2nd FEC meeting about MYL #39;s Bitcoin request (AOR 2014-02)
Following up from the April 23rd meeting, the Federal Election Commission is slated to discuss +Make Your Laws #39; Bitcoin advisory opinion request (AOR) and how to compromise between the two...
By: Make Your Laws
Here is the original post:
2nd FEC meeting about MYL's Bitcoin request (AOR 2014-02) - Video
FEC Allows PAC To Start Accepting Bitcoin Donations
For the first time, the Federal Election Commission gave the go-ahead for a political group to accept small amounts of Bitcoin. Follow Jay Srubberg: http://twitter.com/JayStrubberg See more...
By: NewsyTech
More:
VMC Fast-Hash One Prospector Review - 512gh/s bitcoin mining machine with 28nm ASIC.
Review of the Virtual Mining Corp 28nm ASIC Bitcoin Miner called the "Fast Hash One Prospector" Latest model available here: http://virtualminingcorp.com/shop1/index.php?id_product=41 controller=p...
By: CryptoCurrency
Continue reading here:
VMC Fast-Hash One Prospector Review - 512gh/s bitcoin mining machine with 28nm ASIC. - Video
Video: Roundup of This Week #39;s Bitcoin News 9th May 2014
Some good news from America, and (unsurprisingly) some more bad news from China. Find out what happened in the world of digital currencies this past week. Vote for Emily Spaven here: http://coind...
By: CoinDesk
Originally posted here:
Video: Roundup of This Week's Bitcoin News 9th May 2014 - Video
[Structure] Why Bitcoin #39;s Competitors Don #39;t Dilute Its Money Supply
[Structure] Why Bitcoin #39;s Competitors Don #39;t Dilute Its Money Supply.
By: Structure Daily
Go here to read the rest:
[Structure] Why Bitcoin's Competitors Don't Dilute Its Money Supply - Video
Bitcoin Talk Show #8 (Live) -- Call or Skype in with your thoughts! What is the future of Bitcoin?
Bitcoin Talk Show #7 (Live) -- Call or Skype in with your thoughts! What is the future of Bitcoin?
By: World Crypto Network
Visit link:
Bitcoin Financial Crime: An Analysis
This session will look at how the digital currency Bitcoin is used by financial criminals to commit a range of offenses, including theft, fraud, and money laundering. Christine Duhaime, Partner,...
By: OffshoreAlert
See the rest here:
Panel approves Bitcoin for use in political contribution.
WASHINGTON (CNNMoney)
The 6-member panel voted unanimously to allow the contributions, a move that could open the floodgates for donors to make political contributions with the digital currency in the upcoming midterm elections.
The decision means that political groups or candidates can accept Bitcoin if they abide by the same guidelines that the political group Make Your Laws set forth when it asked for the commission's approval. Bitcoin political contributions would be clearly identified and limited.
Proponents say it's a sign of increased acceptance of the upstart currency, as more businesses and individuals are starting to embrace Bitcoin payments as an alternative to credit cards.
Related: My business accepts bitcoin
"It's still a pretty good step, we'll be allowed to accept Bitcoin in the way we proposed," said Sai, who runs the political group Make Your Laws. "It's probably good for the Bitcoin economy as well."
Sai is his full legal name, and his Make Your Laws is a nonpartisan group. Its website says its aim is to use technology to give individuals a louder voice in elections and democracy.
The decision was monitored by the Bitcoin Foundation, a lobbying group that also asked the commission to approve the use of Bitcoin for political fundraising.
Related: Bitcoin players knock on Washington doors
Read more:
As the SEC put it in an alert published Wednesday: "Potential investors can be easily enticed with the promise of high returns in a new investment space and also may be less skeptical when assessing something novel, new and cutting-edge."
Still, though bitcoin is a new investment opportunity, the SEC's advice for spotting scams would apply to all kinds of general fraud: avoid deals that sound too good to be true, don't give in to high sales pressure, etc.
More from NBC News: Oculus Rift Flight Simulator is For the BirdsLondon Cops Testing 500 Wearable Cameras on the StreetsPrototype Killer Laser Takes Out Boats a Mile Away
If a victim does get sucked in, however, that's where bitcoin does present unique challenges. The digital-only currency is difficult to trace, it's international, it isn't regulated by any central authority and law enforcement has a tough time seizing or freezing those ill-gotten gains.
The rest is here:
Andreas M. Antonopoulos - L.A. Bitcoin Meetup - "Currency Creates Sovereignty" - Part 3 of 4
After visiting Dorian Nakamoto and before appearing on the Joe Rogan Experience, Andreas M. Antonopoulos visits the Los Angeles Bitcoin Meetup. Filmed April ...
By: reXBT
Read the original:
Andreas M. Antonopoulos - L.A. Bitcoin Meetup - "Currency Creates Sovereignty" - Part 3 of 4 - Video
Paid Bitcoin @ Gili Kite Surf
In the middle of our survey for BitIslands project, we decided to visit Gili Kite Surf for a kite surfing lesson. Gili Kite Surf is the first merchant accepting Bitcoin in Gili Air Island,...
By: Bitcoin Islands
See the rest here:
Living on Bitcoin: The Sequel -- Big Brains Bullish on Bitcoin -- Reddcoin Tip Platform
LAST DAY --- Vote MadBitcoins: https://blog.blockchain.com/2014/04/16/the-first-annual-blockchain-awards/ Join the MadBitcoins Patreon for behind the scenes content! Subscribe for as low...
By: MadBitcoins
Continued here:
Living on Bitcoin: The Sequel -- Big Brains Bullish on Bitcoin -- Reddcoin Tip Platform - Video
#Bitcoin mentioned on The Wrap Up Show - Howard Stern 4-16-2014
Not the greatest mention, but still a mention.
By: MadBitcoins
See the rest here:
#Bitcoin mentioned on The Wrap Up Show - Howard Stern 4-16-2014 - Video
Dark News #009: BTC Black Markets | Multisig Escrow | 2FA Anonymity | Live Q A
Topics: --- 00:01:58 Dogecar 00:02:50 Dark Market Prices 00:05:38 Darkcoin Prices 00:06:40 Crypto-currency Price Trends 00:09:23 MAIDSAFE and SafeCoin 00:12:10 Bitcoin and Black Markets 00:15:11...
By: World Crypto Network
Link:
Dark News #009: BTC & Black Markets | Multisig Escrow | 2FA Anonymity | Live Q&A - Video
After Bitcoin: Cryptocurrencies - where will we be in a year #39;s time?
http://www.totalpayments.org/category/the-future-of-payments/ Where will cryptocurrencies be in a years time? The first in a series of broadcasts on the subject of cryptocurrencies and the...
By: Vaughn Highfield
Read the original:
After Bitcoin: Cryptocurrencies - where will we be in a year's time? - Video
Exploring Bitcoin with Amir Taaki - Let #39;s Talk Bitcoin Episode 106
http://letstalkbitcoin.com/ltb106-exploring-bitcoin-with-amir-taaki.
By: Let #39;s Talk Bitcoin!
See the original post here:
Exploring Bitcoin with Amir Taaki - Let's Talk Bitcoin Episode 106 - Video
The U.S. Securities and Exchange Commission is leery of bitcoin.
The agency issued a lengthy warning to investors on Wednesday about risks it sees in bitcoin and virtual currencies, much of which has been already iterated by bitcoin advocates or other regulators.
But the SEC, which is the top regulator for U.S. securities markets, also took a dig at bitcoins short existence as another negative.
As a recent invention, Bitcoin does not have an established track record of credibility and trust, the agency wrote in its advisory.
The statement perhaps conflates the pure technology of the bitcoin protocol that transfers the virtual currency, which has been vetted by cryptography experts as solid, with the nearly innumerable thefts, scams and failures of bitcoin-related businesses.
Bitcoin, which launched in 2009, has seen a fair share of challenges, including vacillating exchange rates and regulatory restrictions in countries such as China.
To back up its claim of bitcoins track record, the SEC cited the February collapse of Mt. Gox, the Japan-based exchange that said it lost some 650,000 bitcoins and US$28 million in cash, confirming suspicions the exchange that once dominated bitcoin trading was in trouble.
Law enforcement and the SEC may also have trouble investigating bitcoin-related cases, the warning said, since banks are not involved with bitcoin transactions and there is no central authority to obtain information on users.
The SEC must rely on other sources for information in such cases, such as bitcoin exchanges or users. Seizing and freezing proceeds that are in bitcoin can also be difficult, the SEC said.
Of course, many of those supposed weaknesses are also what makes bitcoin attractive to certain kinds of users.
Here is the original post:
Such interest in bitcoin shows how Wall Street could seek to reap benefits touted by bitcoins backers without using the virtual currency itself.
While Jamie Dimon and Warren Buffett express doubts about bitcoin, executives running the financial industrys back offices are looking at mimicking the virtual currencys methods of moving money quickly and cheaply.
FIS, a provider of systems used by banks to handle payments, is examining whether a public ledger like bitcoins could help securely move funds on existing networks, Fred Brothers, the firms chief innovation officer, said in an interview. Fiserv Inc. (FISV), a provider of technology for payments and accounts, is examining bitcoins use of encryption to ensure transfers are secure, said Marc West, a senior vice president.
Such interest shows how Wall Street could seek to reap benefits touted by bitcoins backers without using the virtual currency itself. Bitcoin, proposed by an anonymous programmer or programmers in 2008, has drawn entrepreneurs and retailers looking to popularize it as a low-cost alternative to established payment systems, supplanting credit cards to international wire transfers. Instead, a variety of financial firms might copy its underlying design to hone their own systems or services sold to clients.
Its safe to say that every bank is looking at whats going on with bitcoin and those types of technologies, said Steve Kenneally, a vice president at the American Bankers Association. Most of the larger banks are investigating it. The larger the banks, the further along they are.
Goldman Sachs Group Inc. analysts wrote in a March report that while bitcoins may not make a viable currency, the technology could hold promise. The software relies on a public record of transactions. When someone spends all or part of a bitcoin, the change in ownership is recorded by a global network of computers and posted to the register, ensuring individual units cant be simultaneously held or spent by multiple people. Operators of computers solving and verifying transactions are rewarded with new bitcoins for their work.
Bitcoins are valued at about $435 today, compared with prices of more than $1,100 in December and about $13 at the start of last year, according to CoinDesk, which tracks prices across key exchanges.
Bankers including JPMorgan Chase & Co. (JPM) Chief Executive Officer Dimon, 58, have predicted bitcoins probably wont last after governments subject them to rules and standards akin to those for other payment systems.
I wouldnt be surprised if its not around in 10 or 20 years, Buffett, the 83-year-old billionaire chairman and CEO of Berkshire Hathaway Inc. (BRK/A), told CNBC in March. It does not meet the test of a currency.
Buffetts long-time business partner, Charles Munger, was less charitable this week, telling Fox Business Network that calling bitcoins rat poison would understate his disdain.
See the article here:
Bitcoin Breakthroughs Seen Copied by Banks Its Meant to Replace
Bitcoin
The US Securities and Exchange Commission issued an advisory Wednesday that warned investors to be wary of Bitcoin or other virtual-currency related investments.
While not advising investors to avoid Bitcoin altogether, the financial regulator did caution investors by saying the cryptocurrency is uninsured, unregulated, and volatile. But the SEC's chief concern was the risk of fraud.
"A new product, technology, or innovation -- such as Bitcoin -- has the potential to give rise to both frauds and high-risk investment opportunities," the agency's notice says. "Potential investors can be easily enticed with the promise of high returns in a new investment space and also may be less skeptical when assessing something novel, new and cutting-edge."
The government agency also pointed to another investor alert (PDF) it issued, which outlines the risks of Bitcoin in the context of Ponzi schemes. The SEC said that Ponzi scheme organizers often use the newest tech innovations for their scams.
"Innovations and new technologies are often used by fraudsters to perpetrate fraudulent investment schemes," the agency said.
Additionally, the SEC said that investors who were able to cash in when the Bitcoin market was soaring are now more susceptible to being taking advantage of because of their unexpected increase in wealth. They are "attractive targets for fraudsters" and "promoters of high-risk investment opportunities," the SEC said.
It's been a wild ride for Bitcoin over the past couple of years. The virtual currency has become more accepted and grown exponentially -- it went from $2 per coin in 2011 to roughly $1,000 per coin last fall. What's more, cryptocurrency ATMs have begun to pop up, some casinos have said they'd accept digital currency payments, Yelp started listing businesses that accept Bitcoin, and even eBay has begun allowing for limited sales of bitcoins on its US and UK sites.
Yet, the virtual currency has hit some rough patches. Besides coming up against hurdles from US, Japanese, and other regulators, the prominent Tokyo-based Bitcoin exchange Mt. Gox filed for bankruptcy earlier this year. The demise of the exchange came because hackers stole nearly $500 million in bitcoins through a weakness in the company's system. Bitcoin bank Flexcoin also had to shut down after being hacked.
Despite the SEC's concerns, the digital currency still has backing from several US government officials. US Rep. Jared Polis (D-Colo.) has publicly said that dollar bills are as equally vulnerable to instability, illicit activity, and forgery as Bitcoin. The congressman has also noted that dollars have been used extensively in drug trafficking and money laundering, not to mention tax fraud.
Read the original post: