Check out this article. It talks about Bitcoins and if they are worth buying now. Make your own decisions. Me personally, of course I own Bitcoins, and I happier then a pig in the mud. Don’t think that because 1 Bitcoin costs $600 (example) that you need $600 in order to buy. You can purchase partial Bitcoins. My first purchase was for 1/2 a Bitcoin and I spent $60. Not too long ago neither so the fact that it has gone up so much so fast is very exciting to me. Read the article, take from it what you may.
Thanks to Disaster Response Team of America for the post…Can’t wait until we break that 1,000 mark!
[Ed. Note: Can you think of a better way to hide the gold market than to “promote” an alternative currency? Why would the federal reserve say something positive about any currency other than the USDollar? ~MRH]
by Mark O’Byrne, Gold Core:
Bitcoin was developed in 2009 and is a decentralized digital currency that enables low cost payments without the need for central authorities and issuers. Bitcoin is a peer-to-peer (P2P) currency system created in open source C++ programming code. Bitcoins can be accessed from anywhere in the world with an internet connection. Once a user has Bitcoins, they are stored in a digital wallet. Bitcoins can then be sent to anyone else who has a Bitcoin address.
U.S. law enforcement and regulatory agents expressed optimism and acknowledged risks for digital currencies. U.S. officials outlined the potential benefits and liabilities of bitcoin.
Federal Reserve Chairman Ben Bernanke said…
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Thanks to CoinsFree for the post…Did someone say Free?!?
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Thanks to canada.com for the post…I am looking into buying one of these ATM’s to place in here in NY.
The world’s first bitcoin ATM — located in a coffee shop in downtown Vancouver — traded $100,000 CAD of the cybercurrency in its first week, said the man behind the machine.
The strong start was little surprise to Mitchell Demeter, the co-founder of Bitcoiniacs, who said use of the virtual currency continues to grow unchecked.
“We’ve had lineups all day every day,” said Demeter on Friday.
[ooyala code=”9xMWdqZzrSZKPrX9MOlcVbjeD5JtPu7j” image=”http://ak.c.ooyala.com/9xMWdqZzrSZKPrX9MOlcVbjeD5JtPu7j/DLOokYc8UKM-fB9H4xMDoxOjBzMTt2bJ” title=”Bitcoin ATM: How the digital currency works” ]
Bitcoiniacs, which operates a physical bitcoin exchange store near Granville Island in addition to its ATM, is not releasing numbers on how many unique traders had used the ATM, but Demeter said the appeal of bitcoin has begun to reach far beyond the currency’s niche base of tech-savvy netizens.
“We knew people would be excited and interested,” said Demeter. “I’m a little bit surprised by the amount of new people who are excited…
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Thanks to RUSEtsy for the post…
For those of you not familiar with Bitcoin, it is a digital currency (best explained by wikipedia and at lifehacker.com) that is fast becoming an accepted form of internet payment. It is especially popular with the computer-savvy and those who want to cut-out the middleman. Sound familiar? It should.
Etsy investor and Board Director, Jim Breyer, has invested $9 million in a bitcoin start-up (from Breyer Capital):
Mr. Breyer is an investor in Circle Internet Financial, one of the host of start-ups trying to find a way to make bitcoin a widely adopted currency for retail payments. The company was started by Jeremy Allaire, a serial entrepreneur, and it aims to be a payment processing system for online and physical merchants, similar to the service PayPal offers online. Along with his venture firm, Accel Partners, and another called General Catalyst Partners, Mr. Breyer has invested $9 million in the…
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Thanks to The Independent Market Observer for the post…
“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” — Mark Twain
What is money?
At first blush, the question either sounds pretty obvious or like a Zen koan. I think it’s worth asking, though, for the same reasons it was worth asking “What is a house worth?” in 2007. Although everyone thought they knew all about the real estate market, it turned out we didn’t. In the same vein, I think there’s a real benefit to taking a deeper look at exactly what money is, and has to be, to determine if what we think we know about it (and about current economic conditions) actually makes sense.
Let’s start with a common definition of money, as follows:
A good that acts as a medium of exchange in transactions. Classically, it is said that money serves as a…
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Thanks to thedailyblogreport for the post…Poof!
Read more about:
Banshee bitcoins: $5 million worth of bitcoin vanish in China
Thanks Financial Post | Business for the post…I would work for him
A Canadian mining company agreed to pay a contractor in Bitcoins for exploration work to be carried out at a property that contains tungsten.
Alix Resources Corp. said today in a statement it will pay Ridge Resources Ltd. for the work at its Windy property about 15 kilometers (9 miles) north of Cassiar, British Columbia.
As Ridge completes the work, it will quote payment in Canadian dollars and Vancouver-based Alix will convert the price into the digital currency, Alix Chief Executive Officer Michael England, 50, said in a phone interview.
“We are a mining exploration company so yes, this is a bit different,” he said. “There’s a lot of expectations that Bitcoins are going higher, so why not start accumulating?”
The shares rose 33 percent to 4 Canadian cents in Toronto on trading volume 17 times the three-month average, giving Alix a market value of C$2 million ($1.9…
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Thanks to CBS NY for the post…About time people in NY start accepting bitcoins
[worldnow id=9525404 width=420 height=266 type=video]
NEW YORK (CBSNewYork) — Some Brooklyn businesses are among the few early adopters embracing a virtual currency.
As CBS 2’s Tamara Leitner reported, “Bitcoin,” which has been around since 2009, is growing in popularity. Anyone can buy it using real money at an online store, or an “exchange.” To purchase something with Bitcoins, a shopper simply transfers the value from his or her online Bitcoin wallet to someone else’s.
The five Brooklyn businesses owned by Dan Lee’s family — including the Boerum Hill restaurant Oxford Kitchen — accept Bitcoins and even offer a 10-percent discount for those customers who use them.
“I thought it was kind of a novel idea,” said Lee, the restaurant’s business manager.
Only a small number of businesses accept Bitcoins, but there are also online businesses that take them.
For the first six months, not a single customer paid with Bitcoins…
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