Germany Recognizes Bitcoin as Legal Tender !!

Bitcoin Bites: Germany recognizes digital currency as 'private money'



 Bitcoin is slowly joining the big league of currencies. Germany has become the first country to accept the digital money as legal tender - recognized in law and for tax purposes. Katie Pilbeam from RT's Venture Capital program explains

BITCOIN vs GOLD: Getting the Most BANG For Your Buck

Here's what's in your Prime Interest today:
There's a new Bitcoin sherriff in town. It's called the Digital Asset Transfer Authority -- or DATA. And it's not just limited to Bitcoins, it will self-govern most of the actors in the digital currency space, including Ripple. Again, this is on a purely voluntary basis. With regulators increasingly cracking down on various crypto-currencies, DATA is attempting to get ahead of the game -- and craft best practices to interact with regulators. Bob talks with Trace Mayer, entrepreneur, and Andreas Antonopoulos, internet security expert, and asks if the new regulatory authority, DATA, goes against the original purpose of Bitcoins -- namely anonymity. Then we head to the hills of Virginia's gold belt to see what takes longer: mining bitcoin or mining gold. Finally Bob duels Mark Levine on the Snowden affair.




Plus, hedge funds are coming to a 401-K near you. The so-called "alternative investment" space has been morphed into something that "unsophisticated investors" can purchase. Mutual funds -- once the domain of the retail investor -- are increasingly being used to mimic hedge funds -- along with their high fees. And if the SEC ever gets around to implementing the JOBS Act legislation passed over a year ago, hedge funds themselves will be able to advertise their investment wares to the public. All we can say is caveat emptor.

And, we like to point out unintended consequences here. There's a glaring example in the planned economy of China. Except they didn't plan for a shadow banking network to destabilize their financial market. When reality stared them in the face, the Chinese authorities clamped down and ended up freezing short term lending markets. Turns out this led to a tremendous selloff in their burgeoning $4 trillion bond market. Sounds like 2008 redux to us.

Finally, it was a great day for high frequency traders. At least the ones who bought privileged access to key economic data released earlier this morning. The University of Michigan's Consumer Sentiment Survey fell by 5.1 points -- meaning consumers -- you and me -- don't have as much confidence in the economy. Fortunately, the HFT firms made a killing in the fifty milliseconds or so that they were able to front-run the markets.

Bitcoin Boom? Us fears Digital currency may hit Dollar demand

The US is becoming increasingly concerned over virtual currencies, launching broad investigations into Bitcoin and the likes. The online currency has won official recognition with a US federal judge ruling it is real money. A Texas man, being tried for laundering billions of dollars using the Bitcoin system, challenged the court by saying bitcoins were virtual and couldn't be the basis for a fraud charge. He failed. RT's Peter Oliver went to meet those who have no doubt bitcoin has real value.

Everything You Need To Know About Bitcoin

Much has been written over the past year about the new digital currency Bitcoin -- especially after its price skyrocketed 15x in just a few months, followed by a blow-off correction of over 50%.

But what exactly is it? How does it work? How secure is it? What are its advantages (and disadvantages) to sovereign fiat currencies? To precious metals?

In this week's podcast, Chris talks with Gavin Andresen, chief scientist of the Bitcoin Foundation and lead developer for its digital currency project.

John Stossel Currency Devaluation and the Bitcoin

Economists Ben Powell (Texas Tech) and Jeffrey Tucker (Laissez-faire Books) discuss the clever methods politicians have used to devalue money instead of making citizens pay more tax up front.




Gold is not an investment, it's money. it's honest money and a long term store of wealth independent of any particular government. Gold and silver have been money for 6,000 years and they will still be money after the US dollar is but a memory.

Bitcoin Ends The Banks Monopoly ?

Why do privately owned central banks have the right to create money out of thin air and loan it to the government of the people? Surely the government should print its own currency interest free and make interest on loaning that money to the private banks? banks are gansters and gansters are banks




Digital currency Bitcoin is gaining popularity around the globe as people become more and more dissatisfied with the conventional banking system. Instant, safe and nearly anonymous, is what Bitcoin claims to be. It takes no commission for transactions and can be used internationally wherever you have internet access. Is it the currency of the future? We talk to Bitcoin developer from UK Amir Taaki.

Beer for Bitcoin: Bitcoin pubs spring up across the UK

Pubs in the UK are gradually starting to accept bitcoin as a form of payment, the futures bright unless central banks and regulators decide it's too much of a threat to their corrupt model.

States Sound Warnings on Bitcoin

State regulators have issued warnings to a handful of bitcoin-related companies, alerting them that they may be running afoul of money-transmission laws. Andrew R. Johnson joins the News Hub.

Hack the Bank: Bitcoin and the New Peer-to-Peer Economy

Bitcoin and the New Peer-to-Peer Economy: Charlie Shrem, CEO of Bitinstant, argues that digital currencies like bitcoin are disrupting the way we do business and creating a new peer-to-peer economy.

BitCoin have been calculated to be completely in around 25-30 years. By then, digital p2p currencies will be the norm and people will spend their coins. Acceptance of BTC and p2p currencies is rapidly accelerating. Once again, there are derivatives to BTC which are traded on the markets. LiteCoin, TerraCoin, OpenCoin, etc. Check out 'Ripple' which will allow exchange for anything and completely bypass exchanges. p2p crypto currencies are here to stay and it's a very very good thing.

The Bitcoin Bomb May Blow Up Banks - Global Economic Crisis

Bitcoin Bomb May Blow Up Banks - Global Economic Crisis
Imagine having money that's free from government control, safe from haircuts and decentralized. There is such a thing - and it's called 'bitcoin'. The cyber-currency's value has increased ten-fold this year - surging past $200 a unit this week. Its use is seen as a sign of growing skepticism about the exisiting global financial system. Bitcoin is a database called the "Blockchain" that is shared among users via P2P in place a central authority like a bank. When making a purchase you receive a payment address an amount. Put that information into your wallet and click "send." A miner then records the transaction and adds it to the Blockchain database so everyone can see the transaction.

Bitcoin Crackdown? US laws choke Digital Cashflow Anonymity

US federal prosecutors have shut down digital payment system Liberal Reserve - sparking fears the growing cyber-currency known as Bitcoin could be next. RT's Katie Pilbeam looks at the implications.

Bitcoin vs Fiat: The Future

Félix Moreno interviews Tuur Demeester, editor of the Macrotrends (macrotrends.be/) and author of the paper The Gloom of Central Banking.

Tuur expresses his fears about an increase in bail-ins within the banking sector, which would put depositors' funds at risk. All investors should be aware of this risk -- though for obvious reasons, governments are loath to be too upfront about this risk.

Felix and Tuur then discuss the bad health of global currencies and possible effects of the recent rise in Japanese bond yields. Tuur argues that this may herald the beginnings of competitive currency devaluations.

Alternatives to the fiat system and how people may protect themselves from counterparty risk are discussed. The advent of crypto currencies and the widely debated pros and cons of Bitcoin are addressed amid a broader discussion about the future nature of money.

This podcast was recorded on the 30 May 2013.

America Cracks Down on BITCOIN Exchange - Is this the END of BITCOIN ?

America Cracks Down on BITCOIN (Digital Currency) Exchange - Is this the END of BITCOIN ?
The US Department of Homeland Security seized a payment processing account belonging to Mt. Gox, the largest international Bitcoin trader, claiming the monetary exchange service falsified financial documents. RT's Bob English explains what's behind this crack down.

The big banks (those too big to fail and too big to jail) can get away with corruption, but they want to shut down bitcoin industry because they cannot control the bitcoin industry. So once against the government is putting the wants and needs of the big banks first.

Why Bitcoin will be the next big thing: Interview with Jeff Berwick

The Dollar Vigilante's Jeff Berwick (http://www.dollarvigilante.com) on why bitcoin will continue to gain in popularity worldwide. In this interview with Cambridge House Live anchor Bridgitte Anderson he also discusses his massive real estate development just outside Santiago, Chile. Taped in Vancouver at the World Resource Investment Conference.

The Money Changers Crack down on Bitcoin from Fear of losing their Monopoly

US cracks down on Bitcoin exchange


The entire idea behind Bitcoin is to provide an inflation-resistant currency option. "Currency" is anything used to trade goods and services. These trading venues are more stable than our current money system we are forced to participate in. Its a loophole in the inflation scam. The US Govt. is worried about not being able to collect bribes from Bitcoin exchanges, like they collect from the rest of the banks, so the exchanges were shut down to show them who's really in charge... and the people really in charge are the big banks who bribe the politicians.Drug money laundering and avoidance of Taxation are their main concerns... since the GOV mob has control of both still.

Max Keiser - Bitcoin, Bernanke & Buffett | London Real

Max Keiser of Russia Today drops by to explain the genesis and implications of the digital currency Bitcoin, why The Federal Reserve and the banking system should apologise to the people for manipulating interest rates, how Warren Buffett is complicit in the Mexican drug trade by purchasing Wells Fargo, and Max's crazy times in the 1980s as a New York City stockbroker by day and punk-rock party animal by night.

Bitcoin bomb may blow up Banks bondage, hence US attacks

Bitcoin bomb may blow up banks' bondage, hence US attacks'


I was wondering when the fed was going to shut it down. Yeah it's kind of hard to defend against money laundering when the whole point of your currency alternative is anonymity and ease of exchange. It was only a matter of time. Even gold dealers can't exchange large sums of cash without reporting it to the IRS.


The government has a monopoly on currency...one of the worst kind of monopolies any one can have, they have this monopoly because they use coercion and force to keep it. In which case the US government also has yet another monopoly that is detrimental to citizens of any society, a monopoly on force and use of "legitimatized" violence...the US govt is one of the most corrupt monopolistic corporations in the world! They are now flexing their power to keep their monopoly which is threatened by free market forces trying to override government failures...
We need a revolution in this country if for no other reason than to level the playing field. Our money is worthless because of all of the hustles of the banks and our government. We not only need something like Bitcoin, we also need to get rid of the banks and install a new government.
Bitcoin is a new generation's response to wanting to pursue and alternative to what amounts to totalitarianism. Why should the US care? To preserve "Our Integrity" ? The banks are nothing more than a bunch of vampires in brooks brothers suits. Their motto should be “We’d prefer blood but………we’ll take cash.”

Is This The END of BITCOIN? ~ U.S. BLOCKS World's Largest BITCOIN Exchange

U.S. BLOCKS World's Largest BITCOIN Exchange - Is This The END of BITCOIN?

More bumps in the road are probably in store for Bitcoin. The virtual currency has seen some massive swings in value over the last several weeks, but that volatility is not likely to end soon, its lead developer suggested on Saturday.

"We've been on a roller coaster ride," said Gavin Andresen, chief scientist at the Bitcoin Foundation, which provides much of the core backend development for the currency.

"I expect for the next few years we're going to remain on a roller coaster ride," he said, speaking in front of a packed room of developers, enthusiasts, venture capitalists and other industry players at Bitcoin 2013, the first conference in Silicon Valley to be held on the topic.

Bitcoin is a digital currency that is managed and traded on a peer-to-peer computer network. Often referred to as a form of "crypto-currency," it is intended to be a decentralized form of payment not regulated by any financial institution or governmental body. A variety of online retailers and a growing number of brick-and-mortar stores are now accepting Bitcoins, which can either be purchased through exchanges on the Internet or "mined" by using specialized hardware.
Hitting some bumps

But the growing attention the currency has experienced has come with numerous setbacks as well, in the form of hacks, the shutdown of various exchanges, seizure of accounts and huge selloffs in Bitcoin.

In March, Bitcoins were trading for roughly US$30. Then for a brief period in April its price on the Tokyo-based exchange Mt. Gox skyrocketed to over $230. A couple of days later, its value plummeted to roughly $120 as a massive sell off forced Mt. Gox to temporarily shut down.

This past week, Mt. Gox received a seizure order of its funds by the Department of Homeland Security, triggered by an alleged failure to comply with U.S. financial regulations.

Despite the challenges, Bitcoin's Andresen is not deterred. "We have to be reliable and resilient," he said. The foundation, which currently just has two full-time staff, is looking to hire a Washington lawyer this year to engage with politicians and to help support the currency's growth.

Hundreds of attendees are at the Bitcoin conference, with roughly 20 exhibitors offering a range of Bitcoin-related products such as digital wallets, specialized trading services, and analytical tools.

"Star power" has even been provided by Tyler and Cameron Winklevoss , the brothers claiming ownership of the idea for Facebook, who delivered the opening keynote on Friday night

Bitcoin supporters promise banking 'revolution'
Some workers are now even being paid with new virtual currency that you can only spend online.

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Bitcoin threatens both the financial elite's monopoly over the economy and the online web of payment systems which have been used as a tool to crack down on free speech on the Internet, Amir Taaki, a bitcoin software developer, told RT.

On Wednesday, The US Department of Homeland Security seized a payment processing account belonging to Mt. Gox, the largest international Bitcoin trader over claims the monetary exchange service had falsified financial documents.

The US government has never hidden the fact that it is closely watching the virtual currency, which international regulators have thus far failed to keep a lid on.

But while banks and governments have treated the Bitcoin payment system as an "existential threat" to current financial system, Taaki argues that the virtual currency epitomizes real free trade and is a necessary tool to maximize the benefits of a free and open market.

Amir Taaki: The basic gist of it is, there is this network of people worldwide, and any person that joins the Bitcoin network is responsible for upholding it. The Bitcoin is actually a form of money, like the dollar, euro or pound, but it's virtual currency

US Department of Homeland Security Seizes Bitcoin Operator Accounts

US Department of Homeland Security Seizes Bitcoin Operator Accounts
Bitcoin is a database called the "Blockchain" that is shared among users via P2P in place a central authority like a bank. When making a purchase you receive a payment address an amount. Put that information into your wallet and click "send." A miner then records the transaction and adds it to the Blockchain database so everyone can see the transaction.


US authorities have frozen the account of the world's largest Bitcoin exchange, which helps move the customers' cash online. The booming digital currency has hit bureaucratic blocks ever since its rapid growth came to the attention of government.

The US Department of Homeland Security seized a payment processing account Tuesday belonging to Mt. Gox, the largest international Bitcoin trader, claiming the monetary exchange service falsified financial documents.

The American government has previously made it clear that officials are watching Bitcoin, a decentralized economic currency that international regulators have not yet been able to control. Many of those who favor Bitcoin use Dwolla, an Iowa-based startup that allows customers to transfer their dollars into Bitcoins.

Unfortunately for those consumers, the Department of Homeland Security issued a warrant Tuesday effectively shutting down Dwolla's ability to process Bitcoin payments, as reported by CNET. Whether because of the DHS' charge of operating an "unlicensed money transmitting business," the sudden timing of the allegations, or another reason, Dwolla and Mt. Gox officials have been reluctant to comment.

"In order not to compromise this ongoing investigation being conducted by ICE Homeland Security Investigations Baltimore, we cannot comment beyond the information in warrant, which was filed in the District of Maryland [Tuesday]," said Nicole Navas, a representative for US Immigration and Customs Enforcement.

The warrant claims Mt. Gox CEO Mark Karpeles did not disclose he operated a financial transfer site when he opened a new bank account for the business. Money transmitting services, according to Gawker, are required to register with the Department of Treasury's Financial Crimes Enforcement Network (FinCen). Mt. Gox, which is involved in roughly 63 per cent of all Bitcoin purchases, has not done so.

Despite the technicalities skeptics are wondering if Bitcoin's friction with the Treasury department is the cause of this recent scrutiny. Senator Chuck Schumer (D-New York) said the anonymity afforded by the service provided an "online form of money laundering" and campaigned for its downfall.

"Literally, it allows buyers and users to sell illegal drugs online, including heroin, cocaine, and meth, and users do sell by hiding their identity through a program that makes them virtually untraceable," Schumer said during a 2011 news conference. "It's a certifiable one-stop shop for illegal drugs that represents the most brazen attempt to peddle drugs online that we have ever seen. It's more brazen than anything else by light years."

Most notably, proponents have asserted that Bitcoin would be impermeable in instances where WikiLeaks, for example, saw its funding evaporate as the federal government pressured PayPal to cut off the whistleblower site's support network. Bitcoin would be more resistant to a crackdown of that nature.

Jerry Brito, a scholar at the libertarian Mercatus Center at George Mason University, told the Washington Post Bitcoin could reduce the cost of financial services by pioneering new business formats.

"Bitcoin has the potential to be a boon to the economy and a boon to merchants," he said, adding that it could "disrupt traditional payment networks that have not been innovative for a very long time."

A blind governmental crackdown would only serve to push Bitcoin further underground, Brito argued.

"You can't put the genie back into the bottle," he continued. "I hate to say it, but the Bitcoin community needs to start lobbying. It needs to start educating policymakers, lobbyists and influencers about the pros of Bitcoin and the impossibility or the difficulty in getting rid of all the bad uses."

Bitcoin ~ The Next Revolution in Banking

Bitcoin supporters promise banking 'revolution'

The new virtual currency Bitcoin: You can't touch it; you can only spend it online or with a smart phone. But supporters of Bitcoin say it will revolutionise banking. And now some workers are even being paid with the new system. Al Jazeera's Rob Reynolds went to meet one man who's doing just that, and finds out how his salary has gone up ten-fold.