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Bitcoin: Boom or bust? Alaskans bet on the virtual currency - Anchorage Daily News

Bitcoin: Boom or bust? Alaskans bet on the virtual currency - Anchorage Daily News | money money money | Scoop.it

A 4-year-old "virtual" currency called Bitcoin is finding investors around the world, including in Alaska. Bitcoin's growth has been fueled largely by a handful of ardent believers who see online money as a staple of future commerce.

On a national stage, Bitcoin has earned itself a starkly divided reputation. Some love it because it's anonymous, Web- based and potentially lucrative. Others hate it for the same reasons. Most don't know enough to weigh in either way.



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FED PRESIDENT LACKER: I Don't See Why The Fed Would Want To Stop Bitcoin

FED PRESIDENT LACKER: I Don't See Why The Fed Would Want To Stop Bitcoin | money money money | Scoop.it
But opportunities for the media to directly and publicly ask a regulator about the government's stance on Bitcoin have been limited. Until this morning.
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Bitcoin Isn't Alone: Newer Currencies Popping Up (Video) - The Business Journals

Bitcoin Isn't Alone: Newer Currencies Popping Up (Video) - The Business Journals | money money money | Scoop.it
Dec. 23 (Bloomberg) -- Matt Miller reports on crypto-currencies and bitcoin competition. He speaks on on Bloomberg Television's In The Loop.
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Networks will form and needs will be met. The mechanics of Bitcoin adoption. | DGC

Networks will form and needs will be met. The mechanics of Bitcoin adoption. | DGC | money money money | Scoop.it
Bitcoin is fast, secure, nearly free, has a stable supply and has a high level of user control... its just plain better than the banks. You have to wonder why the hell everyone isn't using it?
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The Bitcoin Mines of Iceland - New York Times

The Bitcoin Mines of Iceland - New York Times | money money money | Scoop.it

INTO THE BITCOIN MINES  |  On the flat lava plain of Reykjanesbaer, Iceland, near the Arctic Circle, you can find the Bitcoin mines, Nathaniel Popper reports in DealBook. There, more than 100 whirring silver computers, each in a locked cabinet and each cooled by blasts of Arctic air, are the laborers of the virtual mines where Bitcoins are unearthed. The custom-built machines, running an open-source Bitcoin program, perform complex algorithms 24 hours a day, seeking to win a block of 25 new Bitcoins from the virtual currency’s decentralized network.

 
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Peter Schiff: Bitcoin intriguing, but isn't going anywhere - Yahoo Finance (blog)

Peter Schiff: Bitcoin intriguing, but isn't going anywhere - Yahoo Finance (blog) | money money money | Scoop.it

It’s been all the rage among the tech savvy, dollar doubters, and even those engaged in illicit activity – bitcoin. The virtual, decentralized, private currency has been gaining in value since its inception five years ago, and recent trading in the currency has been exceptionally volatile.  

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Bits and Barbarism

Bits and Barbarism | money money money | Scoop.it

The second money pit is a lot stranger: the Bitcoin mine in Reykjanesbaer, Iceland. Bitcoin is a digital currency that has value because ... well, it’s hard to say exactly why, but for the time being at least people are willing to buy it because they believe other people will be willing to buy it. It is, by design, a kind of virtual gold. And like gold, it can be mined: you can create new bitcoins, but only by solving very complex mathematical problems that require both a lot of computing power and a lot of electricity to run the computers.

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Libertarians And Millennials Are Going Crazy Over Bitcoin: What Are They?

Libertarians And Millennials Are Going Crazy Over Bitcoin: What Are They? | money money money | Scoop.it
A case study in how market-based money can work. (Libertarians And Millennials Are Going Crazy Over Bitcoin: What Are They?
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Bitcoin Mining Is Becoming A Professional, Industrial, Nordic Enterprise

Bitcoin Mining Is Becoming A Professional, Industrial, Nordic Enterprise | money money money | Scoop.it
As the New York Times' Nathaniel Popper points out today, this professional cost-sharing arrangement now how Bitcoin mining gets done.
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Cryptsy Alternatives: Buying and Selling Altcoins | The Bitcoin News

Cryptsy Alternatives: Buying and Selling Altcoins | The Bitcoin News | money money money | Scoop.it
30 November 2013 | By ruletheworld | btcgeek.com Here are some Cryptsy alternatives that you might find helpful. These are all sites like Cryptsy in that they help you trade altcoins.
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Schiff: Bitcoin resembles the tulip bubble

Schiff: Bitcoin resembles the tulip bubble | money money money | Scoop.it
The Winklevoss twins call Bitcoin "gold 2.0," but Peter Schiff calls that hogwash. He explains why it more closely resembles a pyramid scheme, with CNBC's Jackie DeAngelis and the Futures Now Traders.
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Regulation and Bitcoin (Jerry Brito)

Regulation and Bitcoin (Jerry Brito) | money money money | Scoop.it
Regulation and Bitcoin (Jerry Brito) Federal agencies will attempt to regulate Bitcoin, according to the Mercatus Center's Jerry Brito. Given that regulation simply cannot control the new currency,...
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Disruptions: Betting on Bitcoin - New York Times (blog)

Disruptions: Betting on Bitcoin - New York Times (blog) | money money money | Scoop.it

It begins in 2010 — eons ago, in technology time — in Jacksonville, Fla. A software programmer named Laszlo Hanyecz had, to his happy surprise, persuaded someone to accept 10,000 Bitcoins in exchange for two pizzas from Papa John’s. And why not? By Mr. Hanycez’s reckoning, the Bitcoins he had been “mining” on his computer were worth about 0.003 cent apiece. He got his two pies for $30 of found money.

 
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Corruption And The Global Financial Crisis

Corruption And The Global Financial Crisis | money money money | Scoop.it
The financial debacle has many causes and implications, but it would be wrong to underestimate systemic corruption.
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Even if Bitcoin fails, cryptocurrencies are here to stay

Even if Bitcoin fails, cryptocurrencies are here to stay | money money money | Scoop.it

Is paper money headed for obsolescence, swept aside by the meteoric rise of Bitcoin? Is the controversial cryptocurrency the harbinger of a golden age of e-commerce, where all transactions are electronic, frictionless and not under the control of central banks? It’s not hard to come to that conclusion given some of the recent hype.

 
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Not Fit for the Next Crisis: Europe's Brittle Banking Union - SPIEGEL ONLINE

Not Fit for the Next Crisis: Europe's Brittle Banking Union - SPIEGEL ONLINE | money money money | Scoop.it
German Finance Minister Wolfgang Schäuble has negotiated a European banking union suited perfectly to his country's tastes. It looks like a victory, but it could prove to be very expensive if Europe or Germany face another financial crisis.
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Bitcoin boon? Overstock to become biggest retailer to accept the virtual currency - NBCNews.com (blog)

Bitcoin boon? Overstock to become biggest retailer to accept the virtual currency - NBCNews.com (blog) | money money money | Scoop.it

Bitcoin enthusiasts will soon be able to go on a bigger shopping spree thanks to Overstock.com, which is slated to become the biggest retailer in the U.S. to accept the virtual currency.

 
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Bitcoin 2014 Price Prediction & Forecast

Bitcoin 2014 Price Prediction & Forecast | money money money | Scoop.it

Bitcoin is an decentralized online currency that has seen explosive growth during 2013. Starting the year off at $13, bitcoin was largely unknown to a vast majority of society. However even after seeing explosive growth of 7,500% during 2013, society still does not understand the innovations of bitcoin and the value it offers to society.  What will the price of bitcoin be in 2014? Watch the video below for a price prediction based on the adoption rate. Don’t forget to leave your 2014 price forecast for both bitcoin & litecoin below.

 

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12 Days of Bitcoin: From NYC Streets to London Bars: Video

12 Days of Bitcoin: From NYC Streets to London Bars: Video | money money money | Scoop.it
Stay up to date on the latest business news, stock market data and financial trends. Get personal finance advice from leading experts.
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Litecoin vs. Bitcoin: Top Two Cryptocurrencies Compared [Infographic]

Litecoin vs. Bitcoin: Top Two Cryptocurrencies Compared [Infographic] | money money money | Scoop.it

Litecoin vs. Bitcoin, who win? It is more like a comparison between gold and silver. These are the top two cryptocurrencies by market cap if you don’t include Ripple (XRP). Recently Bitcoin (BTC) had a market cap of $8.48 billion and Litecoin (LTC) was at $485 million.

 
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How the Federal Reserve and Bank of England Are Fueling Massive Global Inequality

How the Federal Reserve and Bank of England Are Fueling Massive Global Inequality | money money money | Scoop.it
That the U.S. and U.K.'s central banks are encouraging food speculation — and are thus responsible for its disastrous results — shows clearly how both countries' monetary policies are engineered to work against the interests of the majority.
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Essays in Monetary Theory and Policy: On the Nature of Money ...

Essays in Monetary Theory and Policy: On the Nature of Money ... | money money money | Scoop.it

The discrepancy between the orthodox (primarily neoclassical) and the heterodox (Post Keynesian, Chartalism, MMT, etc.) schools of thought rests fundamentally in their different perception in the way the capitalist economy functions.  Such discrepancy can be described in the contrast between C – M – C’ and M – C – M’.  The orthodox school holds the former view that depicts a barter economy in which the end purpose of production is consumption.  Individuals innately engage in production because of the urge to truck and barter.  Money merely facilitates the exchange of goods and services and cannot affect production decisions.  The heterodox school, however, asserts the latter view that depicts a monetary production economy in which production is always financed through money and would not take place unless more money expects to be realized through sale of goods and services.  Hence, the orthodox school asserts money neutrality (at least in the long run) since money is simply the medium of exchange.  The heterodox school rejects money neutrality since money not only finances production but also serves as its end goal.  The distinction between the barter and the monetary economy, as discussed above, thus necessarily implies a very different understanding of the nature, origin, and role of money between the orthodox and the heterodox school of thought.  The purpose of this paper is, through examining the nature and origin of money in a historically grounded context, to demonstrate that the orthodox school of thought has completely mistaken the nature of money and consequently misinterpreted the nature of the capitalist economy.  Such theoretical misunderstanding is devastating because it manifests wrong policies that continually fail to address economic and social problems threatening a capitalist society.  Based on the heterodox theory of money, the paper also intends to shed light on alternative guiding principles behind monetary and fiscal policies.

 

 

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Essays in Monetary Theory and Policy: On the Nature of Banking ...

Essays in Monetary Theory and Policy: On the Nature of Banking ... | money money money | Scoop.it

Hyman P. Minsky said he thought there were as many forms of capitalism as Heinz had pickles.  The same can be said about the different types of banking within the financial system.  The system has undergone a dramatic transformation over the development of the capitalist economy, and Minsky spent a large amount of time studying this transformation.  Many economists feel the same way as Minsky did, that the results achieved by a capitalist economy can be viewed from two fundamentally different perspectives: the Smithian way and the Keynes way.  The Smithian way assumes the presence of an “invisible hand”, and therefore “intervention or regulation can only do mischief.” (Minsky 1991, 5)  In contrast, the Keynes way assumes that the economy is naturally unstable, and “… regulation and intervention can be beneficial.” (Minsky 1991, 5)  When designing economic policies, government leaders must choose between these two perspectives.  This is exactly what policy makers have done over the evolution of the capitalist economy, and their decisions have transformed the banking system in many ways.

 

 

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Bitcoin -- or something like it -- is here to stay | WashingtonExaminer.com

Bitcoin -- or something like it -- is here to stay | WashingtonExaminer.com | money money money | Scoop.it
For months, I have been intrigued by the Bitcoin phenomenon. I am not alone, obviously, since the decentralized digital currency has been the red hot subject of policy conversations and investment flurries for the past year.
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Bitcoin Alternative Dogecoin Soars 900% As Other Crypto-Currencies Suffer

Bitcoin Alternative Dogecoin Soars 900% As Other Crypto-Currencies Suffer | money money money | Scoop.it

Created in early December, dogecoin is one of a growing number of crypto-currencies which function in a similar way to bitcoin. They are all decentralised, with no backing from any country or bank, and they can be traded online for fiat currencies like dollars and sterling.

 
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Curated by jean lievens
Economist, specialized in political economy and peer-to-peer dynamics; core member of the P2P Foundation