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One of the world's biggest banks just admitted bitcoin could destroy existing finance firms

One of the world's biggest banks just admitted bitcoin could destroy existing finance firms | Bitcoin | Scoop.it

French bank BNP Paribas says the technology underpinning bitcoin has the potential to make existing companies "redundant," a huge admission from one of the world's biggest banks.

 



Read more:  http://uk.businessinsider.com/bnp-paribas-bitcoin-blockchain-securities-firms-redundant-2015-7?r=US&__scoop_post=0a1a7090-241b-11e5-8060-90b11c3ead14&__scoop_topic=432195#__scoop_post=0a1a7090-241b-11e5-8060-90b11c3ead14&__scoop_topic=432195#ixzz3f911C01e


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BitBeat: Bitcoin, the Euro, and Currency Crises

BitBeat: Bitcoin, the Euro, and Currency Crises | Bitcoin | Scoop.it
The world's gaze has been fixated on the eurozone crisis, which helped push bitcoin back to $300 for the first time since March. But bitcoin has its own crisis brewing, and both offer valuable lessons on what makes a currency valuable--real, digital, or otherwise.

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New Blockchain Startup Brings Contracts into the Digital Age

New Blockchain Startup Brings Contracts into the Digital Age | Bitcoin | Scoop.it
SmartContract CEO Sergey Nazarov lauching his company's products at DEMO In San Jose. Source: CoinDesk
One of the most notable features of blockchain-based technology is the ability to provide substantial public proof of information.
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Satoshi e gli altri. Persone attorno a Bitcoin

Satoshi e gli altri. Persone attorno a Bitcoin | Bitcoin | Scoop.it
Dai membri della Fondazione Bitcoin agli sviluppatori, da fondatori di aziende startup a divulgatori… questa è parte della folla di personaggi che stanno costruendo qualcosa attorno a bitcoin.
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Bitcoin Foundation Hires Developer Sergio Lerner for Full-Time Security Role

Bitcoin Foundation Hires Developer Sergio Lerner for Full-Time Security Role | Bitcoin | Scoop.it
The Bitcoin Foundation has announced the appointment of a new core security auditor as part of its broader shift to focus on bitcoin core development.
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MasterCard Executive Argues Bitcoin Can't Be Trusted

MasterCard Executive Argues Bitcoin Can't Be Trusted | Bitcoin | Scoop.it
In a new video, Matthew Driver, MasterCard’s president for South East Asia, issued a strong rebuke of digital currencies like bitcoin, suggesting that cryptocurrencies carry too many risks to be successful.
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Bitcoin Price Decline Sparks Rare Mining Difficulty Drop - CoinDesk

Bitcoin Price Decline Sparks Rare Mining Difficulty Drop - CoinDesk | Bitcoin | Scoop.it
Following a period of stagnant pricing, bitcoin mining difficulty has decreased for the first time in two years.
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U.S. Marshals Complete Second Auction Of Silk Road Bitcoin - TechCrunch

U.S. Marshals Complete Second Auction Of Silk Road Bitcoin - TechCrunch | Bitcoin | Scoop.it
The U.S. Marshals Service has completed the second auction of bitcoin seized from the original Silk Road. The auction, consisting of 50,000 BTC, is the latest..
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EZTV Users Help to Fund Horror Movie, and Open Source Another

EZTV Users Help to Fund Horror Movie, and Open Source Another | Bitcoin | Scoop.it
Many people assume that “pirates” structurally refuse to pay for any type of entertainment. In reality, however, we often see the opposite happening.
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US Marshal Office Offers 100% “Washed” Bitcoins

US Marshal Office Offers 100% “Washed” Bitcoins | Bitcoin | Scoop.it
The US Government through the US Marshal office has now entered the Bitcoin ‘mixing’ service space, offering an unprecedented service that will “clean” the Bitcoins that were considered “illegal” and turn them into effectively “washed” Bitcoins.
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Bitcoin in the Beltway: the Belly of the Beast?

Bitcoin in the Beltway: the Belly of the Beast? | Bitcoin | Scoop.it
Washington DC is practically a mythological place for many Bitcoiners. As the headquarters of the US federal government, the conspiracy theorists among us tend to view it as the center of a nebulous and all-powerful entity.
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Minecraft Developer Accepting Dogecoin for New Game

Minecraft Developer Accepting Dogecoin for New Game | Bitcoin | Scoop.it
Games developer Markus Persson has announced his first commercial release since Minecraft – a tongue-in-cheek spoof seemingly designed to make fun of the big studios. Furthermore, he is accepting optional payment in dogecoin.
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Former Visa Exec to Join BitPay as Chief Compliance Officer

Former Visa Exec to Join BitPay as Chief Compliance Officer | Bitcoin | Scoop.it
Former Visa anti-money laundering and anti-terrorist financing officer Tim Byun has announced that he will join Georgia-based bitcoin merchant processor BitPay as its chief compliance officer.
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Uber Denies Rumors It Will Accept Bitcoin Payments - CoinSpeaker - Coinspeaker

Uber Denies Rumors It Will Accept Bitcoin Payments - CoinSpeaker - Coinspeaker | Bitcoin | Scoop.it
Uber rebutted information about its plans to accept bitcoin as passenger fare.

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Paul Krugman Takes Another Potshot at Bitcoin | Gola Yashu | NEWSBTC

Paul Krugman Takes Another Potshot at Bitcoin | Gola Yashu | NEWSBTC | Bitcoin | Scoop.it

If you and I are ready to settle our trade in Bitcoin, this technological marvel is here to stay.

But even a nobel award winning — and stubbornly ideological — economist like Paul Krugman has to be explained this very simple fact. The poster child of traditional finance system has once again tried his very best to besmirch Bitcoin, while repeating the age-old rhetorics related to the digital currency’s longevity as a value-holding asset.

The comments come during a show, ironically called “The Genius of Economics”, where Mr. Krugman is asked about his views on the disruptive digital currencies “such as Bitcoin” and how they refute the idea of government-backed currencies. With a few public laughs that come after this question is asked, the economist begins with saying that “Bitcoin is not looking too good”, a statement that takes everything — that is said afterwards — to the south.

“Money is a pretty amazing thing,” he stammers and states. “Why does a piece of green paper with a dead president on it have value? Ultimately, it’s because other people believe it has value, and [it] circulates. However, there is an anchor for dollar bills which is not gold. It is the fact that you can use it to pay taxes.”

“And then you have someone try creating Bitcoin which has nothing in the end. It’s a purely self-fulfilling prophecy; it is purely levitating on itself, which is not impossible but is kinda unlikely. And I have to say that Bitcoin really looks like a bubble in multiple senses. Its a technically sweet solution to a problem, but it is not clear that the problem is one that has much economical relevance.”

Krugman goes on rubbishing Bitcoin by indicating it as an inessential payment solution, saying that the world already has platforms like credit cards and their monetary system currently already has billion dollars of “ones and zeros” for doing the same thing Bitcoin does.

 

Click headline to read more and access hot links--


Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
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Acacia Trading Bot - Bitcoin & Cryptocurrency Trading Bot

Acacia Trading Bot - Bitcoin & Cryptocurrency Trading Bot | Bitcoin | Scoop.it
Easy, affordable, and powerful bitcoin / cryptocurrency trading bot. Try the Acacia Trading Bot for 7 days free!
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Top Dutch Banks Confirm Blockchain Experiments

Top Dutch Banks Confirm Blockchain Experiments | Bitcoin | Scoop.it
Three Dutch banks have announced that they are experimenting with blockchain technology as a way of improving their payments systems.
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Evolution, Not Revolution: How to Sell Bitcoin to Regulators

Evolution, Not Revolution: How to Sell Bitcoin to Regulators | Bitcoin | Scoop.it
Amor Sexton is a consultant and lawyer at Adroit Lawyers, Australia's first specialist digital currency legal practice.
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California to Debate Bitcoin Regulation at December Meeting

California to Debate Bitcoin Regulation at December Meeting | Bitcoin | Scoop.it
Although home to a sizeable majority of the burgeoning bitcoin industry, California has been relatively quiet on the subject of whether it will seek to regulate digital currency businesses.
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Proposed US Law Calls For Five-Year Moratorium on Bitcoin Regulation

Proposed US Law Calls For Five-Year Moratorium on Bitcoin Regulation | Bitcoin | Scoop.it
HR 5777, a new bill submitted to Congress by US Representative Steve Stockman (R-TX), calls for a five-year moratorium on digital currency regulation within the US.
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What Can I Do With My Bitcoins? - CoinTelegraph

What Can I Do With My Bitcoins? - CoinTelegraph | Bitcoin | Scoop.it
What Can I Do With My Bitcoins?
CoinTelegraph
Now that you have gotten your grubby little digital claws on some Bitcoin, you might be wondering what you can do with them.
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An Interview With Jeff Garzik, Bitcoin in Space

An Interview With Jeff Garzik, Bitcoin in Space | Bitcoin | Scoop.it
Catherine: How long have you been interested in space?
Jeff: I’ve been interested in space for as long as I can remember. My father flew fighter jets and worked on rockets early in his career. The Right Stuff was a favorite movie, as was Star Wars.
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Bitcoin is Revolutionizing How Consumers Buy Music

Bitcoin is Revolutionizing How Consumers Buy Music | Bitcoin | Scoop.it
Today, music consumption is stronger than ever, but you probably would not be surprised that a great many consumers are turning to subscription-based platforms rather than actually purchasing songs or albums.
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BitLegal - Welcome

BitLegal is the easiest way to explore the evolving legal and regulatory status of Bitcoin and virtual currencies around the globe.
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How to Succeed With Your Bitcoin Startup

How to Succeed With Your Bitcoin Startup | Bitcoin | Scoop.it
With any new and exciting technology, startups flourish – and bitcoin is no exception.
Venture capital investment in the digital currency space is soaring and is likely to hit $300m this year – three times the total for 2013.
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