Posts Tagged ‘ Bitcoin ’

Bitcoin: Money of the future or old-fashioned bubble?

April 9, 2013
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Patrik Korda  

"Bitcoin has been all the rage lately. The stuff, or lack thereof, runs on peer-to-peer technology, is fully decentralized, has no patents, and is open source. Currently, there are almost 11 million bitcoin units in existence and the maximum amount of bitcoin units that will ever be created by the logic of its design are 21 million. For more details on how they work, see the recent Mises Daily 'The Money-Ness of Bitcoins' by economist Nikolay Gertchev." (04/09/13)

http://tinyurl.com/cqahcfr  

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The rise of the bitcoin: Virtual gold or cyber-bubble?

April 8, 2013
posted by

Washington Post
by Anthony Faiola and TW Farnam  

"The antiestablishment nature of bitcoin has also made it the preferred currency of antigovernment activists." (04/04/13)

http://tinyurl.com/bwbbuuq  

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Bitcoin fever — survivable?

April 8, 2013
posted by

Nolan Chart Nolan Chart
by Jahfre Fire Eater  

"My long-term prophecy for Bitcoin is based on the assumption that it does have value. Today it has only price, not any proven value. If it does prove to have value then some folks will amass an enormous amount of it. At that point, there will be value in the US government confiscating that value and closing down the Bitcoin dream. How? Forfeiture. The US government doesn't even have to pass any new laws. It can just wait until individuals are accumulating material goods purchased with Bitcoin and then ... take all the goods. No crime needs to be charged, no trial needs to be won." (04/07/13)

http://www.nolanchart.com/article10205-bitcoin-fever-survivable.html  

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Bitcoin: An escape from currency debasement?

April 7, 2013
posted by

OpenMarket.org
by Matthew Melchiorre  

"Although gold traditionally has been the alternative asset for those wary of fiat currency debasement, there is an emerging newcomer: virtual currency. Bitcoin, created in 2009 by Japanese developer Satoshi Nakamoto, is a self-regulated and anonymous online payment system with a fixed supply of currency." (04/05/13)

http://tinyurl.com/cxofqxa  

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PSA: Bitcoin is NOT anonymous

April 7, 2013
posted by

Thomas L. Knapp KN@PPSTER
by Thomas L. Knapp  

"Using Bitcoin anonymously is something you have to proactively work at. The system itself is not, was never intended to be, and was never advertised as, anonymous." (04/05/13)

http://tinyurl.com/czgaucl  

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Bitcoin for beginners

April 3, 2013
posted by

Jeffrey Tucker Future of Freedom Foundation
by Jeffrey A. Tucker  

"Understanding Bitcoin requires that we understand the limits of our ability to imagine the future that the market can create for us.  Thirty years ago, for example, if someone had said that electronic text -- digits flying through the air and landing in personalized inboxes owned by us all that we check at will at any time of the day or night -- would eventually displace first class mail, you might have said it was impossible." (04/02/13)

http://tinyurl.com/dx6ta6n  

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Bitcoin not bombs

December 5, 2012
posted by

Daily Anarchist Daily Anarchist
by David Barker  

"Using Bitcoin Iranians living abroad can send money to their families, or exchange them for rials or dollars. It allows them to store their wealth digitally where the currency police can’t seize it, and most importantly it allows the people of Iran, at the individual level, to skirt US sanctions and maintain an economic connection to the outside world." (12/04/12)

http://dailyanarchist.com/2012/12/04/bitcoin-not-bombs  

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The Bitcoin learning curve

May 3, 2012
posted by

Daily Anarchist Daily Anarchist
by Seth King  

"I am sure Daily Anarchist has many readers who are not tech savvy. And I am sure that upon first glance Bitcoin looks overwhelming. The effort put into learning about Bitcoin far outweighs the benefits. Fortunately, there is a new set of very short videos that will not only break down Bitcoin for the lay person, but will help him or her understand how great the benfits of Bitcoin are." (04/30/12)

http://dailyanarchist.com/2012/04/30/the-bitcoin-learning-curve/  

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I was wrong about Bitcoin

October 3, 2011
posted by

Daily Anarchist Daily Anarchist
by Seth King  

"Since its inception I have always been in opposition to Bitcoin as money. To me the idea of trading one unbacked currency for another was foolhardy. That it could compete against Federal Reserve Notes long-term was wishful thinking. And that it had values in ways silver could not was absurd. I thought Bitcoin was nothing more than an unsound currency and short-term fad destined for failure. I now believe I was wrong." (10/02/11)

http://dailyanarchist.com/2011/10/02/i-was-wrong-about-bitcoin/  

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Bitcoin cannot fail

July 28, 2011
posted by

The Bottom Violation
by Paco Ahlgren  

"If you haven’t already come across one of the multitudinous articles flooding the Internet these days about Bitcoin, I’ll enlighten you: Bitcoin is the first successful digital crypto-currency. It is the first viable threat to monopolistic, uncompetitive government-issued money. And it is proliferating." (07/25/11)

 

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Doug Casey on Bitcoin and currencies

June 22, 2011
posted by

LewRockwell.com
by Louis James  

Interview with Doug Casey. Casey: "[I]t’s quite encouraging to see that so many people are so disgusted with government currencies, and the total lack of privacy in banking. That’s why Bitcoin could catch on at all. But let’s go back to basics, and see if Bitcoin qualifies as money. Money is a medium of exchange and a store of value. Bitcoin may work as a medium of exchange sometimes, but not a very good one, because it’s proving so unstable. It has fluctuated so much in value over its short life that it is totally unsuitable as a store of value." (06/23/11)

http://lewrockwell.com/casey/casey89.1.html  

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Bitcoin price crashes after massive account hack and sell-off

June 20, 2011
posted by

Gizmodo    

"A user account carrying a significant amount of Bitcoin on the trading site Mt. Gox was hacked by an unknown party, who then attempted to sell the lot to themselves and exchange the Bitcoin into US dollars. Then all hell broke loose. After word of this breach got out yesterday, the price of Bitcoin plummeted ..." (06/20/11)

http://tinyurl.com/5skapzk  

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Bitcoins considered as virtual gold

June 19, 2011
posted by

Ideas
by David Friedman  

"Bitcoins, as I understand them, are, like gold, mined — not with pick and shovel but with computer power. Each consists of a piece of information which requires a considerable input of computing power to generate. In equilibrium the value of one bitcoin tends to the cost of producing it, just as the value of an ounce of gold tends to its production cost. Thus, like a commodity currency, bitcoins consume real resources in their production. And their value has both the advantage and disadvantage of a commodity money — not subject to deliberate manipulation, but vulnerable to changes from external causes ..." (06/18/11)

http://tinyurl.com/3sdbg2l  

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An open statement to law enforcement

June 12, 2011
posted by

J. Neil Schulman J. Neil Schulman @ Rational Review
by J. Neil Schulman  

"I’m saying this right up front because I have no desire to have a SWAT team raid the home where I am writing this. If you want to interview me for an investigation, my contact information is publicly available here. Make an appointment with me and I’ll willingly tell you everything I know, which — by the way — I just did." (06/11/11)

http://tinyurl.com/3kbjdl7  

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Bitcoin and agorism

June 9, 2011
posted by

Liberale et Libertaire
by dL  

"Two days ago, on the show, What’s Trending, Bitcoin developer Jeff Garzik remarked that despite the opinions of the libertarian user base of Bitcoin, the success of Bitcoin required cooperation with government regulation. This echoes the opinions of Bitcoin technical lead, Gavin Andresen." (06/09/11)

http://rulingclass.wordpress.com/2011/06/09/bitcoin-and-agorism/  

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Bitcoin: With enemies like Schumer, who needs friends?

June 7, 2011
posted by

C4SS Center for a Stateless Society
by Kevin Carson  

"Actually, Schumer’s Barney Fife act could be the best thing that ever happened to Bitcoin. Back in March, an earlier target of Schumer’s grandstanding was Fuzz Alert, a smartphone application that alerts drivers to speed traps, speeding and red light cameras, and sobriety checkpoints. After Schumer drew attention to the app, its sales doubled. Maybe he can do a similar favor for the darknet economy. The more he vents his impotent rage, the more public attention he draws to the fact that government attempts to suppress Silk Road and Bitcoin are, well, impotent." (06/07/11)

http://c4ss.org/content/7361  

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Chuck Schumer’s new war on Bitcoin

June 7, 2011
posted by

Liberale et Libertaire
by dL  

"[U]nfortunately for Chuck, this ain’t Four Loco. Ordering the Feds to shutdown the website and 'seize the domain' was comedic display of Mussolini buffoonery. I suppose it’s sad that no one in the press corp[s] had the technical wherewithal to challenge Schumer’s stupidity, but it’s amusing that Schumer’s aide, the one that set up the TOR client to access the site, didn’t have the cojones to prevent Chuck from looking like a moron. But then again, I suppose it’s probably career suicide to stand between Schumer’s moral outrage and a TV camera." (06/06/11)

http://tinyurl.com/68hyrxj  

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Bitcoin again

May 26, 2011
posted by

Libertarian Alliance Libertarian Alliance
by Howard R. Gray  

"What is the point of a fiduciary currency when there is no faith left? Bitcoin, or one of its competitors or co operators, may well create a way to survive a valueless currency when the moment arrives. Legal tender laws could be amended to accommodate novel currencies and money, which may well be the only way a government, can survive a currency melt down without a political meltdown. I suspect we are about to find out soon how all this will work." (05/26/11)

http://libertarianalliance.wordpress.com/2011/05/25/bitcoin-again/  

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Rumor: Police mistake Bitcoin mine op for marijuana grow

May 23, 2011
posted by

Time    

"There are unconfirmed reports today that at least one Bitcoin miner has been raided by police because unusually high power consumption led authorities to suspect that he was clandestinely growing marijuana. ... Like marijuana growing operations, Bitcoin mining runs up high electricity bills and produces a lot of heat because it employs super-fast computers." (05/23/11)

http://tinyurl.com/3d9w6nx  

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