Sunday, January 19, 2014

The Legal Crowd Now Calls Bitcoin “Prosecution Futures”

“I suspect that the online drug marketplace is a passing fad because it’s too traceable, too vulnerable to hacking,” said Mr. Weaver at the International Computer Science Institute. Once Bitcoins are converted to another currency, the government can subpoena the records of the exchange where the transaction took place and harvest all the information it needs. “Bitcoin isn’t really a ‘coin’ as much as a distributed, public balance ledger,” Mr. Weaver added, “with every balance and transaction recorded.”
Hence Bitcoin’s wry new nickname in legal circles: “Prosecution Futures.” 

3 comments:

  1. A New Way to Hold Gold
    Democratizing Gold

    In short, a fractional gram's worth of gold is affixed to layers of polyester, creating a note – called an "Aurum" – similar in dimension and thickness to a U.S. dollar bill. This gold (usually 1/10th or 1/20th of a gram) is commercially recoverable. So an Aurum offers similar potential as a coin or bar, in terms of providing a vehicle for storing and exchanging known, dependable increments of precious metals – just in much smaller (and more affordable) amounts than commercially available to date.

    The big idea here? In a world where a 1oz coin of gold costs over $1,200, an Aurum will let you hold a few dollars' worth of gold in a single note. If you've got pocket change, you can be a precious metals owner.

    And you don't have to change your behavior. You can store and transport an Aurum in your billfold along with your dollars.

    http://www.peakprosperity.com/podcast/84359/new-way-hold-gold

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  2. At Davos: Paul Singer To Warn Of Derivatives Catastrophe

    Paul Singer’s speech and later debate on the topic “Are Markets Safer Now?” is expected to shake the very foundation of the elite event, according to a letter to investors reviewed by ValueWalk. “We can only assume that the reason the global financial system is still… overleveraged, opaque, reliant upon the implicit and explicit support of governments for its very existence… is that fixing the problem would be too painful for powerful special interest groups,” the rough draft says, setting up for the next warning and pointing to government bailouts and the political lobbying machine that ensures they remain intact.

    http://www.valuewalk.com/2014/01/paul-singer-davos-speech/

    ReplyDelete
  3. This is very true for the uninformed.

    ReplyDelete