Someone sent a series of monetary transactions that did not actually represent real trades, and then announced that with a special program you could turn them back into some text. That text then contains links to, well, I don't actually know what because I haven't looked. But let's assume it's bad stuff.Read more »
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.Read more »
"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 »
In The Nature Of The Future: Dispatches From The Socialstructed World, Marina Gorbis argues that as more and more of our activities are quantified online, your actions could become a new currency. But what happens if good behavior is commodified?Read more »
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%.Read more »
'Zerocoin' Add-on For Bitcoin Could Make It Truly Anonymous And Untraceable.Read more »
Real News @ http://RevolutionNews.US — Obama welcomes America's Most Wanted to the White House.... Bankster in Chief, and an opportunity to plead their case for obliteration of the Volcker Rule and a rollback of tougher capital requirements. Translation -- they want to boost leverage and get back to prop trading, encouraging fraud and blowing up the known universe.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 »
Criticism of Bitcoin by Bloomberg regards the future of the Bitcoin system.
By Matthew Zeitlin Apr 4, 2013 10:29 AM ETRead more »
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