Bitcoin is not in a legal grey area any more than Monopoly money is. The only grey area here is in the different perceptions people have of what people think Bitcoin is; is it money, or is it not money and all the rest of that. Bitcoin does not need to be licensed and approved. Licens...
Thanks for this post. I'm pleased to read that the device will allow the back up of its private keys, from what's on their site I had understood the opposite. With backup features, it becomes a much better, likely the best bitcoin wallet available. Only missing "plausible deniability"...
Humbly, there are those of us now suggesting that Bitcoin, too, may be a similarly important resource for mankind. Just as Wikipedia tried to revolutionize the world with open-source knowledge, so too is Bitcoin trying to revolutionize the world with open-source exchange. One might ar...
Yesterday’s announcement came as a shock, even to us. WordPress , the 22nd most visited website on the entire interwebs, is now accepting Bitcoin. This is very big news (press listed below), and arguably the most important single event thus far in Bitcoin’s history. Yet, the significa...
Speaking to its usefulness, Bitcoin is increasingly being adopted as a payment method for online commerce because it carries several advantages over traditional payment methods such as credit cards, bank wires, or PayPal. Unlike traditional payment methods, Bitcoin transfers carry no ...
I came across an interesting article today, published originally on Oct. 30th , from a gentleman named Dmytri Kleiner. The piece is called “Bitcoin and The Public Function of Money ,” and the conclusion is that Bitcoin clearly does not “have the potential to replace Government fiat mo...
On Oct 29, 2012, the European Central Bank (ECB) released an official (and very nicely prepared) report called “Virtual Currency Schemes .” The 55-page report looks at several facets of what virtual currencies are, how they’re being used, and what they can do. As it happens, the term ...
Of the many aversions people have to the new concept of virtual currency, one of the most fundamental is merely an aversion to the fact that it’s “virtual.” This is a curious phenomenon and is worth exploring. As it turns out, the money you’re currently using is already virtual. We ar...
However, MintChip did boast one very compelling feature – irreversibility. One of Bitcoin’s greatest attributes is that once a payment is made, it is “good money,” meaning it cannot be reversed by the payer. MintChip claiming the same feature meant that, in spite of the other reservat...
floor, we looked out the window to the beautiful Ipanema crescent, illuminated by a frontage of luxury hotels and speckled with early evening beach goers. Samantha kindly offered us a glass of wine, and introduced us to Janet Estep (head of NACHA), Paul Trozzo from PNC Bank, a friendl...
