This week, CNBC had a headline that read: "Bitcoin pits the gold bugs vs. the 'techno geeks.'" Both groups are avid proponents of sound money, oppose the actions of the Federal Reserve and most believe in competing currencies. One financial expert published an op-ed piece Thursday … [Read more...]
Singapore is regulating bitcoin exchanges, vendors and vending machines
Soon after the fall of Mt. Gox and Flexcoin, the central bank of Singapore confirmed Thursday that it will begin to regulate bitcoin "intermediaries," otherwise listed as exchanges and vending machines, in order to combat money laundering and terrorism financing. The Monetary … [Read more...]
Native American nation using bitcoin-like currency could set precedent
In order to establish its sovereignty and independence and urge its community members to become self-sufficient by understanding the power of money, a Native American nation has produced its very own cryptocurrency modeled after bitcoin named Mazacoin. The Mazacoin will become the … [Read more...]
Texas oil company ordered to stop accepting bitcoin
An oil and gas company has been required by a Texas state securities regulator to stop accepting bitcoins as payment for investments in its Texas oil wells, according to a statement issued by the top watchdog in the Lone Star State. John Morgan, the Texas Securities Commissioner, … [Read more...]
EU urged to put bitcoin on agenda by French Minister
Digital currencies like bitcoin have proven to be quite troublesome for an array of countries all over the world. Central banks and federal governments have repeatedly issued statements and officials have either celebrated or decried the virtual currency. The latest is a minister from … [Read more...]
Big Fish collaborates with Coinbase to accept bitcoin payments
Are you a fan of both bitcoin and Big Fish Games? Now you can embrace both after it was announced in a press release that the American gaming website is partnering up with Coinbase to begin accepting the digital currency for games and in-app purchases. Big Fish is one of the … [Read more...]
Is using the hand of government for bitcoin thefts justified
With three bitcoin exchanges shutting down after experiencing thefts worth hundreds of millions of dollars, some in the bitcoin community are urging government regulation and intervention to protect consumers. It was reported Sunday that Mt. Gox, one of the world’s biggest exchange … [Read more...]
Nouriel Roubini: Bitcoin is a ‘ponzi scheme’ and ‘lousy’ store of value
One of the most renowned economists in the world, Nouriel Roubini, who is known very well for his bearish standpoint on financial markets across the globe, doesn't seem to be optimistic about bitcoin and the digital currency industry. Using Twitter as his platform to convey his … [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...]
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...]
