Free Talk Live - Money

Bitcoin: world's fastest growing currency migrates off the internet

TooNs — Thu, 02 May 2013 05:23:08 +0000

In Kreuzberg, Berlin, virtual currency Bitcoin has expanded off the internet to become a favoured medium of exchange in real shops and bars. Joerg Platzer, the owner of bar Room 77 is helping to establish what he believes to be the world's first Bitcoin local economy.

Bitcoin Smashes Empires

Deslock Darkstar — Thu, 25 Apr 2013 09:57:32 +0000

"What follows is my response to a question that was posted on the Rugatu website asking, "What is the legal status of Bitcoin?" After composing this over the course of 10 minutes or so, I realized I liked the response, and decided I want to "polish it up" into a better op-ed style article. Any feedback, positive or negative (though keep it constructive, please) is appreciated.

Chinese Woman Sues Monopoly Federal Reserve

snowdog2012 — Tue, 23 Apr 2013 16:02:20 +0000

In what could to grow into a class action in US courts, a Chinese woman is suing the Federal Reserve after discovering that the real value of the USD250 she put in an account in 2006 had shrunk by 30%.

Follow the money.

paulie — Fri, 12 Apr 2013 01:48:08 +0000

Where does the money go when buying bitcoins?
No one in bit-landia seems to know, or are willing to tell. LOL
"Follow the money" is the oldest and wisest saying since currency was invented. Soo, who ends up with all the money used to buy bitcoins???
The miners? The exchanges?
The FED's owners get all the value of the Dollar.
Who ends up with all the value of the bitcoin? Bottom line.

The Great Cyprus Bank Robbery, by Ron Paul

porc578 — Mon, 01 Apr 2013 22:25:50 +0000

APRIL 2013 - The dramatic recent events in Cyprus have highlighted the fundamental weakness in the European banking system and the extreme fragility of fractional reserve banking. Cypriot banks invested heavily in Greek sovereign debt, and last summer's Greek debt restructuring resulted in losses equivalent to more than 25 percent of Cyprus' GDP. These banks then took their bad investments to the government, demanding a bailout from an already beleaguered Cypriot treasury. The government of Cyprus then turned to the European Union (EU) for a bailout.

'Challenging the dollar': Bitcoin total value tops $1 billion

WaxCrax — Sun, 31 Mar 2013 16:00:33 +0000

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.

A libertarian nightmare: Bitcoin meets Big Government

Cyphase — Sun, 24 Mar 2013 23:28:57 +0000

Over the years, Bitcoin has experienced ups and downs; the currency has been targeted by hackers and thieves and botnets and been victim to more than one embarrassing software glitch. But it has persevered, and this week, one can fairly say that Bitcoin came of age. On Monday, the U.S. Treasury’s Financial Crimes Enforcement Network released its first “guidance” as to how “de-centralized virtual currencies” should fit into the larger regulatory regime under which currencies of all kinds are required to operate.

FinCEN sounds death knell for US based Bitcoin businesses

Deslock Darkstar — Tue, 19 Mar 2013 20:33:52 +0000

It seems that FinCEN has finally decided to opine on Bitcoin, without naming it specifically. This US pronouncement spells death to all “compliant” US Bitcoin companies that choose to remain based in the USA.

Global Economics Lesson From Bitcoin - Business Insider

roryn3kids — Sat, 16 Mar 2013 09:12:44 +0000

Limiting supply has clearly been a huge plus for the BTC. Becoming known as a currency for illegal drugs and gambling is more problematic, of course. But let’s not forget that the U.S. Treasury printed 3 billion $100 bills in the 2012 Fiscal Year. Most of those (the Federal Reserve estimates 80%) go overseas and many of them simply facilitate the global drug and arms trade, not to mention tax evasion and human trafficking. So the BTC’s growing role in the same types of business might qualify it for “Reserve currency” status sooner than anyone thinks.