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Zooko, Escrow & Bitgo

tradewithdave.com / By Dave / April 20, 2014

Ever since the emergence of Bitcoin Dave has had concerns about the escrow aspects and their impact on merchant practicality. The idea of irreversibility of transactions and the absence of recourse was interesting, but a big cultural departure from both payment systems and the rule of law. [...]

Save MtGox – Bitcoin Important Implications of Going Down

marketoracle.co.uk / By: Mike_McAra / Apr 19, 2014 – 05:29 AM GMT

Cutting right to the chase: short positions might be the way to go now (stop-loss at $550).

A group of investors has come up with an initiative to convince the Tokyo Distric Court to not liquidate Mt. Gox’s assets [...]

The Bitcoin Hype Is Over

sproutmoney.com / 18 April 2014

Last year was a remarkable year for Bitcoin as the price of the cryptocurrency exploded unlike anything many have seen. Bitcoin put almost every other asset class to shame in 2013, starting from around 12 USD and rising to its all-time high north of 1,200 USD in November. [...]

As The Bitcoin Bubble Bursts, Digital Currencies Find They Have A Dilution Problem

zerohedge.com / By Tyler Durden / 04/11/2014 20:02 -0400

There was a time when people followed every gyration of bitcoin with pathological curiosity, peaking roughly five months ago when after having generated an epic return for 2013 as more and more momentum chasers got on board, the digital currency flirted with the $1000 (in USD [...]

Bitcoin for Rent – Real Estate Transaction Completed in NYC’s NoLita Neighborhood for BTC

libertyblitzkrieg.com / By Michael Krieger / April 7, 2014

I’m currently at the Javits Convention Center in New York City attending the Inside Bitcoins Conference. In keeping with the spirt of the day, I want to highlight this story of a NYC resident who just completed a real estate rentaltransaction entirely in Bitcoin.

While I [...]

Faber On Gold Manipulation, Bitcoin Risk and Importance Of Not Storing Gold In U.S.

goldcore.com / By Mark O’Byrne / 4 April 2014

Video: Dr Marc Faber On The Manipulation Of Gold Prices, Bitcoin Risk, Precious Metal Allocations and Safe Gold Storage In Singapore Today Dr Marc Faber gave insights into his strategies for protecting and growing wealth in 2014 and beyond. In the webinar, some of the topics [...]

Buy Bitcoin … But Hold Your Gold

thedailybell.com / By Staff Report / April 03, 2014

Gold is king, but there may be a better way to store wealth … Convenience: Bitcoins can be transferred at no cost and can be secured either digitally or on paper. – SMH

Dominant Social Theme: Gold is going to disappear sooner or later.

Free-Market Analysis: [...]

Perpetual Assets Launches “Bitcoin for Bullion” Campaign

libertyblitzkrieg.com / By Michael Krieger / March 27, 2014

I’ve mentioned the guys at Perpetual Assetsseveral times before on this site. I met them last summer at the Liberty Mastermind Conference, and I’ve been extremely impressed with their vision when it comes to precious metals, crypto-currencies and a dedication to making this world a better [...]

IRS slams Bitcoin millionaires with new tax rules… Is gold next?

sovereignman.com / By Simon Black / March 26, 2014

Bitcoin tax rules finally came to the Land of the Free yesterday. And I have to imagine there are some not-too-happy campers this morning, if they even know about it.

Bitcoin taxes were inevitable. I’ve written about this numerous times, and have even gone so far [...]

IRS slams Bitcoin millionaires with new tax rules… Is gold next?

sovereignman.com / by Simon Black / March 26, 2014

Bitcoin tax rules finally came to the Land of the Free yesterday. And I have to imagine there are some not-too-happy campers this morning, if they even know about it.

Bitcoin taxes were inevitable. I’ve written about this numerous times, and have even gone so far [...]

The IRS Rules on Bitcoin – Taxed as Property Not Currency

libertyblitzkrieg.com / By Michael Krieger / March 25, 2014

So the IRS has finally issued important tax guidance for Bitcoin and it turned out exactly the way I suspected it would. By treating Bitcoin as “property” and not “currency” the IRS is saying that anyone who bought a bitcoin for a certain price and then [...]

Gold market manipulation update, March 2014

gata.org / by Chris Powell / 2014-03-26 06:54

Remarks by Chris Powell, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. Mines and Money Hong Kong Conference Hong Kong Convention and Exhibition Centre Wednesday, March 26, 2014

For 15 years the Gold Anti-Trust Action Committee has been documenting and publicizing the largely surreptitious manipulation of the gold market [...]

IRS Clarifies Bitcoin as Property Not a Currency; What are the Implications?

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Tuesday, March 25, 2014 9:07 PM

Today the IRS further legitimized bitcoin simply by issuing a ruling bitcoin is property not currency.

In some respects this was the best possible ruling for bitcoin. In other respects it subjects those who intend to use it for everyday transactions to [...]

IRS Rules Bitcoin Is Property (Not Currency)

zerohedge.com / by Tyler Durden on 03/25/2014 14:18 -0400

After less than three months consideration, the IRS has issued its statement clarifying th etax treatment of Bitcoins (and other virtual currencies) before the April 15th Deadline. The finding, summarized, is that Vitual currencies will be treated as property (not as a currency) which, as [...]

What is Payment Protocol “Ripple” and How Does it Allow for Physically Backed Digital Gold Trading

libertyblitzkrieg.com / By Michael Krieger / March 21, 2014

I’ve known about Ripple for close to a year now. I’ve been meaning to write a post on it for several months, but since doing so is such a difficult effort I kept putting it off. The most accurate expression I’ve seen to-date describing the daunting [...]

Mt.Gox “Finds” Nearly Quarter Of Bitcoins It Had Said Was Missing

zerohedge.com / by Tyler Durden / 03/21/2014 10:31 -0400

The latest news out of insolvent Bitcoin exchange Mt.Gox will hardly boost confidence in the safety of the digital currency, after last night it announced that it had “found” nearly a quarter, or 199,999.99 of the bitcoin it had previously reported as missing. Mt.Gox Chief Executive [...]

Missing the Boat on Bitcoin Ownership; Theoretical Question Regarding Bitcoin Theft

globaleconomicanalysis.blogspot.com / March 17, 2014 11:17 AM / By Mike “Mish” Shedlock

I recently came across a pair of articles that make a case that bitcoins are not money but property. OK so what?

Bob Lawless on Credit Slips discusses an alleged problem in Is UCC Article 9 the Achilles Heel of Bitcoin?

Yves Smith [...]

Gold Versus Bitcoin: An Unnecessary Argument

thedailybell.com / By Staff Report / March 17, 2014

Gold is king, but there may be a better way to store wealth … A great investing mistake is to try to predict the future. Really, an investment decision is more about the price you pay and whether you can afford to be wrong … Bitcoin [...]

BITCOIN THE PERFECT SCAM: Price Does Not Reflect True Dangers Of Holding Bitcoins

srsroccoreport.com / by SRSrocco / March 16, 2014

(by Nadeem Walayat) Bitcoin is as a SCAM by design as I have voiced many times over several months in that even when a large percentage of people have their holdings stolen the price is stable enough to continue to entice new entrants into exchanging hard earned [...]

Mt. Gox Problems Mount

mises.ca / by David Howden / March 13th, 2014

In the aftermath of the demise of bitcoin bank Mt. Gox comes a few startling revelations. Anewly released “Crisis Strategy Draft” confirms some unfortunate truths long suspected of its handling of clients’ bitcoin deposits. (The document might be a fake, but I’ll accept it as legitimate [...]

High Frequency Bitcoin Trading Coming Your Way; Reflections on “The Right Pedigree”, Bitcoin is Here to Stay

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Wednesday, March 12, 2014 12:56 PM

Wall Street has officially embraced bitcoin. And why not? Wall Street can scalp fractions of bitcoins just as easily as fractions of pennies.

The Wall Street Journal reports Perseus, Atlas Launch Global Bitcoin Trading Platform

High-speed telecommunications provider Perseus Telecom and [...]

Zillow CEO and Wikipedia Co-Founder Publicly Warm Up to Bitcoin

libertyblitzkrieg.com / Michael Krieger / March 11, 2014

The reason Bitcoin refuses to “die”, is because it represents a genuine technological breakthrough in payments. The reason it hasn’t been exposed as a “ponzi scheme”, is because it isn’t one.

Earlier today, I came across a very powerful quote on Twitter by Erik Voorhees:

I've met [...]

Isn’t It Ironic: Mt.Gox Hacker Demands Ransom From Exchange Users To Not Reveal Their Personal Data

zerohedge.com / by Tyler Durden / 03/11/2014 22:50 -0400

The bankruptcy of the once largest Bitcoin exchange may be history, but now the real drama begins.

First, over the weekend, allegations surfaced that not the whole truth may have been revealed during the heartfelt announcement by Mt. Gox CEO, Mark Karpeles, who claimed that $400 [...]

New York to Accept Bitcoin-Exchange Proposals

libertyblitzkrieg.com / Michael Krieger / March 11, 2014

Last week, I wrote a piece titled: New York Banking Regulator Benjamin Lawsky Thinks Mt. Gox Collapse Could Help Bitcoin. In it, I speculated that Lawsky was positioning New York to emerge as a primary global Bitcoin trading hub. While certain comments from Lawsky in the [...]

Is Bitcoin Legal? Illegal? a Currency? a Commodity?

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Saturday, March 08, 2014 2:01 PM

Regulators in various countries are grappling with bitcoin. What the hell is it? It’s a good question and answers vary widely.

Bloomberg reports Japan Says Bitcoin Not Currency Amid Calls for Regulation.

Japan’s government said Bitcoin isn’t a currency amid calls [...]

Seth Klarman On “Born Bulls”, Bitcoin, & “The Truman Show” Market

zerohedge.com / by Tyler Durden on 03/08/2014 14:25

With 40% of the portfolio in cash and having returned $4 billion to clients at year-end, Seth Klarman’s Baupost Group has “drawn the line in the sand” as they reflect on the diminished opportunities in the so-called “Truman Show” market we see today. In the face [...]

Bitcoin Banking

mises.ca / David Howden / Friday, March 7th, 2014

A currency is only as safe as the bank that stores it. Nowhere is this more apparent than in the recent turmoil in the bitcoin community.

One the primary advantages of bitcoin, perhaps even the greatest advantage of the cryptocurrency, is the ability to do away [...]

JPMorgan’s Biggest Concern Is That Bitcoin Will Succeed

zerohedge.com / Tyler Durden / 03/07/2014 21:06 -0500

Via JPMorgan CIO Michael Cembalest,

After digesting all the hyperbole and the pessimism, my biggest concern is not that Bitcoin will fail, but that it or one of its many virtual currency competitors will one day succeed.

In the extreme, Bitcoin may lead to [...]

Fed’s Dudley “US Dollar Wins”; Bitcoin “Not a Good Store Of Value”

zerohedge.com / by Tyler Durden on 03/07/2014 15:29 -0500

While the volatility of Bitcoin has been considerable, perhaps merely reflective of the early days of a revolution, the fact that the “value experts” at the Fed have pronounced:

*DUDLEY SAYS BITCOIN ‘IS NOT VERY GOOD STORE OF VALUE’ *DUDLEY SAYS ‘U.S. DOLLAR WINS’ OVER [...]

Newsweek Claims to Have Identified the Creator of Bitcoin – Satoshi Nakamoto

libertyblitzkrieg.com / By Michael Krieger / March 6, 2014

I have very mixed feelings about the accuracy of today’s article from Newsweek regarding its claim to have discovered the identity of Bitcoin creator Satoshi Nakamoto. On the one hand, you’d think a major magazine would not make such a bold claim without extensive research and [...]