This week, a few more traditional brick-and-mortar chain stores announced that they would be shutting down additional outlets. What was once the beacon of American capitalism and free markets since the mid-20th century has now transformed into heightened competitive 21st century … [Read more...]
Will Janet Yellen’s ‘do all I can’ remark mean increased QE
Prior to officially becoming head of the most powerful system in the world, the Federal Reserve, there were numerous warnings that she would not reverse the $10 to $20 billion taper talk and actually increase the central bank’s quantitative easing measures that were put into place by … [Read more...]
It may not be long before central banks enter the digital currency market
Central banks worldwide have been quick to dismiss bitcoin and other cryptocurrencies as legitimate currencies. Instead, they view them as any other asset and they would be either subjected to a value added tax (VAT) or capital gains. However, central banks themselves might enter into … [Read more...]
Israeli prime minister is mulling bitcoin regulation to protect markets
Last month, the Bank of Israel issued a standard statement on bitcoin: it’s risky, it’s volatile, it’s unsafe and it’s not government-issued therefore the central bank is not responsible for any loss in digital holdings. "Virtual currencies are not issued by a central bank, and are … [Read more...]
U.S. Congressman Jared Polis may be right in satirical bid to ban dollar
Should the United States government ban the greenback? Colorado Democratic Congressman Jared Polis wrote a letter to Treasury Secretary Jack Lew and five other federal regulators – it was confirmed by his press secretary that it was never actually sent to them – Wednesday in which he … [Read more...]
Bitcoin investors of the cryptocurrency call for regulation
Over the past four years, bitcoin investors prided the digital currency of being decentralized, anonymous and revolutionary. Although the virtual currency can certainly be described as revolutionary, it may no longer be anonymous, especially if some investors have their … [Read more...]
Are Warren Buffett’s comments regarding bitcoin a sign he’s outdated
This week, after sending a letter to Berkshire Hathaway shareholders over the weekend, Warren Buffett sat down with CNBC to discuss an array of economic and political matters, including the major business newsmaker: bitcoin. Was Buffett in support of bitcoin? Hardly. Instead, he … [Read more...]
Report: Japan considering bitcoin regulation and taxation
Amid the bankruptcy filing and closure, Japanese authorities are considering adopting regulatory and taxation measures for bitcoin, according to a report from Reuters which cited a cabinet meeting scheduled for Friday. The Japanese cabinet will look at the best methods to implement … [Read more...]
Gold or Bitcoin: Which one is the libertarian choice against fiat money
Since bitcoin became ubiquitous in libertarian circles over the past year or two, the question has now become: what is the best alternative to government-issued fiat money? Gold and silver or bitcoin and litecoin? The answer depends on who one speaks with. One libertarian will say … [Read more...]
CIEO requests public forum to discuss bitcoin security
With the insolvency declaration made by Mt. Gox, one of the world's largest bitcoin exchange platforms, many are now talking about the security behind the bitcoin protocol and proper development needed to enhance exchanges’ storage technology in the future. Proponents often discuss … [Read more...]
Can bitcoin and other competing currencies coexist
The concept of competing currencies has been the topic of fierce debate for decades. Over the years, two of the most prolific economists, Friedrich Hayek and Milton Friedman, discussed the matter repeatedly. Hayek, an Austrian economist, supported the idea, while Friedman, a Chicago … [Read more...]
London Telegraph says bitcoin helps child pornographers
There have been many claims made against bitcoin in the past year. One claim is that the virtual currency is primarily used for criminal transactions and illicit deals. Another claim is that it’s meant to evade paying taxes. There are numerous claims, mostly negative, regularly made … [Read more...]
Ukraine protesters utilize bitcoin to help fund revolution
During the Arab Spring a couple of years ago, Twitter was one of the primary newsmakers because demonstrators had utilized the social network to commence protests, inform the world on its domestic strife and publish photographs and videos of violent incidents. It was an important tool … [Read more...]
Vietnam officially bans all bitcoin transactions
We are receiving conflicting reports regarding the status of bitcoin in Vietnam. See update at bottom of this article. It was a strange week for bitcoin: Mt. Gox declared bankruptcy, bitcoin prices stabilized and one United States Senator called for a complete ban on bitcoin. On … [Read more...]
Outspoken NFL star Richard Sherman accepting bitcoin
There aren't too many professional athletes that are accepting bitcoin as a method of payment. One international celebrity is, though, and that could lead to other sporting stars to follow suit and do the same. Richard Sherman, Seattle Seahawks cornerback and YouTube sensation, … [Read more...]
Mt. Gox is not bitcoin: mainstream media outlets call Armageddon for bitcoin
If anyone outside of the bitcoin community would have listened to various mainstream media outlets this week, one would think that the virtual currency market has imploded, investors have lost their entire net wealth a la 1929’s Black Tuesday and critics have been proven correct. This … [Read more...]
Japan authorities looking at possible intervention after Mt. Gox implosion
Since the triumphant ascension of the cryptocurrency industry, its proponents have long urged the federal governments and the central banks of the world to stand back, refrain from regulations and just mind their own business. However, things might have changed after Tuesday's … [Read more...]
Marc Andreessen gloats on Twitter as bitcoin swiftly rises in value after Mt. Gox debacle
After the potential insolvency of Mt. Gox, one of the world’s biggest bitcoin exchange platforms, many have speculated that this could very well be the end of the digital currency. However, a collapse doesn't appear to be in sight because bitcoin has risen from around $400 to as high … [Read more...]
Mt. Gox vanishes – Should Japanese authorities intervene in Mt. Gox insolvency
Bitcoin holders are scratching their heads Tuesday morning after one of the world's biggest bitcoin exchange platforms, Mt. Gox, might have vanished off of the Internet forever, its founder gone and its Tokyo-based office empty. Mt. Gox officials have not responded to telephone calls, … [Read more...]
Larry Summers: Bitcoin has potential ‘to be a very, very important development’
Former United States Treasury Secretary and Federal Reserve Chair candidate Larry Summers sat down with Morning Money during the National Association for Business Economics policy conference and the former Obama administration official was asked about bitcoin. His answer was a … [Read more...]
