Voucher-Safe, a Next Generation Digital Currency – Part III

voucher-safe-icon-256Part I looks at the motivation behind Voucher-Safe, the evolution of digital currency and how Voucher-Safe transactions work.

Part II  examines the Voucher-Safe economy, trust, security and software.

This final part looks at Voucher-Safe’s interaction with Bitcoin, Issuers and OnionPay.


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Bitcoin’s Blockchain Drama

Last night Bitcoin’s blockchain, the public ledger recording all transactions, forked. For a few hours there were two versions of the blockchain. Big Problem.

The Issue was caused by the 0.8 upgrade. It seems the blocks it was generating were too long for 0.7 to recognize them. The versions diverged with each building a different blockchain.

The problem was quickly spotted and resolved within about 6 hours. However, many exchanges and businesses halted transactions during this time and the Bitcoin exchange rate took a hit. One Bitcoin is now trading at about $43 USD.

The solution was for miners using 0.8 to switch back to 0.7 until a solution for the 0.8 version is found and released.  For Bitcoin users the problem is resolved, you can transact with Bitcoin as usual. For further information you can read a play by play of yesterday’s events from The Bitcoin Trader here, or read Bitcoin Magazines review of the situation here.

GATA answers skeptic’s questions from Future Money Trends

In an excellent interview with FutureMoneyTrends.com, GATA’s Chris Powell and Bill Murphy answer common skeptic’s questions. Why don’t more gold miners support GATA? How do you explain similar trading patterns in other commodities? Why aren’t there more whistle blowers? etc.

The Price of Gold

“Owning physical gold is like having a put option on your government and the financial system. And when you don’t have confidence in these things, the paper price of a gold contract that trades in a government-regulated commodities exchange is… irrelevant.” An important reminder from the SovereignMan.

The price of gold has taken a hit in the last few weeks dipping down to the $1,500’s. If you own gold and silver as ‘a put option on the financial system’ this temporary dip is of little concern, what you own is real money. And this week Patrick Barron explained why it is the dollar and not gold that is overvalued.

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