Posts Tagged ‘ Bitcoin ’

Bitcoin: The other crash?

January 17, 2016
posted by

Anthony Wile The Daily Bell
by Anthony Wile  

"People are grappling with market turmoil after Friday's equity slide, but there was a good deal of action in another financial instrument: Bitcoin. Bitcoin moved down some 10 percent on Friday after one of its significant developers, Mike Hearn, claimed in a startling blogpost that the cryptocurrency was now a failure. Hearn used a publishing platform, Medium, to make his announcement, writing, 'Despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly.'" (01/16/16)

http://www.thedailybell.com/editorials/36741/Anthony-Wile-Bitcoin-The-Other-Crash/  

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Federally funded think tank explains how US government could attack decentralized digital currencies

January 14, 2016
posted by

Liberty Blitzkrieg Liberty Blitzkrieg
by Michael Krieger  

"When government devolves into little more than a Banana Republic-style oligarchy burgeoned by a cadre of media propagandists and corrupt politicians, the only objective of said government is to secure, protect and grow its wealth and power. In such circumstances, which are the historical norm not the exception, 'the people' come to be seen as the enemy by government and the oligarchy that controls it. Indeed, this is the unfortunate state of affairs in which we find ourselves today. Decentralized virtual currencies pose a clear threat to government control, which is why their deployment concerns the status quo so much. Some of these concerns were outlined in a recent RAND Corporation report titled, 'National Security Implications of Virtual Currency.'" (01/13/16)

http://libertyblitzkrieg.com/2016/01/13/federally-funded-think-tank-suggests-u-s-government-actively-attack-decentralized-digital-currencies/  

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EU: Suspected members of Bitcoin extortion group DD4BC arrested

January 13, 2016
posted by

ZDNet ZDNet    

"European law enforcement has arrested and detained two alleged members of a hacking group linked to DDoS attacks and Bitcoin extortion, DD4BC. Europol says the investigation, under the name Operation Pleiades, led to the arrest of one main target and another suspect being detained. ... DD4BC -- otherwise known as Distributed denial-of-service for Bitcoin -- is a group dedicated to extorting virtual currency from companies. Emerging in the middle of 2014, DD4BC used the threat of DDoS attacks and held companies to ransom unless they agreed to pay a fee in Bitcoin." (01/13/16)

http://www.zdnet.com/article/suspected-members-of-bitcoin-extortion-group-dd4bc-arrested/  

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Leave Satoshi alone!

December 15, 2015
posted by

Andrea O'Sullivan Reason
by Andrea Castillo  

"Another day, another Satoshi. This month, writers for both WIRED Magazine and Gizmodo threw their hats into the unseemly ring of wide-eyed scribblers on the hunt for Bitcoin's creator. And like multiple journalists before them, they failed miserably. Satoshi will not be found until Satoshi wants to be found -- which is precisely the way it should be." (12/15/15)

https://reason.com/archives/2015/12/15/leave-bitcoin-creator-satoshi-alone  

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Searching for Satoshi Nakamoto and hunting Bitcoin

December 10, 2015
posted by

CounterPunch
by Binoy Kampmark  

"Irrespective of whether Wright is the one, WikiLeaks puts its finger on a famed cultural and political tendency in Australia. The Australian 'tall poppy' syndrome might be at work -- the price for success is punishment. Sydney-based scribbler J.R. Hennessy would lament that Australians were 'responsible for WikiLeaks AND Bitcoin. Our primary export is weenie libertarianism.' Corruption breeds alternatives. Virtual currencies, like any innovation, come with their problems, but they also come with a radical assortment of means to conduct transactions between citizens. A currency mined algorithmically, without a central bank or backing assets, smacks of revolution." (12/10/15)

http://www.counterpunch.org/2015/12/10/searching-for-satoshi-nakamoto-and-hunting-bitcoin-2/  

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Australia: Police raid home of reported Bitcoin creator

December 9, 2015
posted by

Reuters    

"Australian Federal Police raided the Sydney home on Wednesday of a man named by Wired magazine as the probable creator of cryptocurrency bitcoin, a Reuters witness said. The property is registered under the Australian electoral role to Craig Steven Wright, whom Wired outed as the likely real identity of Satoshi Nakamoto, the pseudonymous figure that first released bitcoin's code in 2009. ... The Australian Federal Police said in a statement that the officers' 'presence at Mr. Wright's property is not associated with the media reporting overnight about bitcoins.' The AFP referred all inquiries about the raid to the Australian Tax Office, which did not immediately respond to requests for comment. ... as an early miner of bitcoins, Nakamoto is also sitting on about 1 million bitcoins, worth more than $400 million at present exchange rates, according to bitcoin expert Sergio Demian Lerner." (12/08/16)

http://www.reuters.com/article/us-australia-bitcoin-exclusive-idUSKBN0TS0AB20151209  

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Bitcoin: The fearmongers’ dirty little secret

December 2, 2015
posted by

Thomas L. Knapp William Lloyd Garrison Center for Libertarian Advocacy Journalism
by Thomas L Knapp  

"Bitcoin in particular and cryptocurrencies in general keep the political class lying awake at night. Terrorism is just an easy hook to publicly hang their fear on without revealing that fear's real roots. When there's no convenient blood on the floor to point to, they purse their lips and lecture us on fraud, identity theft and other nastiness they pretend to protect us from. Why do our masters really fear unregulated, unsupervised, unlicensed transaction systems? Because they fear anything they can’t control. And so they should." (12/01/15)

http://thegarrisoncenter.org/archives/3709  

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Paris terror not funded by Bitcoin

November 30, 2015
posted by

The Libertarian Enterprise The Libertarian Enterprise
by Jim Davidson  

"[T]ransactions on the Bitcoin blockchain are not untraceable, they are permanently published facts recorded by everyone running the Bitcoin Core software. You can look up transactions at various web sites including Blockchain.info. So if there is evidence of ISIS/Daesh using a particular Bitcoin address, one can get quite a lot of information about what happened -- where the Bitcoin came from, how much of it there was, and any other information included with the transaction. ... Where would ISIS/Daesh be getting their Bitcoins? They must find a buyer for oil somewhere, right? Who is this mysterious buyer of oil paying in Bitcoin? The blockchain ought to show some evidence for it." (11/29/15)

http://www.ncc-1776.org/tle2015/tle849-20151129-05.html  

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The war on encryption and Bitcoin — nothing to do with terrorism, everything to do with state control

November 23, 2015
posted by

Liberty Blitzkrieg Liberty Blitzkrieg
by Michael Krieger  

"Politicians and intelligence agencies throughout the Western world are currently engaged in an all out, shameless propaganda campaign to exploit the recent terror attacks in Paris to convince the citizenry that it should relinquish privacy for absolutely no reason. The primary targets of the post-attack push have been encryption generally, and Bitcoin specifically. Of course, you don't need me to tell you that these are two sides of the same coin. Both strong encryption for communication, and Bitcoin for transferring value, provide a level of freedom and dynamism outside of the oligarch-controlled, centrally planned, feudal global economic system. As such, these two tools must be demonized and eradicated to the extent possible." (11/20/15)

http://libertyblitzkrieg.com/2015/11/20/the-war-on-encryption-and-bitcoin-nothing-to-do-with-terrorism-everything-to-do-with-state-control/  

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EU: Politicians plan Bitcoin crackdown because TERRORISM

November 20, 2015
posted by

Reuters    

"European Union countries plan a crackdown on virtual currencies and anonymous payments made online and via pre-paid cards in a bid to tackle terrorism financing [sic] after the Paris attacks, a draft document seen by Reuters said. EU interior and justice ministers will gather in Brussels on Friday for a crisis meeting called after the Paris carnage of last weekend. They will urge the European Commission, the EU executive arm, to propose measures to 'strengthen controls of non-banking payment methods such as electronic/anonymous payments and virtual currencies and transfers of gold, precious metals, by pre-paid cards,' draft conclusions of the meeting said." [editor's note: They're not trying to "tackle terrorism financing," they're just trying to keep their tax slaves on the chain - TLK] (11/09/15)

http://www.reuters.com/article/2015/11/19/us-france-shoooting-eu-terrorism-funding-idUSKCN0T81BW20151119#kAWX5Ft0P71Zluu0.97  

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Slayer of empires: How Bitcoin could become far bigger than you think

November 16, 2015
posted by

Paul Rosenberg Freeman's Perspective
by  

"Paul Rosenberg was recently invited to the Bitcoin Investor's conference in Las Vegas as a keynote speaker. This is the recording of his speech, given October 30th, 2015, at the D Hotel & Casino. We think you’ll enjoy it." [Flash video] (posted 11/16/15)

http://www.freemansperspective.com/slayer-of-empires-how-bitcoin-could-become-far-bigger-than-you-think  

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Bitcoin: Let it fork!

November 11, 2015
posted by

Paul Rosenberg Freeman's Perspective
by Paul Rosenberg  

"There has been a lot of commotion in the Bitcoin world lately. A few of the core developers (an informal group that maintain the program) made a big splash by saying that the 'block size' (a technical issue) had to be increased or else horrible problems would ensue. They're calling their plan 'Bitcoin XT.' At first, I simply didn't want to be bothered with this. Just about everything that passes across a plasma screen these days is sold as a major, life-threatening crisis. I ignore as much of it as I can. But after hearing a bit more about this issue from several friends, I decided to look into it a bit further." (11/10/15)

http://www.freemansperspective.com/bitcoin-let-fork/  

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Interview with Andreas Antonopoulos on the future of Bitcoin and digital currencies

October 29, 2015
posted by

The Cobden Centre
by Max Rangeley  

"Here we have an industry banking that has had almost no technology competition in the last 50 years. And the reason for that is because the regulators have effectively shielded the banking industry from technology competition. And along comes Bitcoin and you have an opportunity here to benefit customers by competitively disrupting one of the most entrenched insular corrupt and expensive industries, and backwards industries that exists, and what do the state regulators in the US do? They give them a helping hand to avoid competition from Bitcoin." (10/28/15)

http://www.cobdencentre.org/2015/10/interview-with-andreas-antonopoulos-on-the-future-of-bitcoin-and-digital-currencies/  

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Visa, Citi, Nasdaq invest $30 million in blockchain startup Chain.com

September 10, 2015
posted by

Forbes    

"In another sign that Wall Street sees potential in Bitcoin technology, Visa, Nasdaq, Citi and other industry players invested $30 million in Chain.com, a blockchain developer platform that serves an enterprise market. Additional investors include Capital One, Fiserv and French telecom Orange, the last of which hints at the potential for the blockchain to power mobile payments. The company also announced that former American Express CEO Jim Robinson III has joined Chain.com's Board of Directors." [editor's note: Unfortunately, investors of this type will continue to pull cryptocurrency startups inside the government regulatory tent; the real future of the blockchain is in destroying that tent - TLK] (09/09/15)

http://tinyurl.com/nw59dla  

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After Silk Road, online illicit marketplaces for drugs and weapons grow, with more to come

August 25, 2015
posted by

JD Tuccille Reason
by JD Tuccille  

"Well, the online marketplace for illicit goods' competitors and successors live, anyway. The original Silk Road and its operator were taken down by the United States federal government in an over-the-top campaign that featured stunningly corrupt federal agents. Beyond its employees' sticky fingers, the federal government almost certainly hacked servers hosted overseas in the course of its efforts and then shrugged its institutional shoulders over the legal status of the tactic. But even as the feds brutally targeted Ross Ulbricht and his underground marketplace, new sites proliferated on the anonymous TOR network to more than replace what the U.S. Government had shut down." (08/25/15)

http://tinyurl.com/pklc89z  

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Japan: MtGox CEO Karpeles arrested

August 3, 2015
posted by

news.com.au [Australia]    

"Mark Karpeles, the head of the collapsed MtGox Bitcoin exchange who was arrested in Tokyo, is facing fresh allegations that he misused $US8.9 million in customers' deposits, Japanese media reported Sunday. French-born Karpeles, 30, was arrested on Saturday after a series of fraud allegations led to the Tokyo-based exchange's spectacular collapse last year and hammered the digital currency's reputation. Karpeles is suspected of manipulating data on the exchange’s computer system in 2013 to artificially create about $US1.0 million in Bitcoins, while police were also investigating his possible involvement in a massive loss of the virtual currency in 2014." (08/03/15)

http://tinyurl.com/pj5qocz  

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The financial crisis in Greece shows why we need Bitcoin

July 20, 2015
posted by

Students For Liberty
by Elias Garcia  

"By no means is Bitcoin a perfect money. If used poorly, a determined assailant can trace your activity online. If you do not use an online service for storage and unintentionally lose the hard drive storing your Bitcoins, you lose the money forever. But for all of its flaws, it provides an outlet for the high pressure situation found in Greece, and for all those prone to government and private theft alike." (07/17/15)

http://tinyurl.com/nqnvvp2  

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Bitcoin may be too late for Greece, but not other countries headed in that direction

July 15, 2015
posted by

JD Tuccille Reason
by JD Tuccille  

"Basically, Greeks who waited until the government clamped down to try to get their money out are in no position to purchase Bitcoin -- or anything else. With cash machines dispensing only €60 and overseas payments restricted, they're stuck. Reason's Jim Epstein recently reported that the country's only bitcoin-dispensing ATM got exactly no action after the banks were closed. But people obviously do want alternatives to capital controls, rumored government grabs of bank deposits, and a reversion to a drachma that would almost certainly plunge in value." (07/14/15)

http://tinyurl.com/ovdobpy  

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Ripple Labs quietly suspends new signups on Ripple Trade

July 13, 2015
posted by

NewsBTC    

"Ripple Labs, the company that was expected to offer a stiff competition to Bitcoin with its Ripple (XRP) digital currency and Ripple Protocol seems to have fallen behind. Thanks to the recent crackdown by US Financial Crimes Enforcement Network (FinCEN) where Ripple was slapped with a $700,000 fine for non-compliance of regulations while operating as a money services business and selling its virtual currency. FinCEN had found that the parent company of Ripple Labs -- XRP II, LLC had willfully violated the Banking Secrecy Act by not implementing effective Anti-Money Laundering (AML) program. Since the enforcement drive, Ripple has suspended all new signups on Ripple Trade." (07/12/15)

http://tinyurl.com/nb3r8yo  

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You can buy movie tickets with Bitcoin, and you have “Dope” to thank

July 8, 2015
posted by

Students For Liberty Students For Liberty
by Anne Butcher  

"If you've spent enough time in libertarian social circles, you've probably heard someone mention how we need more libertarians in show business. The progressives run Hollywood and it's absolutely ruining us! Well, it's unclear whether or not Rick Fumuyiwa and the good people over at Open Road Films identify as libertarian, but they're certainly pushing the industry in a slightly more libertarian direction. Fumuyiwa's movie Dope, a breakout hit at this year's Sundance Film Festival, became the first movie to sell tickets for Bitcoin last month. Now, Movietickets.com offers Bitcoin as a payment option at over 900 U.S. theaters for ALL movies showing at those theaters." (07/08/15)

http://tinyurl.com/nrrj3cz  

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Money will be digital — but will it be free?

July 2, 2015
posted by

Foundation for Economic Education Foundation for Economic Education
by Andreas M Antonopoulos  

"Bitcoin offers a glimpse into the future of money -- a purely digital form of money that is individual, private, global, and free (free as in speech, not as in beer). Bitcoin is often compared with the existing banking system, juxtaposing its futuristic capabilities with the slow, antiquated, and cumbersome world of wire transfers, checks, 'banking hours,' and restrictions. But the future will not be a choice between 'old money' and cryptocurrency. Instead, it will be a choice between two competing visions of digital money: one based on freedom and choice, the other based on control and surveillance, a dystopian totalitarian system of control from which no one can escape. We are now at the crossroads, and we must choose the future of currency wisely." (07/01/15)

http://tinyurl.com/pzqxbf2  

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Inside the mind of the man who could be Bitcoin’s creator

June 17, 2015
posted by

Max Borders Foundation for Economic Education
by Max Borders  

"[Nick] Szabo has written extensively on the history of law. In particular, he writes about Anglo-Saxon emergent law, which collided eventually with the 'master-servant' law of Justinian's Rome. And Szabo argues that what we have today in the United States is but the shrinking vestige of common law operating within a growing body of Byzantine statutes. All this might sound esoteric, but it has profound implications for cryptocurrencies, smart contracts, digital property titles, dispute resolution, and other potential applications of the blockchain at the heart of bitcoin -- especially if Szabo is, in fact, the developer who set about writing source code for peer-to-peer law." (06/16/15)

http://tinyurl.com/q69szof  

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Bitcoin company ditches New York, blaming new regulations

June 14, 2015
posted by

Fortune    

"It's been barely a week since the BitLicense was released, and it has already driven a bitcoin startup out of New York. ShapeShift.io, a bitcoin startup that allows people to quickly exchange digital currencies without an account or arduous signup process, has completely cut off service to New York in response to the state's new regulatory policy for digital currency businesses. ... 'Bitcoin and blockchain technology have enabled a new standard of financial privacy and consumer protection ... Unfortunately, in spite of the technological achievements that now protect consumers, some jurisdictions have legally mandated the continued extraction of sensitive private information.' Then it lists those jurisdictions; they are New York State and North Korea." (06/11/15)

https://fortune.com/2015/06/11/bitcoin-shapeshift-new-york-bitlicense/  

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Bitcoin’s long-term viability threatened by block size limits

June 10, 2015
posted by

Reason Reason
by Andrea Castillo  

"The popular cryptocurrency Bitcoin is fast approaching a critical technical challenge that will fundamentally shape the course of its future. If unaddressed, an arbitrary protocol quirk implemented by Bitcoin creator Satoshi Nakamoto as a short-term security measure could soon undermine Bitcoin's scalability, usability, and even its long-term viability -- although, as always, opinions differ. It's a bit of a complex issue, but one that Bitcoin enthusiasts should pay attention to. The final outcome of this Bitcoin block size limit debate will affect how easy it will be to use Bitcoin for common everyday transactions and complex experimental transfers alike." (06/09/15)

http://reason.com/archives/2015/06/09/bitcoin-block-size-limit-debate  

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Nasdaq will start using Bitcoin technology

May 12, 2015
posted by

CNN Money    

"The Nasdaq stock exchange is tapping Bitcoin's powerful new transaction technology to create a more secure, efficient system to trade stocks. Most people have heard of Bitcoin (XBT) as a system of electronic money -- one that hasn't really caught on yet. But what gets less attention is blockchain, the technology that powers the Bitcoin system. It's a computer program that automatically processes transactions and creates a perfect, reliable digital record. High-tech bankers are starting to realize this could revolutionize trading. Nasdaq (NDAQ), a favorite exchange among many technology companies, is making the first move." (05/11/15)

http://money.cnn.com/2015/05/11/technology/nasdaq-bitcoin-technology/  

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