Bitcoin press hits, notable sources - page 12.

hazek

legendary

Activity: 1078

Merit: 1003

More accurate translation:

Quote

Do we already have a thread going where we could discuss this topic appropriately? Perhaps there's not much more to discuss, but maybe there is ... I definitely still don't quite understand the "regression theorem".

Maybe you could create a new thread just for this video so we can discuss it? What do you think?

molecular

donator

Activity: 2772

Merit: 1019

Quote from: lonelyminer (Peter Šurda) on February 19, 2012, 03:51:07 PM

Robert Murphy, a prominent economist of the Austrian School talks about Bitcoin in a youtube video: http://www.youtube.com/watch?v=wyUNdzLwte4&feature=player_detailpage#t=900s, between about 0:15:00 and 0:31:50. It's the most thorough treatment of the Mises' Regression Theorem with respect to Bitcoin from a professional economist that I know of (I've been thinking about this for months and my opinions are very close to those of professor Murphy). He mentioned Bitcoin in the past as well: http://www.youtube.com/watch?v=ZsciXd1EH50&feature=player_detailpage#t=1437s.

Just to explain where he's coming from, Professor Murphy as well as the rest of the Austrian School criticise the production of money through the central banking and government interference in money (e.g. legal tender laws), and most of them are sympathetic to money that has an inelastic supply and an economy with a falling price level (i.e. what colloquially is referred to as deflation). George Selgin (whose draft paper that refers to Bitcoin was published two weeks ago and was mentioned on the forum here: https://bitcointalksearch.org/topic/george-selgin-discusses-privatization-of-the-money-supply-based-on-bitcoin-62659) as well as Detlev Schlichter (who wrote about Bitcoin in June, mentioned here https://bitcointalksearch.org/topic/m.314375 and was at the Bitcoin converence in Prague) also belong to the Austrian School.

gibt's einen thread wo wir das passend dikutieren könnten? Ist vielleicht nicht viel dazu zu sagen, aber vielleicht doch... die Sache mit dem "Regression Theorem" ist mir jedenfalls nicht ganz klar.

Vielleicht könntest du nen thread machen für dieses video und dann diskutieren wir das? Was meinst du?

lonelyminer (Peter Šurda)

donator

Activity: 544

Merit: 500

Robert Murphy, a prominent economist of the Austrian School talks about Bitcoin in a youtube video: http://www.youtube.com/watch?v=wyUNdzLwte4&feature=player_detailpage#t=900s, between about 0:15:00 and 0:31:50. It's the most thorough treatment of the Mises' Regression Theorem with respect to Bitcoin from a professional economist that I know of (I've been thinking about this for months and my opinions are very close to those of professor Murphy). He mentioned Bitcoin in the past as well: http://www.youtube.com/watch?v=ZsciXd1EH50&feature=player_detailpage#t=1437s.

Just to explain where he's coming from, Professor Murphy as well as the rest of the Austrian School criticise the production of money through the central banking and government interference in money (e.g. legal tender laws), and most of them are sympathetic to money that has an inelastic supply and an economy with a falling price level (i.e. what colloquially is referred to as deflation). George Selgin (whose draft paper that refers to Bitcoin was published two weeks ago and was mentioned on the forum here: https://bitcointalksearch.org/topic/george-selgin-discusses-privatization-of-the-money-supply-based-on-bitcoin-62659) as well as Detlev Schlichter (who wrote about Bitcoin in June, mentioned here https://bitcointalksearch.org/topic/m.314375 and was at the Bitcoin conference in Prague) also belong to the Austrian School.

farfiman

legendary

Activity: 1449

Merit: 1001

Quote from: Technomage on February 18, 2012, 02:03:07 PM

[

"To get around stringent state regulations, Bitcoin firms might switch from acting as a floating exchange, which TradeHill was, to a fixed rate exchange, Matonis says.

Floating exchanges hold customer funds while they match buy and sell orders. In this sense, they act as financial institutions. Fixed rate exchanges do not. They simply buy and sell Bitcoins like a commodity. Such an exchange would be exempt from state money transmitter regulations, Matonis says."

We call that a "CHANGE" like you see in most countries (not us) on every street corner...

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: kiba on February 18, 2012, 03:43:09 PM

Quote

The process of registering with FinCen as a money services business, and of getting money transmitter licenses from the 43 states that require them, is time-consuming and costly, often running between $750,000 and $1 million.

Each or total?

And is that a one time fee or daily?

Spekulatius

legendary

Activity: 1022

Merit: 1000

I have no clue about US law making something illegal is one thing BUT is it even possible to prohibit US customers to send transfers to floating exchanges abroad and receive their payout (at least as BTC, so that they can then convert their coins back to USD via any fixed rate exchange)??

kiba

legendary

Activity: 980

Merit: 1020

Quote

The process of registering with FinCen as a money services business, and of getting money transmitter licenses from the 43 states that require them, is time-consuming and costly, often running between $750,000 and $1 million.

Each or total?

Technomage

legendary

Activity: 2184

Merit: 1056

Affordable Physical Bitcoins - Denarium.com

Quote from: istar on February 18, 2012, 01:13:24 PM

Bank technology News

Bitcoin Exchange's Crisis Bodes Ill for Payment Innovation

http://www.americanbanker.com/issues/177_34/bitcoin-tradehill-exchange-digital-currency-risks-licensing-1046795-1.html?pg=1

Quite well written article.

Indeed. This quote is interesting:

"To get around stringent state regulations, Bitcoin firms might switch from acting as a floating exchange, which TradeHill was, to a fixed rate exchange, Matonis says.

Floating exchanges hold customer funds while they match buy and sell orders. In this sense, they act as financial institutions. Fixed rate exchanges do not. They simply buy and sell Bitcoins like a commodity. Such an exchange would be exempt from state money transmitter regulations, Matonis says."

istar

hero member

Activity: 523

Merit: 500

Bank technology News

Bitcoin Exchange's Crisis Bodes Ill for Payment Innovation

http://www.americanbanker.com/issues/177_34/bitcoin-tradehill-exchange-digital-currency-risks-licensing-1046795-1.html?pg=1

Quite well written article.

Spekulatius

legendary

Activity: 1022

Merit: 1000

http://www.scpr.org/blogs/economy/2012/02/16/4697/bitcoin-idea-about-money-borrowed-future/

Just Matthew DeBord talking live on "the air show" about bitcoin

Spekulatius

legendary

Activity: 1022

Merit: 1000

http://www.businessweek.com/technology/bitcoin-exchange-shuttered-nerds-rattled-02172012.html

just a sum up of the ars technica article

Spekulatius

legendary

Activity: 1022

Merit: 1000

http://www.wired.co.uk/news/archive/2012-02/16/bitcoin-exchange-shuts

The ars technica article published on wired.co.uk

Technomage

legendary

Activity: 2184

Merit: 1056

Affordable Physical Bitcoins - Denarium.com

Slashdotted! By me, actually. Decided to act on the Ars Technica story and it worked. :-)

Major Bitcoin Exchange Ceases Operation

http://news.slashdot.org/story/12/02/15/1658248/major-bitcoin-exchange-ceases-operation

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: thomkaufmann on February 15, 2012, 10:42:16 AM

Major Bitcoin exchange shuts down, blaming regulation and loss of funds
http://arstechnica.com/tech-policy/news/2012/02/major-bitcoin-exchange-shuts-down-blaming-regulation-and-loss-of-funds.ars

And it looks like Timothy B. Lee has reversed hi opinion:

Quote

Disclosure: The author is long Bitcoithat'sns.

Well that's good news, Lee reversing his opinion. He won't regret that.

thomkaufmann

newbie

Activity: 51

Merit: 0

Major Bitcoin exchange shuts down, blaming regulation and loss of funds
http://arstechnica.com/tech-policy/news/2012/02/major-bitcoin-exchange-shuts-down-blaming-regulation-and-loss-of-funds.ars

And it looks like Timothy B. Lee has reversed his opinion:

Quote

Disclosure: The author is long Bitcoins.

thomkaufmann

newbie

Activity: 51

Merit: 0

Just a quick shout out:

Metal, code, flesh: Why we need a 'Rights of the Internet' declaration
www.aljazeera.com/indepth/opinion/2012/02/201228715322807.html

Quote

Thinking of the web in terms of machinic life is important in practice for three powerful reasons: First, it guides us through the building of political models that encompass the human and the non-human, a politics for radical yet peaceful diversity needed now more than ever. Second, it unveils the ethical dimensions beneath seemingly neutral issues, allowing stronger defence for issues such as sharing and peer-to-peer practices that depend on healthy protocols and healthy hardware. Third, it is an approach that operates at any scale, allowing us to have nuanced and yet consistent positions regardless of whether we are debating the microscopic labyrinths of a computer chip (metal), the intangible nature of the BitTorrent or Bitcoin protocols (code), or the global impact of WikiLeaks (flesh).

matonis

sr. member

Activity: 303

Merit: 251

From AVN: Paxum Ends Association with Bitcoin Exchanges by Tom Hymes (well-written)

"The virtual currency's volatility and uncertainty are the stated reasons why Paxum’s banking partners demanded the cessation of any association with Bitcoin."

PG Link: http://news.avn.com/articles/Paxum-Ends-Association-with-Bitcoin-Exchanges-464460.html

Over-18 Link: http://business.avn.com/articles/technology/Paxum-Ends-Association-with-Bitcoin-Exchanges-464460.html

Technomage

legendary

Activity: 2184

Merit: 1056

Affordable Physical Bitcoins - Denarium.com

http://www.thebitcointrader.com/2012/02/spend-your-bitcoins-at-16-st-louis.html

Surprising that there is pretty much nothing here about this yet. It's pretty big news.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

My favorite part is smaller.

Quote from: Atheros on February 13, 2012, 03:27:19 PM

...Ms. Blair wrote on Friday in the forum for adult site webmasters, GoFuckYourself.

Atheros

sr. member

Activity: 249

Merit: 251

MasterCard and Banking Partners Force Paxum to Drop Bitcoin Due to ‘Potential Risk’

My favorite excerpt:
" 'and on Friday our banking partners ended the discussions with us and stated that it was too much of a potential risk to continue doing business with Bitcoin and Bitcoin Exchangers and instructed us to close all Bitcoin-related accounts,' Ms. Blair wrote on Friday in the forum for adult site webmasters, GoFuckYourself."

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