technology

Amateur fetish porn is jumping into the Bitcoin game

"It’s a bit like Facebook for fetishes. Through March 1, Master Fet and Gimp Man are allowing performers to collect on 100 percent of the site’s revenue. 'We believe bitcoins, and digital currency in general, holds great promise to innovate not only the adult industry, but perhaps the way the world understands and uses currency as a whole,' he said, adding that certain niches like erotic hypnosis and sleeping fetish are currently outlawed by Visa and Mastercard." Continue reading →

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Overstock CEO: money ’too important to leave to government officials’

"Overstock.com Inc., an online discount retailer, is preparing to accept the virtual currency bitcoin as payment in the second half of 2014, according to Chief Executive and Chairman Patrick Byrne. The news was first reported by the website newsBTC, and confirmed in a Thursday morning phone interview with Byrne. The project is in an early stage, with no decision yet on whether Overstock.com would work with bitcoin companies to allow bitcoin payments or create its own system. A team of six to 12 people is expected to work on bitcoin payments at the company, said Byrne." Continue reading →

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Bitcoin and Intrinsic Value: a Layman’s Response to Alan Greenspan

"Once upon a time, at the end of the last millennium, I founded and led the first games company to sell virtual goods or virtual currency for real money. We sold (and still sell) ‘credits’ – virtual currency that is bought for real money, which players can use to buy other things in our games. When I first started selling credits, a lot of people, including almost everyone in the games industry who was aware of what we were doing, thought it was ridiculous. The general criticism was along the lines of: 'Why would someone pay real money for a fake sword?' 16 years later, people are still buying these credits, and they’re even used to pay other people for third-party services around our games." Continue reading →

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Fund Manager Hugh Hendry: I would buy Bitcoin if I could

"'This is the environment where Bitcoin could go to $1m. There is no qualitative reason, but it is trending. If I could own Bitcoin, I would. If I own 3D printing, it is just the same thing,' he said. Hendry added fundamentals do not matter at a time when policy is misaligned, emphasising instead the ‘feedback loops’ created by QE. 'There is no point arguing about the one-way causality we [as an industry] believe determines our processes. That is all about a belief this is rational. We want to believe markets go up because the economy is improving, because corporate cashflows are improving. But when you get monetary disturbances creating loops, it does not really matter.'" Continue reading →

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Why You Shouldn’t Write Off BitCoin Just Yet

"BitCoin poses a pretty substantial challenge to business people: it requires sufficient understanding of computer science to appreciate its elegance and idiosyncrasies but, perhaps more importantly, it requires a sufficient understanding of finance to appreciate it vis a vis other fiat currencies and gold. Despite this complexity, business leaders are pressured to take a stance on this fledgling techno-currency. Most have chosen the safe approach writing it off as the latest Ponzi scheme with some even arguing that it will be the largest bubble burst in the history of Ponzi bubbles. I’m afraid I’m not so sure… And here’s why." Continue reading →

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Bitcoin: Experts clash over the crypto-currency

"Bitcoin is reaching new heights thanks to a combination of speculation on future value and genuine, undeniable usefulness. Think about it: Why can it take days or weeks for banks to send money around the world, when an email travels in seconds? Does the money travel by steamboat? Are they loading gold bars onto the side of a camel and sending it over the mountains of Mongolia? Of course not. The real answer is depressing - banking is a stagnant market running on long-obsolete infrastructure, which improves only when forced to by government. [..] When Metro Bank opened in 2010, it received the first new UK banking licence issued in 150 years." Continue reading →

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Read more about the article Federal Agency Responses Reveal US Government Attitudes to Bitcoin

Federal Agency Responses Reveal US Government Attitudes to Bitcoin

"The US Senate committee due to begin hearings into ‘virtual currencies’ on 18 November has released the responses it received to its August 2013 requests for information on the topic from a number of federal agencies. Until the actual hearings begin, the letters provide one of the most detailed insights so far into how various US government authorities view bitcoin and its contemporaries. The crime-heavy spotlight of the responses might be an indication of the US government’s overall approach to digital currencies such as bitcoin, with only the Federal Reserve and Treasury Department commenting that such payment systems could provide benefit and increase efficiency."

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US has Already Ceded Dominance in Bitcoin Trading

"Currently, the top four bitcoin exchanges by volume are located outside of the US, with the world’s leading exchange based in China. Less than 2% of worldwide bitcoin trading and real-time market making occurs within the US jurisdiction. All four of the world’s leading exchanges have demonstrated a capacity for serious, engaged banking relationships that would have been unobtainable in the United States. We have arrived at the point where the US jurisdiction must strategically evaluate a path going forward. Either they enable a climate that appeals to bitcoin exchanges and businesses or they maintain barriers that silently drive innovation in the space overseas." Continue reading →

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