In the second statement, they say USDs withdraws are not suspended, but that they are being processed slowly. Have there been any confirmations of USD withdrawals in the last week? Anyone? In any currency, not just USD?? |
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Then our Bureau of Labor Statistics is asinine. Tell it to the BLS.
The CPI has been adjusted all sorts of ways to reduce the visibility of inflation. It is losing trust as a metric, so this suggestion of how to fix it should be well received by them. Go for it.
The BLS has also been considered as the "Bureau of Lies and Stories" Inflation stats using the official 1990 method show how much revision and hedonics has gone on recently.... http://www.shadowstats.com/alternate_data/inflation-charts |
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Interesting fights !
96 wall just got eaten.
was there a wall? .. on what side? i'm just get out of my bed.. Just 100. Went down to 0.315. Just refilled. Voodah, 100 isn't a wall. There are any number of people here who could put that up out of petty cash. 1000 is a wall 5000 is a wallzilla wall  The ultimate wall. 160k btc last year  Doing it wrong  →  Now, that's a monster wall, and interesting too because 160k in coins is a special number to someone who comments here occasionally. |
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Eventus stultorum magister.
Alea iacta est |
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Interesting fights !
96 wall just got eaten.
was there a wall? .. on what side? i'm just get out of my bed.. Just 100. Went down to 0.315. Just refilled. Voodah, 100 isn't a wall. There are any number of people here who could put that up out of petty cash. 1000 is a wall 5000 is a wallzilla wall |
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Even the question is ignorant. Presumably what was meant is: What is the capital of the United States?
America is simply the twin-continental land masses between the Atlantic and Pacific.
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In fact, all I see is improvement.
OK. This is 2009. Can't imagine what an updated 2013 image looks like....  |
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This is significant, because even though the article quickly dismisses Bitcoin, it is mentioned along with the Chinese yuan. Consider how amazing it is that a newly invented currency, 5 years old, is theoretically comparable with the influence of one which represents a 5,000 year old civilization with over a billion people.
A further point is that reserve currencies are never chosen like some pathetic "basket of currencies" which economists might dream about. Reserve currencies force themselves onto the world stage by sheer economic power from sound fundamentals and global reach. Bitcoin embodies these principles.
Plus, of course, any objection by Krugman is not worth a piece of used toilet paper.
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PMed for date fixage.
You really need mod access, even just for this sub-forum |
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^ Gox just put a full page ad in the g8 summit.
If they were "fucked" I doubt they'd spend the cash to do that. Unless you think something very significant changed in the past week.
I think it may have been a little to bold of a move. Yes. They painted a target for the bankster-complex to aim at, not only on their backs, but on their faces too. |
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While it's true that bitcoin is likely imperfect, it is also highly adaptable. Any alt currency with an attractive new property will probably just give cause to integrate that property into the bitcoin protocol. The alt currency would have to acquire critical mass at an astounding rate to surpass bitcoin at this point. And the more time that goes by, the less likely that already highly unlikely event is to happen.
I wouldn't be surprised to see some alt currencies with properties that give them unique functions that bitcoin has no interest in adapting toward. Your imagination is the limit here.
Yes. At the moment it is Bitcoin dev doing all the heavy lifting and the clone-coin issuers just copy Bitcoin's upgrades. Now, if a clone-coin came up with a fantastic new add-on, which was liked by the market, then Bitcoin dev could simply enhance Bitcoin using the new code. Unless, the new coin went closed source, but that would centralize it and cripple their growth. win-win for BTC, |
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Something unusual on Gox, BTC is trading within a 20c band for the last couple of hours. Normally oscillates at least $1 or more.
A compressed price range often leads to a breakout.
which side ? thats the question anyone starting the up or down .. is having a pretty good slippage.. no big guys needed.. just a few buys or sells of 500 could start it No big guys... just $50k. Creeping up, but 27k BTC selling up to $110. Wow, some coins are coming onto the market... |
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What is bitcoin backed by?
Bitcoin the currency is backed by blockchain the ledger, with everyone's holdings. The blockchain is in turn is backed by decentralized replication, consensus, advanced cryptography and enormous computing power. Result: virtual gold. |
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Something unusual on Gox, BTC is trading within a 20c band for the last couple of hours. Normally oscillates at least $1 or more.
A compressed price range often leads to a breakout.
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1000
Ah. And I thought that was the latest Bitcoin price. *sigh* |
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Where is their definition of "cash equivalent"? Most cash equivalents I know of are things like stocks and bonds not virtual items.
http://www.fincen.gov/news_room/rp/files/sar_tti_09.pdfPages 6 and 7 you will see "cash or equivalent" as a separate instrument from stocks, bonds and most anything else of a monetary nature. So by that ludicrous reasoning Is Namecoin cash "equivalent"?
Litecoin?
Devcoin?
PPCoin?
BBQCoin?
"How silly do they want to look?" is really the question here isn't it?
They're all called crypto currencies for a reason. But because they have miniscule buying power they are well below regulatory radar, at present. Bitcoin can't be a super-currency or "gold 2.0" for buying stuff, but also monopoly and sea-shell money for regulatory purposes. Now, I know it can't be regulated in any traditional sense, as it stands, but regulators will always try because they need to justify their salaries, and preserve their bureaucratic empires. |
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Because Bitcoin isn't classified as Legal Tender, the way I treat it is more like goods and services.
No, this does not fly at all. The status of legal tender here is irrelevant. Legal tender is simply the currency which is designated as lawfully acceptable for all debts, public and private. So the US government must accept US dollars for taxes, court judgments, duties. A lender in the US must accept US dollars if offered by a debtor to repay a debt. The euro is not legal tender in the US, so is not acceptable for repaying any public debts, and is only acceptable for private debts at the discretion of the lender. The euro is however a cash equivalent, like all foreign currencies. A money transmitter is dealing in cash equivalents, and the FinCen guidance now includes decentralized virtual currencies as a cash equivalent. A cash equivalent is not a good or service. However, it seems the BF can successfully argue that they are not money transmitting. |
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The letter, signed by Paul Clayton, senior counsel at the Department of Financial Institutions (California’s financial regulator), gave the Foundation 20 days to respond, although it was only received last week. I wonder if it would have been more appropriate if Bitcoin Foundation had released this sooner (e.g., same day). At a minimum, if someone at the Foundation learned of this order and then traded before the order was publicly released, that might be something another government agency might consider to be "insider trading". Insider trading laws do not apply to currencies. |
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