bitcoin

3

A libertarian nightmare: Bitcoin meets Big Government

http://www.salon.com

Over the years, Bitcoin has experienced ups and downs; the currency has been targeted by hackers and thieves and botnets and been victim to more than one embarrassing software glitch. But it has persevered, and this week, one can fairly say that Bitcoin came of age. On Monday, the U.S. Treasury’s Financial Crimes Enforcement Network released its first “guidance” as to how “de-centralized virtual currencies” should fit into the larger regulatory regime under which currencies of all kinds are required to operate.

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Cyphase's picture
Created by Cyphase 1 year 3 weeks ago – Made popular 1 year 3 weeks ago
Category: Money   Tags:
6

US regulator: Bitcoin exchanges must comply with money-laundering laws

http://arstechnica.com

The federal agency charged with enforcing the nation's laws against money laundering has issued new guidelines suggesting that several parties in the Bitcoin economy qualify as Money Services Businesses under US law. MSBs must register with the federal government, collect information about their customers, and take steps to combat money laundering by their customers. The new guidelines do not mention Bitcoin by name, but there's little doubt which "de-centralized virtual currency" the Financial Crimes Enforcement Network (FinCEN) had in mind when it drafted the new guidelines.

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Cyphase's picture
Created by Cyphase 1 year 4 weeks ago – Made popular 1 year 4 weeks ago
Category: Regulation   Tags:
5

FinCEN sounds death knell for US based Bitcoin businesses

http://irdial.com

It seems that FinCEN has finally decided to opine on Bitcoin, without naming it specifically. This US pronouncement spells death to all “compliant” US Bitcoin companies that choose to remain based in the USA.

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Deslock Darkstar's picture
Created by Deslock Darkstar 1 year 4 weeks ago – Made popular 1 year 3 weeks ago
Category: Money   Tags:
8

Global Economics Lesson From Bitcoin - Business Insider

http://www.businessinsider.com

Limiting supply has clearly been a huge plus for the BTC. Becoming known as a currency for illegal drugs and gambling is more problematic, of course. But let’s not forget that the U.S. Treasury printed 3 billion $100 bills in the 2012 Fiscal Year. Most of those (the Federal Reserve estimates 80%) go overseas and many of them simply facilitate the global drug and arms trade, not to mention tax evasion and human trafficking. So the BTC’s growing role in the same types of business might qualify it for “Reserve currency” status sooner than anyone thinks.

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roryn3kids's picture
Created by roryn3kids 1 year 4 weeks ago – Made popular 1 year 4 weeks ago
Category: Money   Tags:
3

US plans to allow spy agencies to monitor every citizen’s finances

http://rt.com

Washington is reportedly considering opening all US financial records to national intelligence agencies in order to prevent future crimes.

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awagele's picture
Created by awagele 1 year 4 weeks ago – Made popular 1 year 4 weeks ago
Category: Money   Tags:
3

Bitcoin 'Glitch' Sparks 23% Flash Crash

http://www.zerohedge.com

The unregulated digital world of Bitcoins suffered another flash-crash last night. According to Ars Technica, the 23% plungefest in the value of the digital currency (the second in a week) was due not to Waddel & Reed, not HFT algos, but 'forking' Cryptographic algos gone wild agreeing on different (legacy) keys as being correct - akin to finding Tungsten in your Gold bars (and hence the drop in the value). This latest glitch is different from the problem that caused Bitcoin prices to briefly crash to zero in June of 2011.

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STACKS's picture
Created by STACKS 1 year 5 weeks ago – Made popular 1 year 5 weeks ago
Category: Money   Tags:
3

Erowid Accepting Bitcoin Donations

http://www.erowid.org

In case you hadn't seen, Erowid is accepting donations with Bitcoin. I haven't heard it mentioned recently (that I remember), but it used to be a favorite website on FTL. From the site: "Erowid is a member-supported organization providing access to reliable, non-judgmental information about psychoactive plants, chemicals, and related issues. We work with academic, medical, and experiential experts to develop and publish new resources, as well as to improve and increase access to already existing resources.

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Cyphase's picture
Created by Cyphase 1 year 5 weeks ago – Made popular 1 year 5 weeks ago
Category: Commodities / Metals   Tags:
3

Hackers Pull Off $12,000 Bitcoin Heist of Bitinstant

http://www.wired.com

A Bitcoin transaction services company says that hackers broke into one of its brokerage accounts last week, nabbing more than $12,000 worth of the digital currency. That attack knocked Bitinstant offline over the weekend. The company says that while it lost Bitcoins, no customers were affected by the hack.The criminals were able to take control of Bitinstant’s internet domains by convincing its domain registrar, Site5, to hand over control of the company’s Domain Name Service.

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assawyer's picture
Created by assawyer 1 year 5 weeks ago – Made popular 1 year 5 weeks ago
Category: Commodities / Metals   Tags:
4

Why cyber currency Bitcoin is trading at an all-time high

http://money.cnn.com

Bitcoin sounds like something from science fiction: A purely digital currency, created by an anonymous hacker, that operates outside the world's traditional banking systems. The four-year-old currency is very real, though, and it's trading an all-time high, tripling in value in the last two months alone. One bitcoin is was worth about $40 U.S. dollars on Tuesday, and surged on Wednesday to nearly $49. That's up from around $13 in January, and 5 cents in 2010, according to Mt. Gox, the bitcoin market's main exchange.

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Cyphase's picture
Created by Cyphase 1 year 5 weeks ago – Made popular 1 year 5 weeks ago
Category: Money   Tags:
3

Bitcoin Comes to World's Largest Online Poker Network

http://pokerfuse.com

WinPoker.com, on the iPoker network, is adding Bitcoin support for deposits and withdrawals, pokerfuse can exclusively reveal. It is the first time a poker room on any major online poker network has added first-class Bitcoin support to the cashier. Deposits can be made by sending BTC directly through the cashier on the WinPoker website to the room’s Bitcoin wallet. As soon as the system receives the funds—typically within ten minutes—the money will be credited to the player’s account. If players store their wallets on smartphones, depositing can be as simple as scanning a QR code.

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Cyphase's picture
Created by Cyphase 1 year 5 weeks ago – Made popular 1 year 5 weeks ago
Category: Commodities / Metals   Tags:

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