EU to Tighten Cash & Gold Controls, Surge in Bitcoin Demand Will Follow

EU to Tighten Cash & Gold Controls, Surge in Bitcoin Demand Will Follow

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On Dec. 21, the European Commission tightened controls on the inflow of cash and precious metals from outside of the EU. Describing its decision as a move to crackdown on terrorist financing, the Commission granted permission to border patrols to seize cash or gold brought in by suspects. Customs officials in EU states, as well as border controls, can seize and restrict the inflow of cash and precious metals without particular guidelines as to whom is suspected of terrorist financing or funding of militant attacks. Such ambiguity in the new proposals could potentially lead to the false confiscation of funds carried in by civilians coming into the EU. Individuals holding over $10,400 in cash must declare at EU state customs before entering a member state. If they fail to do so, individuals could be scrutinized by the newly proposed regulations. The EU executive Commission also stated in a note obtained by Reuters that authorities will be able to seize money below $10,400 upon their independent investigations and considerations. Potential regulations on other money transmission methods To date, cash and precious metals are the only two stores of value that the European Commission plans on regulating. The inflow of cash and …

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 …

Apple Watch Turns Gold with Bitcoin

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Honey Dipped Plating has announced its accepting bitcoin for its gold plating service for Apple Watches and bands as of November 3. The gold plating service makes it possible for the average consumer to obtain a regular apple watch that looks almost identical to the gold version of the Apple watch for only a fraction of the retail price. Brian Yang, CEO Honeydipped.com commented:  “Bitcoin, which utilizes blockchain technology goes hand in hand to our alternative and disruptive thinking here at honeydipped.com.” The company provides gold plating services for the stainless steel Apple Watch and Band in gold or rose gold. In fact, the quality of the 24-karat upgrade is as good as the real thing that even Apple staff couldn’t find visual difference between the Honeydipped.com plated version and the US$17,000 Apple Watch Edition. The gold plating service costs US$299 while already plated watches are also available. The gold plating method used completely immerses the Apple Watch in a safe solution for a thick uniform coating that is highly resistant to fading. Moreover, the company provides 2-year warranty for all orders. BitPay has been selected as the payment processor for bitcoin transactions. In other words, Honey Dipped Plating will be able to avoid BTC …