Archive for the Bitcoin Category


Mr. Benjamin M. Lawsky Of New York Proposing Formal Bitcoin Regulations

Source: http://dealbook.nytimes.com/2014/07/29/proposed-rules-expose-rifts-among-bitcoin-enthusiasts/?_php=true&_type=blogs&_r=0 It’ll be interesting to see how this goes down. While I’m not too enthused about more regulations, if it encourages more people to adopt bitcoin, I’m cautiously optimistic. With that said, bitcoin was for all people, especially the poor and the small startup. Regulations can easily wreck them as they won’t have the money to compete against bigger companies. And the whole point of btc was to help the little guy wrest back control from big banks and the like.

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Mastercoin Trying To Compete Against Bitcoin

With the success of bitcoin, there are many copycats trying to de-throne its status as the number 1 crypto currency. Personally, I would need to have a significant reason as to why I would switch. What irritates me is this guy raised $7 million that didn’t do much for anyone. Meanwhile, there are much more worthy causes out there. You can read Kashmir Hill’s detailed article at http://www.forbes.com/sites/kashmirhill/2014/06/03/mastercoin-maidsafe-crowdsale/

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Forbes Columnist Gives Her Advice On Ways To Invest In Bitcoin

While this article is geared towards more old timers and traditional investors, it is best to just buy and hold bitcoin on your own. It’s much cheaper, there are no minimums, and you won’t need to pay service and administration fees, which is very common when investing in Exchange Traded Funds (ETFs) or private investments, which is talked about in this article. Still, one of the head fund managers for Global Advisors, with a respectable 91%+ return for the past 5 years, thinks bitcoin could hit $15,000 each because 1.5 billion people who are not into bitcoin yet, will want to hold at least $100 of each. http://www.forbes.com/sites/perianneboring/2014/06/04/as-bitcoin-rallies-what-are-the-best-opportunities-for-investors-to-get-in-on-the-action/

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Rapper 50 Cent Embraces Bitcoin – You Can Buy His Latest Album With BTC

http://www.usatoday.com/story/life/music/2014/06/03/fans-can-buy-50-cents-new-album-with-bitcoin/9900037/ Rapper 50 cent is using BitPay to accept bitcoin as payment for his latest album at shop.50cent.com. Looks to me bitcoin is headed to the moon. Perhaps this may be the formation of a bubble?

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BlockChain.info CEO Nicolas Cary Pays Everyone In Bitcoin And Someday You Will Too

http://www.entrepreneur.com/article/234463 Nicolas brought up a very good point that I hadn’t even thought about. 2.5 billion human beings on Earth don’t have any access to banking or money services. They’re poor and have no opportunity to get out of it without traditional socialistic like bailouts. Bitcoin can change that by eliminating transaction fees and having no need of central banking or approval. Because btc is not debt based, it truly is honest money. The implications of 2.5 billion new humans wanting to buy stuff is tremendous.

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Bitcoin Doomsayer Mark T. Williams Sticking To His Guns About Bitcoin Going Down

Mark isn’t a fan of bitcoin obviously. He still thinks the crypto is doomed. http://www.cryptocoinsnews.com/news/mark-t-williams-bitcoin-price-prediction-wrong/2014/06/01 I don’t think I need to remind you, but it’s very hard to predict any price movements unless it’s very long term and you’ve got solid demographic data to support it. And some times that isn’t enough. Most in the bitcoin community obviously hate Mark, but that doesn’t prevent news outlets from giving this guy a mouthpiece. According to crypto coin news, one such doomsayer article by him generated 140,000 page views within a short time. That’s good money and traffic for the news station! Every market has doomsayers. They said gold and silver was going to go down but obviously it’s still kicking. There are many ways to make and lose money. Don’t be narrow minded and keep all your options open.

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Erik Voorhees To Settle SEC Bitcoin Violation For $58,000+

http://abcnews.go.com/Business/wireStory/owner-bitcoin-linked-sites-settles-sec-case-23975428 Erik Voorhees is being penalized for attempting to raise investing money from selling shares of two bitcoin websites, one of which is SatoshiDice. Erik denied any wrongdoing but he also said he wouldn’t violate anymore SEC laws. I’m kind of surprised he wasn’t charged with encouraging illegal behavior, such as gambling, since it is illegal in the United States except in select areas. There are many scams and ponzi schemes involving crypto-currencies, and the SEC had to issue an alert about it last month.

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Apple To Finally Pave The Way For Bitcoin And Crypto Currencies

http://ti.me/1hvsZba Apple has modified their terms of service to allow bitcoin payments and anything related to btc. Although it is not mentioned by name, Apple’s contract says that any use of “virtual currencies” must follow all local and state laws.

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