Bitcoin

Bitcoin Not Bombs

"In the beginning I pretty much only used it to buy baklava. Now I’m buying gold and silver bullion with Bitcoin, and accepting it as payment for the various things that I sell. So, I have a pretty good sense of how the system works and I’m just starting to really get the economic ramifications of a digital peer-to-peer currency. I theoretically understand the impact it could have politically, at least domestically, but I’m just starting to get the first inkling of what the international political ramifications of Bitcoin might be. This rabbit hole begins with US sanctions against Iran." Continue reading →

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Bitcoin Not Bombs

"In the beginning I pretty much only used it to buy baklava. Now I’m buying gold and silver bullion with Bitcoin, and accepting it as payment for the various things that I sell. So, I have a pretty good sense of how the system works and I’m just starting to really get the economic ramifications of a digital peer-to-peer currency. I theoretically understand the impact it could have politically, at least domestically, but I’m just starting to get the first inkling of what the international political ramifications of Bitcoin might be. This rabbit hole begins with US sanctions against Iran." Continue reading →

Continue ReadingBitcoin Not Bombs

Bitcoin going mainstream? Exchange approved to operate as a bank

"Bitcoin Central, a Bitcoin exchange that is popular in the eurozone, says it has secured approval from regulators to operate as a bank under French law. Users will be able to deposit funds in either euros or bitcoins, and to easily convert between the two. Euro-denominated funds will be insured by the Garantie des dépôts, the French equivalent to the US FDIC. The accounts will also be integrated with the French banking system, so users can have their paychecks automatically deposited into their accounts and converted to bitcoins." Continue reading →

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Dollar-Less Iranians Discover Virtual Currency

"Under sanctions imposed by the U.S. and its allies, dollars are hard to come by in Iran. The rial fell from 20,160 against the greenback on the street market in August to 36,500 rials to the dollar in October. It’s settled, for now, around 27,000. The central bank’s fixed official rate is 12,260. Yet there’s one currency in Iran that has kept its value and can be used to purchase goods from abroad: bitcoins, the online-only currency." Continue reading →

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WordPress.com criticizes PayPal, credit card firms for restrictions, now lets you pay with Bitcoin

"To justify the additional payment method, the company noted that PayPal alone blocks access from over 60 countries, and many credit card companies have similar restrictions, for political reasons, financial reasons, and/or due to higher fraud rates. If you’re already using Bitcoin, Automattic says you’ll find this payment method even easier than paying by credit card. You’ll see the amount due in BTC and the address of a wallet created just for your transaction. As soon as the company receives notification of the transaction, your purchase is complete." Continue reading →

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Berlin Becomes Latest ‘Bitcoin Hotspot’

"While Bitcoin’s traction has primarily occurred online through exchanges and with merchants who sell online, its use as a payment method for purchases at bricks-and-mortar retailers and for in-person trade is not found that widely just yet. There is progress though and it is occurring in geographic areas where clusters of Bitcoin enthusiasts exist. In these areas are the first real-world merchants that are finding commercial success from accepting the cryptocurrency. A growing cluster growing in Berlin is the latest (and potentially the largest) to form." Continue reading →

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Tenn. techie denies being hacker in Romney tax returns case

"A couple of weeks later, the Secret Service, acting on a search warrant, smashed through his front door and spent the next 18 hours pulling laptops, hard drives and all manner of digital storage devices from his Franklin home. Now, almost two months since his home was searched, Brown has not been charged with a crime. Brown said he could not explain why the Secret Service is targeting him, but he noted that in 2009 the same agency came to his house looking for evidence tying him to the alleged theft of thousands of Social Security numbers held by an insurance company. He was never charged." Continue reading →

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Bitcoin Venture Capitalist Roger Ver’s Journey to Anarchism

"In addition to computer parts, I, along with dozens of other resellers across the country, including Cabelas, were selling a product called a 'Pest Control Report 2000.' It was basically a firecracker used by farmers to scare deer and birds away from their corn fields. While everyone else, including the manufacturer, were simply asked to stop selling them I became the only person in the nation to be prosecuted. After my release from Lompoc Federal Penitentiary I had to deal with three years of lies, insults, threats, and general harassment by the US Federal probation department. I moved to Japan on the very day my probation finished." Continue reading →

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Department Of Homeland Security To Scan Payment Cards At Borders And Airports

"Travelers leaving or entering the United States have long had to declare aggregated cash and other monetary instruments exceeding $10,000. Now, under a proposed amendment to the Bank Secrecy Act, FinCEN will also require travelers to declare the value of prepaid cards that they are carrying, known now as 'tangible prepaid access devices.' Enforceability falls to the Department of Homeland Security, which is already developing advanced handheld card readers that can ascertain whether a traveler is carrying a credit card, debit card, or prepaid card." Continue reading →

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The European Central Bank on Bitcoins

"I have finally had a chance to read in full the unsigned report by the European Central Bank that I mentioned earlier this week. The report is quite impressive. The report clearly states the advantages of Bitcoins versus current credit/debit cards. The anonymity feature of Bitcoin is the feature that I believe could be the driving feature behind the potential success of Bitcoin. As world governments attempt to get in the middle of more and more private transactions, more and more buyers and sellers will seek anonymity." Continue reading →

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