Kuper Sotheby’s International Realty is a Texas-based real estate firm that just made its first sale of a property using Bitcoin.
Bitcoin is gaining a massive amount of media coverage the past few years and has become the world’s most popular digital currency. For starters, it was just buying everyday items. This later expanded to purchasing flight tickets and online games and now you can buy luxurious items such as yachts, a suite, and a custom-built home.
While the price of the home hasn’t been revealed, the buyer focused more on the ease of the transaction. He simply transferred the coins to the seller’s wallet, who converted them to U.S. dollars.
“In all of my 33 years of closing transactions, I honestly couldn’t have expected something so unique to go so smoothly,” said Kuper Sotheby’s Sheryl Lowe, the buyer’s agent, in a press release. “In a matter of 10 minutes, the bitcoin was changed to U.S. dollars and the deal was done!”
This shuts the comments made about bitcoin being “a fraud.” Moreover, it shows that more and more people are now beginning to accept cryptocurrencies and applying them in their day-to-day life.
News Credits: futurism.com
Image Credits: OWLbtc.com
Tags: bitcoin in Texas, bitcoin Texas, bitcoin news
According to Fintech Finance reports, Smart Package, which is an application of US trade giant Walmart, has been released by the US Patent and Trademark Office (USPTO) on 1st March. Smart Package patents employ a tool, based on blockchain to track down the location, environmental conditions, package contents, and other details. The main purpose of such blockchain applications is to be used in the latest technologies like unmanned drones etc.
Such blockchain applications help in recording the main addresses like; seller private key address, a buyer private key address and a courier private key address. According to this application, the current tracking instruments don’t offer such coveted functionality yet. Fintech Finance also reported that Smart Package application was first filed by Walmart in August 2017. This application isn’t the first one, in which Walmart has utilized Blockchain technology because, Walmart merged with IBM, back in 2016.
UPS, which is a US shipping company joined BiTA in November 2017 because, blockchain technology is quite popular among delivery and shipping companies. Publication of a non-conditional patent application occurred almost 18 months before its initial precedence date in the US. Once it’s published, USPTO can use a patent application to reject the third-party patent applications for the correlated technology.
Online pharmacies are the pharmacies that allow purchasing of the medications hard to find at physical drug stores. Due to increase in the demand for prescription drugs, numerous online pharmacies have popped up on the chart. These pharmacies mainly deal only with fiat. However, with the ever-growing popularity of cryptocurrencies, the trend is starting to shift as online pharmacies have already started accepting Bitcoin payments in exchange for their services. In addition, some online pharmacies offer special discounts to those who opt for Bitcoin as a payment option due to simple Bitcoin exchange rates.
Bitcoin Online Pharmacies – Bitcoin As A Payment Option:
Over the last couple of years, there has been an alarming rise in drug prices. The same medications cost $11 are now being sold for over $35. Yes, more than 200% higher!!!
This astonishing price increase is really a worrying issue. However, there is one solution: Bitcoin. A lot of online pharmacies are allowing their customers to pay in Bitcoin for convenient purchases. Also, some financial analysts have shown their support for Bitcoin pharmacy trend and declared it a good investment option.
Those who have put some of their resources into Bitcoin for the sake of increasing income in near future; they indeed have made a good deal.
At this point, one might ask: “Why using Bitcoin as a payment option is a good deal?” Well, Bitcoin is a safe mode of doing business. It is not tied to your bank account, provides user anonymity, and takes the security to another level to complete online purchases.
How To Use Bitcoin As A Payment?
The majority of online pharmacies accepting Bitcoin offer special discounts to their customers who use Bitcoin to pay the bills. Anyone who wishes to pay in Bitcoin must own a virtual wallet and have access to a Bitcoin buying platform.
The online pharmacies have established a guideline for their crypto users. According to the guideline, a user must not engage in buying or selling Bitcoin until they receive an email, confirming the number of bitcoins required to complete the order.
This helps the customers avoid any security-related issues.
What Are The Best Places To Buy Prescription Drugs Online With Bitcoin?
Once you have made up your mind to buy prescription drugs online with Bitcoin, do a simple Google search. The results will contain many names that incorporate Bitcoin payments.
Some names that you might want to bookmark are:
With the latest advancements in cryptocurrency technology, bitcoin health stores have become an essential part of the payment system. As a result, several online pharmacies are now offering their services for Bitcoin. To encourage the usage of this currency, the pharmacies are also offering special discounts to those buying their products with Bitcoin, thus lowering the cost of prescription medicines.
Emil Oldenburg, co-founder of Bitcoin.com, has sold his bitcoin and switched to Bitcoin Cash since he is distrustful about its future, as indicated by Breakit, a Swedish website.
Oldenburg said bitcoin is currently the riskiest investment someone can make.
He said bitcoin’s transaction times, fees, and lead times have undermined bitcoin’s value as an investment.
Bitcoin transaction fees have multiplied at regular intervals, and it now takes around 4.5 hours to affirm a transaction. Charges went up to $26 per exchange as of late, according to Ars Technica.
Bitcoin.com has millions of unique visitors each month, as per Similarweb.
Oldenburg said Bitcoin.com’s revenue numbers are expansive, however, he didn’t want to uncover subtle elements. His own particular salary and those of 60 associates in Tokyo have been in bitcoin.
At Stake Liquidity:
Bitcoin’s liquidity is at stake, he said.
Individuals have not perceived bitcoin’s inherent risks since most have just bought it and have not attempted to sell it or make trades with it. When they understand the risks, they will begin selling it.
The bitcoin organize is unusable, he said. The issues happen when exchanges are recorded on the blockchain. There is a predetermined number of exchanges a man can make for each second that depends on the block size that stores the exchanges. This restriction has made bitcoin an illiquid and unusable digital currency.
While these issues could be addressed, Oldenburg does not figure they will be because the system is controlled by what he calls “fanatical bitcoin Talibans.”
The authorities running the bitcoin network see bitcoin as computerized gold and a specialized experiment instead of something individuals use.
Bitcoin.com has quit creating services for bitcoin to concentrate on Bitcoin Cash, which split from bitcoin in August and has turned into the second biggest digital currency.
For whatever period of time that the bitcoin network is controlled by the current directors, bitcoin won’t be a money for regular use. Rather, Oldenburg sees the future in Bitcoin Cash.
Bitcoin Cash Has The Support Of Others:
Craig Wright, an Australian businessperson who once claimed to be Satoshi Nakamoto, recently tweeted that 2018 will be the year in which Bitcoin Cash reaches to its full potential, as its limitations will be evacuated and its security will be improved.
Wright called attention to that among what’s coming for the digital currency in 2018 are “secure limit frameworks to make even web wallets secure,” enhanced mixers, and transactions with improved privacy. When asked who’s dealing with these upgrades, and when a public roadmap would be available, Wright answered, “A few. More open soon.”
Roger Ver and Calvin Ayre, two bitcoin cash proponents, have also announced to use their influence to rebrand bitcoin cash as bitcoin.
So, the year 2018 seems to be full of interesting prospects for bitcoin cash. But, will all these predictions regarding BCH come true. We will have to wait and see.
Every business needs an identity. A secure platform for business transactions. Accordingly, It needs a complete registration. Following are few steps of registration:
You have to complete the pre-registration form. Where you need to submit your business information, either it is a corporation, sole proprietor, or partnership based business.
While, after the completion of pre-registration form, the company will contact you within 5 days with ID and password.
You need to sign in MSB registration system with ID and password provided by the company. (MSB registration is a system where business is described by the owner that transmits or converts money).
MSB registration includes 4 sections: home page, navigation through MSG registration form, submitting your form to FINtrac and you will receive notification messages, definition, etc.
After the submission of the MSB form, you need to complete other information:
Your bank account information
Complete information about compliance officer
You employees number
Information of senior management of MSB
Complete information about your branch and Canadian MSB agent.
Total expected expense including the fees
Meanwhile, Company will take 14 days for the verification. If the company rejects your form, there is nothing more for you. On the other hand, if you get the approval, you will proceed to the next step which involves:
Your approval notice and registration number
Clarification request (if you didn’t respond this section on time, you may assess penalties). The clarification request includes (sign in with MSB then, follow the instruction about response to clarification strength then, review the information and at the end, check your details, once you submitted your form, you will have done with your work)
Following are some Criminal Penalties:
In case of a suspicious transactions, the penalty is up to $2 million and/or 5 years imprisonment.
In case of a large cash transaction or an electronic funds transfer, the penalty is up to $500,000 for the first offense and $1 million for subsequent offenses.
If you fail to meet with record requirements the penalty can go up to $500,000 and/or 5 years of imprisonment.
During the examination of the compliance, if you fail to provide information, the penalty will be up to $500,000 and/or 5 years imprisonment.
Disclosing the facts or suspicious transactions: the penalty is up to 2 years of imprisonment.
What is The Penalty In Case of Violation?
At minor violations, the penalty starts from $1 dollar to $1000, depending on the violation nature.
At serious violation, the penalty goes from $1 to $100,000,
The extremely serious violations may see your penalty going from $1 to $100,000
Third, These penalties are applied according to the Canadian act “Proceeds of Crime and Terrorist Financing Act”.
→ A company with the negative background will be not registered with MSB.
What Are The Documents Required for The Registration:
When you are going to register your business with FINtrac, the following are the documents required at the time of registration.
You may also need to provide other documents on demand.
How to Contact FINtrac?
If you want to know more details about your registration, you have an option to visit the site. In addition, you can directly contact the Financial Transactions and Reports Analysis Center of the Canada. The address is: