Category Archive : GSB daily blog

DefCon 0: Intelligence Agencies To Stalk Hackers In Heated Breakup

[heading]Defcon 0: Intelligence Agencies To Stalk Hackers In Heated Breakup[/heading]

Romantic relationships and business relationships are complex. And, sometimes, a break is the only remedy for tensions. Thus, Defcon has asked the intelligence community to give it some time alone… Read More

Bitcoin & Frontier Markets

[heading] Bitcoin & Frontier Markets[/heading]

In the age of paper money, banks essentially dominated the payment system.  But, as the world moves into a digital payment based model, the supremacy of these banks have been questioned. Read More

What Do Oregon, Utah & New Hampshire Have In Common?

[heading] What Do Oregon, Utah and New Hampshire Have In Common?[/heading]

They all love Bitcoin!

As can be seen at this link here, Bitcoin is most popular (in terms of search queries provided by Google in the US) in the states of Oregon, Utah and New Hampshire. While Bitcointalkers did what they could to determine a reason why these states are on top, the truth of the matter is Bitcoin is diverse, and people from all walks of life are interested in the technology. Read More

How To Make A Bank’s Funds Vanish

[heading] How To Make A Bank’s Funds Vanish[/heading]

In 1953, on the eve of his death, Josef Stalin said that if the Soviet Union had Hollywood, the whole world would be communist.

And, today, because Hollywood corporations are beholden to banks, the world won’t know about Bitcoin.

As The Four Horsemen unleash their final magic trick at a performance in Vegas, a bank in France is robbed. The explanation for how this could be done? Well, fiction.

And, as many know, truth is often stranger than fiction. Read More

Bitcoin: What Innovation Looks Like

[heading]What Innovation Looks Like[/heading]

With commercial banks now hiring analysts to determine what exactly the market of Bitcoin means, there is growing understanding that the future of finance is here. Read More

Bitcoin & Silver In Tweets & Trends

[heading]Bitcoin & Silver In Tweets & Trends[/heading]

The month of June saw a steady increase in Twitter mentions of “bitcoin” with a steep drop off on July 1. The increase, however, as can be seen below, was indeed formidable. According to Google Trends, interest in terms of Google searches remained level, despite ending near the top-end of its one month chart. Read More

S&P Downgrades Barclays, Deutsche & Credit Suisse On Eurozone Uncertainty

[heading]S&P Downgrades Barclays, Deutsche & Credit Suisse On Eurozone Uncertainty [/heading]

S&P is not so sure about European investment banking.

Barclays Plc, Deutsche Bank AG, and Credt Suiise Group all had their credit ratings lowered by Standard & Poor’s due to new rules and “uncertain market conditions.

S&P also said the risks included unstable global markets, the “uncertain implications of the unwinding of quantitative easing measures” and the eurozone crisis. Read More

Winklevoss Bitcoin Trust Brings Bitcoin To Mainstream Investors

The Winkelvoss Bitcoin Trust, to be headed by Cameron and Tyler Winkleveoss, would sell around $20 million worth of shares, each representing a fraction of a single Bitcoin, if the plan came to fruition. First, it must be approved by the US government. Read More

ACQUITTED ON ALL 13 COUNTS, DEFENDANT WINS FOR FREE SPEECH

[heading]ACQUITTED ON ALL 13 COUNTS, DEFENDANT WINS FOR FREE SPEECH[/heading]

As their dreams of totalitarianism faded before their eyes, a Judge, a Prosecutor and a City Attorney’s Office stooped to an all-time low, embarrassing themselves and also alienating themselves from those without the system, and starting a social media movement which could result in all of their removal. Read More

Gold & A Storm of Data Heading The Market’s Way

[heading]Gold & A Storm of Data Heading The Market’s Way[/heading]

With a storm of data heading the markets’ way, things should be volatile in the coming days. Gold has reflected just this in early trading.

Gold persisted on with its blazing Friday performance on Monday, increasing in overnight (Sun-Mon) trading from $1235-$1256 by 12:45pm (EST), in part based upon a factory employment drop last month to the lowest in nearly four years. This despite an increase in manufacturing. Read More

Bitcoin By The Numbers: How Many Americans Know of Bitcoin? How Many Trust It?

[heading]Bitcoin By The Numbers[/heading]

Bitcoin has made impressive inroads in 2013 towards the mainstream. Read More

The Reserve Bank of India Wants An End to Virtual Currency

[heading]The Reserve Bank of India Wants An End to Virtual Currency[/heading]

Yet another government has shown its cards: The Indian government has concerns over the rise of virtual currencies in recent memory. Read More

Ecuador Offers US Human Rights Aid, Won’t Hand Snowden Over

[heading]Ecuador Offers US Human Rights Aid, Won’t Hand Snowden Over[/heading]

The US is no longer a superpower, in part thanks to Edward Snowden. Read More

Bitcoins Tax Free in Germany After One-Year

[heading]Bitcoins Tax Free in Germany After One-Year[/heading]

Bitcoin increased 25% in German Euro terms over the course of the day on one simple announcement: the p2p digital currency would not be subject to a litany of taxes.

Bitcoiners have been waiting for the Bitcoin shoe to drop in Germany. On the heels of Canadian and American rulings, it has been of great interest how Europe would respond.

Germany’s financial role since the onset of the economic crisis in 2009 has at times been compared to the Nazi party’s hold over Europe, with Cyprus bank accounts being looted most recently and Greece ravaged before that.

Despite the hawkish insistence of Germany that the rest of Europe – in particular the southern countries – capitulate to the industrial center or historical core of Europe, Die Muetterland apparently has a soft spot for digital currencies…for now. Read More

A Confiscatory Redenomination of Gold

[heading]A Confiscatory Redenomination of Gold[/heading]

The world has entered into a neo-soviet situation, where prices are fixed just as they were in the Soviet Union. The quicker you come to understand this, the quicker you’ll come to understanding why gold is where it is today.

If you want to better understand the evolution of the gold price in the 21st century, looking towards the Soviet example could help. Read More

Tomorrow’s Financial Times Front Page & The Capitulation of Gold

[heading]Tomorrow’s Financial Times Front Page & The Capitulation of Gold[/heading]

“The word at the moment is capitulation,” the precious metals analyst at Credit Suisse told the Financial Times for their June 27 edition.

The Financial Times (US) tomorrow will feature the tumbling price of gold. With a large headline that reads “Gold Price tumbles on fears of an end to QE,” the Financial Times pushes forward a flawed storyline in the price of gold. Adding in the June 27 article  that last week’s selling was led by long-term investors, the precious metals analyst at Credit Suisse and Financial Times are sure to add to the low sentiment across the gold and precious metals complex. Read More

The Awakening Of Edward Snowden

[heading]The Awakening Of Edward Lowden[/heading]

What makes “Millenials” so different? Well, for many Millenials, some of our most formidable life experiences took place between the years of 1990-2001.

What makes 1990-2001 so much different than the rest of the dates on a relative timeline? Not very much. Except for this one thing: there was no boogie man prevalent in the subconscious mind of these individuals. Their parents would not experience such a time, and neither would their children

the-nsa-has-no-idea-how-much-secret-data-edward-snowden-took-and-that-has-them-very-worried.jpg

What do I mean by “there was no boogie man?” By that I mean there was no collective group deemed a threat to the entire collective of a nation – for our parents it was the Soviet Union/Communist threat, and for our children and us it has been and will be terrorism. And so, we grew up in life with a rather idyllic version of the world.

It could be that Edward Snowden is a prime example of a millenial life.

In 2009, four years ago, as Snowden was 25,  somebody using his screen name  appears to have trashtalked leakers, telling a friend of Edward’s that leakers “should be shot,” according to the chat logs made public on Wednesday by Ars Technica, which hosted the exchanges.

“They’re just like WikiLeakers,” the person using the screen name wrote in January 2009. The person on the other end of the discussion wrote, “They’re just reporting, dude.”

“They’re reporting classified” material, wrote the user behind Edward’s screen name. “Those people should be shot” in their privates.

The messages stem from Switzerland between 2007 and 2009 and thus appear to closely match the timing of Mr. Snowden’s service in Geneva as a CIA technician. There is some uncertainty as to whether the text file “evidence” is real. The New York Times, to be sure, has reported as if it stands up to tests.

If true, Snowden’s once condemnation of leaks could be a number of things.  Regardless of how the evolution occured, Snowden now sits in the Sheremetveyo Airport in Moscow, hiding from American prosecutors who have charged him with espionage and theft of government property for leaking the NSA material.

The Guardian has reported that Mr. Snowden said in an interview that his disenchantment with American intelligence efforts began with his work for the CIA in Switzerland, in Edward’s mid-twenties.

There is one piece of the storyline that does add up as per Edward Snowden’s Awakening; that is, swimming in a sea of digital soup, the Millenial generation experiences life different than does the older generation. And having that subtle wisdom of a world in which no boogie man exists, many are discontented by the way things are.

And, thus, Edward Snowden could be a true product of his time: a succesful Millenial with a hint of recklessness, a fish in a digital sea.

Gold’s Biggest Quarterly Drop Since 1968: A Farce Or Sign of Times?

[heading]Gold’s Biggest Quarterly Drop Since 1968: A Farce Or Sign of Times?/heading]

Gold and silver prices have hit their lowest points since August 2010.  But, are investors and pundits looking at all the wrong indicators? It wouldn’t be surprising if they were, thus leading to liquidation spurred by manipulation and more liquidation. It is the Ivy league types who have buried precious metals under a mirage of arbitrary data points. Read More

Bitcoin Reaches 1 Million US Downloads & The Future of P2P

Bitcoin is the second great P2P file sharing system. The first is the BitTorrent system.

The P2P payment network has continued its growth, having crossed the one million download mark. Read More

Eurogroup Legitimizes “Bail-In” For Europe

[heading]Eurogroup Legitimizes “Bail-In” For Europe[/heading]

Did you think Cryprus was a “one-off?”

Himagegen.ashx.jpgopefully you didn’t put any money on it, as Eurozone finance ministers agreed over the weekend that freezing accounts was an acceptable way to inject money into struggling banks. The Eurogroup stated in the agreement that “An appropriate level of bail-in will be applied before the bank is recapitalised by the ESM in line with EU State aid rules.”

Enabling the 500bn euro ($660bn; £427bn) European Stability Mechanism to help banks aim to ensure that the European Union won’t fail.  The ESM, now able to inject a total of 60bn euros into trouble lenders, has awarded themselves the privilege to dip into depositor accounts first so that lenders – not national governments- may be made whole.  As BBC writes,

 In addition, the bank’s shareholders, bondholders, lenders and even large depositors, may also have to contribute ahead of any funds from the ESM, a process known as a bail-in.

European technocrats hope that the new agreement comes into effect in late 2014, although many details will still need to be agreed upon.

A major change, nonetheless, has taken place. Heretofore, the ESM could only bail out national governments, not banks. There was precedent for such a move, however, and they can do it with depositor money first. In June 2012, the ESM financed the bailout of Spanish banks, but indirectly, with the Spanish government ultimately on the hook for future bank losses (and of course losses would come).

banksters_robbing_sheeple.jpg

Making the problem of insolvent banks worse is the fact that most eurozone governments are beholden to the banks, which lend them the money they then for some reason call “legal tender.”

The new banking directive was vague in its parameters regarding what exactly a “bail-in” is, but when Europe’s technocrats do decide, the decision would apply across the whole EU.

So, one-by-one, countries along the periphery of Europe will go bankrupt forcibly trying to bailout international banks at the behest of an EU institution. How many countries will go down this road before the whole of Europe sees the writing on the wall?

Searching For a Critical Mass In Bitcoin

[heading]Searching For a Critical Mass in Bitcoin[/heading]

For a physicist, the “critical mass” is the amount of radioactive material that must be present for a nuclear fission explosion to occur.

For a Bitcoiner, the “critical mass” is the number of individuals that must adopt Bitcoin for the commanding heights of finance and government to adopt true “fiscal responsibility,” thus leaving bitcoiners be… Read More

Bitcoin & The Commercial Real Estate Collapse

[heading]Bitcoin & The Commercial Real Estate Collapse[/heading]

In 1340 AD, the last great real estate collapse in history took place in Italy. It almost destroyed civilization. When real estate prices fell by 50 percent in Florence, Europe was thrust into a dark age.

Read More

Could Silver Save the Human Race?

Could Silver Help Save The Human Race?

Silver has been used to fight infection for thousands of years. Hippocrates first described its antimicrobial properties in 400 BC. Read More

Section 215: The NSA Wants “Any Tangible Things”

Section 215: The NSA Wants “Any Tangible Things”

The government demands the turning over of your bitcoins. You’ve held them on an online exchange, so your stash is vulnerable. And, under the Patriot Act, the government maintains this authority. Read More

Bitcoin: The Decentralization of Privacy Or A Consumer Rights Breach?

Bitcoin: The Decentralization of Privacy Or A Consumer Rights Breach?

Lately, Bitcoin has been getting it from all sides, like a cheap whore when the camera is turned on. Whereas once the concern was that Bitcoin made transacting almost anonymous, the problem, according to PC World, could actually be that Bitcoin is not private enough. PC World writes:

Businesses that accept Bitcoins as payment risk making the transactions publicly traceable, which could get companies in trouble with government regulators, experts say.

 

The privacy weakness within the digital currency’s payment network was reported on Wednesday by Wired, which found troubling possibilities related to transaction tracking. The problem is in the way the Bitcoin peer-to-peer network works.

Because Bitcoin “associates” senders and recipients of money with an ID number, and all sales are recorded in the Bitcoin public ledger, an entity could pay another company in Bitcoin, then track all payments to that address.

A graph could presumably be developed around that company and the entities with which it does business, finances, spending habits, and so on.

Does Bitcoin Breach Consumer Rights?

“There is a lot of uncertainty today about the scope and sharing of consumer protection responsibilities—and associated liability—for digital and mobile financial services,” said Mark W. Brennan, an attorney at the law firm Hogan Lovells and a member of its global payments team.

The Federal Trade Commission has recommended that companies accepting new financial products and services, like Bitcoin, take responsibility in keeping consumers’ personal data private.

And this is something Bitcoin companies can do, no problem. With additional layers of technology – either available or coming in the future as part of the Bitcoin protocol, such as colored coins – as well as enhanced authentication, end-to-end encryptions and secure storage, making Bitcoin private is easy.

“These Bitcoin developments are a reminder that businesses in the financial services ecosystem should assess their existing data privacy and security practices and other terms and conditions of service to ensure that they are consistent with evolving legal developments,” Brennan said.

One simple way to stay within the purview of law regarding consumer rights is to use a new public facing address for each transaction.

Fundamental Consumer Rights & How Bitcoin Can’t Play Along

In the European Union, a blanket regulatory system has been instituted that gives its citizens certain fundamental rights – like the right to obtain copies of records held about them by companies and institutions. Many proponents believe US citizens should be afforded this right, and the Obama Administration has taken efforts to make this so.

But, the entity of Bitcoin – that is, the protocol –  can not be asked for copies of transactions records, even though they exist in the Bitcoin public ledger.

Governments on either side of the Atlantic are fighting over which values privacy the most, except when it comes to expectations of state privilege. Regulators from each side claim “deficits” on the part of the other.

Europe to this day moves forward with a “one-regulation-fits-all-data approach,” as the New York Times called it.

“The ecosystem of the Internet is very delicate,” says Kevin Richards, senior vice president of federal government affairs at TechAmerica, a trade group that represents companies like Google and Microsoft. “It’s not wise to have an overly broad, prescriptive, one-size-fits-all approach that would hinder or undermine the ability of companies to innovate in a global economy.”

European Union member-states have data protection laws already, based on a directive from 1995 that described principles for the collection of personal information.  The proposed new rules would standardize data protections across the 27 member states.

Just last month, Jan Philipp Albrecht, a European Parliament representative who reviewed draft legislation  proposed additional rights for citizens, like the right not to be subject to consumer profiling.

But, with Bitcoin’s public ledger viewable online, the onus will be 100% on the Bitcoin user to ensure that he or she does not become subject to consumer profiling.

President Barack Obama last year introduced a  “Consumer Privacy Bill of Rights” that if passed, would ensure US citizens same base protection as the European rule wishes to reinforce. For instance, the right of access to records that companies hold about them; the right to correct those records; and the right to have limits on the personal data that companies collect and keep.

Although Bitcoin is not incorporated as a traditional business, the unpredictable efforts of regulators to define Bitcoin have opened a space in which what Bitcoin is, in a legal sense, is unclear.

The world will simply have to come to terms with the vector of responsibility. The government cannot protect us from ourselves. That is an unacceptable expectation for any individual to place on another individual or group thereof.

Bitcoin users will remain responsible for ensuring their own privacy. Thus, the result – with Bitcoin’s help – is the decentralization of privacy.

The public ledger, known as the Block Chain, will have to appease regulators as record enough for Bitcoin users. If that is enough, then software can be developed in which a log of transactions based on a certain ID number can be generated and sent as a digital file to an e-mail address.

Low Sentiment, Record Sales: The Paradox of AG

Sentiment has not been so low in silver since the beginning of the bull market ten years ago.

So, is now an excellent time to buy? Read More

The Disintermediation of Society

Human action is comprised of cost-benefit analysis, and although at first it might be extremely difficult to determine what the true cost-benefit of a certain action is, oftentimes it becomes clearer over time. Read More

Why The NSA Needs Bitcoin

State surveillance has been going on for more than 150 years. However, eavesdropping – that is, in the sense of listening in on someone’s conversation – is a certainly ancient practice indeed. Read More

2013 Market Crash, Gold & Silver

With lofty sentiment spreading from Japan to Europe to US markets, it is no wonder wiretapping and armed conflict in Syria have caught the attention of media.

But, it can all really only mean one thing: we’re nearing a top in the stock market. Many indicators, above and beyond the run-of-the-mill ones, show us this. Read More

The 21st Century Digital Currency Arm’s Race: America’s Only Hope?

The 21st Century Digital Currency Arm’s Race: America’s Only Hope?

So, let’s be clear: 56.7577° N, 86.4196° W and 40.4230° N, 98.7372° W. In the former geographical coordinates, Bitcoin is free of banking regulation. However, in the latter, Bitcoin is not free from banking regulation.

The case grows increasingly murky in 32.9043° N, 110.4677° E, otherwise known as China. Perhaps the geographical coordinates of 35.1234° S, 71.5720° W – that is Chile – will keep with their recent history of laissez-faire economic policies and be kind to Bitcoin.

Or maybe one with bitcoins would be best off at 18.1667° S, 178.4500° E, far away from civilization in Fiji. Read More

Bilderberg 2013: Where The Cutting Edges of Internet Technology, Bitcoin & The Old Guard Meet

[heading]Bilderberg 2013: Where The Cutting Edges of Internet Technology, Bitcoin & The Old Guard Meet[/heading]

Do the rich billionaires at Bilderberg gather ’round for golf and appetizers or do they sit in conference rooms plotting the future? That seems to be the crux of the Bilderberg debate. Read More

6/2/12 Bitcoin Flash Crash A Whisper Time

And then there was $130, for a short time. With Bitcoin heading to $136 recently, the early morning hours of Sunday saw what could be considered a flash crash of sorts. Read More

Rebuilding The Case For Silver

Silver got to $50. So what?

I wrote after the price collapse on MayDay 2011 an article I entitled “The Sorrow of the 49er.” It looked into those who had come into the silver story, as we all know now, late. The price tumbled, and many middle classers were left underwater.

Oftentimes, these individuals never had a chance to consult anyone other than a shop owner, who had no problem moving product. Read More

Crisis Time? Dollars’ Worst Drop In Nearly 2 Years

The conversation is swelling across the globe: once again, it’s crisis time.

The dollar is suffering its biggest 2-day drop in 19 months. But, Reuters says it’s cool, uptrend intact.

State-controlled Press TV, on the other hand, says the dollar is over.

Japan, the dollar, Syria, Russia…

…Peace in Baghdad, Afghanistan, Lybia?

…We know Japan’s bond market is doing poorly, but how about the radiation. They cool with that?

CNN reports this morning that despite Japan’s jitters, US stocks have not been shaken. No word on Fukushima.

But, the US dollar and precious metals prices certainly have been shaken.  Bitcoin is right there alongside precious metals, although it seemed a little bit more clever to the panic, sliding upwards over the previous three sessions.

Gold shorts are essentially at the same peak low as in 2009, before gold ran from $900-$1920 scantily pausing for a break. From $1300? One could easily suspect that $1,600 is right around the corner.

$46 silver doesn’t seem that unlikely should go do that.

Check out the gold shorts, denoted by the green line for this exercise:

Timeframe: 5 minute | hourly | daily | weekly

Off 10% from its peak, Japan’s Nikkei has not proven sustainable. Thirty years into a depression, Japan has lived up to its expectations, which have been low.

On this day, despite a yawn from the US stock market, precious metals and the US dollar told the story.

From state-controlled media such as Reuters to Press TV, two very different pictures of the future of the dollar were outlined. Press TV foresaw the end of the dollar.

In the former, Reuters contended that, despite the drop in the USD index of about 2%, the USD uptrend remained intact.

The dollar was down across all indexes, for people are extricating themselves of “positions across the board.” Investors are getting out of the USD; they are getting out of the stock market; they are getting out fiat currencies in general.

And, if you believe at all in supply-and-demand, the action of gold silver, platinum and palladium over the past decade – and by doing so, you’re really just looking at the action of humans – you’ll see that there is buying support.

Bitcoin, since 2009, has been even more dramatic. There is no doubt that, if the protocol and its protections prove invincible, then demand will be stalwart.

Even though short positions in yen increasing, and dollar longs also increasing, the dollar could not find its footing.

The dollar lost 1.3 percent against the yen to trade at 101.08 yen. Against the Swiss franc, the dollar slid 1.5 percent to 0.9619 franc.

Even through a picket fence, one can see the other side. And from behind the blinder of economy, we peer through and see what’s there: gold, silver and bitcoin.

The pops today in gold and silver were familiar. It was the sort of evening and morning which younger gold and silver bugs used to stay up all night/wake up early for. This pop of last night and today carried an excitement reserved as of late for Bitcoiners.

The inverse story of today is also familiar: one in which the US Dollar has traded down. This is the true root of the rise in the metals on this day. The dollar will trade up again, but over time as minds are released from the play of domination and subjugation, the USD will serve no purpose, and never trade again.

And then, things will be different.

 

US Media Blackout of Canadian FinTrac Ruling

Last week the Bitcoin world was surprised to learn that Canada’s FinTrac would not hold Bitcoin exchanges to the strict Anti-Money Laundering and Know Your Customer regulations of the financial industry. Read More

JP Morgan Rollbacks Metals Forecast

This just in.

Analysts at JP Morgan on Cazenove on Tuesday revised down the price forecasts for most metals, including cutting the outlook for gold in 2013 to $1,595 an ounce from $1,745 previously expected.

They didn’t note what could possibly be undermining a logical metals reaction to incessant quantitative easing. Read More

Liberty Reserve Shut Down By US, Spanish Authorities & Owners Arrested

On the day after Memorial Day, US authorities indicated that they had shut down a Costa-Rica based money transfer company Liberty Reserve which they claimed aided cyber criminals the world over launder $6 billion in illicit funds using a digital currency that was not Bitcoin. Read More

Chinese, European Union Solar Panel Talks Break Down, Silver Still Slumping

European Union and Chinese trade negotiations fell throw on Monday. China called upon the European Union to cease the imposition of tariffs on solar panels, and the European trade comissioner complained that China was forcing individual countries to ensure that no consensus was reached. Read More

The Protocol Loads The Gun, The Environment Pulls The Trigger: Bitcoin, An Evolution

The idea of crypto-currencies goes beyond the life of Bitcoin, for there are many sorts of similarly decentralized currencies born, in vitro or not even a sparkle in its founders’ eyes. Where one crypto-currency ends and another begins will prove to not be so clear. Read More

North American Union Shattered: Canada Goes Laissez Faire On Bitcoin, US Goes Draconian

With Canada’s letter from their Financial Transactions and Reports Analysis Centre (FINTRAC), we see a play of two paths by the North American powers. The paths are betokening of how dynamic, new and spontaneous Bitcoin and decentralized virtual currencies are. Read More

Bitcoin Beyond Money: Peer-to-Peer’s New Paradigm

In the past year, discussion of Bitcoin as a currency or money has overtaken an earlier paradigm in which Bitcoin began to be interpreted as beyond money and currency. Like many argue that the US Constitution was written in an earlier time, say “before automatic weapons” or “equality,” and thus making it irrelevant, many individuals have noted the ways in which Bitcoin is actually a part of a paradigm outside the purview of money and currency. While containing most, if not all, of the characteristics of Aristotelian money, it also portrays Platonic interpretations of what money is, such as that the value of currency should independent from the material with which money was made. Thus, Bitcoin is both conservative and progressive all at the same time. Read More

Misplayed Game: How Governments Have Failed To Regulate Bitcoin

In March of 2013, Bitcoin entered into a third phase of its evolution. Whereas the first two represent creation (2009) and popular acceptance, the third began as FinCen published a guide on how virtual currencies such as Bitcoin would be managed by the US government (and thus, by extension, all governments under the thumb of anglo-americanism worldwide).  In the wake, government agencies began cracking down on exchanges and wallets such as Mt. Gox and Dwolla. Read More

Big Banks: The New Morality Police

In the US, financial institutions are acting as morality police, rejecting individuals from acquiring bank accounts due to the nature of their careers.

This naturally leaves them little choice, and will likely lead many individuals to grow open-minded towards alternative currencies such as Bitcoin, gold and silver. Read More

Europe, US Leaders Target Money Laundering

Money laundering has world leaders acting jittery. With US authorities going after Mt. Gox and Dwolla in a rather sloppy way, and Europe meeting in order to create information exchanges between nations, the clampdown on personal finance continues. Read More

PayPal, Facebook & Bilderberg Heavyweight Peter Thiel Enters Bitcoin Space

[heading]Peter Thiel Enters Into Bitcoin Space[/heading]

BitPay has announced a capital raise of $2 million led by Peter Thiel’s Founder’s Fund. Max Keiser’s Heisenberg Capital was also a part of the capital raise.  Thiel, through Valar Ventures, also invested $6 million into Transferwire, a p2p online exchange around the same time.

What this betokens is the future of Bitcoin. This will be a future in which Mt. Gox and all the other usual suspects are no longer the main players of Bitcoin. This torch will be passed onto major transnational corporations whom already have Money Transmission Licenses and, in most cases, are operating in the US or were at least founded there. Read More

The Future Of Bitcoin In a Magic 8 Ball

By Justin O’Connell, Author of Bitcoinomics

The oracles in banking have let it be known. They’ve looked into their magic 8 balls and pulled the future right out of the black and blue depths: “I would be very surprised if Bitcoin is still around in 10 years,” said Bremmer, the founder and CEO of Eurasia Group, the world’s largest risk consulting firm. He knows that commercial banks are looking to enter in.

To be fair, GoldSilverBitcoin ran its own magic 8 ball experiments on the future of Bitcoin. Here is what we came up with in a best of 3.

“What is the future of Bitcoin?” we asked. Read More

ASB Tattle-Tellers Running The World While Strung Out On Coffee Poised To Reject Bitcoin

From author of Bitcoinomics, Justin O’Connell

Bitcoin skeptics don’t understand one important thing: that virtual currencies are already here and they’ll have, most likely, no effect whatsoever on that. First of all, everyone knows that the Federal Reserve acts as a plague of egomania blinding all of society to its self-important cruel and insane way of living. That’s mostly because former Associated Student Body kids are running monetary policy. That means two things: 1) the tattle-tellers are in charge and 2) they’re still sucking on the teet of some wrinkly and pungent Principal, now referred to as a “President”, who is still wearing a suit and tie day-in, day-out nonetheless. And, that’s with all due respect to the President of course. But, really, some shady building down the block known as the “district office” or, in adult life, the Pentagon, is really responsible for the whole thing. These former Associated Student Body reps are faithful to the number one drug-pusher on the streets: Starbucks. Sipping on some Joe for many years in a row, stooped in habit, has led to a numbed state of yes-saying, a hallucination where straight ahead is the only mode. Read More

RFID & The Fiat Paper Trail: The Death of Cash & Virtual Currencies Bright Future

[heading]RFID & The Fiat Paper Trail: The Death of Cash & Virtual Currencies Bright Future[/heading]

US researchers have introduced a new way of embedding traceable chips within so-called “smart” paper so that banks and governments can guard against counterfeiting and even track the usage of paper money.

The innovation is perhaps the last after many centuries of fiat currency, considering the rise of virtual currencies in recent months and years. Read More

History: BitcoinATM Demonstration

In a riveting talk, CEO/President Evan Rose walked the audience through two transactions: Cash-in and cash-out. In what would represent the first hardware that undeniably brings Bitcoin to mainstreet, the CEO discussed ways in which the spreading of Bitcoin could be achieved through the BitcoinATM. Watch history in the making below:

Read More

Government Will Be As Successful At Regulating Bitcoin As Its Been With File Sharing

“If you guys want to be a shill for the financial industry and support a shadow currency that people use to purchase drugs and money with—have a party, man. My job is a regulator; I’m going to look after it.” said CFTC commission Bart Chilton to a group of CNBC television hosts, evidencing his dim worldview. Read More


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