BTCC’s Mobi and Bitwala turn away from non-EU Visa users

BTCC’s Mobi and Bitwala announce the suspension of Bitcoin cards for non-EU Visa network users
01 September 2017   1398

China-based BTCC's Mobi wallet application is to stop offering its Visa debit card service to non-European residents on October 15th, 2017 as because of the new licensing restrictions from Visa.

On top of that, Berlin-based Bitwala, a Bitoin wallet management app, also announced they would be suspending service on all existing debit cards for users who live outside of the Visa European territory. Thus, according to Visa's new regulations, only customers in the EEA and selected adjacent states will be able to order the Bitwala Debit Card. Bitwala will suspend service on all existing Debit Cards for users who live outside of the European territory by October 15th, 2017. The new regulations came into force on August 21st and users who have ordered their cards from August 9th have been refunded.

Furthermore, Bitwala team has also announced some changes in their currency policy:

Bitwala currency suspension Bitwala currency suspension

As reported, in the past week, Xapo and Shakepay also announced that they would be halting service of their Bitcoin enabled debit cards to all card holders who reside outside of the Visa European payment network.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   137

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.