Tag Archives: payments
Australian Online Retailer Millennius Now Accepts Bitcoin
Australian online electronics retailer Millennius declared that it will be the first major Australian online retailer to accept Bitcoin.
As reported at iTWire, Millennius founder Pierre Boutros said the retailer is always looking for ways to make purchasing online easier for consumers, both in Australia and throughout the world. “Bitcoin is becoming a far more common payment mechanism for online transactions, with many global online businesses adding the functionality,” Mr Boutros said. “We’re proud to be the first major Australian online retailer offering the Bitcoin payment system and we look forward to it making our growth in the new markets in the US and the UK later this year even easier.”
All products in the Millennius site are now available for purchase using Bitcoin, while credit card and bank transfer payment functionality also remain for those customers that prefer them.
Millennius is also accepting competing currency Litecoin.
“Millennius is all about creating great products at great prices, and offering the best deal on brand name consumer electronics. The addition of Bitcoin and Litecoin as payment options can only help with our ability to offer great deals to wider customer base,” Mr Boutros said.
via iTWire.
CC image by marc falardeau
Here Comes the Bitcoin Venture Capital
Bitcoin Venture Capital Heats Up
Lightspeed Venture Partners’ Jeremy Liew published his perspective on the incredible opportunity to invest in companies that are building new ideas for the Bitcoin ecosystem. It looks like the Bitcoin venture capital is heating up.
There are three key markets in Bitcoin:
Wallet. Holding your Bitcoins for you, serving some of the checking account functions of a bank.
Exchange. Converting from USD to Bitcoins and back.
Payments. Helping merchants accept Bitcoins for their transactions.
As a rule of thumb, VCs like to see billion-dollar markets to get excited. How can each of these markets get to be a billion dollars in size?
To build multi-billion dollar opportunities, the Bitcoin economy needs to grow 100X from where it is today, Liew goes on to say. But to put that in perspective, it grew more than 10X in the last year.
These opportunities are not without risk. Liew acknowledges that in its short existence, Bitcoin has been the target of theft and over 10% of the Bitcoins in circulation have been stolen. This and other risks will make it hard to be build sustainable businesses, but not impossible.
Via TechCrunch.
