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from the giving-new-meaning-to-the-word-BLOCKchain dept.
Businesses are turbocharging cryptocurrency adoption as demonstrations against Chinese interference in Hong Kong enter their 12th week.
Hong-Kong based department store, Pricerite announced, on Facebook Monday that it will now accept bitcoin, ether, and litecoin at all its stores.
Starting immediately, its new concept store at the popular MegaBox shopping centre in Hong's Kong's Kowloon Bay area, will convert crypto payments into Hong Kong Dollars (HKD) in real time at its cash registers. With Bitcoin's Lightning Network that's possible in a matter of seconds, according to Pricerite.
Bitcoin Cash is also proving popular among protest supporters, and measures are being taken to further promote the cryptocurrency, as well as to support dissidents.
Genesis Block operates 14 crypto currency ATMs in Hong Kong, trading under the name "CoinHere." In July, the ATM operator distributed water paid for with international donations made in bitcoin cash.
The water bottles had a QR code that allowed recipients to donate bitcoin cash to fund additional supplies for protestors.
The exchange also provided umbrellas to the protestors. The umbrellas featured the bitcoin symbol, and were a nod to the 2014 "Umbrella Revolution" in Hong Kong, during which hundreds of thousands of residents took to the streets in protest.
(Score: 2) by JoeMerchant on Thursday August 29 2019, @10:44PM (1 child)
Bitcoin Cash is trying to improve, and Bitcoin classic is not a hard bar to beat - last I checked if you were buying your electricity in Florida it was costing over $90 per transaction recorded in Bitcoin Classic. Visa/Mastercard are now regularly used for transactions under $1, and the system / merchants wouldn't do that if it were losing money for them. I think there are even candy vending machines that take Visa et. al. for sub $1 transactions - I'd imagine the cost of processing that is on par with or better than the cost of sending somebody around to empty out the hard currency.
🌻🌻 [google.com]
(Score: 0) by Anonymous Coward on Friday August 30 2019, @01:04AM
Lightning / BOLT is the solution - raw bitcoin transactions are no longer the way to do things