28 Jan '14, 9pm

In Praise of Bitcoin, With Little Regard for Banks

Craig Ruttle/Associated Press Cameron Winklevoss, left, and his twin brother, Tyler, testified on Tuesday at a hearing about Bitcoin. A hearing Tuesday on the regulatory future of Bitcoin instead turned into a forum on the shortcomings of the traditional banking industry. The hearing, called by New York State’s top financial regulator, Benjamin M. Lawsky, gave five Bitcoin advocates the chance to discuss what they view as the advantages of Bitcoin over current systems of moving money around the world. “Solutions don’t really come from the current industry,” said Cameron Winklevoss, who, with his twin brother, Tyler, has invested in Bitcoin companies. The two were early players in Facebook . Even Mr. Lawsky got in some digs when he complained that it takes three days for his bank to transfer money to pay a credit card bill at the same bank. Related Links Video: David Gillen...

Full article: http://dealbook.nytimes.com/2014/01/28/in-praise-of-bitco...

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dealbook.nytimes.com 28 Jan '14, 9pm

Craig Ruttle/Associated Press Cameron Winklevoss, left, and his twin brother, Tyler, testified on Tuesday at a hearing abo...

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dealbook.nytimes.com 28 Jan '14, 9pm

Craig Ruttle/Associated Press Cameron Winklevoss, left, and his twin brother, Tyler, testified on Tuesday at a hearing abo...

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