"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.Read more »
OKCupid announced on Tuesday via Coinbase, a "bitcoin wallet" where people can buy and sell the digital currency, that it would begin taking payments in Bitcoin for its "A-List" features.
The site joins dozens of other sites, including WordPress and Reddit, in accepting the digital currency.Read more »
Today we announced that Fr33 Aid has abandoned its IRS application for recognition of non-profit status. In this post, I answer some of the questions we expect to receive about this decision and discuss related news:
- Fr33 Aid becomes Bitcoin-based organization
- Fr33 Aid no longer dependent on traditional banks
- Fr33 Aid to give talk at Bitcoin 2013
Maybe, just maybe, you shouldn't take financial advice from radio talk show hosts.Read more »
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.
Bitcoin has been all the rage lately. The stuff, or lack thereof, runs on peer-to-peer technology, is fully decentralized, has no patents, and is open source. Currently, there are almost 11 million bitcoin units in existence and the maximum amount of bitcoin units that will ever be created by the logic of its design are 21 million. For more details on how they work, see the recent Mises Daily “The Money-Ness of Bitcoins” by economist Nikolay Gertchev.Read more »
I've been thinking, it would be nice if there was a "Bitcoin" or "Crypto-currencies" category when submitting show prep here. I've been using a few different ones, depending on the particular focus of the article. Of course, I do tag them with bitcoin, which works I suppose, but there are probably enough Bitcoin-related articles to justify it. I know you've got something in the works for the website, but it shouldn't be hard at all to add a category.Read more »
As interest has surged in Bitcoin, platforms that support the digital currency have been hit by damaging cyberattacks this week. Mt. Gox, a Tokyo-based exchange that claims to handle more than 70% of all Bitcoin trades, said in a statement on Thursday that it had been hit by a massive Distributed Denial of Service attack. In a DDoS attack, hackers direct a giant traffic surge to their target, overwhelming the site's servers and making it hard for legitimate users to gain access.Read more »
As it is portrayed on FTL, the bitcoin store is all about serving the bitcoin community, i.e. "selling for cost." lol Seriously? The store is selling/gambling on upward valuation. It's not a "charity" type enterprise at all. It hedges it's sales on the hope that what it takes in low bitcoin value will be able to sell back to legitimate currency at a far greater rate.Read more »
Jeff Berwick talks about Bitcoin and the future of Bitcoin ATMs on CNBCRead more »
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