Image Image Image Image Image Image Image Image Image Image Image Image

| November 15, 2018

Scroll to top

Top

Ditches Archives -

Nevada Ditches the ‘Pink Tax’

November 8, 2018 |

No more “pink tax” in Nevada: Voters on Tuesday amended the state’s 1955 tax act to remove the sales and storage tax on menstrual products. Feminine hygiene products are already exempt from sales taxes in nine other states and the District of Columbia, and in an additional five states there…
Newser

Popular Bitcoin Wallet Samourai Ditches All Government Currencies

September 29, 2018 |

Popular Bitcoin Wallet Samourai Ditches All Government Currencies

In what could be construed as calling the casual enthusiast’s bluff, BTC maximalists at the Samourai project announced, “All fiat currency conversions have been removed from Samourai Wallet. We understand this may inconvenience some, it may even be enough to cause us to lose some users, but we believe it is fundamental that our existing and future users understand that when they transact within the Bitcoin network, when they participate in the Bitcoin economy, they are transacting with the token native to the Bitcoin network, BTC, and nothing else.”

Also read: Colombia Crypto Exchange Asks New President for Banking Help

Samourai Wallet Increases Native Languages, Gives Fiat Currencies the Boot

“0.98.87 – Welcome new international users, and saying adieu to fiat currency”, came the ad hoc title alerting users to a wallet update through Google Play and Github. The notoriously privacy-obsessed project revealed, “Samourai Wallet is now available in 12 languages with French and Chinese added in this release. These aren’t generic computer translations, these are translations by actual bitcoin users from the local region, and as such are extremely high quality and contextual.”

Popular Bitcoin Wallet Samourai Ditches All Government Currencies

Languages incorporated into the platform now include Brazilian Portuguese, Bulgarian, Chinese, French, German, Indonesian, Italian, Portuguese, Russian, Spanish, and Turkish. They claim to have “already seen the side effects with installs increasing dramatically from international user bases with a native translation, usually in places where they need Samourai the most.”

And while the above will inevitably lead to more adoption, at least for their wallet, the real tension in the post came with the announcement Samourai was ditching fiat almost entirely. Nearly all cryptocurrency communities have lofty goals of creating their own ecosystem, self-supporting, self-referencing. It appears the Samourai community is tired of debate, of hoping, of dreaming for that future.  

Government Money Is a Crutch

“In 2015 when we first launched Samourai Wallet,” they continued, “we reasoned that a fiat based conversion rate would be a convenient feature for users who wished to have a rough idea of what their BTC stash was worth in fiat currency at any given time. We said ‘users aren’t ready’ to give up fiat in the wallet, and we ended up including what we called the ‘Street Price’ – the fiat conversion rate as provided by exchanges and services without KYC/AML requirements – and left it at that.”

Popular Bitcoin Wallet Samourai Ditches All Government Currencies
But then something happened. Veterans will tell you. BTC’s importance quickly pivoted from being its own end in exchanging goods and services to valued almost strictly in relation to how much government money it was worth. Some took it in stride, a kind of growing pain to be worked out later; others were increasingly disgusted. “In 2017 we noticed a disturbing trend within the wider community,” the post lamented. “Many news outlets, data providers, prominent persons, and innocent users started to refer to bitcoin transactions in USD terms instead of BTC terms […] We reasoned that ‘Users aren’t ready’ to give up thinking in fiat terms, and with education they would eventually change.”

Recently they realized “users will never be ready. Thinking in fiat currency terms is familiar, you likely interact with it all the time. This is precisely the reason that within the context of a Bitcoin wallet it is a crutch. We have made the decision that as of version 0.98.87 to remove that crutch.” The only concession is to independent merchants “who frequently use the [Sentinel Watch Only app] and [where] other use cases require the use of a currency conversion function.”

Is it time for all crypto enthusiasts to do the same as Samourai and ditch USD pricing? Let us know in the comments below. 


Images courtesy of Shutterstock.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Popular Bitcoin Wallet Samourai Ditches All Government Currencies appeared first on Bitcoin News.

Bitcoin News

Bank of Japan Ditches Inflation Target Date

April 27, 2018 |

The Bank of Japan dropped its target date for reaching 2% inflation, another sign that Japan has yet to fully escape its long period of falling prices.
WSJ.com: What’s News Asia

Toy mogul Isaac Larian ditches GoFundMe campaign and bids $890 million for Toys R Us stores

April 14, 2018 |

California toy mogul Isaac Larian submitted a $ 675-million bid Friday to buy 274 Toys R Us stores in the United States — and another $ 215 million to acquire 82 stores in Canada.

The bid came a little more than three weeks after Larian launched a $ 1-billion GoFundMe campaign to save hundreds of…


L.A. Times – Business

TMZ

SAG Awards 2018 Ditches Black Outfits, Still Boasts ‘Time’s Up’

January 21, 2018 |

Early arrivals for the 24th annual SAG Awards were quite telling … ’cause a lot of the women appear to have abandoned the blackout for “Time’s Up.” It was obvious Sunday as celebs made their way to the Shrine Auditorium that many of the ladies…

TMZ.com

McDonald’s Ditches Frozen Patties in a Second Burger

January 2, 2018 |

McDonald’s is testing the use of fresh beef in another burger, the latest move by the fast food chain to swap out frozen beef as it seeks to improve its image. The company said Tuesday that the new burger, called Archburger, is being tested in seven McDonald’s restaurants in Tulsa,…
Newser

Analysis: Face-to-face with Rohingya, pope ditches diplomacy

December 3, 2017 |

Pope Francis has gotten into trouble before for ditching diplomatic protocol and calling a spade a spade, most famously when he labeled the Ottoman-era slaughter of Armenians a “genocide” from the altar of St. Peter’s Basilica.
FOX News

Analysis: Face-to-face with Rohingya, pope ditches diplomacy

December 2, 2017 |

Pope Francis has gotten into trouble before for ditching diplomatic protocol and calling a spade a spade, most famously when he labeled the Ottoman-era slaughter of Armenians a “genocide” from the altar of St. Peter’s Basilica.
FOX News

Senate tax bill ditches stock option change after outcry from tech start-ups

November 16, 2017 |

A revised Senate tax bill has ditched a change in the treatment of stock options after an outcry from technology start-ups.

The original bill released last week proposed to tax stock options on the date they vest instead of when they are cashed in. Technology start-ups such as Hyperloop One, Airbnb,…


L.A. Times – Business

Trump Ditches Obama Rule on Birth Control Coverage

October 6, 2017 |

President Trump is allowing more employers to opt out of providing no-cost birth control to women by claiming religious or moral objections, issuing new rules Friday that take another step in rolling back the Obama health care law, the AP reports. The new policy is a long-expected revision to federal…
Newser