SoylentNews is people
SoylentNews
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 legont on Friday August 30 2019, @04:15AM (1 child)
Easy for today. The founder was just ordered to pay $5 billion in bitcoin to his dead buddy inheritors. Being in Florida, said inheritors would have to pay 40% taxes - two billion dollars in bitcoins are going for sale. Nice, right?
But here is the best part. What if while selling the shit, the inheritor would not be able to collect 2 billions dollars demanded by the government even if he dumps the whole 5 billions in bitcoin in current values. That would be epic.
The US government takes only dollars, you know. Not bitcoins, not oil, not food, and not even gold in the US minted coins. Dollars in cash.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.
(Score: 0) by Anonymous Coward on Friday August 30 2019, @03:09PM
Its more likely the opposite happens. By the time he is done selling bitcoin will have risen enough so that he has $2 billion extra dollars. That is what happened to mt gox. They made so much money while bankrupt just due to holding btc they could pay everyone back many times over in dollar terms.