In One Month, Everyone In Iceland Will Own Cryptocurrency. The cryptocurrency craze spun into a new realm of ridiculous with Kanyecoin, Dogecoin, Ron Paul Coin and the bounty of other clone-coins that sprung up to ride the Bitcoin wave.
But the latest altcoin to enter the market, Auroracoin, wants to take the futurist trend back to its cryptoanarchist roots. Ripple. Bitcoin 2.0: Can Ripple Make Digital Currency Mainstream? It has been a nail-biting year for people who hold Bitcoins, an open-source digital currency that has quickly gained traction in the tech community.
Last June, Bitcoins were worth $5. Bitcoins.com. Bitcoin Charts. Virtual cash exchange becomes bank. 7 December 2012Last updated at 12:07 ET The deal means more protection for cash created by bitcoin dealing A currency exchange that specialises in virtual cash has won the right to operate as a bank.
Bitcoin-Central got the go-ahead thanks to a deal with French financial firms Aqoba and Credit Mutuel. The exchange is one of many that swaps bitcoins, computer generated cash, for real world currencies. The change in status makes it easier to use bitcoins and bestows national protections on balances held at the exchange. Federal protection Bitcoins, and the global network of computers that supports them, first appeared in 2009 and since then it has become a very widely used alternative payments system.
Under European laws, the deal means Bitcoin-Central becomes a Payment Services Provider (PSP) that has an International Bank ID number. Get ready for BitInstant's Bitcoin debit card - Aug. 22. BitInstant employees Erik Voorhees, Charlie Shrem and Ira Miller are building real-world links for the Bitcoin virtual currency.
NEW YORK (CNNMoney) "People are always asking, 'Well, what can I spend Bitcoins on? '" says Erik Voorhees, BitInstant's head of communications. "You can finally just say, 'Everything.'" The Bitcoin economy sounds like something out of science fiction. New coins are created by "mining," a hardware-intensive task that requires using powerful computer systems to solve complex algorithms. Why cyber currency Bitcoin is trading at an all-time high - Mar. 6, 2013. NEW YORK (CNNMoney) 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. On that and other trading sites, buyers can swap their digital coins for cold, hard cash. Watchers of the alternative currency attribute some of bitcoin's rise to the recent decision by several popular-in-geek-circles vendors to accept the coins -- most notably, blog hosting site Wordpress and the online community Reddit. Bitcoin Explained. What is Bitcoin?
Bitcoin Presentation - Business Insider. Game over, Bitcoin. Long live human-based currencies! While being a tremendous proof of concept, the distributed cryptocurrency Bitcoin is fundamentally flawed as an alternative money system, critics say. It is now time for truly radical monetarists to build on this technical experiment and move to the next level of the monetary revolution: a truly human-based digital monetary system. Researchers Use Game Theory to Identify Potential Problems for Bitcoin. One thing cannot be disputed about the person (or persons) responsible for creating Bitcoin: they were skilled in math, and expert at coding.
Five years after the Bitcoin software was first released, no major fixes have been needed to the core code, which uses cryptography to generate and transfer virtual money. Yet signs are emerging of more subtle flaws in the vision of Satoshi Nakamoto (which may or may not be a pseudonym), with analysis suggesting the rules governing how Bitcoin operates as a currency may be far from perfect. Some researchers claim that these rules leave room for cheats to destabilize Bitcoin. Others have concluded that major changes to the currency’s rules will be needed as the number of bitcoins in circulation increases. Bitcoin Proves The Libertarian Idea Of Paradise Would Be Hell On Earth.
Libertarians love Bitcoin. Online Cash Bitcoin Could Challenge Governments, Banks. 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. Bitcoin Obliterates “The State Theory Of Money” Once you get past the childish title, the recent bitcoin piece from Karl Denninger raises some issues that warrant consideration from bitcoin economists.
Denninger is an intelligent student of the capital markets and his essay deserves a serious reply. The economic contribution of his essay is that it represents the thesis advanced by German economist Georg Friedrich Knapp in The State Theory of Money (1924), an expose advocating the Chartalist approach to monetary theory claiming that money must have no intrinsic value and strictly be used as tokens issued by the government, or fiat money.
Today, modern-day chartalists are from the school of thought known as Modern Monetary Theory (MMT). Bitcoin Sovereign Attack.