Monthly Archives: December 2018

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GoCoin allows Bitcoin, Litecoin & Dogecoin payments on Shopify

AltcoinsGoCoin joins Coinbase and BitPay as the last Bitcoin payment processor in the e-commerce platform Shopify. Unlike Coinbase and BitPay, however, GoCoin will enable merchants to make Litecoin and Dogecoin payments in addition to Bitcoin.

Eric Benz, Business Development Advisor at GoCoin said the deal was closed months ago and was ultimately only signed because merchants like GAW Miners asked for Altcoin payment solutions.

Benz explained to Bitcoin news:

“At the beginning of our negotiations Shopify was reluctant…but a lot of the dealers we already work with are also represented on the Bitcoin news platform…they were the driving force that sealed the deal in the end.

Louis Kearns, Product Manager at Shopify, confirmed that the demand for Altcoins (Litecoin & Dogecoin) from merchants was the driving force behind the decision to partner with GoCoin in addition to the two existing payment processors.

“GoCoin offers Bitcoin and other Altcoins for payment processing. The demand for Altcoin payments was very high and the integration of GoCoin went quickly and smoothly thanks to the Gateway API,” said Kearns.

Focus on men’s toys
With the integration, the GoCoin payment method will be activated for more than 120,000 merchants on the Shopify platform. The list of resellers active on the platform includes companies such as General Electric and Tesla Motors.

Benz says that a pilot program to test the GoCoin integration has already caused a jump in payment volumes at some dealers. GoCoin had worked with a number of companies, preferably Miner for crypto currencies, prior to the Shopify integration. They were also involved in the 8-week trial period. The payment volume of the companies more than tripled during the time on the Shopify platform.

In order to promote integration on the Shopify platform, GoCoin will focus on Shopify merchants who are in the mining or technically savvy industry.

“Our focus is on miners, electrical goods and ‘men’s toys’,” says Benz.

In order to attract some attention, there will also be some special promotions in the near future.

Victory of the Bitcoin formula

Benz sees the new partnership as a clear victory for the Bitcoin formula market and a signal that GoCoin is well on the way to establishing itself as a serious payment processor like in this review.

“This is a big step for the Altcoin market and we are very proud of it… It shows that we want to compete with the biggest names in the business. So far there are only three payment processors on Shopify and we are one of them.”

Kearns told CoinDesk in an interview that Shopify has already processed tens of thousands of Bitcoin transactions from thousands of merchants.

The company welcomes the new payment methods and added:

“We always have an eye for new technologies that help our customers. The partnership with GoCoin now allows our customers to use different crypto currencies”.

Just last week, GoCoin announced a partnership with Cozy Games. Cozy Games is a regulated online gaming platform where customers can now also pay in Bitcoin and Litecoin.

Bitcoin scam warning: Fraudsters copy Binance to Telegram

Bitcoin-Scam: Fraudsters are currently posing as representatives of the Bitcoin exchange Binance to allegedly celebrate the launch of their decennial exchange. The fraudsters promise to give away a total of 10,000 BTC in telegram groups and on websites. To do this, users must transfer Bitcoin in order to get five times the amount back.

Giving away 10,000 Bitcoin – that sounds too good to be true. And it is. The so-called giveaway scams always work according to the same scheme. Users should have a certain amount of crypto currencies – in the past this was always the case at Ethereum (ETH), currently fraudsters pretend to be Binance to give away Bitcoin.

The Bitcoin trader scam is quite elaborate

The Bitcoin trader scammers announce the action on a specially set up Bitcoin trader homepage: To celebrate the alleged launch of their Decentralized Exchange (DEX), they want to give away a total of 10,000 BTC. In order to participate, users simply have to transfer their BTC to a specific address and receive five times the amount back. The fraudsters even set up a transaction history, which looks as if transactions are constantly coming in and out. In addition, there is a group in the Telegram Messenger with a total of 29,000 members. Users regularly post that the system is supposed to work.

Binance warns against crypto trader scam

However, the stock exchange does not confirm the giveaway on their Twitter account. It officially says that the promotion is a crypto trader scam: “We’ve noticed that there are a number of fake telegram groups pretending to be Binance. Our official English telegram channel is t.me/binanceexchange. All other official groups can be found at binance.com/contactUsCn.ht… Tell your friends and the community that everyone is safe.

In an attached February tweet, the Bitcoin Exchange representatives say they would never give away crypto currencies in the form described above:

Scammers are impersonating official Binance accounts and tweeting to ask for deposits to specific addresses in return for gifts.

You will lose your tokens if you do this!

Binance will never ask you to send coins directly to any address for any reason. Watch it! Watch it! Scammers imitate official Binance accounts and tweet to ask for deposits at specific addresses for gifts.

You will lose your tokens if you do! Binance will never ask you to send coins directly to any address for any reason.

Stay safe!

General Motors: Patent application for blockchain use in autonomous vehicles

General Motors (GM) seems to push ahead with its blockchain ambitions. On November 29, the US carmaker filed a patent for the blockchain-based exchange of vehicle data.

The Bitcoin code technology is to be used primarily in autonomous vehicles

The Bitcoin code patent for a “system for using a blockchain database to exchange data between vehicles” was filed by GM with the US Patent & Trademark Office on November 29. In it, the automotive group describes a method with which vehicle data from road traffic can be stored on a blockchain. If implemented, this database would be open source. This means that not only General Motors vehicles can access the decentralized database, but that owners of other makes can also benefit from the service.

The project is primarily concerned with valuable geodata. The system is supposed to detect movement patterns of the vehicles and share them with other users. This could, for example, prevent congestion.

“For the interoperable exchange of information between road users, it is desirable to store location information and vehicle density in certain regions on a blockchain, it says in the patent application.

An open Bitcoin code platform

In addition to participants in road traffic, the Bitcoin code system should also be open to local authorities and authorities. They could, for example, use the GM platform to pay fines.

In particular, the system could offer interesting advantages for autonomous driving. For example, autonomously operating vehicles could use the blockchain for the automatic payment of all possible charges.

“It is desirable to have a trusted financial platform to manage autonomous vehicles. For example, the blockchain could automatically process toll and parking charges for autonomous vehicles.

GM in the blockchain bunny hole
However, General Motors is not a newcomer in the blockchain sector. After all, the Group played a leading role in the founding of the Blockchain consortium MOBI. Together with well-known companies such as Ford, BMW and Bosch, GM has since been researching blockchain applications in industry.

The goal is to make global transportation “safer, more affordable, and more accessible,” according to the corresponding press release.