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Via Paul Rosenberg of Free-Man's Perspective blog (via Jim Quinn's Burning Platform blog ), An increasing number of people have complained about governments and central banks in recent years, even using the word “tyranny” to describe them. They are, of course, called names in the esta...
Interesting news out today in the Bitcoin world. As you may recall, last week I highlighted how the highly respected venture capital firm Union Square Ventures (Fred Wilson, early investor in Twitter) invested in Coinbase. Today we learn that another very high profile investor has plu...
Sen. Chuck Schumer (D-N.Y.) described Bitcoin as an “online form of money laundering” and called for the authorities to shutter the Bitcoin-based drug market Silk Road. Yet until recently, the feds have taken a relatively hands-off posture. ... That hands-off stance may have started t...
Bob has bitcoins, Alice has bread. Bob transfers x number of bitcoins to Alice by intitating the transaction process, while Alice hands y number of loafs to Bob. Bob goes home with bread. The transaction gets confirmed an hour later by miners. If the transaction goes bad, Alice then k...
six weeks after the US Treasury decided enough-was-enough with this upstart non-fiat, non-controlled-by-TPTB currency (and applied money-laundering reglations), US financial regulators are now looking for supervisory control over Bitcoin. As The FT reports , CFTC's Bart Chilton notes ...
Last November, in an act of sheer monetary desperation, the ECB issued an exhaustive, and quite ridiculous, pamphlet titled "Virtual Currency Schemes" in which it mocked and warned about the "ponziness " of such electronic currencies as BitCoin. Why a central bank would stoop so "low"...
After the music-sharing service Napster went under, Niklas Zennström (the creator of Skype) stepped in with his creation called Kazaa, which had no central server that could be shut down. Eventually, such peer-to-peer programs became more numerous, to include Kazaa Lite, eDonkey, eMul...
