BitCoin - Virtual Currency
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Bitcoin hacked 06/2011
<img class="alignnone size-full wp-image-26784" title="xlarge_0601_silkroadnew" src="http://www.wired.com/images_blogs/threatlevel/2011/06/xlarge_0601_silkroadnew.jpg" alt="" width="640" height="360" /> Making small talk with your pot dealer sucks. Buying cocaine can get you shot.
Tor (originally short for The Onion Router ) [ 5 ] is a system intended to enable online anonymity .
The effort includes secretive projects to create independent cellphone networks inside foreign countries, as well as one operation out of a spy novel in a fifth-floor shop on L Street in Washington, where a group of young entrepreneurs who look as if they could be in a garage band are fitting deceptively innocent-looking hardware into a prototype “Internet in a suitcase.”
The lesson here is that enough of you ask me about a topic, eventually I will blog it. Here is Wikipedia on Bitcoin — it’s less than transparent, which I take to be informative in its own right. If you are late to the party, here is the confusing opening paragraph:
My friend Jerry Brito is one of the best-connected and most insightful observers of the Internet I know, so when he starts talking up an Internet trend , I pay attention. But after reading his case for Bitcoin, a new digital currency, I remain a skeptic.
Yesterday I questioned whether we should expect demand for Bitcoins to be stable over the long run.
Late last year, after WikiLeaks began releasing its trove of State Department cables, many individuals sought to show solidarity with the group by making a donation. They found, however, that many payment processors would not remit money to WikiLeaks, some say as a result of U.S. government pressure. PayPal even froze the group’s account so it couldn’t access funds already collected.
The $100M USD+ Bitcoin market is experiencing its first major inflationary event. There's great volatility, but since Friday's drop of 15 percent, the trend has been a reduction in value versus the USD. (Source: Mt.
Recent weeks have been exciting for a relatively new kind of currency speculator. In just three weeks, the total value of a unique new digital currency called Bitcoin has jumped four times, to over $40 million.
MILTON FRIEDMAN famously called for the abolition of the Federal Reserve, which he thought ought to be replaced by an automated system which would increase the money supply at a steady, predetermined rate.