Category Archives: All Things Bitcoin
Simon Palombi is an intern in the Lowy Institute’s International Security Program. He has previously interned with the UN Counter Terrorism Executive Directorate.
The European Central Bank recently published an official study into digital online currencies, the first by a major financial institution.
Alarmingly, the report tends to play down the suitability of these currencies to terrorist groups. In particular, the report passes off legitimate concerns, such as those raised two years ago by the Financial Action Task Force (FATF), as ‘negative press’. Indeed, the report fails to account for the development and increasing market for the digital online currency known as Bitcoin, and not only its potential for use to launder money (raised by FATF) and for gambling but the access it provides to weapons available via online black markets.
May 17th, 2012 by Irdial 1DnwFLXczVZV8kLJbMYoheUrpqHesjxrSi
Should people who want to see the widespread and rapid adoption of Bitcoin seek tight regulation and integration with the State, or should they rely only on their skills as developers, marketers and entrepreneurs to create the rock solid, reliable and trustworthy products that people will use in their millions, like the other well known internet companies that have changed the way we do things?
A Bitcoin innovator has just applied for and received a registry entry from the US Federal Government’s Financial Crimes Enforcement Network:
I have followed bitcoin since the very start, and I think everyone will agree bitcoin has been a fantastic experiment to date. A great technical system, a great community and great leadership have contributed to something very special. ie the de facto currency of the Internet.
Back when bitcoin was around 2 cents, I was the first person to predict that it would go parity with the dollar, and people thought that was crazy. Within a year that milestone was reached and surpassed.
August 25th, 2012 by Irdial 1DnwFLXczVZV8kLJbMYoheUrpqHesjxrSi
As the barriers to competition evaporate, the world is becoming Bitcoin’s oyster.
Guess who it is you’re fighting now? Everybody.
In his old book, The Road Ahead, Bill Gates wrote of “friction-free capitalism,” a type of marketplace that he argued will be ushered in by the spread of a technology like Bitcoin. This is like heralding the Net as a harbinger of instantaneous transaction while dispensing with hard cash and the credit card. Forget the Banks — we already inhabit what has become a remarkably low-friction internet economy. That’s why today’s marketplace feels so competitive. And it’s why some businesses are prospering beyond all expectation while others are wondering who changed the rules of the game.
Virtual currency exchange service BitInstant is all set to roll out first officially certified Bitcoin Paycard, in collaboration with MasterCard, which would be a debit card and accepted globally.
According to payment processor, the proposed card would be loaded up with Bitcoins and then withdraw real world currencies, while will work as a standard debit or credit card and will be accepted anywhere that accepts MasterCard.
The card will be fitted with a QR code on the front and a printed address on the back which would be used to load Bitcoins, with BitInstant charging a 1% fee.