bitcoins

The Biterati will gather this week in—where else?—Las Vegas to celebrate, well, something, and to pick the startups that will staunch the bleeding and destroy the fiat currency that they undoubtedly paid for everything with. Read more »

People worldwide have opened 41 million bitcoin accounts, according to the Bank of England. While the total value of bitcoin commerce isn’t known, Gil Luria, an analyst at Wedbush Securities Inc., estimates global spending on goods and services has doubled in the past year. Parents are dispensing allowances in bitcoins so their kids learn to be digital citizens. Marijuana smokers are buying buds from bitcoin-enabled vending machines. Consumers in emerging markets such as Brazil and Russia are starting to use bitcoin to hedge against currency volatility. [Bloomberg]

Coinbase will now provide instawallets in Europe, giving continental anarchists, Grecophobes and tin-foil-hat-wearers a potentially secure place to “hold” their fake money. Read more »

  • 28 Aug 2014 at 3:56 PM

Poor People Like Bitcoins More Than Less Poor People

Maybe it’s because the dollar economy has been so good to the 1%-ers. Maybe it’s because they’re spending too much time on waterskies in St. Barths to worry about such things as the gold standard, the world government under Denver International Airport or cryptocurrencies. Whatever it is, not too many people pulling in $100,000-plus are getting into the bitcoin game. Read more »

Gold bugs and bitcoin enthusiasts tend to be a lot alike, what with their affinity for conspiracy theories and wariness of governments and their fiat currencies that would totally collapse if people just really thought about it. So I guess it should be no surprise that the first company anywhere to say “thanks but no thanks” to dollars would be a precious metals dealer. You see, CEO Stephen Macaskill is a self-professed “big advocate of sound money” who has still not gotten over that time the U.S. dropped the gold standard several decades before he was born. And what’s sounder than a highly-volatile imaginary “currency” susceptible to near-collapse when role-playing enthusiasts lose a bunch of them? Plus, you know, the U.S. is looking a lot like Zimbabwe to Steve, so he’s just going to turn away greenbacks as of Jan. 1, 2017, to avoid the embarrassment of having any on hand when they become just worthless paper and those benighted souls without an e-wallet are massed in breadlines and selling their bodies to the biterati for a Snickers bar. Read more »

The Bitcoin movement has a Tea Party, the cryptoanarchists, and some of them—including at least one accused felon—have made a slick new video declaring the virtual currency’s independence from, well, something high-minded, we’re sure. Read more »

  • 12 Aug 2014 at 2:22 PM

The Bitcoin Bugle: Still Relevant!

Months after everyone else got into a lather about it, word of this strange “cryptocurrency” called “bitcoin” has reached the desks of the folks over at the Consumer Financial Protection Bureau. And now that no one cares about them anymore, the regulator is leaping onto the case. Read more »