Buy Poperty in Brazil with Bitcoin

e you looking to buy real estate in Brazil? It is now possible to do so using Bitcoin. TECNISA, a Brazilian real estate company based in Sao Paolo, accepts bitcoin. In addition, TECNISA provides incentives to its clients to use bitcoin. For example, for every R$ 10,000 (approximately 10.5 BTC) paid in bitcoin you get a discount of 5%, which works out to R$ 500.

To enable bitcoin payment TECNISA has partnered with Bitinvest, a financial services provider based in Sao Paolo. Flavio Pripas, Bitinvest’s CEO, said: “We offer through our platform faster, cheaper, more secure and transparent financial services – the partnership with TECNISA will serve as an example of how this new technology can facilitate the day-to-day lives, both for low-value transactions and for high-value transactions as the purchase of a property.”

Also read “Bitcoin rebels against the system in Venezuela”

How to Pay for Real Estate with Bitcoin

TECNISA, one of Brazil’s largest real estate companies giving a 5% bonus for buying using bitcoin
TECNISA, one of Brazil’s largest real estate companies giving a 5% bonus for buying using bitcoin
TECNISA have provided details on how to pay for a property in bitcoin on their website. When a client wants to buy property using bitcoin, he will need to let his agent know about his desire to buy using bitcoin. Then after the transaction, it is recommended that the client sends an email provided on the website.

CCN: World’s Largest & Leading Independent Bitcoin News Source

The transaction is handled by Bitinvest, who call the client to explain the bitcoin transaction procedure. All transactions in bitcoin are handled exclusively by Bitinvest. After completing the transaction, Bitinvest sends the client a confirmation message. TECNISA then uses the completed transaction to work out the 5% bonus which is added automatically.

Bitcoin in Brazil

Companies like TECNISA and Bitinvest contribute to a narrative that suggests a bright future for bitcoin in Brazil. Currently, Brazil leads the Latin American continent in the number of wallets downloaded with close to 90,000 wallets downloaded. Brazil is followed by southern neighbor Argentina with close to 40,000 wallets downloaded. Brazil has also moved to enable the use of digital currencies through legislation. For example, Law No 12,865 has created the possibility for the normalization of mobile payment systems and the creation of electronic currencies.

Brazil’s population of around 200 million, and its sheer economic muscle could effectively combine to make mass adoption of bitcoin a reality in the country. Bitcoin would be good for Brazil in a number of ways. It would help in bringing the costs of remittances abroad down. It would also help in enabling the huge numbers of unbanked Brazilians easily transact on the internet.

Were Brazil to leverage all its advantages, it would easily dislodge Argentina that leads in the bitcoin innovation space in Latin America. Argentina has taken to bitcoin due to its many economic woes. Several companies such as Bitpagos have been set up in Buenos Aires to enable the wider acceptance of bitcoin.

Other Latin American countries such Bolivia and Ecuador have banned the use of bitcoin in their jurisdictions. Venezuela is said to be mulling a ban as well. Colombia, Argentina and even Brazil itself have also issued warnings on the use of bitcoin.
It is possible that these moves by Latin American central banks may be just teething problems. However, if more established businesses like TECNISA provide bitcoin as a means of payment, it could present governments on the continent with the visible proof of bitcoin’s efficacy.

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Phil Ivey

The gambler eyed the cards being laid out on the baize table and murmured quietly to his attractive Asian companion. She had accompanied him, he told the staff at the London casino, purely for ‘good luck’.

But why then was she the one talking to their female dealer in Mandarin Chinese, persuading her to oblige her friend’s extreme superstitiousness with all manner of harmless little changes to the high stakes game of baccarat he was playing.

Some might have been suspicious, but casinos love the so-called ‘high-rollers’ willing to gamble millions in a single session. And they didn’t come much more high-rolling than Phil Ivey, regarded as the world’s greatest poker player.

A Mayfair casino will not have to pay poker player Phil Ivey£7.7million in winnings +5
A Mayfair casino will not have to pay poker player Phil Ivey£7.7million in winnings
It is believed that the poker player was helped by Cheung Yin Sun Cheung +5
It is believed that the poker player was helped by Cheung Yin Sun Cheung
His arrival at Crockfords in Mayfair, Britain’s oldest casino, the previous night had caused genuine excitement, not to mention a gleeful rubbing of hands.

As a casino inspector paced the private room, hung not only with chandeliers and oil paintings but also a battery of security cameras, the scene one August night two years ago could have come straight from the pages of Ian Fleming.

MORE…

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Bitcoin Price Still Advancing

s still advancing and has hit our target of $390 during yesterdays US trading session. Another leg of advance is building a base and upside targets are discussed below.

The layout of the article has changed. Bitcoin price analysis is posted as the final section and updates during the European and US sessions will be added at the bottom of the article. The chronology of price development should be easier to follow. Links to the various sections are provided below. Feel free to give feedback and suggestions via the comments section.

Oil Price
Global Economy
Bitcoin Price Analysis
Comments

CCN: World’s Largest & Leading Independent Bitcoin News Source

Oil Price

A brief feature, today, showing the timing of “oil wars” and policy changes and their effect on the price of oil. The chart will be explored in more detail in an upcoming “Choose Your Trade Instruments” feature:

Oil chart bitcoin 10oct2014

Global Economy

Gold
Gold is trading steadily above $1,220 with more upside expected.

US
The US Commodities Futures Trading Commission (CFTC) met yesterday to discuss its jurisdiction over Bitcoin derivative contracts (such as ETFs). CCN has covered the topic of regulation before and we’ll keep readers up to date with the outcome, if any, of the CFTC meeting. For now the only apparent statement from the meeting’s Chair has been:

Any type of open-sourced, public-ledger technology seemingly could be useful in the derivatives space, where monies and collateral are frequently transferred and settled throughout a trading day. But again, the novelty of the technology and its applications in turn present novel policy questions for regulators, and the commission needs to be thinking about those questions today rather than tomorrow.

CCN published this CFTC review article today.

Hot on the heels of the minutes of the FOMC, Fed officials have begun offering views on the timing of the first rates increase since 2006. The Fed’s promise to keep interest rates low for a “considerable time” could mean anything from 2 months to a year. New York Fed President Dudley said, earlier this week, that forecasts for in increase in mid-2015 are “reasonable.”

Selected Economic Data
Canada Employment Change and Unemployment Rate
expected: 7% unemployed
CCN

Bitcoin Price Analysis

Asian Session
Time of analysis: 04h30 UTC

After hitting the target at $390, price retraced and bounced off the green 4-hour 20-period moving average. If this is an advancing wave then, it needs to prove its ability to haul distance by getting above the 200-period moving average (red).

Bitstamp 4-Hour Chart

Bitstamp bitcoin chart h4 10oct2014

Both RSI and MACD indicators are not showing any signs of divergence and the passage to above $400, therefore, seems possible. Reaching $400 will mean that the current wave has advanced over $125 from Sunday’s low and that evidence is stacking up in favor of a medium-term uptrend.

Holding above the 20MA on the 4-hour chart keeps expectations of continuing upside alive. The current wave up has seen strong buying and little selling but soon profit-taking will occur. We can anticipate a few of the likely levels where those riding the uptrend are likely to lock in their gains:

$400 – round “psych” level
$412 – current level of the flattening (but still descending) 200MA
$424 – intersection of two trendlines (grey and orange)
$460 – 2.618 Fib extension and long-term rising trendline (at $455)
$500 – “psych” level and major support & resistance level

Returning above $500 will switch the bias to the upside – on the chart, as well as, in the popular mind. However, it’s unlikely that the current wave will strike out above $500 and more likely that $460 will be the end of the current wave of advance. $500 will be a battleground for the third wave of advance.

For now, we’re expecting a wave 1 top somewhere between $400 and $500, with $460 being an obvious target. Once price hits the high, correction to the downside should be strong: profit-taking combined with active selling into wave 2 will see swift decline. Many nervous participants will expect that the decline has returned – that the Bear is Back – and wave 2 could see price back at $300 (or even closer to $275) before wave 3 blasts the advance above $500 and $680.

Bitstamp 15-Minute Chart
Bitstamp bitcoin chart m15 10oct2014

US Session
Time of analysis: 13h15 UTC
Price corrected downwards during the European session and has fallen back below the 15-minute 20MA as well as support at $365.

Bitstamp Hourly Chart

Bitstamp bitcoin chart m15 10oct2014 2

If price continues dropping, the MACD and RSI indicators will go into reverse divergence as they fall below the previous (or even prior) swing lows while price is only making a local low. Reverse divergence can become stretched but eventually it forces price to reverse – in this case to the upside. There is no clear indication of whether a low has already printed (at current levels) and advance has resumed, or whether price may still fall to the hourly 200MA at $346 before turning back up.

Bitstamp 4-Hour Chart

Bitstamp bitcoin chart h4 10oct2014 2

The sense that additional advance will follow the current correction, is informed by the absence of RSI and MACD divergence at the last price high, as well as the fact that price has not yet touched the 4-hour 200MA (at $412).

We are expecting a larger retrace, namely wave 2, once the current wave up concludes, and the confirmation of this wave’s top will be seen in RSI or MACD divergence in the 4-hour chart.

CCN
CCN hosts a summarized Economic Calendar showing the week’s main data releases.

Readers can follow Bitcoin price analysis updates each weekday on CCN. In-depth analysis articles are published every Sunday.

Disclaimer

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Phil Ivey

A Mayfair casino will not have to pay top poker player Phil Ivey £7.7million in winnings after a High Court judge ruled his ‘edge-sorting’ technique amounted to cheating.

The 38-year-old American had sued Crockfords Club over a version of baccarat known as Punto Banco which he played at the London casino over two days in August 2012.

After four sessions, Ivey was told the money would be wired to him and he left for the United States, but it never arrived, although his stake money of £1million was returned.

Losing hand: A Mayfair casino will not have to pay top poker player Phil Ivey £7.7million in winnings after a High Court judge ruled his ‘edge-sorting’ technique amounted to cheating +5
Losing hand: A Mayfair casino will not have to pay top poker player Phil Ivey £7.7million in winnings after a High Court judge ruled his ‘edge-sorting’ technique amounted to cheating
Genting Casinos UK, which owns more than 40 casinos in the UK including Crockfords, had argued that the technique of ‘edge-sorting’ which Ivey used – which aims to provide the customer with an element of ‘first card advantage’ – was not a legitimate strategy and that the casino had no liability to him.

Edge sorting involves observing minute details on the reverses of patterned cards, enabling the punter to identify their suit and number.

Those with sharp enough vision can eventually overcome the ‘house edge’, particularly if a croupier is tricked into altering the position of the deck.

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Macau Casino Stocks Rise

Tourists walk past the Wynn Macau casino resort in Macau.
Photographer: Brent Lewin/Bloomberg
Tourists walk past the Wynn Macau casino resort in Macau.
Macau Casino Stocks Rise as Monthly Sales Meet Estimate
By Vinicy Chan and Billy Chan
October 06, 2014 5:33 AM EDT

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Sands China Ltd. (1928) led gains in Macau casino stocks as the world’s biggest gambling hub reported revenue that was in line with the government’s estimate.

Sands China Ltd. surged 7.1 percent to HK$42.95 in Hong Kong trading, Galaxy Entertainment Group Ltd. (27) climbed 6.6 percent and MGM China Holdings Ltd. (2282) advanced 5.2 percent.

Total casino revenue fell 12 percent to 25.6 billion patacas ($3.2 billion) in September, the fourth straight month it’s declined. The figure, the biggest drop since June 2009, was expected to drop by 12 percent to 13 percent from a year earlier, state-controlled Teledifusao de Macau reported last week, citing the city’s Secretary for Economy and Finance Francis Tam.

“You get the dynamic now whereas these gaming names have been so crushed that even a slight improvement is viewed positively,” Grant Govertsen at Union Gaming Group, said today. “You got a lot of investors who want to be in these names looking for an entry point.”

Wynn Macau Ltd. (1128) climbed 4.8 percent, SJM Holdings Ltd. (880) advanced 5.5 percent and Melco Crown Entertainment Ltd. (MPEL) gained 3.6 percent.

Lavish Spending
Chinese President Xi Jinping’s crackdown on corruption has dented spending by high-stakes gamblers in Macau, the only place in China where casinos are legal. Pro-democracy demonstrations in Hong Kong may have caused mainland Chinese to defer their usual joint Hong Kong-Macau trips, Govertsen wrote in a note yesterday.

“Mass market casino foot traffic — especially at the big-box casinos on Cotai — and certain instances of table games minimums, was lower than we expected,” he said. Casino companies have been opening resorts on the Cotai Strip, Asia’s answer to the Las Vegas Strip.

About 20 percent to 25 percent of mainland travelers to Macau also go to Hong Kong on the same trip, said Karen Tang, an analyst at Deutsche Bank AG.

High rollers account for more than 60 percent of the city’s gaming revenue. The number of Chinese tourists normally rises during China’s annual week-long National Day holidays that start on Oct. 1, one of the city’s busiest times of the year.

Tourist Arrivals
The political protests in Hong Kong “would put further pressure on VIP visitation,” said Govertsen, using the term that refers to high-stakes gamblers.

Still, “we acknowledge that this does not reconcile with the published Golden Week visitation data which has, so far, been universally robust,” Govertsen said.

Mainland Chinese visitors to Macau rose 14 percent to 632,646 in the first five days of the week-long holiday this year, according to data from Macau Government Tourist Office. That compared with an 11 percent growth for the same period a year earlier.

In Hong Kong, demonstrators are occupying shopping areas from Causeway Bay to Tsim Sha Tsui and Mong Kok, disrupting transportation, shutting stores and threatening to exacerbate Hong Kong’s slumping sales of jewelry, watches and other luxury goods.

Macau’s casino revenue in the third quarter to September fell 7.1 percent to 82.9 billion patacas, according to Macau’s Gaming Inspection and Coordination Bureau.

Smoking Ban
“Macau growth has decelerated sharply and will remain weak for the next few months,” Aaron Fischer, a Hong Kong-based analyst at CLSA Ltd., wrote in a Sept. 25 note. “There will be some teething problems around the new smoking ban.”

Macau’s health agency in May announced that all casinos are required to implement smoking bans on their gaming floors starting Oct. 6. VIP rooms will be exempted from this ban.

Visa restrictions and Macau authorities’ crackdown on the use of UnionPay debit cards to transfer money from China also deterred high-rollers, CLSA’s Fischer wrote.

Macau’s government in July reduced the maximum number of days Chinese passport holders with transit visas can stay in the city to five from seven, in an attempt to prevent them from abusing the system.

To contact the reporters on this story: Vinicy Chan in Hong Kong at vchan91@bloomberg.net; Billy Chan in Hong Kong at bchan101@bloomberg.net

To contact the editors responsible for this story: Stephanie Wong at swong139@bloomberg.net Frank Longid
More News: Asia, China, Retail, Luxury

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New World Record Liu Xiaodong

AUCTION RESULTS
Over the weekend, a number of auctions were held in Hong Kong, including Sotheby’s, Christie’s, Poly Auction and China Guardian.

Sotheby’s Results

In particular, the Sotheby’s Modern and Contemporary Art Evening Sale yielded impressive results. Most of the lots in the auction were sold above their high estimates, resulting a whopping total of USD 79m that evening. A new world record was set for Liu Xiaodong, as his work ‘Disobeying the Rule’ (1996) fetching USD 8.5m. Other highlights including Yu Youhan’s ‘Circle 87-2’ (USD 1m) and Jia Aili’s ‘Wasteland series No.1’ (USD 1.5m), both tripled their high estimates. Wang Guangle’s ‘Terrazzo 2004.1.1 – 2004.2.5′ fetched USD 700,000 (estimated USD 129,000 – 193,000).

Liu Xiaodong, Disobeying the Rule, 1996 fetched USD 8.5m at Sotheby’s Sale in Hong Kong over the weekend

OUR EXHIBITION

Work of the Week: TV Travel Notes No.5

“With the `TV Travel Notes’ series, Zheng is carrying out another experiment. His idea is about representing the image of a television screen, over-exposed, as if on a throne or a podium. The method, a long and fastidious one, consists in showing visible cathode screen lines, with the image being constructed through superposing these stripes. The subject matters are those of current events: a successful female singer, the Wall Street Stock market, the Afghan president Hamid Karzai… In fact, underneath the apparent randomness, all of these images suggest the imminence of a verdict: that of the public, of the market, of the jury, of the ultimatum of the terrorists”

RedFlag Collection, Zheng Guogu, MAP Book Publishers, 2008

Editor: Jean-Marc Decrop

Zheng Guogu, TV Travel Notes No.5, 2005, 158 x 210 cm, Oil on Canvas, Price upon Request

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Antique Chinese Bowl Auction

This antique Chinese bowl, which had a guide price £600, sold for more than £38,000 at auction yesterday.

The blue and white porcelain pot, which is believed to be a 19th century copy of one made in the Kangxi dynasty of 1662 to 1722, was bought by a Chinese man who lives in Britain.

Unassuming lot 379, which is eight inches wide and depicts a man ploughing a paddy field with water buffalo, attracted a surge of interest from its homeland after the auction catalogue was put on the internet.

Have you got one of these in your attic? An antique Chinese reproduction’ bowl which had a guide price of £600 sold for more than £38,000 at an auction in Newcastle
Have you got one of these in your attic? An antique Chinese reproduction’ bowl which had a guide price of £600 sold for more than £38,000 at an auction in Newcastle
Auctioneer Steven Moore, of Anderson & Garland, Newcastle, said: ‘I wasn’t surprised by the price, as I knew the amount of interest it had generated.

‘Chinese people are trying to find and collect their heritage.

‘There were four collectors from China and a London dealer bidding as well.’

The bowl belonged to the vendor’s aunt, who lived in Middlesbrough and worked as a doctor.

She became interested in Chinese art after visiting the country and bought the bowl in the 1960s or 1970s in Britain.

Auction house Anderson & Garland put a guide price of £400- £600 on the item, but after pictures of the item were posted on the internet, strong interest emerged from bidders in China.

Pottery from the Kangxi dynasty is extremely valuable, but is this piece worth the astounding price paid?
Pottery from the Kangxi dynasty is extremely valuable, but is this piece worth the astounding price paid?
The surge of interest pushed the price up sixty-fold, as the Chinese sought to reclaim part of their lost heritage which bears the mark of Emperor Kangxi, who reigned from 1662 to 1722 in China.

Mr Moore said: ‘Because the Chinese had this tradition of making things in an earlier style and putting the earlier marks on it’s very difficult to know exactly what it is.

‘If they made a piece in 1850, they would then put the Emperor’s mark on it, not as a fake, but because it was a tribute to him.’

‘Myself and others at a very high level in the ceramics community believed it to be a 19th century copy.

‘However, because of the way auctions work, it was circulated worldwide and it made the right price for what it’s actually worth.

‘The Chinese were the first people and only people to make porcelain until the 18th Century.

Ceramics expert Steven Moore assesses the Chinese bowl at Anderson and Garland auctioneers
Ceramics expert Steven Moore assesses the Chinese bowl at Anderson and Garland auctioneers
‘The wealthy in England and France began to acquire things like Chinese porcelain.

‘Now China is developing and having their own Industrial Revolution, they wish to buy it back.’

A Chinese man living in the UK bid the highest price at this week’s auction.

Mr Moore added: ‘There is the possibilty that people have these things or things similar to this sat in their house and it is very possible that they are also worth this amount of money.

‘This is definitely the best time to sell Chinese porcelain.’

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Phil Ivey Champion Poker Player

One of the world’s best poker players “stitched up” a venerable London casino after taking advantage of a minor flaw in playing cards to go on a remarkable £7.7 million winning streak, the High Court has heard.
Professional player Phil Ivey created an “air of superstition” by insisting on wearing a lucky hat, using a lucky Asian card dealer and a lucky pack of cards to hide the fact that he had adopted a system that tipped the odds in his favour, the casino management claimed.
Aided by a Hong Kong friend, Mr Ivey, 38, turned around early losses to win the fortune over two days of playing a game of little skill at the upmarket Crockfords Club in London’s Mayfair that is part of the £21 billion Malaysian Genting Group.
Mr Ivey is suing the casino group after it returned his £1m stake but refused to pay his winnings after claiming that it had been cheated out of the money. Despite being one of the biggest casino operators in the world, senior staff at the casino were unaware of the known flaw in the playing cards, the court heard.
Mr Ivey says that he exploited the casino’s failures to take proper security measures and they went along with all his requests without question. “Putting it bluntly, he played, he won and they ought to pay up,” said Richard Spearman, counsel for Mr Ivey.
Ivey turned around early losses to win the fortune at the upmarket Crockfords Club in London’s Mayfair Ivey turned around early losses to win the fortune at the upmarket Crockfords Club in London’s Mayfair (Alamy)

As a high-roller of international standing, Mr Ivey was given a private room to play a version of Baccarat known as Punto Banco over four sessions in August 2012. He was a regular at the club – and was considered enough of a VIP for him to request a private jet from Barcelona to London, according to court papers.
CCTV footage that captured the game showed how Mr Ivey used the technique of “edge-counting” to give him a better chance of guessing the next card that would come out of the shuffling machine.
The game – based on gambling on the value of two or three cards – was tipped in his favour after the pair asked for the best cards – 7s, 8s, and 9s – to be turned 180 degrees before they were put back into the machine.
Because of the flaw in the cards – that was not known by the casino – Mr Ivey was able to spot them before they came out of the shoe and gave him a better chance of winning.
Phil Ivey pauses during a hand at the final table at the 2009 World Series of Poker (WSOP) Phil Ivey pauses during a hand at the final table at the 2009 World Series of Poker (WSOP) (Getty Images)

Staff at the casino discussed the fact that they asked the dealer to turn around some of the cards “like that made any difference” and put it down to superstition. “It did make a difference,” said Mr Spearman. “They just didn’t realise.”
But Mr Ivey’s legal team said that casinos “preyed upon” the superstitions of big-money players to make some of their highest profits. But Mr Ivey – whose poker tournament winnings alone amounts to more than £12m – and his assistant Cheung Yin Sun were allowed to request their changes unchecked over hours of play.
Mr Spearman told Mr Justice Mitting, a bridge player who said that he had never been to a casino, that there was an adversarial “cat and mouse” atmosphere at the club. He said that the casino could have halted the winning streak by changing cards or putting extra security on the dealing machine – but they didn’t.
“He regards this as entirely fair play,” said Mr Spearman, who said that his client had used the technique at casinos in Canada, the US and Australia. “If a casino fouls up from start to finish that’s the gamblers good fortune.”
Christopher Pymont QC, counsel for the casino, said that he took advantage of ignorance at Crockfords and said Mr Ivey’s actions were “highly immoral and dishonest”.
“The whole point is to stich up the casino, to fix it, when you know it’s in ignorance of what you’re doing,” he said.
The case, which is expected to last a week, continues.

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Bill Gates

bill gates on bitcoinBill Gates has updated his stance on Bitcoin since calling it simply a “technological tour-de-force” months ago. Earlier today, speaking with Bloomberg TV’s Erik Schatzker, Bill Gates admitted “the Bitcoin technology is key.” Earlier today, Bill Gates gave the final speech at SIBOS 2014, the annual SWIFT banking conference held this year in Boston. The Gates Foundation recently pledged $50 million USD to fight Ebola worldwide.

In his speech, Bill Gates shared his vast well of experience with the Bill and Melinda Gates Foundations’ efforts to combat financial inequality around the world. Specifically, he spoke on the promise of digital financial services and how the world’s existing financial institutions should leverage them to provide services to the developing world. Always astute, Bloomberg News‘ Schatzker took the opportunity in an interview to ask Bill Gates whether or not Bitcoin “fits the bill.” Though Bill Gates still has marked worries about Bitcoin’s use in terrorism and money laundering, it is clear that he now recognizes the promise of blockchain technology.

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