Tradehill is a U.S-based exchange that falls within the definition of FinCEN’s regulations for virtual currency exchange operators. “Bitcoin’s primary use is value transmission and financial technology in the U.S. is a very regulated space,” according to Tradehill COO Ryan Singer. The company has anticipated this regulation and the recent guidance from FinCEN “really helps the startups in the space build a compliance game plan,” he added.Read more »
That’s where Bitcoin thrives: where people would prefer to throw in their lot with anonymous strangers instead of the world economy. It’s gold-bug thinking reinvented for an age of fluid transparency and instantaneous transactions. And as such it’s an excellent indicator of anxiety. Where you see Bitcoins in action you find a weird and heady mix of speculative angst, a fear of being left behind, and people who appear to have lost faith in institutions, who feel most left behind.Read more »
“What we want from a monetary system isn’t to make people holding money rich,” he writes. “We want it to facilitate transactions and make the economy as a whole rich. And that’s not at all what is happening in Bitcoin.”Read more »
In Argentina Inflation is rampant, corruption is incorrigible, and freedom is waning. Argentine President Cristina Fernandez is instituting Price controls, imposed a price freeze at grocery stores, restricted people from changing pesos into other currencies, including gold. Argentines have reached their breaking point! For obvious reasons, Bitcoins are becoming increasingly popular in Argentina as people seek any means necessary to survive the economic destruction. For example a local tour operator and rental car agency there has started accepting bitcoins.Read more »
It may be unwise to align ones self to bitcoins, whereby should it actually prove to be a scam, a person or groups' intelligence or allegiance might come into play.
For example, my dad left his position as a broker in the commodities market back in the 80's when investments his company promoted caused his clients and friends to loose money.
I'm just sayin...
The unregulated digital world of Bitcoins suffered another flash-crash last night. According to Ars Technica, the 23% plungefest in the value of the digital currency (the second in a week) was due not to Waddel & Reed, not HFT algos, but 'forking' Cryptographic algos gone wild agreeing on different (legacy) keys as being correct - akin to finding Tungsten in your Gold bars (and hence the drop in the value). This latest glitch is different from the problem that caused Bitcoin prices to briefly crash to zero in June of 2011.Read more »
An article in Linux Magazine briefly describes the history and basics of bitcoins.Read more »
A graphical visualization of approximately the first 1000 transactions starting at block 0 on the bitcoin network.
Each dot is a bitcoin address ("Hello!" when it appears). There is a line between dots when there is a transaction between them ("Transfer"). The size of the dots represent the amount of "influence" that address has (PageRank). It is sized relative to the probability that a bitcoin will end up in that address given the transactions that have been seen.Read more »
Fake gold bars turn up in Manhattan. 10 tungsten filled gold bars have turned up. Another reason to buy bit coins.Read more »
Users of electronic cash protocol Bitcoin might soon have another way to access and spend funds...Charlie Shrem...revealed that his company was 6-8 weeks away from launching a Bitcoin-funded international debit / credit card that will be issued by two unnamed major banks: one international and one domestic...the card will function like a regular debit or credit account and should be accepted wherever MasterCard is accepted – virtually everywhere. The first 1,000 cards will be given away for free but after those have been spoken for, expect to pay around $10 for a card.Read more »
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