"Created in the spirit of subversion by an anonymous developer calling himself Satoshi Nakamoto, Bitcoin is an electronic cash system based on an open source cryptographic protocol, with no central authority. Dismissed by some economists as a craze akin to the Dutch tulip bubble of the 1600s, Bitcoin is part of a gradual, technological shift in the way we think about money, whether we like it or not." Continue reading →
"Rogers had a few tips for investors. 'I’m wildly optimistic about agriculture,' he explained. 'It’s going to be one of the most exciting economic sectors in the world in the next 20 or 30 years. Prices have been so low… the sugar price has been down 75% since 1974.' He noted the longtime lows signaled good long-term buying opportunities. Rogers has shifted his currency strategy, now believing that 'currency turmoil' around the world will lead investors to flee to the relative security of dollars. 'To my astonishment, I’m optimistic about the U.S. dollar, which I’ve been terribly pessimistic about for years.'" Continue reading →
"Rogers had a few tips for investors. 'I’m wildly optimistic about agriculture,' he explained. 'It’s going to be one of the most exciting economic sectors in the world in the next 20 or 30 years. Prices have been so low… the sugar price has been down 75% since 1974.' He noted the longtime lows signaled good long-term buying opportunities. Rogers has shifted his currency strategy, now believing that 'currency turmoil' around the world will lead investors to flee to the relative security of dollars. 'To my astonishment, I’m optimistic about the U.S. dollar, which I’ve been terribly pessimistic about for years.'" Continue reading →
"A 12-year-old girl in the southern French city of Bordeaux has been caught by police after using stolen cheques to buy 2,600 euros ($3,440) worth of candies and pastries. Local police said Thursday that the girl had stolen a chequebook in March from a neighbour and used it over several months to buy the sweets from local bakeries. Her criminal sweet tooth was uncovered when a local bakery tried to deposit 23 of the cheques and they bounced. She was quickly apprehended, questioned by police and released after her parents agreed to pay the bakery back." Continue reading →
"Russian Dmitriy Smilianets, 29, is accused of selling the stolen data and distributing the profits. Prosecutors said he charged $10 for U.S. cards, $15 for ones from Canada and $50 for European cards, which are more expensive because they have computer chips that make them more secure. The five concealed their efforts by disabling anti-virus software on victims computers and storing data on multiple hacking platforms, prosecutors said. They sold the payment card numbers to resellers, who then sold them on online forums or to 'cashers' who encode the numbers onto blank plastic cards." Continue reading →
"Sen. John McCain has a wish for any exotic dancers who might feel the pinch from legislation he’s backing that would do away with the dollar bill and replace it with a dollar coin: Shake what your momma gave you and make more moolah. The Arizona Republican joined Sens. Tom Harkin (D-Iowa), Tom Coburn (R-Okla.), Mike Enzi (R-Wyo.) and Mark Udall (D-Colo.) in introducing the COINS Act last month. Advocates for the measure contend that saying sayonara to George Washingtons in favor of coins would save the government billions of dollars." Continue reading →
"A stripper just won a lawsuit against Nebraska police who confiscated over $1,000,000 in $10,000 bundles tied with hair ties after a routine traffic stop. Tara Mishra, 33, had stripped for 15 years and managed to save $1,074,000. So she gave the cash to friends to open a New Jersey nightclub. But when those friends were pulled over in Nebraska, the cops suspected the money was tied to drugs and confiscated all the cash. This week, a judge ruled that since the police failed to find evidence of drug activity, and since a canine search revealed only trace amounts of illegal drugs on the money, the cash had to be returned." Continue reading →
"The past six months may one day prove to be among the most important in bitcoin’s history. As global events sparked increasing need for frictionless wealth transfers, bitcoin’s popularity ballooned and ignited a conversation that will likely continue to flourish in the years to come. Growth in bitcoin’s value was outpaced only by the incredible interest from entrepreneurs, investors and the press. In this 27-page report we cover the major events from the first half of 2013 and what to look out for in the months ahead." Continue reading →
"Dot-com pioneers and fresh-faced 20-somethings alike are founding companies to help transact the virtual currency. Are those chasing Bitcoin headed for a gold rush, or fool's gold? Nick Holland, a Javelin Strategy analyst in Boston, is among those who believe math-based currencies like Bitcoin, which enable transactions from one user to another without official oversight or high fees, could upset the centuries-old tradition of paper money -- much as user-generated Wikipedia all but replaced the venerable Encyclopaedia Britannica." Continue reading →
"Without a formal banking sector, millions of Somalis rely on money sent from abroad. Underground agents could potentially fill the void. Alternatively, migrant workers could simply transfer new cryptographic commodities like bitcoin, which are not against the law. Also included in the countries put on notice by Barclays are Nigeria, Ghana, India, and Bangladesh with the resulting impact certain to be felt by Somalia's neighbors, Kenya and Ethiopia. The wholesale closure of accounts parallels the situation in Minnesota last year when a local bank, citing the risk of strict penalties, ceased transfers to Somalia for migrants wanting to send money home." Continue reading →