Yearly Archives: 2013

FATCA: a Tool of the Electronic Surveillance State

"If FATCA’s sole purpose were to 'recover' tax revenues from assets squirreled away offshore by American 'fat cats,' it seems odd that it targets only individuals and specifically exempts reporting on accounts held by U.S. corporations. On the other hand, targeting individuals makes a lot of sense if FATCA’s purpose is directed towards something else: adding to U.S. government agencies’ global electronic 'map' of personal information. It should be further understood that any data transmitted by foreign financial institutions will not be confined to the IRS but will be handed over ('upon request,' of course) to other 'three-letter' agencies of the U.S. government." Continue reading →

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Alaskan border town may use Canadian dollars, but they’re ‘100% American’

"Hyder is a good example of the close connection between our two countries and the tribal nature of national identity; of how a line on a map, drawn forever ago, and a Canadian border crossing staffed by some presumably bored Canadian Customs officers (there is no U.S. Customs in Hyder) can seem as wide as the Grand Canyon — even when the metaphorical price of admission is being counted in loonies." Continue reading →

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Senators want to ban Russian Banks from the United States over Syria

"In a joint letter, the senators urged Secretary Lew to enforce sanctions that prevent Russian banks that have propped up the Syrian government from doing business in the United States. 'Russian bank support violates international sanctions by enabling Syria to pay for imports and receive funds for exports. This assistance eases much of the financial burden on the Assad regime, allowing it to continue military purchases and pay the soldiers that sustain the war in Syria,' the senators wrote. 'It is now more critical than ever that you swiftly designate those financial institutions that have profited from violating sanctions to prop up the Syrian regime.'" Continue reading →

Continue ReadingSenators want to ban Russian Banks from the United States over Syria

Two Guys Just Started A Site That’s Like A Bitcoin-Only Amazon

"One of the most common complaints about Bitcoin, the encrypted, digital currency that isn't controlled by any bank or country, is that you can't use it to buy anything practical. Alpaca wool socks? Come on, now. Entrepreneurs Michal Handerhan and Tim Sidie have startedBitcoinShop.us in order to solve this problem. Their site is probably best described as 'Amazon, but with Bitcoin.' There's 55,000 items for sale across all categories – books, electronics, sporting goods, even toys. It's all available here for purchase, via Bitcoin." Continue reading →

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A Day in the Life of Cameron and Tyler Winklevoss

"The twins made headlines in July when they announced the creation of the Winklevoss Bitcoin Trust, which would operate an exchange-traded fund dealing only in the virtual currency of bitcoins. Putting their profile and wealth behind bitcoin represents a big risk. 'You have to be willing to gamble a bit,' says Tyler. 'Entrepreneurs are a special breed. They make their own fate, but there's no safety net if it doesn't work out.' Entrepreneurship is in their blood: Their father, born to a family of Pennsylvanian businessmen and coal miners, created an actuarial software company that made him a multimillionaire. The brothers followed a similar path, creating Winklevoss Capital." Continue reading →

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Coming Soon to America: Bitcoin ATMs

"At least two firms have plans to ship out Bitcoin ATMs to American cities in the coming months. Robocoin, the Las Vegas-based firm rolling out the world’s first Bitcoin ATMs in Canada this fall, plans to ship 12 to 15 of the units by the end of the year. So what, you may wonder, is the point of an ATM for a digital currency? Think of it more like a vending machine or currency exchange counter: Rather than just offering withdrawals or deposits, the Bitcoin ATM allows a user to buy Bitcoins in exchange for cash. The machines also offer some real-world convenience—like traditional ATMs, you can take dollars from the ATM by trading in your Bitcoins." Continue reading →

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Michigan Small-Town Mayor Accepts Bitcoins For Re-Election Campaign

"We welcome Bitcoin donations. We support currency freedom! However, in order to promote the use of Bitcoins for these purposes, our campaign must comply with federal and state election/campaign finance laws. In the spirit of transparency and legality, we require the following information from all donors, whether BTC or USD. We really appreciate your support! For contributions of more than $100 USD (cumulatively) we also need your employer, city of employment, and job title. No one person can donate over $500 USD (cumulatively)." Continue reading →

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Argentina arrests teen hacker who netted $50,000 a month

"Police in Argentina have arrested a 19-year-old man accused of heading a gang of hackers who targeted international money transfer and gambling websites. Dubbed 'the superhacker', the teenager was making $50,000 (£31,500) a month, working from his bedroom in Buenos Aires, police say. The arrest operation shut down the power to the entire neighbourhood to prevent the deletion of sensitive data. Police say it took them a year to close in on the teenager. The young man lived with his father, a computer expert, in Buenos Aires. In the teenager's room, officials found high-capacity computers." Continue reading →

Continue ReadingArgentina arrests teen hacker who netted $50,000 a month

Most Secure Bitcoin Wallet Armory Raises $600k Led by Trace Mayer

"Insecure Bitcoin wallets and unscrupulous providers have previously resulted in the losses of significant funds for Bitcoin users. In the two full years Armory has been in use, Armory has had no reports of any lost or stolen Bitcoins among users who have used Armory’s printed paper backup feature. New features will include support for hardware wallets and multi-signature transactions. This will open the door for enterprise level Bitcoin security by requiring that at least two or more people or devices (depending on corporate policies) approve every transaction. The next version will include functionality to create fragmented backups that can be stored in multiple locations for increased physical security." Continue reading →

Continue ReadingMost Secure Bitcoin Wallet Armory Raises $600k Led by Trace Mayer