30 May '13, 8pm

James Ball - Bitcoin Beyond Reach Of Government & Law #bitcoin

James Ball - Bitcoin Beyond Reach Of Government & Law Data editor at the Guardian, James Ball (@jamesrbuk ), describes in a post why Bitcoin’s prospects significantly differ from centralized digital currencies like Liberty Reserve. Excerpts: “The real transformative power of Bitcoin, or something like it, lies not in a speculative bubble, but in its potential to put currency outside of the control of governments, or law enforcement agencies.” - “Bitcoin makes Liberty Reserve look quaint – as unlike the alleged money launderer, Bitcoin is decentralised. There’s no single company or entity controlling the currency, and so it’s nearly impossible to shut down.” - “Where real money is exchanged into Bitcoins is still a potential weak spot for authorities – and some Bitcoin exchanges are looking to sign up with regulators.” - “If Bitcoin, or a currency working in a similar way t...

Full article: http://www.bitcoinnews.com/post/51744102645/james-ball-bi...

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