Month: November 2013

Gold Drops $10 In 10 Seconds As Britain Announces Gold Manipulation Investigation

[heading]Gold Drops $10 In 10 Seconds As Britain Announces Gold Manipulation Investigation[/heading]

What happens when you open up an investigation into the gold market? The price drops $10 in 10 seconds.

With investigations by the CFTC into the silver market fading in the US, regulators in Britain have decided to review whether global benchmarks tied to gold trading were manipulated. This investigations is a part of a larger investigation of potential manipulation of the $5 trillion a day currency market, Libor. Read More

Ayn Rand’s Galt’s Gulch Vision Now A Reality…And It Accepts Private Money Bitcoin

[heading]Ayn Rand’s Galt’s Gulch Vision Now A Reality…And It Accepts Private Money Bitcoin[/heading]

Jeff Berwick, CEO of TDV Media and The Dollar Vigilante, made quite a stir when he announced earlier this year his plan to open a Bitcoin ATM in Cyprus while the bankers were closed there.

Now, he’s created a place where you can go and use your bitcoins: Berwick’s created something like John Galt’s vision (from Ayn Rand’s “Atlas Shrugged), Galt’s Gulch. He’s called it Galt’s Gulch Chile. Read More

American Silver Eagle Sales Hits All Time Record

[heading]American Silver Eagle Sales Hits All Time Record[/heading]

On Tuesday silver prices were dragged down to $20.60, leading many precious metals investors to wonder where their complex would head next. The only metal which showed any strength was platinum. The soft prices in 2013 for silver did not stifle demand, as sales of the American Silver Eagle one-ounce bullion coin hit an annual record Tuesday.

The total sales to date as of Tuesday, November 12, 2013, were 40.175 million ounces, according to the Mint.

The previous annual record was set in 2011 at 39.869 million ounces. Read More

High Bitcoin Prices Drive Gold Demand

[heading]High Bitcoin Prices Drive Gold Demand[/heading]

Gold investors might have been put off by Bitcoin in recent months. After all, it was supposed to be their safehaven of choice – one tried and tested throughout history – which was to preserve their assets against dollar collapse…not some other, tangential investment.

But, since gold peaked in the fall of 2011, it and silver have both posted long-term corrections, even crossing over into bearish territory, with interest in the topic, according to Google Trends, at an all-time low.

In the meantime, Bitcoin has revolutionized money. Read More

Bank Of America Tells Clients It Might Find A “Climate Far More Conducive To Embracing” Bitcoin

[heading]Bank Of America Tells Clients It Might Find A “Climate Far More Conducive To Embracing” Bitcoin[/heading]

Are you a small business discouraged at the prospect of finding an account with a bank that will accept your Bitcoin vision? Have you been rejected by Citibank, US Bank, Bank of America and/or others?

Deep breath.

There is reprieve in the offing.

Bank of America has told its small business clients that they might be surprised to find a future environment embracing crypto-currencies like Bitcoin. Read More

The State Of Major Modern Nation-State Economies & The Real Bitcoin Economy

If it weren’t for monumental quantitative easing programs, the world’s economic leaders would not be hiring the bit faster nor creating a few more jobs as they currently are.

Read More

BitPay World’s First Zero Transaction Fee Payment Processor

[heading]BitPay World’s First Zero Transaction Fee Payment Processing[/heading]

According to its website, BitPay will join CoinBase as a payment processor with zero fees. Currently, Coinbase is using the model towards a merchants’ first one million sales, after which merchants will pay 1% fees. BitPay’s new model, however, asks for $30 per month per merchant, with zero additional fees. This is unprecedented in payment processing space, and will certainly send shockwaves through various payment processing spaces.

Both BitPay and Coinbase represent the world’s first zero-fee payment processors, driving home how revolutionary modern payment methods are.

This certainly must make leading credit card companies nervous, considering their 3% fees and history of high fee debacles:

In July 2012, Visa, MasterCard and several major banks agreed to pay U.S. retailers a record $7.25 billion in penalties to settle a long-lasted lawsuit alleging the card giants conspired to fix so-called “swipe fees” paid by shops and supermarkets.

Swipe fees are levied on retailers for using their cards for each transaction. The fee is deducted by the card’s issuing bank.

 

To be certain, the news is bullish for the Bitcoin price, and will likely not make the impact it should via mainstream financial channels.

Visionaries who invested in BitPay include Trace Mayer, Peter Thiel and Max KeiserTrace and Keiser recommended Bitcoin at $0.05 and $5.00 respectively.

 

Speculator Activity Shows Funds Selling Gold And Silver

[heading]Speculator Activity Shows Funds Selling Gold And Silver[/heading]

Speculator activity in the recent Commodity Futures Trading Commission showed that funds were selling gold and silver, while adding to their platinum group metals accounts in future and option on the Comex division of the New York Mercantile Exchange and the Nymex. Read More

Why Cold Wallet Bitcoin Storage Is Not “Technologically More Complex” Than Storing Bitcoin Online

A neutral and to the point Guardian article today discussed how someone who goes by the pseudonym TradeFortress lost $1 million of users money on his developed site Inputs.io.  At the end of the article, the Guardian points out how TradeFortress recommends everyone store bitcoins offline, even if they developed the code of an online wallet. But The Guardian writer points out that,  “Bitcoin users face a trade-off between security and convenience. Storing the coins offline, as TradeFortress now recommends, is technologically more complex – and also makes it harder to spend them in the real world.”

Read More

Why Twitter Is No “Catalyst For A New Technology Investment Mania”

When I saw the headline that Twitter was sparking a new “catalyst for a new technology investment mania”, I spit my tea all over Apple laptop. Thanks Financial Times.

As Financial Times writes, because of Twitter, “a new era has officially begun.”

I think they’ve missed the point. Read More

What Will Come Of The Senate Hearing On Bitcoin?

[heading]What Will Come Of The Senate Hearing On Bitcoin? [/heading]

The meeting in Senate on November 18 will surely be historical, at the very least from Bitcoin’s perspective. Never before has the legislator gathered ’round in such a formal manner to discuss the darling of cyberpunks everywhere, the decentralized crypto-currency Bitcoin.

As they do so, Bitcoin is on the rise to $400, and perhaps even $1,500 by the beginning of the year.  At the time of this writing, Bitcoin is at $350, according to BitStamp. (at the time of editing, $355.)  Read More

“Buy Silver” Maintains Momentum Despite Silver Prices

[heading]”Buy Silver” Maintains Momentum Despite Silver Prices[/heading]

According to Google Trends, although silver sentiment has reached levels approaching those not seen since before the metal began its current bull market in, arguably, 2005, for the search term “silver,” Google users are still engaging the search term “buy silver” on a long-term growth trend, with Google even forecasting that the trend will continue its recent uptick. Read More

Shopify Now Supports Bitcoin, Enters As One Of The Biggest Companies In The Space

[heading]Shopify Now Supports Bitcoin, Enters As One Of The Biggest Companies In The Space[/heading]

In what is huge news for the world’s most well-known cryptocurrency, Shopify has announced this evening Bitcoin integration, and that people with stores at shopify can now accept Bitcoin. The feature is currently manual, but nonetheless this huge news, as the website Shopify is one of the largest in the world.  With nearly 55,000 links linking into Shopify’s website, it easily makes it one of the biggest Bitcoin affiliated websites on the net. From their recent blog post: Read More