As cybercommerce begins it will lead inevitably to cyber-money.— James Davidson, The Sovereign Individual, 1996
The hype surrounding Bitcoin has gone off the charts in the past year. For those of us who have been involved with digital currency systems since the 1990’s, it is interesting to see how people caught up in the hype think Bitcoin is wonderful but in many cases cannot clearly see the reason why. Other enthusiasts think that Bitcoin is the ultimate solution for all payments.
Continue reading “Bitcoin – A Jack of All Trades is the Master of None”
A brief history of gold confiscation that “might make gold investors sweat” in one infographic…
Continue reading “Mining.com: A History of Gold Confiscation the Infographic”
Bitcoin makes some TV appearances, drama over German gold, talk of European bonds “part-backed by gold”, a report on mobile payments in developing countries, AML enforcement and more.
Continue reading “Bits and Pieces 30thOct12”
Bitcoin is not about making rapid global transactions with little or no fee. Bitcoin is about preventing monetary tyranny. That is its raison d’être.
Continue reading “Jon Matonis: Bitcoin Prevents Monetary Tyranny”
Bad economic times and capital controls go hand in hand. In 1933 FDR used Executive Order 6102 to confiscate US citizen’s gold as mentioned in the above video. The International Emergency Economic Powers Act (IEEPA), means the same thing could happen again today.
Extreme capital controls aren’t just a possibility, they are a reality in a many parts of the world, particularly Argentina.
Continue reading “Capital Controls: IEEPA, Gold and Argentina”