[ANN] Orbitcoin v1.6.3.0 ~ NeoScrypt ~ Green Stake ~ 11 Years Old

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The Huffington Post
The First and Last Word in Money: How Bitcoin is more like Ancient Sumer than the Federal Reserve
09/13/2016 02:06 pm ET
The newest forms of money - bleeding edge, blockchain-based cryptocurrencies - look a lot more like the oldest forms than anything that appeared in the meantime.

The origins of money

Whilst money has taken diverse forms over the millennia, humans have always gravitated towards gold and silver. Attractive, scarce, malleable and resistant to corrosion, they have been a default at least since Sumerian times. David Graeber, author of Debt: The first five thousand years, notes that some of the earliest written texts establish a fixed exchange rate between silver and barley: effectively a silver standard. Money may even have arisen in the huge and elaborate temple complexes of the Ancient Near East as an accounting tool to facilitate payments for labor and much else besides - rather than being a development used to address the shortcomings of a barter economy, as a competing theory holds.

The Rise of Free Money

Seigniorage and the inflation that frequently accompanied it had the effect of transferring value from the end users of money, ordinary people, to those who created it, the state. Far from being a simple, decentralized technology - it may seem strange to call the use of pieces of precious metal as a medium of exchange for goods and services ‘technology’, but the impact cannot be overestimated; this truly was fintech, 5th millennium BC-style - it became a means to wield power.
http://www.huffingtonpost.com/john-rampton/the-first-and-last-word-i_b_11991946.html

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SEC Delays Decision on SolidX Bitcoin ETF

September 13, 2016 - Capital Markets / ETF / Exchanges / News
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SEC Delays Decision on SolidX Bitcoin ETF

The deputy secretary of the SEC has pushed back the date to approve SolidX’s request to list a bitcoin ETF on the New York Stock Exchange.

Typically, the SEC has 45 days from the time an application is filed in the federal register to approve a measure, but as we learned last month from a similar application[1], that timeline can be extended significantly.

In line with this, SEC deputy secretary Robert W Errett pushed back the deadline to approve the SolidX bitcoin ETF from 16th September in a notice[2] published to the federal register last week.

Errett wrote:

“The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change.”

The rule change that could result in the first bitcoin ETF on a major stock exchange was published[3] for comment to the federal register on 2nd August, and the Commission received no responses.

The race to the finish

The situation closely mirrors what happened in August when the SEC made a similar decision[4] regarding the application submitted by Tyler and Cameron Winklevoss to list the Winklevoss Bitcoin Trust on the Bats exchange.
http://need-bitcoin.com/sec-delays-decision-on-solidx-bitcoin-etf/

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