Bitcoin isn’t PRISM-proof

Thanks TiA for the post…



If you’re looking for an untraceable e-commerce platform to avoid NSA snooping, Bitcoin probably isn’t going to suffice.

by Colin Neagle (courtesy Network World)

Network World – In the aftermath of the revelation of PRISM, the NSA spying program that collects user data from nine major U.S. tech companies, many have highlighted alternate options from organizations that are not known to be cooperating with government surveillance efforts.

Among those alternatives, Bitcoin has been pegged as a more private payment option. At, which lists alternatives to all the services that fall under the PRISM umbrella, Bitcoin is the only listed alternative to online payment services, such as PayPal and Google Wallet.

10 scary facts about Bitcoin

Bitcoin ATM is ‘horrible for money laundering’, says co-creator

But users should know that Bitcoin is not as anonymous as it seems, and while there is no evidence that Bitcoin services are collaborating…

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Important Things To Consider Before Buying Bitcoins

Thanks to bladeend93 for the post…


The program has appeared to try to operate that in as it is not a organization that you can go kick the door in, and is a coded computer software program that is running on an open up network (I concern that).

I do consider that there will be some individuals who make massive amounts of money on this because of to issues that are likely on with bank deposits and the looming menace of them getting confiscated in component by financial institutions and governments.

But, for me that type of expense method appears fairly questionable. With the last man into Bitcoins perhaps still left holding the bag if the Bitcoin program must go the other way.

As constantly, investments or taking part in new methods carries dangers, and 1 would be nicely recommended to wander through this globe with eyes extensive open when considering this kind of actions.


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Do you accept Bitcoins? you could be missing out

Steve J Bicknell

Three Bitcoin digital currency coins

Bitcoins (BTC) are a digital currency that can be bought and sold for cash.

Watch this Video which explains how Bitcoins work

Here is a link to a UK Bitcoin Exchange

According to Bitcoin the current market price is $109.74 and currently 50,000 transactions are done per day using bitcoins.

These rules are enforced collectively by the Bitcoin network.

  • Hard limit of about 21 million bitcoins.
  • Bitcoins are divisible to 8 decimal places, yielding a total of approximately 21×1014 currency units.
  • Transactions are cheap and mostly free.

Before you dismiss it as another crazy idea, both the BBC and Institute of Directors have commented on Bitcoins, in this months  (June 2013) Director Magazine, page 17, 60 Second Expert, the IoD gave an excellent summary of key points including this comment on system safety:

US security expert Dan Kaminsky referred to the system as an ‘alien technology’…

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Bitcoin is Here to Stay

Hash Rates

Bitcoin has shot up and crashed at least twice now.

Exchanges where the fast-rising new digital currency trades have been hacked, and so have individual accounts. It’s been linked to illegal activity in underground cyber haunts such as Silk Road, and sparked a move by the U.S. government to halt unregulated use.

And Bitcoin persists.

Heck, CNBC has a Bitcoin ticker on its website.

In its fourth year of circulation now, the decentralized online-only form of money has evolved from a libertarian-styled geek curiosity to a contender for becoming the first digital currency to go truly mainstream. There are now more than 11 million “coins” created worth more than $1 billion. Lumpy and volatile as it is, the math-based cash is one of the fastest rising alternative currencies in a world filled with them.

Tyler Moore, who studies alternative currencies, said he still isn’t sure why.

“It’s one part luck…

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Why Bitcoin (virtual digital peer-to-peer currency) is not a bubble

Technology Blog

A recent crackdown at Liberty Reserve by the NYC Attorney’s Office regarding an over $6 bn money laundering case once again puts the limelight onto  virtual digital peer-to-peer currencies and their legitimacy! Before this, bit coins were in news, with a highly inflated price and then steep reduction in valuation, from $288 to $168 within a week. Due to the high volatility of digital currencies and doubts as to their legitimacy, many pundits predict the current surge in these kinds of currencies is an accident waiting to happen (i.e. a bubble is about to bust)! In addition to this, experts add virtual currencies to a long list of alternative currencies that disappeared quickly over the several thousand years of human history!

On the other hand, these digital currencies, especially bit coins, are attracting big investors like Goldman Sachs, Morgan Stanley, UBS, Citigroup, and BlackRock as an investment option. VCs are also…

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Meet The World’s First Bit Coin Baby

No, this isn’t a black-market deal brokered in the Internet’s shadowy corners. The child was born thanks to a frozen embryo transfer cycle paid for with bitcoins. Lee says it’s the first time he’s aware of that anyone has paid for fertility treatments that way. Click the link below for the full story. Hang on to those bitcoins!