New Debit Cards Offer Options but Come with Compromises

Euro Pacific Bank’s gold debit card has been available since late last year and now BitInstant has a Bitcoin backed debit card in the works.

While these are wonderful new innovations that no doubt will help alternative currency users, the current options come with catches as they are compromises between the old fiat system and their more innovative alternatives.

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Bits and Pieces 1stAug

Bitcoin is now on Brazilian regulators radar. Recently the Comissão de Valores Mobiliários, the Brazilian version of the US’s the Securities and Exchange Commission, ordered a Brazilian man to suspend the operations of his investment fund. Leandro César, an IT Consultant from Belo Horizonte, had setup a small (~US$4,500) investment fund denominated entirely in bitcoin.  http://www.bitcoinmoney.com/post/28048708075/brazil-bitcoin-securities

Ron Paul’s Audit the Fed bill passes the house http://www.bloomberg.com/news/2012-07-25/fed-audit-bill-opposed-by-bernanke-approved-by-u-s-house.html

Bitcoin continues its international expansion. In May, Bitcoin caught on in China with a 700% volume increase and BitInstant customers in the US, Russia and Brazil were given 700,000 more locations to purchase bitcoins. Now Bitcoin Nordic, a new Denmark based exchange, is looking to expand into the North Africa and the Middle East market by accepting CashU, a popular payment option in the region. http://bitcoinmagazine.net/bitcoin-nordic-brings-bitcoins-to-middle-east-and-north-africa/