#bitcoinuses

[virtualcurrencyspace]

Real World Uses For Bitcoin

“In many countries in Africa, there are far more cellphones than bank accounts,” said Manuel Valente, co-founder of La Maison. “For bitcoin, all you need is a phone.”

Zimbabwe, where the price of bitcoin spiked to double the international rate after this week’s military takeover, shows Jamie Dimon, Axel Weber and other cryptocurrency skeptics where the real-world use of bitcoin, and possibly its future, lies. It’s becoming the preferred way for residents of failing economies to transfer money without dealing with banks, protecting their savings from political turmoil, and avoiding the local currency when its value declines due to inflation.

There’s no data on how much digital money leaves industrialized nations for the developing world. Part of the allure of electronic cash is the ability to transfer it anonymously. But as events in Zimbabwe have confirmed, bitcoin, the world’s most popular cryptocurrency, is most attractive when confidence in institutions falls. https://www.bloomberg.com/news/articles/2017-11-17/bitcoin-emerges-as-crisis-currency-in-hotspots-such-as-zimbabwe

[virtualcurrencyspace]

Dust: Turning Spare Change to Bitcoins.

Here’s how Dust works: It connects to your bank account to see your transactions. Then it rounds up each transaction to the nearest dollar—basically, collecting spare change. Once about $10 of change has been accumulated, the amount is used to buy bitcoin, litecoin, or ethereum, in proportions set by the user. The app only reads your bank’s transaction data; it doesn’t have access to the fiat or crypto funds. The cryptocurrencies are acquired through Coinbase, one of the biggest firms in the business.

https://qz.com/1095292/dust-lets-you-buy-bitcoin-with-spare-change-with-monzo/

[virtualcurrencyspace]

Bitcoin Blockchain tracks Diamonds

Kemp, who has a background in both technology and jewellery, thinks the model could be adapted for items other than diamonds, from art to watches and even luxury cars. Finding a surefire way to confirm something’s provenance has far-reaching implications. “The question of authenticity is key because, for instance, counterfeit goods are funding terrorist activities,” Kemp tells WIRED. “We can apply this technology to solve very big problems: ivory poaching, blood diamonds, all these big ‘blood problems’ that are helping cartels, terrorists and criminals. http://www.wired.co.uk/article/future-of-the-blockchain