Guardian Liberty Voice has updated this article with corrected information indicating Coinbase is an international digital wallet.
Bitcoin, a crypto-currency, relies on stock holders and currency exchanges for expansion, one keeping the other from price falls that halt growth to the market. Without government sanctions or backing, the popular currency looks to offer their customers the convenience of freedom from banks and central authority. With digital currency on the rise worldwide, the largest digital denomination in the circulation is making moves to bring convenience and a sense of stability to their product.
Digital money also looks for ways to be more convenient, especially in regards to exchanges from physical money and vice-versa. A new bitcoin brokerage service named Ripio has spread throughout Argentina, opening 8,000 convenience store locations so far. CEO Sebastion Serrano explained that acquiring online money will be as simple as approaching one of these stations and giving over your Ripio number to a representative, exchanging pesos for online coin even without a bank account. He goes on to highlight their desire to “push adoption” across their available territories with this move and that interactive maps will be available for cell phones to show the closest Ripio convenience kiosk location.
BitAccess, the evolution of these convenience kiosks, is also expanding, but only in select areas as of now with the goal being worldwide distribution. Access is a new type of automated machine for digital coin distribution that requires, as Haseeb Awan, one of the four co-founders, says nothing more than “a phone number and a dollar.” The system operates with your phone, sending a text to you after a number is entered that allows access to a digital wallet.
From there, customers will be allowed to purchase bitcoins for their personal account or simply print out a receipt representing their crypto-currency amount depending on their preferences. Awan foresees this being the beginning of a long list of digital conveniences available at these kinds of ATM machines, naming other digital contracts on a global scale as an example.
The Bitcoin stock price, even with these expansions beyond the internet, has suffered recently thanks to a number of business pitfalls. Stocks were at an all time low in mid June of this year at 550 USD per unit and have fallen since then to 525 USD per unit.
This selling is related to big businesses that accept the digital currency (Dish Network, Dell, Overstock etc.) immediately exchanging payments for physical, government-backed currency. Efforts to automate trading have also lead to the utilization of specialized bots that react to these sell-offs by dumping further stock, driving the currency’s price further down.
As Bitcoin expands across the world and their stock price falls to historic lows on Wall Street, crypto-currency remains one that is open to everyone. Dish Network, having just decided to allow crypto payments, is still experimenting with the formula and is, as of now, allowing only one-time payments via their partnership with Coinbase, an international digital wallet. Any business or individual interested in the popular digital currency can visit their website.
By Myles Gann