Bitcoin

Don’t Let Bitcoin Morph into Govcoin

"Recently, Govcoin has become a metaphor for alterations to the core bitcoin protocol that reduce its fungibility, irreversibility or privacy to conform to certain government specifications for an 'appropriate' digital currency. The Consumer Financial Protection Bureau has not yet confirmed to what extent the implementation of Regulation E by money transmitters will be applicable to licensed virtual currency providers. Also known as the Remittance Transfer Rule, compliance will be required by Oct. 28. It requires, among other items, prepayment disclosure, transaction receipts, and transaction cancellation within prescribed time limits." Continue reading →

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Bitcoin activists propose hard fork to keep it anonymous and regulation-free

"The authors are particularly concerned about the Bitcoin Payment Messages system scheduled for release along with version 0.9 of the cryptocurrency. That mechanism would allow merchants to request payment from customers, rather than simply providing them with an address to send payments to. Payments would be completed using digital certificates owned by the merchants, and would contain customer and merchant metadata linked to specific transactions. [The paper] worries that Bitcoin Payment Messages will make it possible – and therefore mandatory – to issue receipts, playing further into the hands of the regulators." Continue reading →

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Independent journalist Ben Swann now accepts Bitcoin for episode funding

"For two and half years I have heard day after day about media blackout, about corporations having too much control over media, about the need for honesty and truth. I have heard about how the American public is asleep and there is no one in MSM speaking about the issues of our disappearing liberties, no one to push back against the left/right paradigm. What I have done is stepped out in response to what millions of Americans from the Tea Party and Occupy movements, from independents to the fast growing Liberty movement have been crying out for. The opportunity is here… not MY opportunity, YOUR opportunity." Continue reading →

Continue ReadingIndependent journalist Ben Swann now accepts Bitcoin for episode funding

Bitcoin Mining Unit Sells on eBay for US$10,866.88

"Less than two hours ago, the auction closed for this 60 GH/s Single SC from Butterfly Labs. These supercomputers normally sell for $2,499. Last year, they were selling for US$1,299. Butterfly Labs started taking pre-orders for these units on June 23rd, 2012, with an expected ship date in October, 2012. Production finally began in May, 2013. It took them until Friday, July 26th (65 days of production) to start shipping orders placed after June 23rd, and there were still two June 23rd orders to be shipped." Continue reading →

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In Bitcoin we trust: The Berlin district where virtual currency is as easy as cash

"Start-ups like Berlin-based 9flats.com, a 'share economy' platform, say that the Bitcoin concept is working in their favor. 'The main advantage for our business is that we do not lose money on transaction fees because with Bitcoin there are none,' said Alexander Lossenko, lead developer at 9flats.com. To avoid the risk of devaluation and strong fluctuation in Bitcoin prices, companies like 9flats.com often use services that convert bitcoins into euro or dollars instantly. 'It also opens new markets for us. In Russia, for example, PayPal does not exist, so Bitcoin offers another alternative for payments,' Lossenko added." Continue reading →

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Cyprus Depositor Bail-In Set At 47.5%

"The government of Cyprus, the Bank of Cyprus and international lenders have come to an agreement that will recapitalize the bank and allow it to remain solvent: all depositors at the bank will have 47.5% of all funds above the deposit insurance threshold of $100,000 seized to pay for the bank’s bad debts. Since the original depositor bail-in plan was announced in March, the idea has been very warmly received by governments around the world. The governments of Japan, Canada, the European Union, Switzerland, Australia and New Zealand have all endorsed or taken preliminary steps toward potentially implementing similar plans if necessary in their own countries." Continue reading →

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Bitcoin trading suspended in Thailand due to central bank advisement

"Senior members of the Foreign Exchange Administration and Policy Department advised that due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand: Buying Bitcoins; Selling Bitcoins; Buying any goods or services in exchange for Bitcoins; Selling any goods or services for Bitcoins; Sending Bitcoins to anyone located outside of Thailand; Receiving Bitcoins from anyone located outside of Thailand." Continue reading →

Continue ReadingBitcoin trading suspended in Thailand due to central bank advisement

Bitcoin trading suspended in Thailand due to central bank advisement

"Senior members of the Foreign Exchange Administration and Policy Department advised that due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand: Buying Bitcoins; Selling Bitcoins; Buying any goods or services in exchange for Bitcoins; Selling any goods or services for Bitcoins; Sending Bitcoins to anyone located outside of Thailand; Receiving Bitcoins from anyone located outside of Thailand." Continue reading →

Continue ReadingBitcoin trading suspended in Thailand due to central bank advisement