BitBay Partners With Crypto Exchange and Major Retailer

BitBay has announced two exciting partnerships: with Pi Supply and Indacoin exchange
02 April 2018   182

BitBay is a decentralized marketplace, which aims to enable users to buy and sell goods and services securely and anonymously, without the need for middlemen. 

According to the announcements in the official Twitter account of BitBay, it has two exciting partnerships to announce. The first one is with Pi Supply, a major retailer of Raspberry Pi and accessories, which reportedly will list their products in the BitBay Marketplace. Later, they will release a special BitBay Staking Box, which will be available to buy this upcoming week.

Bitbay partnership pi supplyBitBay Partnership

Moreover, BitBay has officially partnered with the Indacoin exchange and are looking forward to integrating fiat purchases across the BitBay platforms. Indacoin lets its users buy over 100 different cryptocurrencies through credit/debit card payment without registration. More details on both of those partnerships will be published in the next few days.

BitBay Partnership indacoinBitBay Partnership

Previously, we have reported about the release of mobile version of Bitbay Wallet App which includes the multisignature account capabilities and advanced timelock payment options. At the moment of press, these are main market parameters of BitBay:

Average price: $0,036063
Market cap: $36 425 999
24h volume: $490 180

Myth of Total Illegal Bitcoin Use rejected by Scientist

Quebec Chief Scientist (Canada), Rémi Quirion, has issued a rejection for the “myth” that illegal transactions are among those for which BTC is basically used
25 April 2018   55

Chief Scientist is closely connected with the Fonds de recherche du Québec (FRQ) – a publicly funded establishment founded for “providing support for the production and dissemination of knowledge.” Mr. Quirion states that Bitcoin is often accused of being a good tool for crime or money laundering, adding that “Even Christine Lagarde, president of the International Monetary Fund (IMF) recently called for more regulation of cryptocurrencies to counter illegal activities.”

Quebec’s Chief Scientist insists on bitcoin offers its customers “pseudonymity,” rather than total anonymity, which detracts from its potential illicit usage. Mr. Quirion cited Jonathan Hamel, who has denied that the public nature of bitcoin’s blockchain diverts from its anonymity.

Every transaction is transparent and public. They are indeed recorded in a kind of ledger whose copies are distributed among thousands of computers.
Jonathan Hamel, Cryptocurrency Analyst, Associate Researcher, Montreal Economic Institute

Erwan Joncheres, Cryptocurrency analyst, is also mentioned in the document.  He has also denied statements that bitcoin and money laundering go alongside.

I think that tax evasion and money laundering are anecdotal on cryptocurrency networks. Since bitcoin is transparent, it will be very easy to identify all the people trading on an online exchange or portfolio platform.
Erwan Joncheres, Cryptocurrency Analyst

The document underlines the research conducted by the Center for Sanctions and Illicit Finance of the Defense of Democracies Foundation that, after analyzing bitcoin transactions made between 2013 and 2016, revealed that only 0.61% of trading transactions in the period were associated with illegal activities. The Chief Scientist refers center’s findings that illegitimate transactions within the bitcoin economy are extremely centralized, further undermining the offer that illicit activities pervade the bitcoin economy. Said research indicated that less than 10% of anonymous free markets were responsible for 95% of illegal transactions towards bitcoin between 2013 and 2016.