NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Amagi Metals to No Longer Accept US Dollars After 2016

newsbtc
newsbtc
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

In a very interesting, yet unusual announcement today, precious metal vendor Amagi Metals announced that once the year 2016 is over, they will focus their attention away from accepting US dollars as a means of payment.

The announcement, made on the company’s website recently, cites decreased confidence in the dollar over the years as the main reason for their movement away from traditional currency:

[blockquote style=”2″]Since the dollar was decoupled from gold in 1971, it has lost 97% of its value compared to the yellow metal and 83% of its domestic purchasing power, and the trend shows no signs of stopping. Both investors and foreign governments have begun to lose confidence in the dollar’s future…and so has Amagi Metals. Thus, Amagi has planned that by the end of 2016, the company will no longer accept US dollars or other “fiat” currencies.[/blockquote]

Instead, the company is turning to cryptocurrencies like bitcoin in order to conduct trades. Cryptocurrency, according to Amagi CEO Stephen Macaskill, fits the definition of what he considers to be “sound money” — something the company has advocated since their founding in 2010.

“We want to be a leader in the sound money movement,” he said in a statement published on the company’s website. “With the adoption of cryptocurrencies increasing every day, their viability is virtually assured. History shows that paper currency, backed by nothing of value, will ultimately fail. It’s only a matter of time until no one will be accepting the dollar. By trading exclusively in cryptocurrencies, we’ll still be in business when that time comes.”

Amagi has been accepting cryptocurrency as a means of payment since 2012, and presently, bitcoin accounts for about 40 percent of sales.

But if you thought Amagi was planning to reject customers offering to pay in fiat, you’re mistaken.

“We will offer customers the ability to convert their fiat money to cryptocurrency on our website,” Macaskill added. “We will offer customers the ability to convert their fiat money to cryptocurrency on our website. They can then use it for purchases from us. Of course, that will be at the exchange rate at that time, whatever it may be.”

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 3

  1. btcfuture says:
    11 years ago

    interesting! hopefully others follow suit

    Reply
  2. GetGwap247 says:
    11 years ago

    would like to know what bitcoin to invest in….

    Reply
    • Enright84 says:
      11 years ago

      Just BTC

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 3

  1. btcfuture says:
    11 years ago

    interesting! hopefully others follow suit

    Reply
  2. GetGwap247 says:
    11 years ago

    would like to know what bitcoin to invest in….

    Reply
    • Enright84 says:
      11 years ago

      Just BTC

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

bitcoin

Bitcoin Sees Long-Term Holders Sell As Short-Term Buyers Step In – Sign Of Rally Exhaustion?

As Bitcoin (BTC) continues to set new all-time highs (ATH) – reaching $123,218 on Binance on July 13 – on-chain...

Ash Tiwari 4 hours ago
Ethereum news

Tom Lee Predicts $30,000 Per Ethereum As Treasury Frenzy Begins

Tom Lee devoted a six-post thread on X yesterday to a single proposition: if companies treat Ethereum (ETH) the way...

Jake Simmons 6 hours ago
Coinbase Premium Signals Aggressive Ethereum Accumulation: Institutional Demand Accelerates

Coinbase Premium Signals Aggressive Ethereum Accumulation: Institutional Demand Accelerates

Ethereum has surged more than 70% since mid-June, marking one of its most impressive rallies of the year. The move...

Sebastian Villafuerte 9 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Climbs, But NVT Indicator Sends a Surprising Signal

Bitcoin Climbs, But NVT Indicator Sends a Surprising Signal

Samuel Edyme 28 minutes ago
Ethereum

This Ethereum Metric Called The Bottom Ahead Of Rally, Says Analytics Firm

Keshav Verma 1 hour ago
Ethereum's Rally Isn't What It Seems — Here's What's Really Driving It

Ethereum’s Rally Isn’t What It Seems — Here’s What’s Really Driving It

Samuel Edyme 3 hours ago

Premium Sponsors

Press Releases

  • 新高値更新で17%上昇のXRP、しかし今注目すべきico仮想通貨は別にあると専門家は指摘

    ...

    18 minutes ago
  • ミームコインの勢い加速 — 多くの投資家が注目する新たな仮想通貨おすすめプロジェクト

    ミームコインの勢い加速 —...

    18 minutes ago
  • ミームコイン市場が820億ドルに到達、GENIUS法案が議会を通過|新たな「スナイピングシーズン」到来とICO資金調達突破

    ...

    18 minutes ago
  • 米下院がGenius法案を可決、暗号資産市場は4兆ドル間近に — 次なる仮想通貨1000倍の期待銘柄とは

    ...

    7 hours ago
  • Top 5 Cloud Mining Sites in 2025: Best Crypto Platforms for...

    10 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.