The Freedom Watch

Rob McEwen Interview: On Gold Prices, Gold Miners And Bitcoin

"I don’t see why Bitcoin can’t also grow and become another viable currency, an internet based currency. If enough people accept it, it will be used. It seems to have momentum behind it and it’s intriguing how it’s truly separate from any country or central banks’ manipulation and control. There will be growing pains, like the guy who lost money out of his electronic wallet because he left his computer on all night. Also, Bitcoin will spawn competitors, alternative digital currencies. I think it’s a mistake to write off this currency as a bubble or fad. Will it threaten gold? I don’t think so. I think the two will grow in tandem as alternative currencies to fiat currencies." Continue reading →

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Bitcoin wallet service to issue refunds after users’ funds stolen

"A widely used Bitcoin wallet service plans to issue refunds to people who saw their bitcoins stolen as a result of a weakness in its application. Blockchain.info, which has a Web-based service called My Wallet, has also upgraded its application after finding a vulnerability similar to one discovered earlier this month in some Bitcoin wallet programs running on the Android mobile OS. Interest in Bitcoin has surged since its debut just four years ago. The system offers a low-cost way to transmit virtual currency over the Internet, and many companies and entrepreneurs are working to solve concerns around how to safeguard bitcoins from hackers." Continue reading →

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Buttercoin Uses Bitcoin To Attack The $500B-A-Year Remittances Economy

"The World Bank estimates that migrants will send about $515 billion to relatives in developing countries by 2015, which is about 10 times the size of the U.S.’s budget for foreign aid. The old stand-bys like Western Union can charge around 10 percent for transactions in the market, an amount that Buttercoin co-founders Cedric Dahl and Bennett Hoffman find obscene. Buttercoin plans to open in India within the next three months and then to operate in six countries in nine months’ time. When they enter a market, they pair with local money transfer businesses to have legal compliance in the country." Continue reading →

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PayPal unfreezes $45,000 cancer donation after media investigation

"A $45,000 donation for an Auckland man's cancer treatment has finally been released by electronic payment firm PayPal. The company, which processes online transactions, put a hold on the donation after it was picked up by its money-laundering filters. The money was meant to fund private chemotherapy treatment using an expensive new drug for Justin Crockett, who has an aggressive brain tumour. Mrs Crockett rang PayPal without success and said she felt 'helpless' and 'stressed out'. 'I just think it's a bit appalling that they have that power to freeze it. It's not their money. People shouldn't be put through this stress.'" Continue reading →

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Five surprising facts about Bitcoin

"This has been a big year for Bitcoin. At the start of the year, interest in the virtual currency was largely limited to technology buffs. Then the price rose more than 10-fold, prompting regulators, investors and the general public to take a closer look. To help policymakers get up to speed, the Mercatus Center, a libertarian think tank, has published a new primer on the technical, economic and legal issues raised by the currency. Here are five of the most interesting observations that the authors, Jerry Brito and Andrea Castillo, make about Bitcoin." Continue reading →

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Bitcoin takes off — on the ground in Berlin

"Across the Spree River on Berlin’s north side, Aaron Koenig dons a bowler cap as he welcomes guests to an industrial co-working space for the second Berlin Bitcoin Exchange (BXB) — a monthly event he founded to allow buyers and sellers to meet face to face and exchange Bitcoins for euros, dollars or otherwise. Both June and July’s exchanges drew a fluid crowd of about 50 people, with plans to expand the event into a maker’s market where visitors can spend their Bitcoins right after purchasing them. Koenig said growing problems with the euro mean the benefits of Bitcoin are beginning to outweigh the risks." Continue reading →

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Bitcoin: Understated benefits and overstated risks

"Built within the Bitcoin protocol are capabilities to develop other financial innovations, like notary services, encrypted communications, and 'smart' collateral contracts. Developers and businesspeople are still learning the myriad applications for this innovative technology. Just as the public debate understates some of the benefits of Bitcoin, it also overstates some of the concerns. The hypothetical crimes that Bitcoin may enable are traditionally committed with cash, but policymakers would never dream of criminalizing cash. Instead, they regulate the use of cash. Regulations targeting Bitcoin could adopt this time-tested approach." Continue reading →

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Bitcoin is a Startup

"Bitcoin is far too difficult to safely buy, sell, spend, and store. We need to build easy to use, robust infrastructure before Bitcoin can be widely adopted. The best venture capitalists and angel investors leverage their experience and network to help their portfolio companies succeed. If you’re an accredited investor looking to invest in Bitcoin companies or an entrepreneur looking to start a Bitcoin company, AngelList and BitAngels are two ways to get connected to the right people. Numerous angels, VCs, and accelerator programs have also expressed interest in funding Bitcoin companies. Now go forth and build." Continue reading →

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Nepal’s tourism bureau promises to keep ‘tighter control’ of Mount Everest climbs

"Nepal’s tourism ministry said Friday it plans to exercise tighter control of climbers scaling Mount Everest to make sure they keep the world’s highest peak clean and to prevent rows. The ministry will set up a 10-member team made up of government officials, veteran Nepalese climbers and security officers that will start work when the next climbing season opens in the spring. The team will ensure that climbers do not leave trash on the mountain, Purna Chandra Bhattarai, of the tourism ministry told AFP. Nepal has already made it mandatory for each expedition team to hire liaison officers from the ministry to ensure better relations with locals." Continue reading →

Continue ReadingNepal’s tourism bureau promises to keep ‘tighter control’ of Mount Everest climbs