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The Bitcoin economy

News That Will Strengthen Bitcoin (6nd Part)

It is because of news like these that Bitcoin continues to grow strong: →Trial begins for billionaire responsible credit card fraud Five men from Russia and Ukraine have been accused of causing losses of more than U.S. $ 300 million to various payment processors, in the biggest cyber crime case in the history of the United States. […]

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productive population

Bitcoin: To The Rescue Of Productive Population

What would happen if a critical mass of the population of any country decided to use bitcoins as a medium of exchange? After the mathematically unavoidable financial collapse of the “welfare state”, members of the productive classes will not sit around idly they will continue to produce. But for that they will need a monetary […]

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spiral stairs

The Myth Of The Deflationary Spiral

“Legal tender money” is simply a euphemism for the money the state forces its citizens to use. The permanent state of inflation to which we have been habituated (courtesy of the government) is nothing but an unnecessary evil, and as such cannot be sustained without resorting to violence; this i.e. nobody would welcome money that […]

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News That Will Strengthen Bitcoin (5nd Part)

It is because of news like these that Bitcoin continues to strengthen: →U.S. will conduct the monitoring of overy financial transaction The Consumer Financial Protection Bureau (CFPB) of the United States is looking to create a “Google Earth” of every financial transaction of every American including cash withdrawals from ATMs. →Financial institutions not reporting on their American clients […]

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fiat money

Bitcoin: A Fiat Currency?

fi·at n. 1. An arbitrary order or decree. 2. Authorization or sanction: government fiat. [Medieval Latin, from Latin, let it be done, third person sing. present subjunctive of fier, to become, to be done; see bheu- in Indo-European roots.] Robert Murphy, Austrian school economist who became better known in wider circles after challenging Paul Krugman […]

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WebMoney Starts Processing Bitcoin

Via The Genesis Block: WebMoney, considered the PayPal of Russia, announced the addition bitcoin as a payment option today. This will enable both merchant as well as person-to-person transfers. WebMoney had over 11 million users in 2010, and this number has no doubt grown significantly since then. WebMoney accounts are called purses, and transactions can be denominated in bitcoin, gold, USD and rubles among […]

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Bad News That Will Strengthen Bitcoin

It is because of news like these that Bitcoin will continue to generate more interest than ever before: → PayPal Bans BitTorrent VPN/Proxy Service After blocking the financing of various file hosting sites and Usenet providers, PayPal service takes a swing at  VPN/Proxy because of its  ties with BitTorrent. → Central banks step up their […]

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Why is Bitcoin Superior To Other Currencies?

The quick answer: Because no one – no committee of “experts” – controls its destiny, and because the rules set by the protocol devised by Satoshi Nakamoto are not imposed; each user chooses to accept them. But what does this mean, in practice, for the user? Let’s review the advantages of Bitcoin … Increased privacy […]

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