Network Archives

China’s Currency Could Appreciate 500% In Next Three Decades, Investor Jim Rogers Says

"Famed investor and co-founder of the Quantum Fund, Jim Rogers said in Shanghai that he expects renminbi, China’s currency, to appreciate 300, 400 or even 500 percent in the next 20 to 30 years, stunning and prompting a debate in the forex industry. Rogers also indicated that the yuan may replace the dollar one day, Daily Economic News, a Chinese financial and economic news portal, reported. 'If anyone wants to sell renminbi, I’d be willing to buy,' Rogers said. Compared to the yuan’s value in 2005, Rogers expects it to appreciate by as much as 500 percent in the future." Continue reading →

Continue ReadingChina’s Currency Could Appreciate 500% In Next Three Decades, Investor Jim Rogers Says

How China Spawned a Bitcoin Industry in Three Months (and Why it Might be Doomed)

"Techweb reports that China’s bitcoin scene now has everything from professional bitcoin investment services to customized bitcoin mining chip manufacturing. And indeed, wherever we looked, it seems services have sprung up, or grown significantly in popularity. For example, where the West has Mt. Gox, China now has a variety of its own platforms including btcchina, btctrade, FXBTC, and Bter (among others). And while some of those have been around for quite a while, their popularity over the past few months has skyrocketed. The big question mark surrounding all of this, of course, is what China’s government will ultimately say about the all-digital currency." Continue reading →

Continue ReadingHow China Spawned a Bitcoin Industry in Three Months (and Why it Might be Doomed)

U.S. bill would deny visas to known hackers

"A group of lawmakers proposed legislation Thursday that would deny US entry and freeze the assets of foreign nationals involved in hacking or cybercrimes targeting the United States. The Cyber Economic Espionage Accountability Act calls US authorities 'to bring more economic espionage criminal cases against offending foreign actors,' the lawmakers said in a statement. The bill would also ban foreigners participating in cyber crimes from getting visas to enter the United States. If they are US residents, their visa would be revoked and their financial assets frozen under the proposal." Continue reading →

Continue ReadingU.S. bill would deny visas to known hackers

Robert P. Murphy: The Economics of Bitcoin

"Some critics (who are often proponents of hard money such as gold) object that Bitcoin is in a perpetual 'bubble' because it has no 'intrinsic value.' Yet these critics often seem to overlook just how much the exchange value of gold and silver is (and was) due to their use as media of exchange. Thus, if Bitcoin is currently in a bubble, then, by the same token, gold bullion in the year 1900 (say) was also in a massive bubble because it was trading for a far higher exchange value than could be explained merely by its industrial and ornamental uses." Continue reading →

Continue ReadingRobert P. Murphy: The Economics of Bitcoin

Robert P. Murphy: The Economics of Bitcoin

"Some critics (who are often proponents of hard money such as gold) object that Bitcoin is in a perpetual 'bubble' because it has no 'intrinsic value.' Yet these critics often seem to overlook just how much the exchange value of gold and silver is (and was) due to their use as media of exchange. Thus, if Bitcoin is currently in a bubble, then, by the same token, gold bullion in the year 1900 (say) was also in a massive bubble because it was trading for a far higher exchange value than could be explained merely by its industrial and ornamental uses." Continue reading →

Continue ReadingRobert P. Murphy: The Economics of Bitcoin

Robert P. Murphy: The Economics of Bitcoin

"Some critics (who are often proponents of hard money such as gold) object that Bitcoin is in a perpetual 'bubble' because it has no 'intrinsic value.' Yet these critics often seem to overlook just how much the exchange value of gold and silver is (and was) due to their use as media of exchange. Thus, if Bitcoin is currently in a bubble, then, by the same token, gold bullion in the year 1900 (say) was also in a massive bubble because it was trading for a far higher exchange value than could be explained merely by its industrial and ornamental uses." Continue reading →

Continue ReadingRobert P. Murphy: The Economics of Bitcoin

Robert P. Murphy: The Economics of Bitcoin

"Some critics (who are often proponents of hard money such as gold) object that Bitcoin is in a perpetual 'bubble' because it has no 'intrinsic value.' Yet these critics often seem to overlook just how much the exchange value of gold and silver is (and was) due to their use as media of exchange. Thus, if Bitcoin is currently in a bubble, then, by the same token, gold bullion in the year 1900 (say) was also in a massive bubble because it was trading for a far higher exchange value than could be explained merely by its industrial and ornamental uses." Continue reading →

Continue ReadingRobert P. Murphy: The Economics of Bitcoin

Robert P. Murphy: The Economics of Bitcoin

"Some critics (who are often proponents of hard money such as gold) object that Bitcoin is in a perpetual 'bubble' because it has no 'intrinsic value.' Yet these critics often seem to overlook just how much the exchange value of gold and silver is (and was) due to their use as media of exchange. Thus, if Bitcoin is currently in a bubble, then, by the same token, gold bullion in the year 1900 (say) was also in a massive bubble because it was trading for a far higher exchange value than could be explained merely by its industrial and ornamental uses." Continue reading →

Continue ReadingRobert P. Murphy: The Economics of Bitcoin

Robert P. Murphy: The Economics of Bitcoin

"Some critics (who are often proponents of hard money such as gold) object that Bitcoin is in a perpetual 'bubble' because it has no 'intrinsic value.' Yet these critics often seem to overlook just how much the exchange value of gold and silver is (and was) due to their use as media of exchange. Thus, if Bitcoin is currently in a bubble, then, by the same token, gold bullion in the year 1900 (say) was also in a massive bubble because it was trading for a far higher exchange value than could be explained merely by its industrial and ornamental uses." Continue reading →

Continue ReadingRobert P. Murphy: The Economics of Bitcoin