hi all, have been tracking bitcoin for a few yrs now and its exposure seemed to hit a real critical mass in 2013 possibly mainly related to its value. its exciting! once again: a) gamechanging, b) disruptive technology, c) a paradigm shift!
its fast moving and hard to keep up with. could easily write a whole book on the subj right now but just a big bag of links will have to suffice for the moment.
where is it going? thats the big question.
it seems to be the worlds first “internet currency” that is not affiliated with any nation state, a highly radical and subversive concept/reality.
the originations are shady/extraordinary and worthy of a suspense/mystery/scifi movie. its quite remarkable that its brilliant inventor(s) did not wish to be identified, but also fitting in with its crypto-libertarian and crypto-anarchist origins.[a]
last year there were announcements of new ATMs around the world. [b]
it is not clear yet how it will be regulated or rejected by governments eg US which sets tone for much international money/banking laws/restrictions.[c]
a lot of the news last yr seemed to have to do with china and its attitudes toward it. early announcements that seemed favorable for its acceptance led to huge spikes in value, but later announcements seemed to backtrack causing major loss of value. surely few using it would like to see their fortunes tied to the chinese banking system but that was the apparent strong link near the end of 2013.[d]
will it be freedom-promoting or lead to new types of crimes? or both? it is haunted by the spectre of money laundering and tax evasion.[e]
the whole story is highly reminscent of th egold/liberty dollar that led to an ignominious demise just a few years ago.[f]
a huge element of the story of bitcoin is the silkroad drug website and its shutdown, the current ongoing prosecution of the founder, and how the illicit funds are subsequently seized/handled by the govt, a story still in motion.[g]
there have been major breaches by hackers and thefts for millions of dollars, its an extreme wild west atmosphere right now.[h]
the mainstream media, hysteric and bipolar as usual, is attempting to figure out whether it is a crazy pyramid scheme or an investment vehicle.[i]
the rise of bitcoin has not gone unnoticed and some major corporations and legitimate investors are taking notice eg eBay, WordPress, PayPal, JPMorgan, Overstock.com etc.[j] and of course one of the worlds leading ecurrency innovators and promoters, Apple![k]
but, what about the acceptance? mainstream economists such as Krugman are horrified and Greenspan has called it a “bubble”. its causing an extraordinary split between nonacceptance and acceptance.[l]
a big question is how central banks are reacting to this new upstart. warily! some have issued white papers & yet the Canadian royal mint announced they are working on a digital cash replacement/ostensible competitor![m]
other recent news is the mining operations and how they are becoming quite massive and how this is a drain on energy systems.[n]
there is some emerging scientific study of bitcoin and one suspects this is just the beginning of an explosion of scientific research in the area.[o]
again one asks, where is it going? nobody really knows. it appears to me to have reached the point of no return and an unstoppable force, but also governments are reacting and the future is unpredictable at this point.
what happens when an irresistible force meets an immovable object?
we will find out, we are finding out right now.
in a word, REVOLUTION.
- 1. Virtual Currency Bitcoin: Anonymous Web Shopping – Newsweek
- 2. The Rise and Fall of Bitcoin | Magazine
- 3. For Bitcoin’s Biggest Believers, Digital Currency Is Better Than Gold | Wired Enterprise | Wired.com
- 4. Bitcoin Is Flawed, But It Will Still Take Over the World | Wired Enterprise | Wired.com
- 5. Cypherpunks, Bitcoin & the Myth of Satoshi Nakamoto | Cybersalon
- 6. Bitcoin P2P e-cash paper
- 7. Unenumerated: Bit gold
- 8. Who is Satoshi Nakamoto? Bitcoin’s Mysterious Creator Revealed as Nick Szabo – IBTimes UK
- 9. Bitcoin Survival Guide: Everything You Need to Know About the Future of Money | Wired Enterprise | Wired.com
- 10. The Future of Bitcoin : The New Yorker
- 11. In Bitcoin’s Orbit: Rival Virtual Currencies Vie for Acceptance – NYTimes.com
- 12. Dollar-Less Iranians Discover Virtual Currency – Businessweek
- 13. Why the Only Real Way to Buy Bitcoins Is on the Streets | Wired Enterprise | Wired.com
- 14. Lex Mercatoria: The Emergence Of A Self-Regulated Bitcoin – Forbes
b. atm
- 1. World’s First Bitcoin ATM Is Announced – First Location: Cyprus
- 2. People have bought or sold $100,000 in Bitcoins from a Vancouver ATM, firm says
- 3. Bitcoin ATMs: Handy Vending Machines or Money-Laundering Nightmares? | Wired Enterprise | Wired.com
- 4. World’s First Bitcoin ATM Set to Go Live Tuesday | Wired Enterprise | Wired.com
- 5. Take a Tour of Robocoin, the World’s First Bitcoin ATM | Wired Enterprise | Wired.com
c. feds/regs
- 1. Bitcoin Comes Under Senate Scrutiny – Washington Wire – WSJ
- 2. Feds Reveal What They Really Think About Bitcoin | Wired Enterprise | Wired.com
- 3. U.S. Agencies to Say Bitcoins Offer Legitimate Benefits – Bloomberg
- 4. Bitcoin Tops $600 as Congress Explores Digital Currencies | Wired Enterprise | Wired.com
- 5. As China Looms, the U.S. Ponders Ways Not to Destroy Bitcoin | Wired Enterprise | Wired.com
- 6. U.S. Government Nastygram Shuts Down One-Man Bitcoin Mint | Wired Enterprise | Wired.com
- 7. The Government’s Perilous Bitcoin Chase – The Daily Beast
- 8. Every Important Person In Bitcoin Just Got Subpoenaed By New York’s Financial Regulator – Forbes
- 9. Bitcoin Virtual Cash Gets Money-Laundering Rule – WSJ.com
- 10. A libertarian nightmare: Bitcoin meets Big Government – Salon.com
- 11. Businessman who turns bitcoins into physical money shut down by federal government because it’s too easy to money launder
- 12. The Death of All Banking Freedom? The Future of Freedom Foundation
- 13. Bitcoin Mint Reopens After Nastygram From Feds | Wired Enterprise | Wired.com
- 14. Bitcoin’s Fate Is in the Hands of Clueless Regulators | Wired Enterprise | Wired.com
- 15. Russia bans Bitcoin – Finance – Business – News – iTnews.com.au
d. china
- 1. Chinese Bitcoin Exchange Accused of Faking Trade Data
- 2. China Bans Financial Companies From Bitcoin Transactions – Bloomberg
- 3. This Chinese Exchange Just Pushed the Value of Bitcoins Over $200 | Wired Enterprise | Wired.com
- 4. Bitcoin in freefall: Value of virtual currency dropping after China questions its legal status | Mail Online
- 5. Alibaba Bitcoin – Business Insider
- 6. After Crackdown, a New Bitcoin King Emerges in China | Wired Enterprise | Wired.com
e. crime
- 1. FBI Fears Bitcoin’s Popularity with Criminals | Threat Level | Wired.com
- 2. The Secrets of Online Money Laundering | MIT Technology Review
- 3. Hitman Network Says It Accepts Bitcoins to Murder for Hire – The Daily Beast
- 4. Meet The ‘Assassination Market’ Creator Who’s Crowdfunding Murder With Bitcoins – Forbes
- 5. US police force pay bitcoin ransom in Cryptolocker malware scam | Technology | theguardian.com
- 6. Texas Hacker Debunks Link Between Bitcoin Founder and Online Drug Market | Wired Enterprise | Wired.com
- 7. SEC Says Man Fittingly Named ‘The Pirate’ Ran Bitcoin Ponzi Scheme | Wired Enterprise | Wired.com
- 8. New Malware Steals Your Bitcoin | Threat Level | Wired.com
- 9. Yahoo malware turned up to TWO MILLION European computers into ‘Bitcoin slaves’ | Mail Online
f. egold/liberty dollar
- 1. » Local Liberty Dollar ‘architect’ Bernard von NotHaus convicted Alex Jones’ Infowars: There’s a war on for your mind!
- 2. E-Gold Gets Tough on Crime
- 3. Bullion and Bandits: The Improbable Rise and Fall of E-Gold | Threat Level | Wired.com
- 4. Liberty Reserve Founder Indicted on $6 Billion Money-Laundering Charges | Threat Level | Wired.com
- 5. Liberty Reserve Operators Accused of Money Laundering – NYTimes.com
g. silkroad
- 1. FBI seizes underground drug market Silk Road, owner indicted in New York | The Verge
- 2. FBI unable to seize 600,000 Bitcoins from Silk Road operator | ExtremeTech
- 3. Feds seize $28 million in bitcoins from alleged Silk Road operator – Oct. 25, 2013
- 4. Silk Road ‘pirate’ Ross Ulbricht accuses US government of stealing his $38million Bitcoin booty | News.com.au
- 5. The Magic of Bitcoin Turns FBI’s Seized Booty Into Government Protest | Wired Enterprise | Wired.com
- 6. Underground Website Lets You Buy Any Drug Imaginable | Threat Level | Wired.com
- 7. The Ultimate Bitcoin Question: Can the Feds Spend $3.3M in Seized Digital Currency? | Wired Enterprise | Wired.com
- 8. BBC News – US makes Bitcoin exchange arrests after Silk Road closure
h. breaches/thefts/collapse etc
- 1. Bitcoins worth $87,000 plundered in brazen server breach | Ars Technica
- 2. One poor security choice results in $250,000 Bitcoin heist | Cyber crime – InfoWorld
- 3. Secretive Internet currency’s server hacked; money stolen — RT USA
- 4. $1.2M Hack Shows Why You Should Never Store Bitcoins on the Internet | Wired Enterprise | Wired.com
- 5. Bitcoin thefts soar as online criminals target easy payday after currency’s value quadruples in the space of three weeks | Mail Online
- 6. The Missing Bitcoin Millions – The Daily Beast
- 7. World’s Largest Bitcoin Exchange Out $10 Million | Wired Enterprise | Wired.com
- 8. In the Murky World of Bitcoin, Fraud Is Quicker Than the Law – NYTimes.com
- 9. Watch Bitcoin Robbery in Slow Motion – Forbes
i. rise/fall/crash
- 1. bitcoin-triples-again-smartmoney: Personal Finance News from Yahoo! Finance
- 2. Bitcoin Hits $1 Billion – IEEE Spectrum
- 3. Man buys $27 of bitcoin, forgets about them, finds they’re now worth $886k | Technology | theguardian.com
- 4. The Magic Number: Bitcoin Prices Top $1,000 | Wired Business | Wired.com
- 5. The bitcoin bubble: Why speculative bitcoin buy-ins now point to a disastrous bitcoin crash
- 6. The Bitcoin Richest: Accumulating Large Balances – Forbes
- 7. Bitcoin Santas Drop Big Money on Hackers Who’ve Been Nice | Wired Enterprise | Wired.com
- 8. Should Baby Boomers Invest in Bitcoin? – The Daily Beast
- 9. The Next Big Thing You Missed: There’s a Sure-Fire Way to Control the Price of Bitcoin | Wired Business | Wired.com
- 10. Bitcoin Has Arrived in Vegas, But It’s Still Far From Mainstream | Wired Enterprise | Wired.com
- 11. Bitcoin Baron Keeps a Secretive Open Source OS Alive | Wired Enterprise | Wired.com
j. biz/corps/deals
- 1. Winklevoss Twins File for $20M Bitcoin Public Offering | Wired Enterprise | Wired.com
- 2. How eBay Could Rescue Bitcoin From the Feds | Wired Enterprise | Wired.com
- 3. What’s Your Bitcoin Strategy? WordPress Now Accepts Bitcoin Across The Planet – Forbes
- 4. Will Bitcoin Be Accepted by PayPal? – Digits – WSJ
- 5. $148 Million Bitcoin Deal – Business Insider
- 6. JPMorgan files patent application on ‘Bitcoin killer’ | Fox News
- 7. With $25 Million Bet, Silicon Valley Officially Claims Bitcoin as Its Own | Wired Enterprise | Wired.com
- 8. Forget ‘Information Wants to Be Free’ — So Does Money | Wired Business | Wired.com
- 9. Ex-Googler Gives the World a Better Bitcoin | Wired Enterprise | Wired.com
- 10. The Grand Experiment Goes Live: Overstock.com Is Now Accepting Bitcoins | Wired Business | Wired.com
k. apple
- 1. Out in the Open: Cyberpunk Builds Bitcoin Wallet That Even Apple Can’t Ban | Wired Enterprise | Wired.com
- 2. Why Apple Is Afraid Of Bitcoin – Forbes
- 3. Apple Yanks World’s Most Popular Bitcoin Wallet From App Store | Wired Enterprise | Wired.com
l. (non)acceptance
- 1. Ron Paul: Bitcoin could ‘destroy the dollar’ – Dec. 4, 2013
- 2. Greenspan Says Bitcoin a Bubble Without Intrinsic Currency Value – Bloomberg
- 3. Why I want Bitcoin to die in a fire – Charlie’s Diary
- 4. Bits and Barbarism – NYTimes.com
- 5. The Antisocial Network of Bitcoins – NYTimes.com
- 6. Once You Use Bitcoin You Can’t Go ‘Back’ — And That’s Its Fatal Flaw | Wired Opinion | Wired.com
- 7. How Bitcoin Can Go Mainstream, in One Easy Step — Daily Intelligencer
- 8. Bitcoin offers privacy — as long as you don’t cash out or spend it | ITworld
- 9. Bitcoin’s Comeback: Should Western Union Be Afraid? | Threat Level | Wired.com
- 10. Bitcoin Prevents Monetary Tyranny – Forbes
- 11. WikiLeaks Bypasses Financial Blockade With Bitcoin – Forbes
- 12. Wikipedia Accepts ‘Enemies Of The Internet’ Currencies – Forbes
- 13. Virtual Currencies and Roach Motels – Forbes
- 14. Overstock CEO Slams “Unethical” Krugman; Hopes “Bitcoin Destroys Central Banking” | Zero Hedge
m. central banks
- 1. Reserve Bank of India cautions users on risks associated with virtual currencies like BitcoinTechie News
- 2. Bitcoin Exchanges Shut Down in India After Government Warning | Wired Business | Wired.com
- 3. virtual currency schemes OctOBer 2012, European Central Bank
- 4. Friday Humor: The ECB Explains What A Ponzi Scheme Is; Awkward Silence Follows | Zero Hedge
- 5. Digital cash replacement from Royal Canadian Mint in the works | Toronto Star
- 6. VIRTUAL CURRENCY SCHEMES, OCTOBER 2012 – virtualcurrencyschemes201210en.pdf
- 7. ECB: “Roots Of Bitcoin Can Be Found In The Austrian School Of Economics” – Forbes
n. mining/scalability
- 1. How the Bitcoin protocol actually works | DDI
- 2. Into the Bitcoin Mines – NYTimes.com
- 3. Bitcoin: Bitcoin under pressure | The Economist
- 4. The secret Hong Kong facility that uses boiling goo to mine Bitcoins | The Verge
- 5. installation – Why is downloading blocks taking longer and longer? – Bitcoin Stack Exchange
- 6. blockchain – What will happen when bitcoin’s popularity multiplies and the number of transactions explodes? – Bitcoin Stack Exchange
- 7. Bitcoin Miners Building 10 Megawatt Data Center in Sweden
o. papers/study
- 1. Regulating Digital Currencies: Bringing Bitcoin within the Reach of the IMF by Nicholas Plassaras :: SSRN
- 2. Nerdy Money: Bitcoin, the Private Digital Currency, and the Case Against Its Regulation by Nikolei M. Kaplanov :: SSRN
- 3. Bitcoin: An Innovative Alternative Digital Currency by Reuben Grinberg :: SSRN
- 4. Nerdy Money: Bitcoin, the Private Digital Currency, and the Case Against Its Regulation by Nikolei M. Kaplanov :: SSRN
- 5. Synthetic Commodity Money by George Selgin :: SSRN
- 6. Bitcoin: Tempering the Digital Ring of Gyges or Implausible Pecuniary Privacy by Matthew Elias :: SSRN
- 7. Can We Afford Integrity by Proof-of-Work? Scenarios Inspired by the Bitcoin Currency by Jörg Becker, Dominic Breuker, Tobias Heide, Justus Holler, Hans Peter Rauer, Rainer Böhme :: SSRN