GBI Secures Long Term Funding With Investment From New York Private Bank… — NEW YORK, Aug. 13, 2014 /PRNewswire/ —
Apart from the implosion of Mt.Gox, 2014 has been a slow period for bitcoin.The price of bitcoin, which is correlated to public interest in the stuff , has been somewhat flat. According to BitPay CEO Tony Gallippi , that stability is actually seen as a plus by merchants though most merchants clear their bitcoin from sales directly into their currency of choice. That bitcoin is no longer gyrating like an inebriated yo-yo makes it seem like more stable stuff to invest time into supporting. BitPay is taking ashovel, not gold-panning approach, to deriving revenue from the bitcoin economy. The company charges for premium processing on a monthly basis, though its free tier is robust. BitPay expects to cross the 50,000 merchant mark in September. Quick growth, but not brisk enough to reach its 1million merchant goal.
“The visionary thinking that Howard Milstein and New York Private Bank & Trust are known for will be a very valuable asset to GBI as it further expands its existing platforms and enables its sophisticated precious metals business to be utilized by far more market participants.” “We believe our relationship with GBI will enable our clients to have a robust opportunity to invest in gold and other precious metals that have been a store of value for thousands of years,” said Howard Milstein, New York Private Bank & Trust Chairman, President and CEO. “Gold is the ultimate store of value. As inflation, geopolitical and sovereign debt risks move to the forefront of investor minds, gold will become an effective hedging component in the portfolios of small and large investors alike.” Mr. Milstein added: “GBI provides the most cost effective and advanced trading platform for investors to purchase and store precious metals, given its ability to offer consumers transparent and razor-sharp pricing through unprecedented access to the largest network of dealers.” About GBI GBI (Gold Bullion International) is a leading institutional precious metals provider to individual investors and the wealth management industry. GBI’s technology and operations platform allows investors to acquire and manage their physical precious metals assets directly through GBI or through their existing wealth management account relationships. Precious metals are acquired through a competitive institutional dealer network, stored on behalf of investors in protected and insured vaults in New York, Salt Lake City, London, Zurich, Melbourne and Singapore, and audited by one of the big four accounting firms. GBI provides the easiest, safest and most reliable option for precious metals ownership.
4 Risks Bitcoin Must Overcome – Yahoo Finance
The Napster Example Napster was a peer-to-peer music sharing service released in 1999. It threatened record labels profits because people could now get songs more conveniently and at a lower cost. The record labels sued Napster and even individual file sharers. The labels were successful in bankrupting the investor-financed company, but they were unsuccessful in stopping the file-sharing technology. Banks and regulators will discover the same thing. Digital cash cannot be regulated out of existence — it is too useful.