Operating Your Own Bitcoin ATM
The demand for effortless and easy Bitcoin exchanging service everywhere is increasing globally. People are more interested in Bitcoin, and more shops accept Bitcoin everyday, both offline and online. The usability of Bitcoin is increasing, so more people want to hop the Bitcoin train everyday. Also remittance use is increasing – on LocalBitcoins we have seen volumes in developing countries increasing, along the more developed countries.
How a Bitcoin ATM Woks:
LocalBitcoins ATM is an affordable and robust machine for automatizing your Bitcoin exchange business. The LocalBitcoins ATM is unique because it does not require internet connection, but the exchanging happens on the LocalBitcoins website. The ATM works as a simple and safe cash-box. This makes the ATM very robust. The ATM has 30-note recycler, which also increases mainteinability and makes the process robust. The customers who withdraw can get the same notes that other customers deposit.
This makes the operators work easier. The operators has to take care that he has enough Bitcoins to sell, empty the cash box when full, and take care that there are notes in the ATM for customers to withdraw.
LocalBitcoins as a Finnish company has been a pioneer in advising the regulatory agencies in this process and adapting to the new standards of compliance for the cryptocurrency industry. It is LocalBitcoins’ mission to bring Bitcoin everywhere and by being a reference in compliance, we also aim to promote trust, legitimacy and maturity in the Bitcoin ecosystem, while paving the way for it to become a more viable and widespread currency and combating criminal use of Bitcoin and its network. We are confident that the new measures will bring significant benefits to our user base, promoting a safer trading environment and acting proactively in preventing fraud.
LocalBitcoins Exchange Promo Code
The founders of the ride-sharing app Lyft filed their IPO papers last week, and their vision for the company is dramatic. Lyft (which works a bit like Uber) is not just about getting you from A to B, they say. Rather, founders Logan Green and John Zimmer believe that car ownership is in permanent decline and they want to help it die, they write in their S-1 filing.
“We believe that the world is at the beginning of a shift away from car ownership to Transportation-as-a-Service, or TaaS. Lyft is at the forefront of this massive societal change,” they told investors. “Car ownership has … economically burdened consumers. US households spend more on transportation than on any expenditure other than housing. … On a per household basis, the average annual spend on transportation is over $9,500, with the substantial majority spent on car ownership and operation.”
Cars create “inequality,” they argue. “The average cost of a new vehicle in the United States has increased to over $33,000, which most American households cannot afford,” the IPO says. “We estimate over 300,000 Lyft riders have given up their personal cars because of Lyft.”
They may be right.
If there is an historic moment at which the car industry goes the way of the horse-and-cart, this is it.
For example, in January, car sales in Britain declined 18.2%, to 1.49 million vehicles annually.
It was the eighth successive month of decline, according to SMMT, the industry body which tracks automobile data.
The group blamed Brexit. “The clear and present danger remains the threat of a ‘no deal’ Brexit, which is monopolising time and resources, undermining competitiveness,” said Mike Hawes, SMMT’s CEO.
It’s not just Brexit, of course. There has been “weaker demand in both UK and key export markets,” SMMT said. In fact, car sales in Britain have been declining since 2017.
While an 18% drop sounds calamitous, it’s mild compared to what’s going on in Turkey, where consumers have cut their car purchases by a staggering 60% since January 2018, according to data collected by UBS analyst Gyorgy Kovacs and his team.
Turkey, of course, is in the middle of a grinding recession due to the collapse of its currency, the lira. GDP growth for the year 2019 is set to decline -2.9%, Kovacs predicts.
Although extreme, Turkey can be regarded as a bellwether. Today’s cars last so long that if bad times happen consumers can simply stop buying new ones and get along just fine with their old ones. Turkey proves that.
The UK and Turkey can be written off as special cases. Most countries aren’t grappling with Brexit or the lira crisis. But it turns out that “special cases” are now the rule, not the exception, for the car industry.
Here’s the car data for the entire eurozone, the 19 countries in Europe that use the euro as a currency, supplied to Business Insider by Lazard Asset Management. Car sales are down across the board:
The shape of that chart bears a resemblance to this next one, from HSBC, which tracks total car registrations in the US, indexed to 2011. The data was collected by HSBC analysts Janet Henry and James Pomeroy. This chart is surprising because, for decades, Americans have regarded their cars as extensions of their cultural identity.
And yet, they don’t want them they way they used to:
Both Europe and America have taken clear steps back from car-buying. This next chart shows sales of new tires on new vehicles — a directional proxy for car sales — indexed to a start-point in 2006. It comes from UBS analyst David Lesne and his team. After the financial crisis of 2008 tire sales rebounded, especially in the US. In Europe (the blue line), sales took a clear step down in 2013 and then continued in a lower gear. In North America (the brown line), it looks like the downward step-change occurred in 2017:
New car sales recently peaked in the US. But this year — 2019 — they took a sudden dip. Auto sales were down 1% in February and down 3% in January, according to JD Power and LMC Automotive. More than 7 million Americans recently went into “serious delinquency” on their car loans, a new high since the financial crisis, according to the Federal Reserve Bank of New York.
Finally, here are the tire-sales data for China. Both new and replacement tires have taken a dip inside the world’s second-largest economy:
All around the world, employment is at record highs. The Chinese economy is still growing at a rate of 6% per year. There is wage growth in most Western economies. Consumers should be feeling very confident about buying new cars. Yet the auto business is behaving as if it’s already in a recession, with plant closings and global layoffs in the thousands.
This is worrying for recession-watchers.
Cars are such big purchases that they can have a macro effect on the economy.
Germany and Britain are the Detroits of Europe. They depend on each other for parts, manufacturing, and sales. Yet — due to Brexit — the relationship is falling apart. Britain’s departure from Europe will wipe points off its GDP growth no matter how good a trade deal prime minister Theresa May can get. But Germany will lose too, as logistical and tax barriers go up between it and its most important car-making partner. According to Reuters:
“A no-deal Brexit … would push up British import tariffs for German cars to roughly 10 percent. For trucks and pick-ups, tariffs of up to 22 percent would apply. … the combined impact could chop off up to 0.7 percentage points from Germany’s gross domestic product (GDP) growth in the long term, separate estimates from Commerzbank and the Ifo institute show.”
A thoughtful article from Bloomberg argued recently that the popularity of rideshare services like Uber and Lyft is driving the decline. Business Insider has argued that case before, too. Uber has all but admitted that it wants to end private cars driven by humans in favour of a driverless fleet, ending 40,000 jobs in London alone.
The guys at Lyft are right. Automated, driverless transport services will likely reduce the demand for cars in the future.
It’s hard to say whether car manufacturing is hurting because the greater global economy is faltering, or whether the faltering economy is hurting cars.
Either way, it’s not good. We’re looking at the end of an era.
Buckle up. We’re in for a bumpy ride.
Some car models aren’t going anywhere any time soon.
Take the Ford Mustang: since its first production year back in 1965, new ‘Stangs have rolled off the factory line ever since.
So too have mainstay family cars like the Toyota Camry and Honda Accord, both of which have enjoyed several decades of production with no end in sight.
Other cars experience the occasional production hiatus, such the Chevrolet Camaro, only to return redesigned and re-released a few years later.
Still other cars go out of production for good. And for every Pinto or El Camino that was rightly mothballed due to performance woes or wretched aesthetics, dozens of once beloved cars have also been discontinued.
Here are 50 cars that aren’t being made anymore:
These warning signs should scream danger and prompt you to walk out of the dealership without that new car. USA TODAY
In the Netflix era, many Americans are managing their finances based on their monthly subscription payments, often with little regard to the total they’ll pay in the long run.
That paradigm benefits the automotive industry and the lenders that finance car loans, as auto sales remain near record levels.
The average price of vehicles hit an all-time high of more than $36,000 in 2018, according to Kelley Blue Book – and with interest rates rising, car shoppers are now borrowing more than ever and extending their loans to record lengths.
New-car buyers agreed to pay an average of $551 per month for 69 months in January, according to car-buying advice site Edmunds. That’s nearly 10 percent more per month than three years earlier.
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It’s a clear-cut sign of how Americans feel confident in a strong economy.
Car debt has risen 75 percent since the Great Recession in 2009, reaching an all-time high of $1.2 trillion, according to the U.S. Public Interest Research Group.
“Easy credit and longer repayment terms have coaxed many consumers into buying more car than they can really afford,” said Ed Mierzwinski, U.S. PIRG’s senior director for consumer programs, in an email. “It’s even worse for those who have been subjected to deceptive and predatory lending practices at auto dealers.”
Average annual interest rates jumped from 4.68 percent in January 2017 to 4.99 percent that same month in 2018 and then to a 10-year high of 6.19 percent in January 2019, according to Edmunds. With new-vehicle prices averaging nearly $37,000 in January, according to Kelley Blue Book, monthly payments are getting out of reach for many buyers.
Several automotive executives interviewed recently by USA TODAY said car buyers can afford it amid a strong job market and encouraging stock gains.
“The economy is still at a very strong level,” said Henio Arcangeli, Jr., a leading executive in Honda’s U.S. division. “Although interest rates are coming up, which obviously can increase the purchase cost of the vehicle, on a historic basis they’re still at a very low level.”
That’s true. Auto interest rates on 4-year loans were never this low in the 1990s, for example, when they ranged between about 7 percent and 12 percent, according to the St. Louis Fed.
More people are 60 days behind on their car loans, Experian Automotive says More people are falling at least two months behind in making payments on their auto loan, a new report showed Tuesday. USA TODAY
But car buyers could run into trouble if the economy takes a turn for the worse and their income drops, especially because they’re locking themselves into long-term loans.
Netlix subscriptions can be canceled. Car payments can’t – at least not without giving up the vehicle. About 83 percent of Americans rely on their own car or someone else’s to get to work every day, according to an August 2018 poll by research firm Gallup.
More than 7 million Americans are now at least three months delinquent on their auto loan payments, the benchmark for many lenders to trigger a repossession.
According to the Federal Reserve Bank of New York, the number of these troubled borrowers is a million more than in 2010, following the global financial crisis that led to a bailout for automakers and financiers.
Phaedra Wainaina, a new law school graduate in Michigan who recently lost her job as a legal researcher, was quickly overwhelmed by her bills, including a car loan.
“I had to make the decision between paying car notes and buying food,“ the 26-year-old single mom said. She defaulted on her 2010 Chevrolet Equinox loan and the SUV was repossessed. “I am considered someone who has higher education and still got behind.”
Deals dry up
One reason the tab is getting more expensive is because deals are harder to find. Zero-percent interest rate offers, which were common following the Great Recession, hit a 13-year low in January, according to Edmunds.
One big reason is the Federal Reserve’s interest-rate hikes, which are aimed at curbing inflation in a strong economy. But the impact on consumers is higher monthly payments.
“The biggest surprise for me is how quickly we’ve seen interest rates go up above 6 percent,” Edmunds analyst Jessica Caldwell said, referring to auto loans. “People were used to low interest rates, and that’s no longer the case. That is kind of frightening for a lot of people.”
One big driver of the bulkier loans is bulkier vehicles, said Melinda Zabritski, senior director of automotive financial solutions for Experian Automotive.
A decade ago, the best-selling segment of vehicles was affordable small cars, like the Ford Focus sedan, she said. Today, it’s entry-level crossovers like the Toyota RAV4 and Ford Escape, which carry starting prices of several thousand more dollars.
“Fundamentally consumers have changed what they’re buying,” Zabritski said. “That’s part of where we’re seeing these rising prices.”
They’ve changed so much that the Focus, in fact, is gone. Ford is discontinuing the car, along with the Fusion and Fiesta sedans. And General Motors is killing the Chevrolet Cruze, a Focus competitor, along with several other car models.
That’s because rising interest rates simply haven’t stopped people from borrowing more to fuel their thirst for bigger and bigger vehicles in the SUV boom, which has depressed sales of cheaper and smaller passenger cars.
The average new-car buyer borrowed $31,707 in January, marking an all-time high for the month, according to Edmunds.
And the most common loan term is now 72 months, according to Experian.
The good news is the average consumer has “a very healthy balance sheet” right now, said Lakhbir Lamba, executive vice president of retail lending at PNC.
But Lamba noted that while PNC doesn’t offer loans beyond 72 months, many of the bank’s competitors are offering 84-month loans or even longer in some cases.
“There’s been a lot of debate over, is there stress … in that asset class, and I’ll tell you, a lot of it depends upon the financial institution and the type of consumer they’re lending money to,” Lamba said. “We’ve seen some stress but nothing that would concern us.”
How to avoid paying too much
Advisers say car buyers should consider the total amount they’re paying over time. But many people think more about whether they can handle the monthly payment.
At January’s rates, a 60-month loan on the average amount borrowed costs a total of $36,947 over time. Adding just 12 months to the loan increases the cost of the vehicle by $1,092.
“It feels like everything is advertised to us at a monthly rate,” Caldwell said. “That’s the way we’ve been conditioned now.”
Another tip: If you can’t afford a midsize SUV, for example, consider a midsize car. The price difference between the average midsize SUV and the average midsize car in January was $38,744 to $25,930, according to Kelley Blue Book.
Contributing: Detroit Free Press reporter Frank Witsil
Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.
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5 cars involved in northwest Houston crash, alcohol may be factor, sheriff says - KPRC Click2Houston
HOUSTON – Up to five cars may be involved in an “extensive” crash Saturday in northwest Houston, Harris County Sheriff Ed Gonzalez said.
The suspected at-fault driver in the crash attempted to leave the scene but was apprehended, Gonzalez said. Alcohol may have played a role in the crash, he said.
The suspected at-fault driver was traveling at a high-rate of speed at the time of the crash, causing four people to be transported to hospitals, the sheriff said.
Gonzalez said a female victim was said to be in critical condition.
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