money

More Small Businesses Embrace Bitcoin

"Having the latest technology can help a small company stand out against the competition. And that is perhaps the biggest reason Bitcoin, a nascent system using virtual currency to make payments online, has drawn a strong following among small-business owners. It is unclear if business transactions were part of the original vision for Bitcoin, which was started in 2009 and isn't backed by a central bank. BitPay Inc., an Atlanta firm that processes Bitcoin payments, says it has signed up more than 8,000 merchants world-wide—all small companies—since it formed in May 2011." Continue reading →

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Who Says the Market Cannot Supply Its Own Money?

"I just arrived back from lecturing at the week-long Free State Project’s Tenth Annual Porcupine Freedom Festival, a huge gathering of libertarians of all stripes from all over the U.S. in the beautiful White Mountains of New Hampshire. Many of the vendors accepted an array of payments media. I was particularly struck by the sign on one stall which read: 'Bitcoin, silver coins, Shire Silver, ammo and even Federal Reserve notes accepted.' I was also delighted to discover that privately minted gold and silver money were circulating at the festival in the form of the aforementioned Shire Silver. These were widely accepted as media of exchange by vendors and paid out in change." Continue reading →

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Private Fee-For-Service Medical Practice Now Accepts Bitcoin

"Whether coming to us for treatment of a new sore throat, for immunizations before a business trip to India, for the complex care of a parent who’s homebound with a stroke, or for something more sensitive like addiction to opiates, we offer a highly confidential and discreet experience at our offices in the heart of downtown San Francisco. But one important part of the confidentiality puzzle is payment. So My Doctor Medical Group is now pleased to announce that we accept payment for medical services in Bitcoin, the virtual currency that offers heightened security and enhanced privacy." Continue reading →

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Euro Pacific Capital Global Investor Newsletter – June 2013

"The central premise of Abenomics seems to be that the Bank of Japan could succeed in pushing inflation up to 2% without raising the rates on long-term debt. To do this, one would have to assume that bond investors would accept negative interest rates, even while a falling yen was eating away at principle. Such an outcome is not consistent with demonstrable human behavior. If the investors didn't play ball, it was assumed that the Bank of Japan could step up their quantitative easing and buy the bonds that investors were rationally selling. But the BoJ is already buying 70% of the new government debt." Continue reading →

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Barclays faces pressure from Somali cash transfer firms

"Barclays is the last major British bank to still provide such money transfer services in Somalia. The letter signed by more than 100 researchers and aid workers states that its plan to close its account with Dahabshiil - the largest money transfer business providing services to Somalia - on 10 July will cause a crisis for the families that rely on the transfers. Abdirashid Duale said Barclay's decision could see money transfers pushed underground into the hands of 'unregulated and illegal providers'. The group estimates that almost three quarters of Somalis who receive funds from overseas use it to pay for basic food, education and medical expenses." Continue reading →

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Prepaid Card Can Be Funded by Bitcoins

"Bitcoin has been making huge strides in the news lately, with more stores and customers using it every day. The latest development in the Bitcoin world is a new prepaid debit card available in the United Kingdom. This card can be purchased with and funded by Bitcoins, and it can be used in stores like any other prepaid card. Surprisingly, the Bitcoins you put into the card do not come out as Bitcoins. They come out as Euros, British pounds and other forms of currency. This means that you do not have to only use it at stores that accept Bitcoins. You can use it anywhere MasterCards are accepted." Continue reading →

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States Put Heat on Bitcoin

"State regulators are warning virtual-currency exchanges and other companies that deal with bitcoin that they could be closed down if their activities run afoul of state money-transmission laws. According to people familiar with the situation, banking regulators in California, New York and Virginia in recent weeks have issued letters telling the companies that they need to follow the state rules or prove that the rules don't apply to them. Similar actions are expected from other states in coming weeks and months, according to people familiar with the matter. States typically require companies to put up a bond that could run as high as several million dollars." Continue reading →

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Gold: Dead Cat Or Raging Bull?

"Gold prices are falling, but gold sales are going through the roof – what is the real truth behind these puzzling developments? Is the gold bull market dead, or is the best yet to come? And what are the implications for investors today? TheStreet has partnered with Casey Research to answer these questions – and more – in an exclusive video event focused on the gold debate that's raging across investment communities worldwide." Continue reading →

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NBC: ‘Bitcoin losing shine after hitting the spotlight’

"The old, informal methods of using Bitcoin are dying out: Of the two largest 'exchanges' where Bitcoins are bought and sold, one, Bitfloor, shut down in April following a major theft, and the other, Mt. Gox, is facing potential criminal charges after failing to properly disclose its financial practices to FinCEN, a U.S. regulatory body. FinCEN recently acknowledged 'decentralized virtual currencies' like Bitcoin as being real money, prompting scrutiny. New firms are learning from predecessors, working with regulators and established financial players from the get-go, and structuring themselves in order to handle large amounts of money without meltdowns." Continue reading →

Continue ReadingNBC: ‘Bitcoin losing shine after hitting the spotlight’