Visa & Mastercard plan to increase transaction fees for US merchants who accept card payments. The hikes go into effect in April 2019 and are likely to further damage the already fragile relationship between payment providers and merchants.

Visa & Mastercard plan to increase transaction fees for US merchants who accept card payments. The hikes go into effect in April 2019 and are likely to further damage the already fragile relationship between payment providers and merchants. submitted by /u/CryptoChanneI
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Bitcoin – The Currency of the Internet

Bitcoin is currently back at transaction levels of last year. After the dip of TXs alongside the price, it has been a steady increase throughout 2018. Value is exchanging hands. While price is consolidating, activity is growing fast. This is divergence.

Bitcoin is currently back at transaction levels of last year. After the dip of TXs alongside the price, it has been a steady increase throughout 2018. Value is exchanging hands. While price is consolidating, activity is growing fast. This is divergence. submitted by /u/Smilinmong
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Bitcoin – The Currency of the Internet

Demand for Bitcoin will Increase in a Global Recession

Bitcoin is fueled by gamblers and drug businesses. Gambling and drugs in general are $ 500B+ and $ 300B+ annual revenue markets.

When people lose their jobs, the demand for escaping reality with get-rich-quick fantasies will increase.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3501160/

The author finds that lottery sales are sensitive to the state unemployment rate, increasing by about 0.17% for each 1% increase in that rate.The only gambling sector that appears to be recession proof is lottery consumption. This series is characterized by a vast and solid growth that appears to be independent of the business cycle and of temporary shocks to income.

Casino expenditures appear to have significant positive growth during both expansion and recession.

When people lose their jobs, more people will turn to using and dealing drugs.

https://www.sciencedirect.com/science/article/pii/S0955395917300877

We synthesized 28 studies published between 1990 and 2015. Most evidence (17 studies) was found for the counter-cyclical mechanism that recessions and unemployment increase psychological distress, which increases drug use. Mainly supportive evidence for this mechanism was found in several high quality studies, in different contexts, and in a diverse number of countries and samples. In contrast, decreased income did not seem to decrease drug use (10 studies).

https://www.theguardian.com/global/2009/dec/13/drug-money-banks-saved-un-cfief-claims

Drugs money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations' drugs and crime tsar has told the Observer.

Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were "the only liquid investment capital" available to some banks on the brink of collapse last year.

He said that a majority of the $ 352bn (£216bn) of drugs profits was absorbed into the economic system as a result.

According to the United Nations World Drug Report, adoption of Bitcoin for buying drugs has grown every year.

https://www.unodc.org/wdr2018/

Proportion of surveyed Global drug users who purchased drugs via the darknet:

2014: 4.7%

2015: 5.9%

2016: 7.6%

2017: 7.9%

2018: 9.3%

This March 2018 Bromium research report corroborates the growing adoption of crypto:

https://www.bromium.com/press-release/up-to-200-billion-in-illegal-cybercrime-profits-is-laundered-each-year-comprehensive-research-study-reveals/

According to the report, cybercriminal proceeds make up an estimated 8-10 percent of total illegal profits laundered globally; amounting to an estimated $ 80-$ 200 billion each year.

Virtual currencies have become the primary tool used by cybercriminals for money laundering

This Elliptic research report states that more than 50% of DNM users are still sending BTC directly to the markets without mixing:

https://info.elliptic.co/whitepaper-fdd-bitcoin-laundering

From the perspective of businesses that are worried about seizures, Bitcoin is a lower-risk asset than cash or gold (if the BTC is stored properly).

submitted by /u/Reggie_Pharr
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Bitcoin – The Currency of the Internet

Venezuelan update: One BTC is around 1,524,000 BsS. (Bolivares, more than 100% increase in around 1 month), monthly minimum wage is around 8 USD -0.0013 BTC- and inflation keeps going on (even in USD). 915 BTC were traded last week using Localbitcoin data.

Hello,

You can check the "Coffee with milk index made by Bloomberg" https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

Government "set" the prices of some goods and what happens is that they set the price is under the production cost. But now people just don't care, price is set at 90 BsS. per kilo (which is around 45 usd cents) none wants to sell at that price, people is selling it at around 700 Bs. (3 USD) and nothing happens.

Government ordered all the banks to show your balance in petro cryptocurrency as well (Government cryptocurrency), if you have 3600 BsS. (15 USD) in your account it will show 1 Petro. Even BBVA and Citibank had to do this.

You can check the 24h volume here http://dolarbeta.com/ and the last week volumen using Coindance

AMA anything

submitted by /u/WorkingLime
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Bitcoin – The Currency of the Internet