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Sorry, But Maybe You’re An Idiot: Bloomberg Says Bitcoin Is Not A Currency

Bloomberg reports today that Bitcoin is not currency. There is nothing wrong with this assertion, other than the reasons submitted where fore are based on the baseless. But, before all that, I’d like to say that, no, Bitcoin is not just a currency. Bitcoin is not merely money. Bitcoin is something totally beyond the scope of monetary history. For 7000 years since the official discovery of silver, man’s monetary exchanges have been on a course for total centralization. Maybe you’ve learned about it in church as “The Great Work.” Maybe you heard about in your history books in school as “progress.” Or, maybe even more recently, you’ve heard about this tendency towards mandated centralization known as the “New World Order” via the “web.”

The Story Of The Cyprus Bail-In

Citizens of Cyprus, known as Cypriots, are finding out that their duly elected representatives have now sanctioned theft of their private bank accounts. President Nicos…

The Intrinsic Value of Bitcoin.

Bitcoin has gone parabolic in the Headlines.  Perhaps it is because of Bitcoins recent rise of over 200% percent since September of 2011. To be honest Bitcoin has not gotten the credit that it deserves. Among the Old Guard of the sound money champions, the biggest point of contention that they have with Bitcoin is that it has no “intrinsic value”.

Gold, Silver, Stock Market Disinterest Helps Bitcoin

The markets are in the midst of what will be remembered as a renaissance from paper-crack gamblers, especially the variety who only made money when the indexes, like the DOW, were up day-in and day-out. And they have been. If you are a devout paper addict, you’ve been doing great for the past month. Yet, despite the all-time highs and record winning streaks, people aren’t interested in the stock market. Just as everyone knows each politician is compromised or corrupted, so too will the markets give way to dizzying flash crashes or tumult in the Euro zone and eventually North America. All this in the wake of the 2008 banker bailout has driven the retail client out of stocks. Most of the people with money these days are heading out of paper, into real estate again or precious metals and other safehaven plays. Nobody trusts the stock market, for it is rigged and in the favor of the monied.

Global Political Awakening & Bitcoin

 For the first time in human history almost all of humanity is politically activated, politically conscious and politically interactive… The resulting global political activism is generating a surge in the quest for personal dignity, cultural respect and economic opportunity in a world painfully scarred by memories of centuries-long alien colonial or imperial domination… The worldwide yearning for human dignity is the central challenge inherent in the phenomenon of global political awakening… That awakening is socially massive and politically radicalizing… The nearly universal access to radio, television and increasingly the Internet is creating a community of shared perceptions and envy that can be galvanized and channeled by demagogic political or religious passions. These energies transcend sovereign borders and pose a challenge both to existing states as well as to the existing global hierarchy, on top of which America still perches

Namecheap Accepts Bitcoin

Yet another website has announced their acceptance of Bitcoin: Namecheap, the webs’ top domain buying service, now accepts the digital files for their services.  The company had been in works to begin accepting the currency for some time. Namecheap has served more than 1 million customers. Their statement went as such:

Bitcoin March 2 Pullback By The Numbers

March 2, the Mt. Gox chart shows a price fall from about $34.80 to $33.15. During this selloff, 22,000 BTC or 6.1 of the BTC…

Italy’s The Five Star Movement

In Italy, a famous comedian blogger who was found guilty of manslaughter in a car accident, killing three people, has led his party, The Five Star Movement, to international headlines as the underdog in Italy.

U.S. Customs Gold And Silver Regulations

U.S Customs regulations reads like this: “There is no duty on gold coins, medals or bullion but these items must be declared to a Customs…

Trace Mayer Discusses Bitcoin And Silver

Trace Mayer took the time to discuss Bitcoin and silver with GoldSilverBitcoin.

TM: Hello and welcome to the Run to Gold Podcast. I’ve got with us special guest Justin O’Connell of GoldSilverBitcoin. One Thing I admire about you is you’ve got an open mind. We’ve got some people in the gold and silver niches who don’t have open minds, whether it is Chris Duane who has been bad-mouthing Bitcoin for two years and continues to badmouth it or people who think they can just ignore it like James Turk at GoldMoney. What do you think is driving BTC?

GSB: Well, I think first and foremost it’s the internet. Everyone believes in the Internet. Bitcoin is a microchasm of the Internet that can actually lead it in new directions. Google is going to try to shutdown websites that provide links for users to copyrighted material. They are going to do this the same way they did with WikiLeaks, through a “financial blockade.”  WikiLeaks got around that with BTC, and The Pirate Bays will do the same.

What Is Bitcoin?

Bitcoin functions as not only a currency, but also a payment network for that currency. Bitcoin is  an intriguing technical feat.

It is both a digital currency unit and a global payment network through which one can send and receive the Bitcoin currency units.

Bitcoin Runs Laps Around Precious Metals, Nearly 40% Gains Since Feb. 1

The digital gold standard known as Bitcoin has shown impressive strength in the mist of the recent drop in all precious metals.

Gold lost 40 dollars in a 24 hour period to close for the weekend at $1610.30. This loss reflects a 2.4% drop. Silver had a more significant drop falling from $31.00 to close at $29.80 dollars an ounce.

This reflects a 3.4% drop in the common man’s gold. These drops have occurred despite, as Harvey Organ reports, the gold demand for the quarter was 6% higher year-on-year at $66.2bn marking the highest ever Q4 total and driving annual demand in 2012 to a record value of US$236.4bn.

What You Need To Know About Bitcoin And Precious Metals

For those long time purchasers of precious metals, understanding what is fundamentally money and the difference between it and currency,  is easy.

Precious metals have been money throughout history.

Their luster is desirable to all peoples throughout the world regardless of culture, education, or any other demographic that one can find.

Precious metals are of course “precious” meaning that they are limited in their availability and the enormous time and resources required  in order for one to be able to attain these metals.

Bitcoin too is money because it contains all the aspects of money that precious metals do.