures up all kinds of thoughts and images in people’s mind, often creating the wrong impression. One of the big challenges for any new technology, apart from it being mocked by the incumbents, is that people try to compare it to what they know, their reference point. The obvious is fiat currencies – the current banking system and the process of how bank accounts work. So here are the five most confusing things about Bitcoin and the answers that decode this technology and clear up the misconceptions to make it clear for all Bitcoin enthusiasts. 1. Gold coins is what it looks like Many mistakenly believe Bitcoin is a physical currency, Gold Coins with a letter B and two vertical …

Europeans Can Now Receive Their Paycheck in Bitcoin

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Europe-based bitcoinCT r:  3 services provider Cashila has recently released a Bitwage-like Euro-to-Bitcoin payroll system, allowing European employees to request their wages to be paid in bitcoin through a simple bank or SEPA payment. The payment process of the sender or the employer will stay the exactly the same. On the Cashila platform, the receiver will create a payroll request with the inclusion of necessary bank details, including specific reference number, IBAN Bank account number, payment amount, etc. Once completed, employees and freelancers can export the invoice as a PDF or send it via email to their employers and wait for the payment to be processed by the bank and Cashila. The users of the platform may also receive bitcoin through a European bank account, by transferring bitcoins to the platform’s Euro Wallet, then immediately converting to Euros. Through this service called “Reserve Cashila Feature,” the Cashilla team aims to help spur mainstream bitcoin growth in Europe, and protect freelancers and employees from bitcoin price volatility. Cashila co-founder Jani Valjavec stated: “This is a faster and cheaper version of banking as we know it. Your version.” Upon its launch, the service received criticism from the bitcoin community due to its inefficient payment …

Bitcoin Implants? Man Sends World’s First ‘Bio-Payment’

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If you’ve seen movies like Idiocracy, even at the future’s lowest level of technological advancement, people will be scanning body parts to get through life. It may be 25, 100, or 500 years from now, but those days are in our future. For some people, the future is now, as the world’s first verified bio-payment using Bitcoin has been performed through a microchip implant into a man’s hand. Meet Patric Lanhed With the help of fellow computer software developer Juanjo Tara, Lanhed has started the age ofBitcoin bio-payments. The video below shows Lanhed being the human guinea pig for the first verified Blockchain entry, literally by hand, using an NFC (Near Field Communication) scanner. They used a microchip developed by Dangerous Things, which stores 888 bytes of data, enough to hold up to 26 Bitcoin private keys. The two developed the software that takes the NFC scan and transmits it to their online bitcoin wallet portal, providing a quick confirmation. “We are here to try to expand the frontiers of bio-functionality,” Tara reports to Vice’s Motherboard. “We started with bitcoins as a tribute of the revolution on the internet, and we believe in have the ownership of our data. Ultimately …