Free Talk Live

US Senators seek to destroy peer-2-peer virtual money, which competes with the US dollar (similar to the Liberty Dollar minus the gold backing and minus the centralization). They claim its use on the Silk Road as an excuse.

Under sanctions imposed by the U.S. and its allies, dollars are hard to come by in Iran. The rial fell from 20,160 against the greenback on the street market in August to 36,500 rials to the dollar in October. It’s settled, for now, around 27,000. The central bank’s fixed official rate is 12,260. Yet there’s one currency in Iran that has kept its value and can be used to purchase goods from abroad: bitcoins, the online-only currency.

Online theft is a fact of life nowadays, but yesterday a BitCoin user woke to find his haul of virtual currency had been plundered. A user with the handle allinvain found 25,000 BitCoins had been stolen. If the thief were to cash-out he or she would net just about $500,000 at current BitCoin-US Dollar exchange rates.

Already bigger than many sovereign currencies, Bitcoin has broken the $1 billion in value mark this week. In the wake of continuing economic crises and liquidity shortages, this new virtual currency is poised to challenge the euro and US dollar.
By not being tied to any particular financial institution and independent from world governments, Bitcoin will become a safe haven for anyone trying to save their money from the crippled international banking system, claimed Max Keiser, the host of RT's Keiser Report.

It only took nearly a year of hiatus and $1 billion in sunk costs, but the Department of Homeland Security has finally gotten rid of the networked suite of sensors that made up its virtual border fence.

The virtual fence “cannot meet its original objective of providing a single, integrated border-security technology solution,”

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No shit?!

(U//FOUO) Bitcoin – A decentralized, peer-to-peer (P2P) network-based virtual currency – provides a venue for individuals to generate, transfer, launder, and steal illicit funds with some anonymity. Bitcoin offers many of the same challenges associated with other virtual currencies, such as WebMoney, and adds unique complexities for investigators because of its decentralized nature.

"A virtual thieving spree could have real life consequences for culprits in Finland, where police are investigating the theft of virtual furniture on a social networking site popular with teenagers." -- If they catch the culprits, will they serve time in a virtual prison?

After 5 years and almost a billion dollars the "virtual security fence" is non-existent except on one 50 mile stretch. As usual, government demonstrates the only thing it does well is doing things badly.

The dollar may fall below 75 yen next year as it becomes the world’s “weakest currency” due to the Federal Reserve’s monetary-easing program, according to long-time partners-in-crime, J.P. Morgan.