You do realize that Google Wallet is a huge data mining operation, don't you? That completely defeats the purpose of Bitcoin.
I wouldn't be here if I only cared about mobile payments.
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http://www.google.com/wallet/So Google wallet is finally launching. Obviously it's still linked to flawed currencies and banking systems, but it could be a push for online and mobile payments, allowing other options like Bitcoin to ride the wave. What do you think? Are there any projects to implement Bitcoin on Google wallet? how about exchanges from bitcoin to Google's "prepaid" card?
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Here's the video of the hearings in YouTube Hearing on Sound Money Sept 13 2011 http://youtu.be/1ChBR0mSWhISome pretty interesting comments on bailouts, TBTF, fractional reserve banking, fiat money... definitely worth the watch.
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This gives some details: http://www.goldmoney.com/gold-research/gold-money-and-currency-competition-in-the-us.htmlGold money and currency competition in the US Dr. Lawrence Parks, of FAME, who was interviewed by James Turk for the GoldMoney Foundation not long ago, testified on the severity of the fiat currency situation and the very real danger of a dollar collapse. Dr. Lawrence H. White, author of “Competition and Currency”, also testified. Many of the subjects discussed at these hearings will be familiar to our readers: fiat money, competing currencies, gold money, legal tender, inflation, the gold standard and full reserve banking.
Of course the political discussion is no longer academic, since a growing number of alternative currencies already exist, and history is also full of long lasting real life examples, many of which you can learn about at the GoldMoney Foundation.
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Ron Paul's bill would be the best thing that ever happened to bitcoin: H.R. 1098: Free Competition in Currency Act of 2011 http://www.govtrack.us/congress/bill.xpd?bill=h112-1098To repeal the legal tender laws, to prohibit taxation on certain coins and bullion, and to repeal superfluous sections related to coinage. no State may assess any tax or fee on any currency, or any other monetary instrument, which is used in the transaction of interstate commerce or commerce with a foreign country.
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Good point. Looks to me like he didn't spend 20 seconds to even read the wikipedia article about bitcoins. The most directly false statement was:
Actually Krugman usually does his homework and then plays dumb when he wants to mislead. did you see the metadescription for the article? "Digital, but still a barbarous relic." He hates the idea of bitcoin, just as he hates gold and all and any currency competition. Without money monopoly he and his keynesian buddies are nothing.
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In "Golden Cyberfetters" http://krugman.blogs.nytimes.com/2011/09/07/golden-cyberfetters/Paul Krugman knocks one of bitcoin's best features, that it cannot be printed at will by politicians and Nobel prize winners at a central bank. As a Keynesian, any fixed rules which cannot be manipulated at will by central planners are obviously anathema to him.
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Shop is looking great. I bought a couple of things before the mybitcoin debacle and I have just picked them up. No complaints.
I'll definitely will be a returning customer.
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8. EXCHANGES, CARD PROVIDERS, MONEY SERVICE BUSINESSES AND CASINOS Unless permission is expressly given by GoldMoney..... Of course the above is something to keep in mind for anyone who runs an exchange.
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8. EXCHANGES, CARD PROVIDERS, MONEY SERVICE BUSINESSES AND CASINOS Unless permission is expressly given by GoldMoney, a Holding may not be used to operate a money service business or online casino, enable the funding of a debit card or to complete an exchange between goldgrams/silver ounces/platinum grams/palladium grams and other e-currencies. Any violation of this provision will result in the immediate closing of a customer's Holding.
(from here) Frank Annoying. They won't develop a market for their DGC themselves and at the same time won't allow e-currency exchange so that their customers can spend their gold. I guess they're not interested in Gold money as a medium of exchange, only as a store of value. Oh well. I won't be making any more transactions until I've checked with them. Don't want my account closed.
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It's a video about gold, but the lesson applies just as well to bitcoin: Gold: Independent Money http://youtu.be/RvL_Dm2d99A3:07-3:20 The ability to issue money is too much power for governments, banks, anybody... The best way to stop the abuse of power is to spread it as thinly and widely as possible
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So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
I want to trade FX with bitcoin. The most annoying thing about most brokerage accts is the slow fund/withdraw process, together with the mass of financial regulations, AML, KYC, etc. I want to be able to send BTC and withdraw them with a click. Like cash.
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I'm ready to place an order! So give us international shipping please! second that
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Very interesting interview with GoldMoney founder James Turk: James Turk: Gold Is Our Defense Against the Fiat Currency Graveyard http://www.chrismartenson.com/blog/james-turk-gold-our-defense-against-fiat-currency-graveyard/60423James explains why he expects:
*The US Government to raise the debt ceiling in August, which will require the Federal Reserve to print more money in order to soak up the new debt, sending gold and silver prices much higher this summer. *Holders of fiat currencies to experience increasing losses in the purchasing power of their wealth; contrary to those who hold precious metals, who will see the reverse. *This pattern of currency devaluation to be similar to the many other examples seen throughout monetary history. In short, the “unthinkable” event of a dollar collapse is a much more probable event than most consider. *Precious metals to be an excellent vehicle for preserving purchasing power through this next transition, and whatever future currency emerges, their historic role as money to be restored. *The end of the bull market in precious metals is years away. We’ll know its ending when holders of PMs begin trading them for other assets (e.g. property, securities) that have become overly undervalued.
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