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Author Topic: Bitcoin press hits, notable sources  (Read 402004 times)
herzmeister
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February 20, 2012, 05:57:22 PM
 #1901

lol  Cheesy

.
.
.

oops... sry  Lips sealed

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February 20, 2012, 06:15:15 PM
 #1902

Bank technology News

Bitcoin Exchange's Crisis Bodes Ill for Payment Innovation

http://www.americanbanker.com/issues/177_34/bitcoin-tradehill-exchange-digital-currency-risks-licensing-1046795-1.html?pg=1

Quite well written article.
Indeed. This quote is interesting:

"To get around stringent state regulations, Bitcoin firms might switch from acting as a floating exchange, which TradeHill was, to a fixed rate exchange, Matonis says.

Floating exchanges hold customer funds while they match buy and sell orders. In this sense, they act as financial institutions. Fixed rate exchanges do not. They simply buy and sell Bitcoins like a commodity. Such an exchange would be exempt from state money transmitter regulations, Matonis says."
Interesting indeed.  It wouldn't even necessarily have to be a fixed rate either... just so long as the entity isn't holding on to customer funds.  Just base the price on some funky supply/demand curve, where the price will move X amount up for each Bitcoin bought, and X amount down for each Bitcoin sold.  The market will naturally keep it mostly balanced, albeit likely biased one direction or the other compared to a floating exchange.
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February 20, 2012, 06:25:23 PM
 #1903

Bank technology News

Bitcoin Exchange's Crisis Bodes Ill for Payment Innovation

http://www.americanbanker.com/issues/177_34/bitcoin-tradehill-exchange-digital-currency-risks-licensing-1046795-1.html?pg=1

Quite well written article.
Indeed. This quote is interesting:

"To get around stringent state regulations, Bitcoin firms might switch from acting as a floating exchange, which TradeHill was, to a fixed rate exchange, Matonis says.

Floating exchanges hold customer funds while they match buy and sell orders. In this sense, they act as financial institutions. Fixed rate exchanges do not. They simply buy and sell Bitcoins like a commodity. Such an exchange would be exempt from state money transmitter regulations, Matonis says."
Interesting indeed.  It wouldn't even necessarily have to be a fixed rate either... just so long as the entity isn't holding on to customer funds.  Just base the price on some funky supply/demand curve, where the price will move X amount up for each Bitcoin bought, and X amount down for each Bitcoin sold.  The market will naturally keep it mostly balanced, albeit likely biased one direction or the other compared to a floating exchange.

If you are going to have a fixed rate that changes, why not just make it change to what it will cost you to replace the coins/dollars plus a fee? As long as there is one actual market even if it has onerous AML crap anyone who can trade there can run their own "not really an exchange" site.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
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February 20, 2012, 06:32:29 PM
 #1904

Bank technology News

Bitcoin Exchange's Crisis Bodes Ill for Payment Innovation

http://www.americanbanker.com/issues/177_34/bitcoin-tradehill-exchange-digital-currency-risks-licensing-1046795-1.html?pg=1

Quite well written article.
Indeed. This quote is interesting:

"To get around stringent state regulations, Bitcoin firms might switch from acting as a floating exchange, which TradeHill was, to a fixed rate exchange, Matonis says.

Floating exchanges hold customer funds while they match buy and sell orders. In this sense, they act as financial institutions. Fixed rate exchanges do not. They simply buy and sell Bitcoins like a commodity. Such an exchange would be exempt from state money transmitter regulations, Matonis says."
Interesting indeed.  It wouldn't even necessarily have to be a fixed rate either... just so long as the entity isn't holding on to customer funds.  Just base the price on some funky supply/demand curve, where the price will move X amount up for each Bitcoin bought, and X amount down for each Bitcoin sold.  The market will naturally keep it mostly balanced, albeit likely biased one direction or the other compared to a floating exchange.

If you are going to have a fixed rate that changes, why not just make it change to what it will cost you to replace the coins/dollars plus a fee? As long as there is one actual market even if it has onerous AML crap anyone who can trade there can run their own "not really an exchange" site.
Yeah, I was thinking along the lines of if all floating exchanges were banned.  But that doesn't really make sense looking at my last statement, "compared to a floating exchange."
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February 21, 2012, 11:10:39 AM
 #1905

http://www.finextra.com/news/fullstory.aspx?newsitemid=23440

"Finextra verdict: Taken at face value, Paxum's decision to cut ties with Bitcoin is worrying. From the blockade of WikiLeaks to the attempts by US politicians to debarr Iran from the Swift network, it now seems acceptable for politicians and payment scheme incumbents to use their muscle to switch off infrastructural support for potential trouble-makers. At what point does a legitimate business decision become an abuse of power? We're treading a fine line here people"

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February 21, 2012, 06:07:20 PM
 #1906

gibt's einen thread wo wir das passend dikutieren könnten? Ist vielleicht nicht viel dazu zu sagen, aber vielleicht doch... die Sache mit dem "Regression Theorem" ist mir jedenfalls nicht ganz klar.

Vielleicht könntest du nen thread machen für dieses video und dann diskutieren wir das? Was meinst du?


lol. I'm sorry guys. I screwed up. This was meant to be sent a a PM to lonelyminer but I accidentally posted here.

I tried to no spam this thread... and what did I do?

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julz
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February 22, 2012, 01:11:18 AM
 #1907

Quote
Bitcoin will revolutionize how Africans transact

2012-02-21
Rudiger Koch

http://mobilemoneyafrica.com/bitcoin-will-revolutionize-how-africans-transact-rudiger-koch/


Rudiger Koch, IT Consultant,Intersango Ltd, London.
He will be speaking on Bitcoin at the MobileMoney WestAfrica summit on March 5th & 6th in Lagos.

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February 23, 2012, 12:50:08 PM
 #1908

http://www.metamute.org/editorial/articles/bitcoin-%E2%80%93-finally-fair-money

Eternity Wall: Messages lasting forever - The Rock Trading (ref): A good exchange / gateway Ripple, with support for multisig, since 2007. 
https://bitcointa.lk: Bitcointalk backup if offline - Bitcoin Foundation Italia - Blog: http://theupwind.blogspot.it
molecular
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February 25, 2012, 09:52:34 PM
 #1909

http://www.youtube.com/watch?feature=player_embedded&v=ClNCOSS4nGs#t=766s

Max Keiser talks to David Hales about ending top down Central Bank imposed financial and economic systems with peer to peer economics

Quote from: Max Keiser
Allright, David Hales, peer to peer currencies, p2p currencies, like ripple, what are they? Are they similar to bitcoin? How do they operate? How could they alter the financial ecosystem as we see around us?

Quote from: David Hales
Ok, well, many people are familiar with bitcoin, you mentioned it on your show previously. Bitcoin is a system which maintains a kind of centralized trust trhough a distributed algorithm in order to limit the amount of currency - bitcoins - that can be in circulation at any one time.
So, what's special and neat about bitcoin is the distributed algorithm, which is very difficult to hack, which means that it's very difficult to forge bitcoins. In fact you need to take over the majority of the bitcoin network to do this.
However, this is a particular function, so bitcoin's useful for a payment or transfer of value function, but other kinds of p2p systems are looking at different kinds of functions that are currently supplied by, say, banks for example...

EDIT: rough summary: due to the loss of trust in traditional banking system and central banks, there will be a new currency/banking competition flourishing.

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Vernon715
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February 26, 2012, 09:36:42 PM
 #1910


Epic. Nuff said.

Please donate: 1FfJzfpGCXD6saKqmMs8W1qt9wouhA98Mj

http://bitcoinpyramid.com/r/1642

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February 27, 2012, 03:17:43 AM
 #1911

This can become huge. http://www.thebitcointrader.com/2012/02/bitcoin-quickly-becoming-western-union.html The virtual goods market can be worth $16 billion in 2012 http://www.thebitcointrader.com/2011/10/ogrrcom-launches-massive-bitcoin.html

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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February 29, 2012, 12:33:10 AM
 #1912

Google's Eric Schmidt just mentioned Bitcoin in his keynote! (via reddit)

Quote
7:36 pm Q: If it comes to real democracy, payment has to be peer-to-peer. Would you like to know about my technology called FairCash?
7:37 pm A (Schmidt): Are you familiar with BitCoin? There are some issues with peer-to-peer money. In most cases it's illegal, besides that it's a great idea. We had our own proposal called Google Bucks, but we didn't want to get into these issues. Most of these systems will have regulatory issues.

Please do not pm me, use ron@bitcoin.org.il instead
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MoonShadow
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February 29, 2012, 12:59:27 AM
 #1913

Google's Eric Schmidt just mentioned Bitcoin in his keynote! (via reddit)

Quote
7:36 pm Q: If it comes to real democracy, payment has to be peer-to-peer. Would you like to know about my technology called FairCash?
7:37 pm A (Schmidt): Are you familiar with BitCoin? There are some issues with peer-to-peer money. In most cases it's illegal, besides that it's a great idea. We had our own proposal called Google Bucks, but we didn't want to get into these issues. Most of these systems will have regulatory issues.

Proof that Google had considered creating it's own digital currency, but backed away from it for fear of opening up another battle front with governments.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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February 29, 2012, 02:00:26 AM
 #1914

Google's Eric Schmidt just mentioned Bitcoin in his keynote! (via reddit)

Quote
7:36 pm Q: If it comes to real democracy, payment has to be peer-to-peer. Would you like to know about my technology called FairCash?
7:37 pm A (Schmidt): Are you familiar with BitCoin? There are some issues with peer-to-peer money. In most cases it's illegal, besides that it's a great idea. We had our own proposal called Google Bucks, but we didn't want to get into these issues. Most of these systems will have regulatory issues.

Proof that Google had considered creating it's own digital currency, but backed away from it for fear of opening up another battle front with governments.

look at what else he says:

9:38 am Q: You're talking about the internet almost like a human right?
9:39 am A: If the current governance is working pretty well, then I wouldn't move it. There's a lot of concern that moving governance would further balkanize the internet, and that would be a disaster. The core thing that the internet has done is flatten access.
9:40 am A: The internet is one of the greatest achievements of mankind. DO NOT GIVE THAT UP EASILY. I cannot be more emphatic. Be very careful about moves that seem logical but balkanize the internet.

some will say the only way to shut down Bitcoin is to shut down the Internet.  Google won't let that happen.
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February 29, 2012, 03:41:43 AM
 #1915

I just read the article...wow..

Schmidt also revealed that Google wanted to create a rival to Internet peer to peer currency Bitcoin. The company planned to call it "Google Bucks." Though Schmidt said peer to peer currencies like Bitcoin are "a great idea," Google Bucks never got off the ground because these currencies are illegal in many countries.

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March 01, 2012, 03:08:12 AM
 #1916

FT : Sean Park, co-founder of investment firm Anthemis, predicts a future of "billions of currencies" - including Bitcoin.
http://ftalphaville.ft.com/blog/2012/02/29/895801/space-opera-beyond-finance-edition/
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March 01, 2012, 03:19:47 AM
 #1917

The March 2012 issue of The New Yorker has a piece with a single mention of bitcoin

Quote
Net Gain
How “The Good Wife” became the first great series about technology.

2012-03-05  (published 2012-03-01?)


http://www.newyorker.com/arts/critics/television/2012/03/05/120305crte_television_nussbaum?currentPage=1

This season alone, Lockhart Gardner took a case involving the online currency bitcoin; used Twitter to upend British libel laws; handled a military case involving drone warfare; litigated crimes featuring violent video games and a “date rape” app; and dealt with various leaked-image disaster

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March 02, 2012, 04:06:24 AM
 #1918

Another slashdotting for the wrong reasons...  and that title was clearly written before the much larger loss from Bitcoinica was reported.

Quote
Linode Exploit Caused Theft of Thousands of Bitcoins

2012-03-01

http://slashdot.org/story/12/03/02/0059202/linode-exploit-caused-theft-of-thousands-of-bitcoins

"Popular web hosting service Linode had a serious exploit earlier today. Apparently the super admin password for their server management panel was leaked and allowed a malicious attacker to target multiple Bitcoin-related servers. The biggest loss happened to a major Bitcoin mining pool that lost over 3000 BTC, which is currently worth almost 15 000 USD. Now the question is, will Linode compensate for lost bitcoins?"

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March 02, 2012, 06:21:34 AM
 #1919

http://arstechnica.com/business/news/2012/03/bitcoins-worth-228000-stolen-from-customers-of-hacked-webhost.ars

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March 02, 2012, 12:50:31 PM
 #1920

When the first issue of Bitcoin Magazine gets published, is this thread going to start filling up quickly with every article we have?  Cheesy

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