Precious metals dealer JM Bullion announced on Wednesday, that is accepting bitcoin from now. The company joined an increasing number of other US-based precious metals dealers that accept it for payments, like Agora Commodities and Amagi Metals.
JM Bullion’s acceptation of the cryptocurrency will be processed through a partnership with merchant processing startup BitPay. Customers are about to receive 4% discounts on bitcoin purchases, an offer also extended to those who pay with bank transfers and paper checks.
Director of e-commerce Thomas Fougerousse stated, the with this decision, his company expects to reach wider audience, to offer better conditions for payment to.
Fougerousse stated:
“Bitcoin is allowing us a new way to meet demand from dedicated precious metals buyers.”
Generally, bitcoing’s use is not being overshadowed by permanent focus on blockchain technology and its possibilities of use. As Coindesk inform in its bitcoin report for the year 2016, major merchant processors BitPay and Coinbase are no longer informing about the number of merchants enrolling in services. Nevertheless, numbers are still pointing to a jump of 42% on a yearly basis.
Bitcoin Group to return raised funds
Australian cryptocurrency miner Bitcoin Group informed on Wednesday that it is returning $5.9m it raised from investors right after the announcement of the Australian Securities Exchange (ASX), asking the company to raise more capital and resubmit its application.
The firm informed in a statement to investors that it would return the funds after Australian securities officials deemed the firm ineligible to list due to worries about its long-term operational viability.
ASX, added that Bitcoin Group would need to raise further capital in 2017 in order to stay operational after the bitcoin mining reward falls from 25 BTC per transaction block to 12.5 BTC.
Bitcoin Group naturally refused this stance in their investor note, arguing that Grant Thornton did not take into account possible price increases following the subsidy halving, as well as an expected drop in the mining difficulty or future efficiency gains in mining hardware.
The company announced:
“The directors consider that it is appropriate to now withdraw from the IPO process and consider proceeding with a new offer after blockchain halving has occurred and the price of bitcoin responds to the halving, which we expect to occur by September 2016.”
The withdrawal marks the latest incident in a long string of problems for the mining company in its dealings with Australian regulators.
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