#StayontheBlockChain Part 1: #Bitcoin works really really well for bitcoin payments - bitLanders payments sent August 20, 2014.

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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:

  • Pakistan
  • Australia
  • USA
  • Italy
  • Canada
  • Sri Lanka
  • Brazil
  • India
  • Egypt

 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:

  1. 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 !
  2. 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.


Mike Sweeney # BitSovereign


About the author


Michael Sweeney is focused on the Bitcoin and Digital Currency efforts of Carousel 51, LLC.

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