Etsy’s Payment Problems Are OpenBazaar’s Opportunity
Since July 1, Etsy Inc has had a major payment processing problem. But while the problem is still unresolved, the 24/7 Bitcoin payment network can certainly fill the void. Etsy’s 3rd Party Payments Processing Problem. Many of its orders made using credit cards and gift cards are stuck in processing. Etsy is using the London-based company, Worldpay Group....
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As cryptocurrencies have expanded as a medium of exchange, governments worldwide have struggled with how best to regulate them. While one of the draws of cryptocurrencies is that they are less regulated than traditional currencies, problems associated with these currencies (such as financial crimes and terrorist financing) have encouraged governments to develop regulations. A recent report by the SWIFT Institute summarizes regulatory initiatives to date and identifies some of the problems that governments encounter in attempting to regulate cryptocurrencies. The 77-page paper, titled "The....
Unlike the central banks’ quantitative easing policy, the reduction of new funds being pumped into the Bitcoin ecosystem is stabilizing the price. It is not the first time some experts are pointing towards Bitcoin as an asset to keep an eye on whenever financial trouble seems to be looming on the horizon. Cryptocurrency is a once-in-a-lifetime investment opportunity, due its scarcity and global availability. Even though some people may argue it is too late to invest in Bitcoin or other currencies, that is far from the case. Moreover, the policies employed by banks to solve the economic....
EgoPay, a Bitcoin payment processor, has ceased all trading, with unconfirmed reports that founders of the company have stolen millions from customers. Merchants began to report problems in Late December when they started to have problems with the company's API, which was returning faulty transaction notifications. When early January hit, users reported funds were frozen in their accounts with a typical response from EgoPay:
Centralized payment firms like Visa, Mastercard and PayPal have an opportunity to offer innovative stablecoin payment networks, the research firm said.
Digital currency promises to solve some problems of the "real money" world, among them the difficulty of making quick, secure global payments without having to pay a middleman steep fees to exchange one currency for another. While bitcoins have proven they can do the trick, the currency comes with its own problems. Bitcoin can take 10 minutes or more to verify a payment (or transaction of any kind) ... and that's if you can find a retailer that actually accepts bitcoins. That's where OpenCoin hopes to step in with a more convenient alternative. Launched by two veterans of the online....