DOCSLIB.ORG

2011 FOFOA Compendium Kindle Version

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2011 FOFOA Compendium Kindle Version 2011 FOFOA Compendium Table of Contents It's Déjà vu All Over Again ................................................................3 Reference Point: Gold - Update #1 ....................................................9 Freegold Foundations ......................................................................27 Who is Draining GLD? ....................................................................54 The View: A Classic Bank Run ........................................................73 Reply to Bron ...................................................................................97 Defending the Precious ..................................................................123 How is that different from Freegold? ............................................133 Wendy's Open Forum - Part 2 ........................................................142 Via Email ....................................................................................... 158 Indicium .........................................................................................171 More Freegold Fodder ................................................................... 183 Reference Point Revolution! ..........................................................214 A Winner Takes the Gold ...............................................................239 Big Gap in Understanding Weakens Deflationist Argument .........257 Reference Point: Gold - Update #2 ................................................267 Deflation or Hyperinflation? ..........................................................278 Costata's Silver Open Forum .........................................................324 The Return to Honest Money ........................................................366 Open Letter to Ron Paul ................................................................424 Bitcoin Open Forum ...................................................................... 431 Bitcoin Open Forum - Part 2 .........................................................437 Bitcoin Open Forum - Part 3 .........................................................439 From the Treasure Chest ................................................................449 Euro Gold .......................................................................................487 Does Fiat Produce an Endless Sea of Wars? ..................................510 Treasure Chest 2 – Game Changer ................................................532 Once Upon a Time .........................................................................548 On Scary Corrections .....................................................................577 RPG Update #4 ..............................................................................587 Moneyness ..................................................................................... 603 Unambiguous Wealth .....................................................................676 Unambiguous Wealth 2 – The MF Global Chronicles ...................691 Happy New Year! ...........................................................................707 Tuesday, January 4, 2011 It's Déjà vu All Over Again Did you experience a slight case of déjà vu today seeing the price soften as the London bullion banking community newly returns from its long-weekend holiday? More to the point, a MTM-minded person can ignore today's trading shenanigans because, more importantly, gold's price remained neatly elevated right through the key year-end revaluation period... Friday, July 2, 2010... Timing Is Everything: I'm sure you've all heard it said (usually by puffed-up market players, or especially in old movies featuring that sort of character) "My boy, timing isn't everything... it's the ONLY thing!" To be sure, timing ISN'T everything, and it most certainly isn't the ONLY thing... but one thing about timing bears saying right here, right now.... Did you notice how gold's little slide yesterday occurred... (hmmmmm... how shall I put this for proper emphasis...) YESTERDAY!!? I don't mean to say did you notice HOW it occurred, or even so much to emphasize THAT it occurred at all (that's a small matter), but rather, that such an event happened YESTERDAY! And more precisely to the point, it isn't even so very notable that it happened yesterday (or today, or next week, or even at all) because the very significant fact is that it did NOT happen PRIOR to yesterday!! "Yesterday", of course, being July 1st, the day AFTER June 30th, a very "special" day in the lives of many young central bankers across the world, when love is in the air and their thoughts turn to unwrapping the presents delivered to them (monthly for some, quarterly for others) on the shoulders of the resolute MTM Giants. After the "snapshots" are taken, who really gives a hoot what happens the day after? And of course, such volatility quickly shakes loose those outsiders of least conviction, and then the price again moves upward as the giants come around again, picking up crumbs dropped by weak hands, bearing their load, bringing the gift of value... FOA (06/12/00; 19:48:25MT - usagold.com msg#26) Put your cards on the table! The current paper gold world will die (burn) as its value to users erodes, not increases! We have to remember that some 85% (or more) of the long side of our world paper markets will not (perhaps cannot) take delivery of physical gold. If the paper trading price is driven ever lower from new derivative supply, these longs simply "trade out" and take their cash hit. The major banks and players in this arena know this and therefore are not at risk from expanding their positions. Truly, they are only playing behind the real political game today. Indeed, if the Euro function will ultimately burn the dollar and its paper gold markets and replace it with a physical "free gold" market, then selling paper gold is free money! Right? This is but one segment of the coming currency transition and to date it's progressing right along! Again, most everyone in the Western Gold bug game is running with the ball in the wrong direction. They are trying to understand just how the Euro zone players are going to get out of our current gold market liabilities when the Euro makes use of the dollar gold market! These same thinkers are looking for some kind of "work out" of our system so its price discovery function will value gold where it should be! My observation from the "Euro Makers" is that one should "forget this notion!" "Nobody" gives a hoot about holding "price discovery" paper contracts as the real thing. Except for those with the real power to trade something for full payment! OIL! Today, paper gold derivatives are for selling because they will eventually be politically defaulted once their discount to physical drives their value next to nothing. So who is in danger of being hurt as this unfolds? That's right, the Western paper gold long! I'm not talking about just the US market! This is about the entire world gold market as we know it today. The real play will be for the ones that get out in front of the move by owning physical. This stampede out of "paper physical" by the "big boys" will first discount that medium as all the selling comes to play. Then the real buying of physical will ensue. It seems every Gold bug sees only half the trade and has great faith that contract law will favor a short squeeze. Yet, none of them see where it is the long that will be dumping and forcing the discount! So what did you think of the gold "take down" yesterday? Did July 1st mean anything to you? Well, if I were a Central Banker who marked my reserve assets to market price (MTM<--MUST READ) like all Central Bankers should... Then perhaps my quarterly performance "kudos" might reflect my performance. Yes? And then, once the "snapshot" is recorded in the books, it is good for what, another three months? Ladies and gentlemen, think this through carefully. Because if any of this rings true, then one conclusion we can draw from yesterday's "price action" is that Freegold can't be very far away. What if yesterday's "dip" was not the result of a coordinated pounding, but from the abrupt and unexpected absence of certain "giant" "longs"? Why did paper gold hold its own all through June -- at or near its ALL TIME NOMINAL HIGH -- only to drop off a small cliff on July 1st as if one of its main support pillars called in sick for the day? Were the "commercials" REALLY just waiting to turn the calendar page before pounding the snot out of gold? Or were certain "giant" LONGS propping up PAPER GOLD to book important numbers... on an important day? And if so, what does this imply about the real PHYSICAL prospects for the paper gold market going forward? As long as the "paper gold" price is imputed widely to all pieces of real physical gold held tightly in vaults, it is fairly important to certain... how shall I say... published reports? Yes? The timing of yesterday's "attack" on gold is most auspicious for physical gold. Notice I didn't say suspicious, but auspicious! What do you think about yesterday's gold action? Please tell me in the comments below. Happy 4th to everyone! Have a great weekend and please be safe and sane! Sincerely, FOFOA And from July 7, 2010 5:33 PM: Eurosystem gold reserves climb by 65.4 billion euros Jul 7th, 2010 13:30 by RS In the consolidated financial statement of the Eurosystem released today by the ECB for the week ended Friday July 2nd, the numbers therein capture the latest mark-to-market quarterly revaluation of assets. With no material transactions
Load more

Recommended publications
  • The Internet and Drug Markets
    INSIGHTS EN ISSN THE INTERNET AND DRUG MARKETS 2314-9264 The internet and drug markets 21 The internet and drug markets EMCDDA project group Jane Mounteney, Alessandra Bo and Alberto Oteo 21 Legal notice This publication of the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) is protected by copyright. The EMCDDA accepts no responsibility or liability for any consequences arising from the use of the data contained in this document. The contents of this publication do not necessarily reflect the official opinions of the EMCDDA’s partners, any EU Member State or any agency or institution of the European Union. Europe Direct is a service to help you find answers to your questions about the European Union Freephone number (*): 00 800 6 7 8 9 10 11 (*) The information given is free, as are most calls (though some operators, phone boxes or hotels may charge you). More information on the European Union is available on the internet (http://europa.eu). Luxembourg: Publications Office of the European Union, 2016 ISBN: 978-92-9168-841-8 doi:10.2810/324608 © European Monitoring Centre for Drugs and Drug Addiction, 2016 Reproduction is authorised provided the source is acknowledged. This publication should be referenced as: European Monitoring Centre for Drugs and Drug Addiction (2016), The internet and drug markets, EMCDDA Insights 21, Publications Office of the European Union, Luxembourg. References to chapters in this publication should include, where relevant, references to the authors of each chapter, together with a reference to the wider publication. For example: Mounteney, J., Oteo, A. and Griffiths, P.
    [Show full text]
  • Overview of Crypto Currency`S Role in India
    www.ijemr.net ISSN (ONLINE): 2250-0758, ISSN (PRINT): 2394-6962 Volume-8, Issue-1 February 2018 International Journal of Engineering and Management Research Page Number: 105-110 Overview of Crypto Currency`s Role in India Dr. R. Chandrasekaran1 and K. Anitha2 1Assistant Professor, Department of Management, Dr. N.G.P Arts and Science College, Coimbatore, INDIA 2Assistant Professor, Department of Commerce (Finance), Dr. N.G.P Arts and Science College, Coimbatore, INDIA 1Corresponding Author: [email protected] ABSTRACT Bitcoin Cryptocurrencies are digital assets that Bitcoin is a globalcrypto currency and digital use cryptography, an encryption technique, for security. payment system noted to be the first decentralized digital Cryptocurrencies are primarily used to buy and sell goods currency, as the system works lacking a central source or and services, though some newer cryptocurrencies also single overseer. It was developed by an unidentified person function to provide a set of rules or obligations for its or a set of people under the name Satoshi Nakamoto and holders—something we will discuss later. They possess no intrinsic value in that they are not redeemable for another released as open-source software in 2009.The arrangement commodity, such as gold. Unlike traditional currency, they is peer-to-peer, and dealings take place between users are not issued by a central authority and are not considered straight, without an midway. These transactions are legal tender. confirmed by network bulges and recorded in a public circulatedjournal called a block chain. Keywords-- Bitcoin, Cryptocurrency, Zebpay Bitcoins are formed as a recompense for a procedure known as mining.
    [Show full text]
  • Creation and Resilience of Decentralized Brands: Bitcoin & The
    Creation and Resilience of Decentralized Brands: Bitcoin & the Blockchain Syeda Mariam Humayun A dissertation submitted to the Faculty of Graduate Studies in partial fulfillment of the requirements for the degree of Doctor of Philosophy Graduate Program in Administration Schulich School of Business York University Toronto, Ontario March 2019 © Syeda Mariam Humayun 2019 Abstract: This dissertation is based on a longitudinal ethnographic and netnographic study of the Bitcoin and broader Blockchain community. The data is drawn from 38 in-depth interviews and 200+ informal interviews, plus archival news media sources, netnography, and participant observation conducted in multiple cities: Toronto, Amsterdam, Berlin, Miami, New York, Prague, San Francisco, Cancun, Boston/Cambridge, and Tokyo. Participation at Bitcoin/Blockchain conferences included: Consensus Conference New York, North American Bitcoin Conference, Satoshi Roundtable Cancun, MIT Business of Blockchain, and Scaling Bitcoin Tokyo. The research fieldwork was conducted between 2014-2018. The dissertation is structured as three papers: - “Satoshi is Dead. Long Live Satoshi.” The Curious Case of Bitcoin: This paper focuses on the myth of anonymity and how by remaining anonymous, Satoshi Nakamoto, was able to leave his creation open to widespread adoption. - Tracing the United Nodes of Bitcoin: This paper examines the intersection of religiosity, technology, and money in the Bitcoin community. - Our Brand Is Crisis: Creation and Resilience of Decentralized Brands – Bitcoin & the Blockchain: Drawing on ecological resilience framework as a conceptual metaphor this paper maps how various stabilizing and destabilizing forces in the Bitcoin ecosystem helped in the evolution of a decentralized brand and promulgated more mainstreaming of the Bitcoin brand. ii Dedication: To my younger brother, Umer.
    [Show full text]
  • Geraszimov-Doktrína – Egy Másik Megvilágításban
    KATONAI NEMZETBIZTONSÁGI SZOLGÁLAT XVI. évfolyam 3–4. szám FELDERÍTŐ SZEMLE ALAPÍTVA: 2002 BUDAPEST 2017 A Katonai Nemzetbiztonsági Szolgálat tudományos-szakmai folyóirata Felelős kiadó Kovács József altábornagy, főigazgató Szerkesztőbizottság Elnök: Dr. Béres János vezérőrnagy Tagok: Dezső Sándor vezérőrnagy Dr. Magyar István ny. dandártábornok Dr. Tömösváry Zsigmond ny. dandártábornok Deák Anita alezredes Dr. Fürjes János alezredes Háry Szabolcs ezredes Dr. Magyar Sándor ezredes Dr. Tóth Sándor alezredes Dr. Vida Csaba alezredes Felelős szerkesztő: Deák Anita alezredes Olvasószerkesztő: Gál Csaba ny. ezredes Tördelőszerkesztő: Tóth Krisztina tzls. HU ISSN 1588-242X TARTALOM BIZTONSÁGPOLITIKA HOLECZ JÓZSEF ALEZREDES A GERASZIMOV-DOKTRÍNA – EGY MÁSIK MEGVILÁGÍTÁSBAN ...................................................... 5 BERTALAN DÁVID OGY. ALEZREDES A BIZTONSÁGI SZEKTOR SPECIÁLIS VONÁSAI .......................... 28 MEZŐ ANDRÁS ALEZREDES A DOKTRÍNAFEJLESZTÉS NEMZETKÖZI TAPASZTALATAI ... 45 HEGYI ÁGNES SZÁZADOS TERRORIZMUS A SZÁHEL-ÖVEZETBEN ....................................... 74 DR. GERENCSÉR ÁRPÁD KÖZÉP-ÁZSIAI SZÉLSŐSÉGES MOZGALMAK MEGJELENÉSI FORMÁI ÉS JELENTŐSÉGE .................................. 87 HÍRSZERZÉS – FELDERÍTÉS KOÓS GÁBOR NY. ALEZREDES – PROF. DR. SZTERNÁK GYÖRGY NY. EZREDES A FEGYVERES KÜZDELEM JELLEMZŐI KUTATÁSÁNAK FONTOSSÁGA, A HÍRSZERZÉS ÉS A FELDERÍTÉS JELENTŐSÉGE ..................... 97 DR. VIDA CSABA ALEZREDES AZ ELEMZŐ-ÉRTÉKELŐ MUNKA TERMÉKEI – NEMZETBIZTONSÁGI TÁJÉKOZTATÓK KÉSZÍTÉSE .............. 112
    [Show full text]
  • A Regulatory and Economic Perplexity: Bitcoin Needs Just a Bit of Regulation
    Washington University Journal of Law & Policy Volume 47 Intellectual Property: From Biodiversity to Technical Standards 2015 A Regulatory and Economic Perplexity: Bitcoin Needs Just a Bit of Regulation Daniela Sonderegger Washington University School of Law Follow this and additional works at: https://openscholarship.wustl.edu/law_journal_law_policy Part of the Banking and Finance Law Commons, and the Business Law, Public Responsibility, and Ethics Commons Recommended Citation Daniela Sonderegger, A Regulatory and Economic Perplexity: Bitcoin Needs Just a Bit of Regulation, 47 WASH. U. J. L. & POL’Y 175 (2015), https://openscholarship.wustl.edu/law_journal_law_policy/vol47/iss1/14 This Note is brought to you for free and open access by the Law School at Washington University Open Scholarship. It has been accepted for inclusion in Washington University Journal of Law & Policy by an authorized administrator of Washington University Open Scholarship. For more information, please contact [email protected]. A Regulatory and Economic Perplexity: Bitcoin Needs Just a Bit of Regulation Daniela Sonderegger [T]here is something special about Bitcoin that makes it inherently resistant to government control. It is built on code. It lives in the cloud. It is globalized and detached from the nation state, has no own institutional owner, operates peer to peer, and its transactions are inherently pseudonymous. It cannot be regulated in the same way as the stock market, government currency markets, insurance, or other financial sectors. —Jeffrey Tucker1 INTRODUCTION Set aside all of the legal and regulatory parameters and simply take a moment to imagine a world that functions on a single digitalized currency, regulated not by a central authority, but rather by the individual users who take part in the system.
    [Show full text]
  • Blockchain and The
    NOTES ACKNOWLEDGMENTS INDEX Notes Introduction 1. The manifesto dates back to 1988. See Timothy May, “The Crypto Anarchist Manifesto” (1992), https:// www . activism . net / cypherpunk / crypto - anarchy . html. 2. Ibid. 3. Ibid. 4. Ibid. 5. Ibid. 6. Timothy May, “Crypto Anarchy and Virtual Communities” (1994), http:// groups . csail . mit . edu / mac / classes / 6 . 805 / articles / crypto / cypherpunks / may - virtual - comm . html. 7. Ibid. 8. For example, as we wi ll describe in more detail in Chapter 1, the Bitcoin blockchain is currently stored on over 6,000 computers in eighty- nine jurisdictions. See “Global Bitcoin Node Distribution,” Bitnodes, 21 . co, https:// bitnodes . 21 . co / . Another large blockchain- based network, Ethereum, has over 12,000 nodes, also scattered across the globe. See Ethernodes, https:// www . ethernodes . org / network / 1. 9. See note 8. 10. Some blockchains are not publicly accessible (for more on this, see Chapter 1). These blockchains are referred to as “private blockchains” and are not the focus of this book. 11. See Chapter 1. 12. The Eu ro pean Securities and Market Authority, “Discussion Paper: The Dis- tributed Ledger Technology Applied to Securities Markets,” ESMA / 2016 / 773, June 2, 2016: at 17, https:// www . esma . europa . eu / sites / default / files / library / 2016 - 773 _ dp _ dlt . pdf. 213 214 NOTES TO PAGES 5–13 13. The phenomena of order without law also has been described in other con- texts, most notably by Robert Ellickson in his seminal work Order without Law (Cambridge, MA: Harvard University Press, 1994). 14. Joel Reidenberg has used the term “lex informatica” to describe rules imple- mented by centralized operators online.
    [Show full text]
  • (15-17 May 2014), Passenger Terminal Amsterdam
    Bitcoin2014 - Building the Digital Economy (15-17 May 2014), Passenger Terminal Amsterdam Thursday 15th May 12:15pm - 2:30pm - 3:10pm- Time 9:00am - 9:30am 9:30am - 10:30am 10:30am - 10:45am 10:45am - 12pm 12:00pm - 1:00pm 1:00pm 2:00pm - 2:30pm 3pm 2:40pm - 3:10pm 3:30pm 3:30pm - 4:30pm 4:30pm - 5:00pm 5:00 - 5:30PM 5:30 - 6:00PM 6:00 - 6:30PM 6:30 - 7.30PM 7.30 - 8.30PM 8:30-10:30PM INTERNATIONAL Bitcoin Foundation Projects AFFILIATE SUMMIT (O7 - Welcome and and International Affiliate New Affiliate IAS invite only) Introductions Program IAS Coffee Updates International Community Breakouts Building a Global Community Lunch 10:45am - Time 11:00am 11:00am - 12:00pm 12:00pm - 12:15pm 5pm - 8pm REGISTRATION AND EXHIBITS OPEN 5pm onwards Correspondents Reception (Invite only): IJ Welcome Reception: 6:00pm - 8:00pm, Upper deck, PTA (Sponsor: Circle) Sunset Cruise (Invite Only): 7:30pm - 10:30pm (BitPay in Friday 16th May association with iAmsterdam) PTA Main Deck Keynote Address: Dr Patrick Byrne, CEO, Overstock.com Blockchain Awards Refreshment Sponsor: Gridseed Time 9:00am start Main Deck (PTA) 5:30pm - 6:30pm Hosted by Nic Cary, Jon Matonis (Bitcoin Foundation) Blockchain.info and Jinyoung Lee Englund, Bitcoin Speakers and Patrick Byrne (Overstock) Foundation Panel: The race to be your mobile 10 min Coffee Feature Presenter wallet Lunch break Feature Presenter break Panel: What's the Buzz around Bitcoin ATM's? Panel: Global Pioneers of Bitcoin 1:00pm - 2:30pm - 3:10pm - Time 11:30am - 12pm 12:00pm - 1:00pm 2:00pm 2:00pm - 2:30pm 2:40pm
    [Show full text]
  • “The Man Who Really Built Bitcoin: Who Cares About Satoshi Nakamoto
    “The Man Who Really Built Bitcoin: Who cares about Satoshi Nakamoto? Someone else has made Bitcoin what it is and has the most power over its destiny” by Tom Simonite, August 15, 2014 [source: http://www.technologyreview.com/featuredstory/527051/the-man-who-really-built-bitcoin/] WHY IT MATTERS The 13 million bitcoins in existence are worth more than $7 billion. In March, a bewildered retired man faced journalists yelling questions about virtual currency outside his suburban home in Temple City, California. Dorian Nakamoto, 64, had been identified by Newsweek as the person who masterminded Bitcoin—a story that, like previous attempts to unmask its pseudonymous inventor, Satoshi Nakamoto, was soon discredited. Meanwhile, the person arguably most responsible for enabling the currency to swell in value to $7.7 billion, and with the most influence on its future, was hiding in plain sight on the other side of the country, in Amherst, Massachusetts. That person is Gavin Andresen, a mild-mannered 48-year-old picked by the real Satoshi Nakamoto, whoever he or she is, as his successor in late 2010. Andresen became “core maintainer”—chief developer—of the open source code that defines the rules of Bitcoin and provides the software needed to make use of it. The combination of Nakamoto’s blessing and Andresen’s years of diligent, full-time work on the Bitcoin code has given him significant clout in Bitcoin circles and stature beyond. The CIA and Washington regulators have looked to him to explain the currency. And it was Andresen who conceived of the nonprofit Bitcoin Foundation—established in 2012—which is the closest thing to a central authority in the world of Bitcoin.
    [Show full text]
  • Bitcoin, the End of the Taboo on Money D.J
    Bitcoin, the end of the Taboo on Money D.J. Roio Bitcoin, the end of the Taboo on Money Denis Jaromil Roio, Planetary Collegium Ph.D. candidate, M-Node 6 April 2013, version 1.0 Abstract: Bitcoin is a decentralized system of digital authentication that facilitates the circulation of value on the Internet without the presence of any intermediaries, a characteristic that has often gained it the definition of “digital cash” or “crypto currency”, since it can be used as money for payments. This article consists in a technoetic inquiry into the origins of this technology and its evolution. This inquiry will take in consideration the biopolitical dynamics that govern the Bitcoin community as well specific characteristics of the technical realization, aiming to provide insights on the future of this technology as well a post-humanist interpretation of its emergence. Keywords: Bitcoin, Crypto, Currency, Digital, Network, Community, Technoetic Contents 1 Acknowledgments 2 2 Introduction 3 3 Origins 3 4 Memorable events 4 5 Innovation 5 5.1 Networked computing . 5 5.2 Why mining . 6 5.3 Accounting science . 6 6 Community 8 7 Passion 10 8 Glory 12 9 Popularity 14 10 Conclusion 15 11 Contributor details 16 12 References 17 Dyne.org Digital Press – 1 – 6 April 2013 Bitcoin, the end of the Taboo on Money D.J. Roio 1 Acknowledgments Bitcoin, the end of the Taboo on Money from the DYNDY.net article series © 2013 Dyne.org Digital Press E-mail: <[email protected]> Author: Denis Roio aka Jaromil Peer reviewed by: Christian Nold, Susanne Jaschko, Debra Solomon, Marco Sachy, Amir Taaki Revisions: - 6 April 2013 - first public edition The original source of distribution for this article, also providing its most up to date version, is the Internet website http://jaromil.dyne.org/writings This content is licensed as Creative Commons "BY-NC-SA" 3.0 in the jurisdiction of the Netherlands: it is free to be copied, republished for non-commercial use, quoted and remixed by providing correct attribution to its author(s), while all derivative works must adopt the same license.
    [Show full text]
  • Dot-Bip Whitepaper
    DOT-BIP WHITEPAPER a/k/a Proposal for implementing Dot-Bip decentralized DNS to create distributed, difficult-to-censor DNS-type function over the BipCoin cryptocurrency blockchain while solving all the problems that kept Namecoin from becoming adopted as anything other than a speculative commodity SUMMARY: We are going to make something that is so difficult to censor, someone could use it to say horrible, untrue things about us and there's no way that even we could take it down. We believe this is the truest definition of actual free speech. Several systems have attempted to do this. The one that came closest was Namecoin. But Namecoin was never used by more than a couple dozen websites for censor-proof DNS. We plan to create something that will get wide scale adoption. That's the key to truly keeping speech free. Dot-Bit Whitepaper v1.2 1/8/2017 Indiegogo fundraiser: https://igg.me/at/dotbip This document and the software and processes it describes are covered by the BipCot NoGov License. This allows use and re-use with attribution by anyone except governments and government agents. http://bipcot.org/ Whitepaper written by MWD. First draft was published on Nov 25, 2016. [email protected] https://bipcoin.org/ 1 Abstract: Background: "DNS" is the method by which website names (like "google.com") are registered and can then be used by everyone to get to a particular website. This registration system is monopolized worldwide by a US Government-controlled organization. Thus domains can be censored and seized by simply rerouting them.
    [Show full text]
  • Blockchain, Cryptocurrency and Vulnerability to Money Laundering, Terrorist Financing and Tax Evasion
    THOMSON REUTERS Risks and rewards: Blockchain, cryptocurrency and vulnerability to money laundering, terrorist financing and tax evasion By Alma Angotti and Anne Marie Minogue, Navigant Consulting Inc. NOVEMBER 26, 2018 While blockchain technology offers transactional advantages, CRYPTOCURRENCY not everyone welcomes the opportunity it offers to transact Cryptocurrency is “a math-based, decentralized convertible in cryptocurrency. In fact, Warren Buffett, CEO of Berkshire virtual currency that is protected by cryptography.”6 Bitcoin, Hathaway, warns: “Stay away from it. It’s a mirage, basically. launched in 2009, was the first cryptocurrency to capture the In terms of cryptocurrencies, generally, I can say almost with public’s attention. It is estimated that as of May 2018, there were 1 certainty that they will come to a bad ending.” over 17 million bitcoins in circulation.7 Perhaps Buffett has misgivings about cryptocurrency because he knows that nefarious individuals can exploit blockchain’s features Regulators recognize the need to create clear and exchange cryptocurrencies to launder money, finance terrorist activity, evade taxes and make prohibited purchases. legislation to protect against the criminal use of Law enforcement is pursuing prosecution of individuals who cryptocurrency exchanged on the blockchain and transact in cryptocurrency in concert with illegal activity. to ensure it is used only for lawful activities. Regulators recognize the need to create clear legislation to protect against the criminal use of cryptocurrency exchanged on For the purposes of this discussion, cryptocurrency describes a the blockchain and to ensure it is used only for lawful activities. digital asset transacted on a blockchain, including those referred It is anticipated that regulators, law enforcement and the to as virtual currency, digital currency or cryptocurrency.
    [Show full text]
  • HOW to POSITION for the RALLY in BITCOIN November 2015
    HOW TO POSITION FOR THE RALLY IN BITCOIN November 2015 INTRODUCTION Bitcoin technology represents a new frontier for investors. The network has been called ‘The New Internet,’ the currency has been called ‘Gold 2.0,’ and the technological revolution that propels it has been compared with the “I really like Bitcoin. combustion engine and the Internet revolution. I own bitcoins.” Since it started trading on July 16, 2010, the Bitcoin currency has risen in DAVID MARCUS, value by an average of 900% per year—even including the recent 18 month EX-PRESIDENT OF PAYPAL bear market. The market is extremely volatile and dynamic, which means profit opportunities abound. For the investor, however, Bitcoin serves as much more than a speculative vehicle. When properly understood, this technology can act as a unique insurance policy against an increasingly unstable financial system, as a countercyclical hedge in your speculative portfolio, or, for the risk-tolerant investor, as a rational bet on an early retirement. “Bitcoin is a technological tour de force.” In this comprehensive report, we aim to provide answers to these invest- ment questions: BILL GATES • Why should I care about Bitcoin as an investment? • What are the best ways to buy and safely store bitcoins? • Is Bitcoin the AltaVista of cryptocurrencies, or the Google? • How do I devise a solid allocation strategy? I’m excited to share this free introductory report with you. Enjoy the ride! Tuur Demeester 1 HOW TO POSITION FOR THE NEXT RALLY IN BITCOIN TABLE OF CONTENTS AS AN INVESTOR, WHY DO
    [Show full text]