money

Afghanistan’s first recorded bitcoin transaction?

"The sun beat down at a blistering 120 degrees in the Helmand desert. The air was dry and tense as the two bitcoin entrepreneurs, Adam Locklin and yours truly, shook hands and made a deal in bitcoin. A Partagas robusto cigar traded hands, I sent Adam 0.1 BTC, and so concluded what we believe to be Afghanistan’s first recorded bitcoin transaction. This simple trade comes with a few lessons if bitcoin is really going to work in Afghanistan and other remote parts of the developing world." Continue reading →

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Tax havens explained: How the rich hide money

"Recent leaks of secret banking information have helped authorities around the world crack down on tax cheats who go offshore, resulting in billions of dollars recovered for the public purse. Now, in one of the biggest ever leaks of financial data, the International Consortium of Investigative Journalists has released data on a whopping 120,000 secret offshore entities in 10 different jurisdictions. Read more about how unscrupulous investors hire high-priced lawyers and financial advisers to move money offshore in the interactive below. Select the blue button to make choices and move through each step." Continue reading →

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It’s a Sound-Money Alternative to the Dollar

"It should be no surprise to any student of economics that when government has a monopoly on money, it will be mismanaged. A better approach would be a free market in money: currency competition among entrepreneurs. Bitcoin is one of the opening salvos in this battle. In some respects it is very promising as an alternative currency and as a possible wholesale replacement for a national currency. In other respects it falls short. Bitcoin is a fiat currency that has achieved popularity and value without the mandate of a government legal tender law. On the contrary, the government strongly discourages bitcoin use and has used regulations to frustrate its adoption." Continue reading →

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The Mind-Boggling Implications of a Bitcoin Economy

"While much has been said and written about the nascent crypto-currency's underlying technology and recent volatility, one nagging question remains: what if Bitcoin emerges as a viable and sound currency, just as the world's central banks reduce their notes to confetti? If this simple question doesn't inspire chills, perhaps it should, given Bitcoin's potential to overwrite the matrix of the world's ailing currency system even faster than the internet went mainstream. This will be among the topics of discussion this October at an unusual gathering of libertarians, economists, and computer scientists in Atlanta for the first ever Crypto-Currency Conference." Continue reading →

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Barclays account shutdown raises Somali fears

"Barclays bank is closing about 100 UK accounts held by cash transfer businesses, over fears they are being used for money laundering. The businesses are vital for Somali expatriates sending remittances back home, where banking facilities have collapsed. Aid workers say the service is a 'lifeline' for 40% of the Somali population, who rely on the transfers. It is feared that the cash transfer business could now go underground. Barclays is the last major UK bank that still provides such money transfer services to Somalia, which has an estimated 1.5 million of its nationals living overseas." Continue reading →

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Jeffrey Tucker: Bitcoin Thwarts America’s Roman Decline

"As the dollar continues to shed its value, and to lose credibility as the world's reserve currency, countless people -- including governments, investors, and common citizens -- are looking to alternatives. These include gold and silver, which are time-honored as stores of value -- but there are other candidates as well. What are some of the alternatives to the fiat dollar? Is the dollar doomed? If it is, what will replace it? And why does government have to be involved in money at all? We'll discuss these questions with economist and historian Jeffrey Tucker, the executive editor of Laissez Faire Books and a Distinguished Fellow for the Foundation for Economic Education." Continue reading →

Continue ReadingJeffrey Tucker: Bitcoin Thwarts America’s Roman Decline

Tablet cash machines: The ATM of the future?

"As payment methods move digital, so cash machines will need to develop from the terminals that we have all become used to, experts say. The main challenge comes from the smartphone. Mobile banking allows customers to check balances, organise transfers, make swift payments between friends in restaurants or pay the local tradesman. The answer from the industry, it appears, is to make the cash machine more like a smartphone. That can have benefits for consumers too. Live link video screens will give them the opportunity to talk to customer services staff at any time of day, instead of just normal opening hours." Continue reading →

Continue ReadingTablet cash machines: The ATM of the future?

Tablet cash machines: The ATM of the future?

"As payment methods move digital, so cash machines will need to develop from the terminals that we have all become used to, experts say. The main challenge comes from the smartphone. Mobile banking allows customers to check balances, organise transfers, make swift payments between friends in restaurants or pay the local tradesman. The answer from the industry, it appears, is to make the cash machine more like a smartphone. That can have benefits for consumers too. Live link video screens will give them the opportunity to talk to customer services staff at any time of day, instead of just normal opening hours." Continue reading →

Continue ReadingTablet cash machines: The ATM of the future?

Bitcoin has arrived in Iran with a new website and a forum

"CoinAva is the name of the new platform that is bringing cryptocurrency to Iran! Besides trying to spread the word about Bitcoin in the country, this platform allows users to buy and sell virtual currency, via a counter party in Australia. From now on, people in Iran can buy and sell Bitcoins, as well as learn more about the cryptocurrency with the help of CoinAva’s team. And, besides the platform, there’s more news: Iran also has a new forum dedicated to cryptocurrency called Persian Bitcoin Talk, which you can visit here. Looks like Bitcoin is really building its way into the country!" Continue reading →

Continue ReadingBitcoin has arrived in Iran with a new website and a forum

Bitcoin has arrived in Iran with a new website and a forum

"CoinAva is the name of the new platform that is bringing cryptocurrency to Iran! Besides trying to spread the word about Bitcoin in the country, this platform allows users to buy and sell virtual currency, via a counter party in Australia. From now on, people in Iran can buy and sell Bitcoins, as well as learn more about the cryptocurrency with the help of CoinAva’s team. And, besides the platform, there’s more news: Iran also has a new forum dedicated to cryptocurrency called Persian Bitcoin Talk, which you can visit here. Looks like Bitcoin is really building its way into the country!" Continue reading →

Continue ReadingBitcoin has arrived in Iran with a new website and a forum