BITCOIN PRICE RISING AGAIN - Big Business / Corporations Now Adopting Bitcoin
Imagine a world in which you can buy anything in secret. No banks. No
fees. No worries inflation will make today's money worth less tomorrow.
The
digital currency Bitcoin promises all these things. And while it's far
from achieving any of them — its value is unstable and it's rarely used —
some have high hopes.
"There will be alternatives to the dollar,
and this might be one of them," said former U.S. congressman Ron Paul.
If people start using bitcoins en masse, "it'll go down in history as
the destroyer of the dollar," Paul added.
Alex and Max Keiser continue on the topic of rigged global markets and fiat currency vs bitcoin.
A
man who was traveling through Manchester, New Hampshire was stopped and
harassed by the TSA after he opted out of going through a body scanner.
The official reason for further interrogation, according to the
screeners, was "We saw Bitcoin in your bag and need to check."
Bitcoin
refuses to flip: Virtual currency stays strong despite bankruptcies,
gyrating rates The March report revealed that a National Science
Foundation researcher got the boot for using his access to
supercomputers to mine Bitcoin: We received reports describing a
researcher's abuse of NSF-funded supercomputing resources at two
universities to conduct bitcoin mining activities. Bitcoin is a virtual
currency that is independent of national currencies, but it can be
converted into traditional currencies through exchange markets. It is
generated or "mined" through a process that is by design computationally
intensive.
The researcher isn't the first to use access to other
people's powerful computers to play virtual currency miner. A student
at London Imperial College and a researcher at Harvard University both
got in trouble earlier this year for using their fine establishments'
computers to mine Bitcoin's funnier cousin, Dogecoin. Last year, New
Jersey fined a gaming company one million dollars for secretly turning
its gamers' computers into Bitcoin mining slaves.
If you're a European
reading this story outside the Eurozone, or perhaps a resident of Hong
Kong or Russia, the reverse may be true: A majority of your compatriots
may not have heard of Bitcoin, but anyone sophisticated enough to have
read up on it now likely owns some. As Bitcoin enters its fifth year
in the wild, its largest concentrations of users can now be found not in
the U.S. — which enjoys a stable banking system and a galaxy of
existing mobile payments services — but rather in places where Bitcoin's
core offerings — a hedge against inflation, a means of quickly
executing transactions over long distances — can actually be tapped
into.
"The reality is that in North America, consumers have
access to a fairly decent set of financial services," Peter Smith, COO
of Bitcoin wallet firm Blockchain, told BI in an email." On a currency
basis, RMB-denominated Bitcoin trades now outrank USD despite a
seemingly never ending stream of threats out of the People's Bank's of
China that they'll end all transactions.
In a landmark monetary
policy move, the European Central Bank (ECB) has announced negative
interest rates. The ECB will charge an interest rate of -0.1% to banks
wishing to store euros within central bank vaults. Domestically, the
intention is to prod banks into lending money to businesses as opposed
to buying government bonds.
John Donahoe, president and CEO of
eBay Inc. was talking about his company's future with digital currencies
on CNBC. In the interview, he once again offered positive words about
the future of technological advancements in money. 'I think there's no
doubt digital currency is going to play an important role going forward,
and at PayPal, we're going to have to integrate digital currencies into
our wallet.'
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