I know, I know, bitcoin's price was down this week for a bunch of reasons not related to Bitcoin. Remember:
- Bitcoin is a technology, and
- bitcoin is a payment system that is recorded in a public ledger using its own unit of account - bitcoin.
The reality is we were just able to send out payments of 0.2 BTC to 2.0 BTC around the world for a fraction of the price of traditional payment systems. Payments were sent to:
- Sri Lanka
I am a believer because the technology works so well. Now what can you do with your payments? Our strong suggestion now is to #StayontheBlockChain and one place that you can spend your bitcoin is on the bitLanders Shop:
Others retailers where you can #StayontheBlockChain include Dell Computers, Overstock, and Expedia. The list grows everyday. Now when you #StayontheBlockChain, you avoid banking and transfer fees. Trust me, they add up.
bitcoin Payment Issues:
This week we have two main issues and we tried to email everyone. In case we missed you, please note the following:
- If you are listed as a USA citizen, we need your Social Security Number so that we can issue you a 1099 at the end of the year. Yes, you have to pay taxes with bitcoin !
- Many people are listing their bitcoin wallet identification number in your profile. We need your bitcoin wallet address which is different.
We will soon be transferring our payment system to a payment system run out of Taiwan and Hong Kong, so please try to make the corrections as soon as possible.