Overstock.com Accepting Crypto Currencies

 

Overstock.com Accepting Crypto Currencies

In the current scenario where every market is facing stiff competition and companies are trying to guage new ways of exploring the market. The e-commerce giant Overstock.com has experienced stock shares soar as company encouraged acceptance of bitcoin and blockchain. Record hit four-year highs on mounting excitement around the company’s innovative venture into blockchain the technology behind bitcoin & Crypto Currencies. They recently company management has shown interest in building blockchain payment networks & accepting bitcoin.According to the company’s CEO, Patrick Byrne initiated a whole new unit for utilization of blockchain within Overstock. In the last three years company has developed this new division which is called Medici Ventures. At this point company has emerged as a front-runner in applying blockchain technology to trading stocks and digital tokens.

More Options of Crypto Currencies

Now company is expanding its horizons. Overstock announced a partnership with Shapeshift to streamline the process. With this strategic tieup Now Overstock customers will be able to do transaction via Shapeshift’s native API using Bitcoin Cash, Monero, Litecoin, Ethereum, and more. Now company became the first major retailer to accept bitcoin cash and altcoins at the point of sale for payment.This year bitcoin has “shot up six times in value. Interestingly monitoring overstock’s share price has mimicked the short term volatility of bitcoin. The Same manner as a crypto market is volatile Overstock’s shares swing with a volatility resembling the speculation often seen in digital currencies like bitcoin. A high 14 percent of shares available for trading.

Russian Business Association Urged For Local Cryptocurrencies

    Russian Business Association Urged For Local Cryptocurrencies

Considering the other site of society. Russian Business association communicated Government to Approve Only Domestic Crypto currencies. Recently one of Russia’s leading public business associations  has sent a proposal to the government asking them to approve only domestic cryptocurrencies in their upcoming cryptocurrencies legislation. The State Duma and the Federation council on Monday to officially permit only the circulation of domestic cryptocurrencies in Russia. The main aim of the proposal was to remove social evils. Looking at the crime activities in Russia definitely local crypto currency is very safe option.

Social Concerns

Association Avanti is one of Russia’s leading public registered society for entrepreneurs and businessmen. The association outlined many risks it associates with crypto currencies. “The issuance and circulation of foreign crypto currencies in the territory of the Russian Federation can lead to irreversible negative consequences. May be in the field of economic development of our state and its political stability. In Support by members of the Russian parliament, the association works with entrepreneurs, officials and regions to promote the idea of business patriotism. Foreign Cryptocurrencies are dangerous as too can stimulate new forms of universal evil  such as terrorism, human trafficking, and drug trafficking. Furthermore decentralized control over the issuance of money, brings unpredictability.

Venezuelan ‘Gold Farmers’ Are selling Runescape Items for Bitcoin

Venezuelan ‘Gold Farmers’ Are selling Runescape Items for Bitcoin

What do you think about Venezuelans playing the game Runescape to sell in-game gold for bitcoin? As per numerous reports, Venezuela country is facing challenges related to economy. Citizens or Gold farmers are now playing & deeply involved in massive multiplayer online role-playing games to earn & collect in-game items. Now With the aim that they may sell them for bitcoin & Venezuelan ‘Gold Farmers’ Are Selling Runescape Items for Bitcoin.

Bitcoin is new attraction for Gold Farmers 

This business model initiated trending in China where players or participants hold in-game currencies  and later player can sell them for “real money”. In 2009 it was expected that over 1 million gold farmers were based in China, but in-game gold farming also happens all around the world. As scarcity is there, it is difficult to get an exact figure on how much money or revenue gold farming brings in, but it was estimated to be about USD $300 million in 2008. Venezuelan citizen or gold farmers are playing the game Runescape are targeting to kill as many green dragons as they can accumulate 500,000 in-game gold which is of value to $0.50 worth of real currency when sold. Almost every farming players are making roughly $0.50 per hour on Runescape which is considered a better amount than most in the country. Venezuelans can earn up to $2-3 per hour if they are extremely good in-game.Higher skill sets can make them earn decent money in game. Provided they don’t get banned by the moderators. Runescape in-game gold is being sold for bitcoin in Venezuela. Recent headlines explain that in-game gold farmers are selling treasures for bitcoin & also for living. Gold Farming is controversial and profitable operation since online gaming became extremely popular among public. A Guide to Getting Rid of Venezuelan Gold Farmers or players is being planned by govenment, Where as Papusgold Offers Netflix Credits and Bitcoin for Runescape Gold Gold Farming on a MMORPG is against the rules in Runescape and many other online role-playing games. End of the day we may conclude that Runescape Gold Farmers Make huge earnings Than Venezuelan Professionals With Degrees.

33 cryptocurrency cases found at NIPPON (Japan) – Rise in cases.

   According to the latest reports from National Policy Agency (NPA) reported roughly ¥76.5 million ($710,848) in fraud-related thefts between January and July. As per statement by Nikkei and The Yomiuri Shimbun. Here we can assume at very core the pace of those complaints appears to have picked up as the year progressed. Corresponding to the rising cryptocurrency market – with ¥17.3 million reported stolen in July alone. Japanese consumers reported 33 cases of cryptocurrency-related fraud in the first seven months of current year.  Representing more than half a million dollars-worth of losses . It is not really easy to digest.

Plan of Action

It is real shocking  & it is an unexpected rise in cases. According to another Japanese paper media – The Mainichi, the police agency said the stolen funds may have already been converted to other forms of money, including cash. The NPA did not reveal the process followed by thieves of cryptocurrency. Actually thieves bypassed two-factor authentication to transfer the funds.

Till date any of the funds identified have been recovered. Situation seems not so easy. Matter is complicated. The article notes that while many of the accounts victims did not have two-factor authentication implemented, at least three accounts did. Two-factor authentication provides an extra strong layer of security to digital accounts, and requires a digital token system to be able to log into an account. Now loss by virtual currency up to June 2017 were the most for Ripple at 29.6 million yen to be followed by Bitcoin at nearly 29.3 million yen.

Loss in other currencies Ethereum and NEM amounted to 200,000 yen and 100,000 yen, respectively, among others. “The cases involved cryptocurrencies like bitcoin, Ether and Ripple’s XRP”, the reports said, with the majority of the year’s reports thus far relating to thefts of Bitcoin. So concerns are very important.