The Short-Term View on Bitcoin Remittances
Luis Buenaventura is the head of product at Satoshi Citadel Industries, and "dreams of a world where everyone has access to everything". Satoshi Citadel Industries manages several different digital currency services and sites, including Bitmarket, in-beta exchange Coinage, photo-sharing site Bitstars.ph, and remittance service ReBit. SCI is also rolling out pre-loaded bitcoin cards as a way to get bitcoin into newcomers' wallets. Remittance is often cited as the one of the primary ways that bitcoin would change the global financial landscape, by virtue of the cryptocurrency's microscopic....
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Bitcoin is short-term bearish, traders say, as the options market hints at consolidation. A pseudonymous trader known as “Byzantine General” is short-term bearish as Bitcoin (BTC) continues to test the same $30,000 support area.Although the price of Bitcoin is staying above a key support level, the trader said the price action is not bullish. He wrote:“In the midst of all this chaos, here's a bitcoin chart. Not much to do. It's bearish no matter how you look at it. But we're sitting on support, so no swing short opportunity either... It's just waiting now. > YO needs to hold.”"Options....
Last Week we concluded with the following: We are on the very edge of turning fully bearish for the near futures. At the moment the short-term view is set up for a small bounce to the US$365 levels, but after that we will most likely see more downside. The intermediate term view is sitting right on the edge and we would need a break back to US$380 and above next week to change that. US$340 is the critical number to watch. “The smartest thing Satoshi ever did is to remain anonymous, and in this day and age, you can imagine how difficult that must have been.”
Luis Buenaventure, co-founder of one of the best known bitcoin remittance companies in the space, Rebit.ph, has published a blog post on Medium claiming that the cryptographic currency does little to help cheapen remittances. Bitcoin remittances, better known as "rebittances" (a term Buenaventure claims to have popularized), allow customers to send cash to friends or family abroad. Effectively, this means that only the rebittance service itself uses bitcoin, both the sending and receiving end of the transaction merely touch cash. Since it is cheaper to send bitcoin around the globe....
Tap Send, the creator of a remittances app of the same name, revealed it has raised $65 million in a Series B funding round. The fintech firm plans to use the funds to build a cheaper and faster cross-border money transfer platform. Remittances to Overlooked Countries The fintech startup behind the remittances app, Tap Send, recently said it has raised $65 million in a Series B funding round. According to the startup, the funds raised will be used to bolster remittances to the most overlooked countries in Africa and Asia. As stated in a Techcrunch report, Tap Send’s latest capital....
Bitcoin could be the most efficient means of moving fiat around the world. International Remittances. Before we delve into the promise of Domestic remittances, we must understand the hype behind International remittances. International remittances have been growing every year, and many consider it to be a "killer app" for Bitcoin. One noticeable example of a startup rising up to face this challenge is Buttercoin. About Buttercoin, Bloomberg's Businessweek had this to say: The company is working with licensed money transmitters in several countries to establish software systems in which....