money

Bill Bonner: America’s faith-based economy

"Did Mary really ascend to Heaven on this day? Was she really a virgin? Did she really give birth to the son of God? You need faith to believe such things. Likewise, you need faith to believe that a piece of green paper is ‘money’. You are also supposed to believe that its managers will make sure this ‘money’ holds its purchasing power even as they do their damnedest to undermine it. But to believe that you need more than faith. You need a full frontal lobotomy." Continue reading →

Continue ReadingBill Bonner: America’s faith-based economy

Bitcoin gets the FBI, Homeland Security treatment

"'The Committee directs the FBI, in consultation with the Department and other Federal partners, to provide a briefing no later 120 days after the enactment of this Act on the nature and scale of the risk posed by such ersatz currency, both in financing illegal enterprises and in undermining financial institutions,' said the bill, which was posted on the Committee's website, and reported Tuesday by several industry blogs. Jon Matonis, executive director of the Bitcoin Foundation, told CNBC that the wording of the bill is the type that encourages innovative startups to seek out more acceptable international jurisdictions." Continue reading →

Continue ReadingBitcoin gets the FBI, Homeland Security treatment

9 things you should know about Bitcoins

"There are a number of places where you can spend Bitcoins. If you're a user of Wordpress or popular websites like Reddit, 4Chan, The Pirate Bay, EZTV and The Internet Archive, you can use Bitcoins to make donations. If you're into online storage, you can upgrade the 50GB free storage that Kim Dotcom's Mega.co.nz offers with Bitcoins. If you like trying your luck, you can try Bitcoin gambling at places like www.satoshibet.com and www.bc-casino. com. And just a little bit of digging will even throw up shopping websites like www.somethinggeeky.com that accept Bitcoin payments." Continue reading →

Continue Reading9 things you should know about Bitcoins

15 reasons why Bitcoins are better than gold

"Technology is literally at the point where it is disrupting almost everything and this week has been a prime example of this trend. On the one hand Google co-founder Sergey Brin was revealed as the investor behind growing synthetic meat in a lab in order to disrupt the cattle business and Elon Musk proved he can disrupt the auto market with his successful launch of Tesla Motors and the recent public acceptance of his company’s vehicles which surpassed analyst estimates. Can you disrupt a commodity though? After some consideration I would assert you can and this post will explore the top reasons why Bitcoins are better than gold." Continue reading →

Continue Reading15 reasons why Bitcoins are better than gold

Reserve Bank of India won’t regulate virtual currency Bitcoin, yet

"India's central bank is 'watching' Bitcoin, the virtual currency that is gaining popularity among Net users, but has no intention of regulating it right now. The Reserve Bank of India, which has its hands full trying to arrest the slump in the value of the rupee, will first seek to understand Bitcoins before seeking to bring it under its purview. 'As of now we are watching and learning about the developments in Bitcoins but are not regulating it,' an RBI spokeswoman wrote in an e-mailed response. In a note published in June, the central bank acknowledged that virtual currencies 'pose challenges in the form of regulatory, legal and operational risks.'" Continue reading →

Continue ReadingReserve Bank of India won’t regulate virtual currency Bitcoin, yet

Bitcoin Comes Under Full Scale Attack by Regulators

"Cryptocurrencies are threatening because no central entity can fully control them and they also represent a nearly free and anonymous payment application. It's an algorithm that has the potential to make central banks, commercial banks, private banks, and the tax collectors obsolete. In other words, cryptocoins may be epoch changing for society. In the same way the Internet killed publishing or how VoIP killed long distance telephone carriers, cryptocoins may in fact kill debt-based money and brick-and-mortar banking. The banking cartel along with the government are scrambling to protect their territory and regulate Bitcoin." Continue reading →

Continue ReadingBitcoin Comes Under Full Scale Attack by Regulators

The Bitcoin crackdown

"Bitcoin is a virtual currency getting a lot of attention by the real world. Coinsetter is a company dedicated to making Bitcoin safe to use. Jaron Lukasiewicz, Coinsetter CEO, shares what the industry has to say. And Benjamin Lawsky, superintendent of NY Department of Financial Services, shares the regulators' side of the story." Continue reading →

Continue ReadingThe Bitcoin crackdown

Bitcoin Architect: Everything You Need To Know About Bitcoin

"Much has been written over the past year about the new digital currency Bitcoin -- especially after its price skyrocketed 15x in just a few months, followed by a blow-off correction of over 50%. But what exactly is it? How does it work? How secure is it? What are its advantages (and disadvantages) to sovereign fiat currencies? To precious metals? In this week's podcast, Chris talks with Gavin Andresen, chief scientist of the Bitcoin Foundation and lead developer for its digital currency project." Continue reading →

Continue ReadingBitcoin Architect: Everything You Need To Know About Bitcoin