VIRTUAL WORLD CASHING IN ON CURRENCY 'Bitcoin' is 'legal gray area' but attracting up to $500k per day

Virtual world cashing in on currency

wnd.com 10 Oct '12, 2am

VIRTUAL WORLD CASHING IN ON CURRENCY 'Bitcoin' is 'legal gray area' but attracting up to $500k per day

Tweet Text smaller Text bigger The virtual world now is cashing in, to the tune of up to $500,000 daily, on online transactions, even though there remains a “legal gray area” about Bitcoin. But the growing popularity of the anonymous, decentralized, digital currency is prompting concern among users and law enforcement agencies that it may be misused. Since its inception in 2009, the online payment system (the term “Bitcoin” refers both to the system and to the virtual units of currency users transfer through that system) now accounts for between $100,000-$500,000 worth of online transactions per day, despite the fact that Bitcoin exists in what Timothy B. Lee calls “a legal gray area.” Lee, writing for Ars Technica , reports that New York Sen. Charles Schumer has denounced Bitcoin as a means of money laundering on the Web. The Secret Service is now well aware of the “untra...

Full article: http://www.wnd.com/2012/10/virtual-world-cashing-in-on-cu...

Tweets

@ManifestStefany » 12 Oct '12, 1pm
Virtual world cashing in on currency: Since its inception in 2009, the online payment system (the term “Bitcoin”... [link]
@Pyramining » 10 Oct '12, 8pm
Virtual world cashing in: [link] #bitcoin https://t.co/qWCe1fy2
@Matt_H_79 » 10 Oct '12, 7pm
RT @BitCoinReporter: VIRTUAL WORLD CASHING IN ON CURRENCY [link] #bitcoin
@Phil_Elmore » 10 Oct '12, 11am
My latest act of random journalism: I reported on the growing popularity of the digital currency "Bitcoin" for #WND: [link]
@DragonForce_One » 10 Oct '12, 3am
BITCOIN: Ever Hear of it?/ Virtual world cashing in on currency [link]
@BitcoinByte » 10 Oct '12, 2am
RT @electricwings: VIRTUAL WORLD CASHING IN ON CURRENCY 'Bitcoin' is 'legal gray area' but attracting up to $500k per day [link]
@electricwings » 10 Oct '12, 2am
VIRTUAL WORLD CASHING IN ON CURRENCY 'Bitcoin' is 'legal gray area' but attracting up to $500k per day [link]
@PlanBnB » 12 Oct '12, 1pm
Virtual world cashing in on currency: Since its inception in 2009, the online payment system (the term “Bitcoin”... [link]
@HostelVegan » 12 Oct '12, 1pm
Virtual world cashing in on currency: Since its inception in 2009, the online payment system (the term “Bitcoin”... [link]
@M0P1JMLHIAIWNX9 » 11 Oct '12, 1am
RT @BitCoinReporter: Virtual world cashing in on currency - [link] [link] #bitcoin
@KD7ZD » 11 Oct '12, 12am
RT @BitCoinReporter: Virtual world cashing in on currency - [link] [link] #bitcoin
@BitCoinReporter » 10 Oct '12, 8pm
Virtual world cashing in on currency - [link] [link] #bitcoin
@BitCoinReporter » 10 Oct '12, 7pm
VIRTUAL WORLD CASHING IN ON CURRENCY [link] #bitcoin
@keepyourassets » 10 Oct '12, 1pm
RT @electricwings: VIRTUAL WORLD CASHING IN ON CURRENCY 'Bitcoin' is 'legal gray area' but attracting up to $500k per day [link]
@abrkn » 10 Oct '12, 6am
Virtual world cashing in on currency [link] #bitcoin
@SteveBiddick » 10 Oct '12, 4am
RT @electricwings: VIRTUAL WORLD CASHING IN ON CURRENCY 'Bitcoin' is 'legal gray area' but attracting up to $500k per day [link]
@bitcoinmoney » 10 Oct '12, 4am
RT @electricwings: VIRTUAL WORLD CASHING IN ON CURRENCY 'Bitcoin' is 'legal gray area' but attracting up to $500k per day [link]
@bitcoinnews » 10 Oct '12, 4am
RT @electricwings: VIRTUAL WORLD CASHING IN ON CURRENCY 'Bitcoin' is 'legal gray area' but attracting up to $500k per day [link]