[heading]Bitcoin Foundation Meets With Regulators Across US Government Offices[/heading]
With increasing amounts of pressure being put on the decentralized virtual currency Bitcoin, representatives of the Bitcoin Foundation – a California based nonprofit – have organized an event bringing them together with officials across governmental bodies, from the Federal Reserve to the IRS.
“Look guys, Mr. Federal Reserve, Mr. IRS, let’s be honest….how many users will ACTUALLY be using VPN?”
[heading]Bitcoin Vs. Fiat’s Best: The Norwegian Kroner[/heading]
A “safe” fiat currency? There can be no such thing…
Or can there?
First of all, a nation’s currency is issued by its central bank, and a central bank, just like an ordinary bank, has assets and liabilities.
Assets that a central bank might have are things such as government bonds and gold. A central bank’s liabilities include the nation’s money supply, known as central banks ‘notes,’ even though most of these exist digitally these days.
[heading]1 Big Reason September Could Be Silver’s Month[/heading]
Silver has corrected since its’ 2011 high of nearly $50 an ounce. At that point, “49ers” ran in droves to the devil’s metal, only to lose considerable amounts of wealth, vanished in the Sunday selloff on MayDay of that year.
Now, more than two years later, many silverbugs learned a lesson that many people in the banking crisis learned: cash is King. In other words, those who control the cash are in control.
[heading]Big Banks Prepare To Exit Physical Commodities[/heading]
JPMorgan made headlines last month with an astonishing announcement that it would be getting out of physical commodities. This was shocking for everyone who had followed the contentions that the bank was in fact manipulating the commodities, like silver.
Then, revelations about how banks were manipulating the storage warehouses and aluminum markets of some commodities. All of the sudden, banks were coming under mainstream pressure for physical commodity manipulation. No explicit mentions in the mainstream regarding silver. After all, the SEC had already let JP Morgan off the hook.
[heading]5 Reasons Why Bitcoin Is Not Anonymous[/heading]
Last Monday the DHS was sent a letter from the US Senate Committee on Homeland Security and Governmental Affairs asking for “any information, plans or strategies on how it currently plans to treat virtual currencies, including Bitcoin.
Posted on the Committee’s website, the letter explains the attractiveness of the currency for investors and entrepreneurs with its potential for profit and quick payment solutions. But it also warns that its “near anonymous and decentralized nature has also attracted criminals who value few things more than being allowed to operate in the shadows.”
[heading]Germany Recognizes Bitcoin As “Private Money”[/heading]
Is Bitcoin legitimate? Is Bitcoin illegitimate? This is something for individuals to decide, not countries. But, what does it mean that country’s are adapting to decentralized currencies, and what effectiveness will they show in the long term? Only time will tell.
Bitcoin’s legitimacy continues to be asserted as yet another government has gone so far as to give the decentralized virtual currency “private money” status.
Germany has recognized Bitcoin for legal and tax purposes, meaning it is the first country to take an official stance on the status of using the online currency as money.
[heading]Bitcoin To Replace Pennies & Nickels?[/heading]
In this month’s edition of Futurist magazine, an article asked experts what they did not expect to be around in thirty years. One individual in particular, Virginia Holbert, responded:
“pennies and other coins are becoming less useful, as parking meters, tolls, and public transits use smartcards and RFID technologies to streamline payment. Presumably by 2030 we will also see widespread acceptance of virtual currencies such as Bitcoin.”