[2014-08-12] Bitcoin Slips As US Consumer Finance Agency Warns Of Cryptocurrency

[cescan]

http://techcrunch.com/2014/08/11/bitcoin-slips-as-us-consumer-finance-agency-warns-of-cryptocurrency-risks/

That same contingent will likely also find it encouraging that the CFPB is paying bitcoin any mind at all. The CFPB has also started to collect complaints from consumers relating to bitcoin, and its alternative coin cousins — the government agency cites XRP and Dogecoin in its release.

What are the risks according to the bureau? The usual list: scammers looking to take advantage of a growing market segment; cost to use; limited consumer protections in place; and, of course, hackers.

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[mercistheman]

That's fine as long as they send out a warnings on credit card and cash risk...
Our family has been hit 3 times in the last year by CC fraund.... look at what is going on in California... we couldn't even use our card there while on vacation due to "large scale fraud in this state" per our card suppliers words.
What happens to your card when the waitress takes it to the back room?
It would be interesting to see actual % of fraud and criminal activity for each type of currency... my guess is BTC is the least.
These lobbyist are having an impact.

[Shermo]

What happens to your card when the waitress takes it to the back room?

Still amazed that the USA doesn't have chip&pin cards like the UK and most of Europe. Reduces fraud a fair bit I would imagine compared with in the USA where they just need to clone your card and use it anywhere.

[marcus_of_augustus]

let's all write email to CFPB complaining about the > $900 trillion derivatives bubble that threatens the global monetary system (whilst conveniently skimming a good chunk of global wealth production to boot)

http://www.globalresearch.ca/the-size-of-the-derivatives-bubble-hanging-over-the-global-economy-hits-a-record-high/5384096

[bitbouillion]

let's all write email to CFPB complaining about the > $900 trillion derivatives bubble that threatens the global monetary system (whilst conveniently skimming a good chunk of global wealth production to boot)

http://www.globalresearch.ca/the-size-of-the-derivatives-bubble-hanging-over-the-global-economy-hits-a-record-high/5384096

Charles Ponzi Warns Of Gold