Tag Archives: Bitcoin

Bitcoin reaches all-time high

Source: USA Today

"What's backed by no government, created by a mysterious, unknown inventor and reached an all-time high Thursday? If you said the cryptocurrency bitcoin, you're clearly in the know. Bitcoin, launched in 2009, is decentralized digital currency that is traded from person-to-person, rather than through banks, and has no issuing or regulating country. On Thursday it hit an all-time high of $1,163.59 according to CoinDesk.com, which tracks bitcoin prices. The previous high was $1,129.86, touched on January 4." (02/23/17)


The Davos plan for your cash and Bitcoin

Source: Bitcoin.com
by Wendy McElroy

"The war on cash is a war to eliminate physical money and drive all currency exchanges into the digital realm. For some bitcoin enthusiasts, this signals greater legitimacy and wider adoption. But for the war on cash to achieve the goals desired by states and central banks, the digital realm must be under state control and tightly monitored by authorities. Bitcoin, as a vehicle of personal freedom and independence, will be driven underground or gutted by regulation. To the extent it can, the EU will cripple its competitors — the free market and dissident individuals — even if it needs to co-opt internet access in the manner of an emerging nation." (02/15/17)


The many ways you can book your travels using Bitcoin

Source: Bitcoin.com
by Jamie Redman

"Many bitcoiners like to travel. In 2017 there are ways for people to use their bitcoins to book flights, car rentals, and hotels. Indeed, there are many options available to purchase any travel amenities imaginable without having to convert bitcoin to fiat." (02/15/17)


How humans now use the blockchain to declare love and marriage

Source: Bitcoin.com
by Justin Connell

"'For better or worse, til' death do us part, because the blockchain is forever,' says David Mondrus about the marriage upon which he embarked with his wife, Joyce, whom he met in the Philippines. Joyce and David Mondrus were married in 2014 … on the blockchain. The blockchain represents a decentralized and public ledger constantly tracking all bitcoin transactions. It's distributed all around the world on thousands of computers. The blockchain keeps track of transactions, but it is also possible to include metadata into the record of a transaction. Attendees of Joyce and David’s wedding were shown a QR code linking to the transaction wherein the data associated with the marriage was recorded. They got the idea after having to deal with the bureaucratic gridlock that comes with a binational marriage." (02/14/17)


Could Bitcoin affect emerging market monetary policy?

Source: Bitcoin.com
by Justin Connell

"Federal Reserve Bank of St. Louis Vice President, Dr. David Andolfatto, is optimistic about Bitcoin, as an alternative currency could impose limitations on the ability of governments to raise revenue through money creation. … 'What people do in high inflationary and hyperinflationary circumstances is seek alternative or competing currencies,' Dr. Andolfatto tells Bitcoin.com. 'This could be the U.S. dollar, gold and things like that. Governments and central banks often then impose currency restrictions, maybe by implementing laws keeping people from opening USD denominated bank accounts.' It's not so easy, however, for a money printing central bank to stymie capital inflows into digital currency." (02/13/17)


Cryptoanarchy Institute to refuse following EET Law: Interview with Martin Sip

Source: Bitcoin.com
by Jamie Redman

"Bitcoin has foundations in the cypherpunk movement and the philosophy of cryptoanarchy. In 2014, a group of artists and hackers formed the nonprofit Cryptoanarchy Institute Paralelni Polis, in Prague. The organization operates from a multi-level building and caters to decentralized technologies like Bitcoin and 3D printing in a coworking atmosphere. Bitcoin.com recently chatted with Martin Sip, project coordinator of Paralelni Polis, to discuss the Czech Republic government's stance towards cryptocurrency. Sip also gives our readers some insight into the anti-state principles Paralelni Polis adheres to and how the organization aims to achieve its goals through technology and the tools of decentralization." (02/12/17)


Bitcoin, stop apologizing for victimless crime

Source: Bitcoin.com
by Wendy McElroy

"Bitcoin is a freedom currency in a manner that isn't obvious and which is virtually undiscussed. Bitcoin is commonly linked to victimless crime, but the dynamic reaches far deeper than merely freeing individuals to buy goods and services, unsavory or not. Victimless crime is the lifeblood of the surveillance state without which big government could not function. Victimless crime creates the surveillance state. The arch enemy of total scrutiny is the privacy and economic anonymity of cash or digital currencies. This means something as tiny as the pseudonymous transfer of one bitcoin is a threat to the state's very existence." (02/07/17)


Venezuela: Main Bitcoin market shuts down amid arrest of miners

Source: PanAm Post

"Venezuelan authorities detained four men suspected of bitcoin mining, forcing the country's main exchange platform to temporarily shut down operations and lose its bank account. On Friday, February 2, authorities confiscated 11,000 computers belonging to bitcoin miners. Mining is the process of adding transaction record to bitcoin's purchase history to make it seem like they had really taken place." (02/06/17)


US Federal Reserve staffer fined for mining Bitcoin at work

Source: CoinDesk

"A former employee of the Federal Reserve Board of Directors has [been] fined $5,000 and put on probation after being caught mining bitcoins on a server owned by the US central bank. The Fed's Office of the Inspector General said today that Nicholas Berthaume, who previously worked as a communications analyst for the board before being fired in light of the incident, had been placed on 12 months of probation after accepting a plea deal on 27th January. He plead guilty to one count of unlawful conversion of government property, a misdemeanor." (01/30/17)


How sustainable will Bitcoin be after the apocalypse?

Source: Bitcoin.com
by Jamie Redman

"Over the past few years, worldwide fears of an apocalypse-type scenario have increased quite a bit. The trend is likely to be associated with global economic turbulence, failed central planning, and the rise of tyrannical governance. With people believing doomsday may come to pass, many are hoarding various commodities like precious metals, and now even bitcoins. However, people wonder how sustainable the Bitcoin network will be throughout a global apocalyptic crisis." (01/29/17)