Russia’s president Vladimir Putin has reportedly ordered the issue of the national cryptocurrency, the “cryptoruble.” The Russian Minister of Communications and Mass Media has revealed some details of this new currency.
Also read: Putin Confirms Russia Will Regulate Cryptocurrencies
Putin’s Executive Order
I’m trying to understand the topic of blockchain and bitcoins as well. So, the only one question I want to get answer for: how do exchanges commit orders? I mean, how the transaction could be started by exchange? As I understand, only the owner of wallet (with the pair of pub/private key) can start transaction for transferring some amount of btc. So, I can’t find the information about “remote control” of wallet. Maybe I am wrong, please correct me. And excuse me for my English. It’s not my native language.
Recent Questions – Bitcoin Stack Exchange
The second most powerful figure in the Russian Federation endorses blockchain tech.
The post Russian PM Orders Study of Blockchain Technology for Public Administration appeared first on CryptoCoinsNews.
News – CryptoCoinsNews
SHANGHAI–China's central bank warned domestic bitcoin exchanges that they risk being shut down in the virtual currency's largest market if found to …
Google Alert – bitcoin
I will purchase about $ 2 million in the next 12 months from Alibaba suppliers (mostly in China). I have been having a very difficult time sending payments in a timely and efficient manner using Alibaba's escrow service.
About 30% of my payments are held up and eventually don't make it to the suppliers. I will then have to resend and hope it goes through. Or just pay an extra 2.8% and use my credit card. Using my credit card takes 2 or 3 business days regardless.
100% of my suppliers are willing to use bitcoin. But I do not know how to set up an escrow service. Our average order is about $ 60,000. We make about 3 of these types of orders per month. So I need the protection.
Alibaba charges $ 15 for ACH transfers. I can wire the money for just the wire fee (which, for me, is zero). Or I can pay with credit card (for 2.8%). These 3 methods all qualify for Alibaba's escrow. But, as I wrote, the payments are often returned and this is really screwing up our orders and their delivery times.
Is the only option to find an escrow service on Open Bazaar? Open Bazaar is so new that I am reluctant to push $ 180,000 or so per month through a handful of random Internet guys on Open Bazaar.
I just bankrupted a small supplier in China because they ordered the components for one our $ 125,000 order. The money has been held up for over 20 days now. They are very small and were unable to handle the cash flow situation they got themselves in by assuming the money would arrive in their account. I feel very bad for them.
Anyhow, does anyone have any ideas? Thanks.
submitted by /u/dan_from_san_diego