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Chamath Palihapitiya, the owner of the $2.6 bln NBA team Golden State Warriors, recently stated that Bitcoin is the ultimate insurance policy against autocracy and currency curbs.

Bitcoin is a unique store of value, settlement network and digital currency in the sense that it offers absolute financial freedom and independence to its users. Within Bitcoin’s peer-to-peer network, users can send each other transactions or payments with the absence of intermediaries and third party service providers.

Palihapitiya described Bitcoin as the insurance policy against autocracy, or a government with absolute power, and currency curbs because of its decentralized nature. Central entities or authorities can’t possibly censor, restrict, manipulate and control the Bitcoin network.

For this reason, to prevent Bitcoin moving over to the over-the-counter (OTC) market that is arguably much harder to oversee and surveil, governments were forced to adopt and regulate Bitcoin against their will. Regulated or not people will still use Bitcoin. With regulatory frameworks, however, Anti-Money Laundering (AML) and Know Your Customer (KYC) policies can be used to the advantage of the government to identify Bitcoin users.

However, the emergence of privacy-focused two layer solutions such as TumbleBit could potentially offer complete financial privacy to users because it can obscure both inputs and outputs to render Bitcoin transactions anonymous.
Bitcoin as insurance policy against currency curbs

Over the past year and a half, since early 2016, high profile and institutional investors have begun to perceive Bitcoin as a safe haven asset or digital gold. Hence, investors in China, the US and Japan have begun to rely on Bitcoin to protect themselves against abrupt financial troubles or currency curbs, essentially using Bitcoin as a wealth management product (WMP).

Such reliance and dependence on Bitcoin has led to a surge in the demand for Bitcoin and granted Bitcoin another identity apart from its primary identity of digital currency and digital cash. This was outlined by Bitcoin creator Satoshi Nakamoto in the Bitcoin white paper.

Palihapitiya also commented on the comparison between digital asset Ethereum and Bitcoin, when he was asked why he personally prefers Bitcoin over Ethereum.
Quote:
“Coke v Pepsi. Pick the more mainstream option that more people can easily consume. Both will make money but bigger is always better.”
Simply put, Palihapitiya explained that Bitcoin has the resources and market to achieve mainstream adoption ahead of Ethereum.

Read More Read More, Posted by: halfgray
[Image: Screen-Shot-2017-04-03-at-3.54.57-PM.png][Image: silk-road-desert-e1493754277138.jpg]

Marco Santori is a FinTech lawyer based in New York City where he leads the blockchain tech team at Cooley LLP.

In this latest edition of CoinDesk's "Bitcoin Milestones" series, Santori discusses the downfall of the notorious bitcoin-powered dark market Silk Road in fall 2013, and the lasting impact this had on the technology's perception and his practice.

I still kick myself for failing to buy a single item on Silk Road.

Yes, I'm a lawyer, and, yes, I'm a square. Yes, most of its wares exceeded my risk tolerance. Still, the Silk Road era was a rarified moment in history, and I was too busy warning people about money transmission to even buy a pair of alpaca socks.

In fairness to myself, it was still the early days – the summer of 2013. A bitcoin could be had for about a hundred US dollars. Things were simpler then. Ethereum didn't exist. Nobody was talking about the legality of token sales.

I had just returned from a trip to Washington, DC, where, together with other members of the Bitcoin Foundation, we had the first multilateral meetings with the federal government on cryptocurrency.

It had been quite a party. FinCEN, IRS, FBI, DEA, SEC, CFPB, CFTC… just about any agency with a potential interest in magical internet money was there to hear us explain it to them. None were believers. In fact, the vibe in the room was clear: bitcoin is for criminals, and these apologists think they're going to change our minds.

This 'bitcoin is for criminals' narrative may not have started with the Silk Road, but it was certainly buoyed by it.

The marketplace was accessible only via the so-called 'dark web', an anonymous network that required specialized software to use. Once accessed, you could buy anything. Drugs, porn, fake driver's licenses… so long as you paid in bitcoin.

It was the first, and, at the time, the only one of its kind. As the Silk Road grew in popularity, so did recognition that bitcoin could be used for illicit activity, and so did the government's interest in it.

So, the government shut Silk Road down.

The hammer

It happened in October of 2013, just a couple of months after our grand defense of bitcoin to the very federal agencies that gave the order.

I can't say just where I heard the news first, but the reports hit almost at once: posts on social media, emails from clients, calls for comment from the press, communications from the Bitcoin Foundation's PR team.

In many of their voices, I heard an unmistakable tinge of panic – the kind of panic usually endemic to tense depositions or bet-the-company litigations – but the only bitcoiner arrested was Ross Ulbricht, the dark market's alleged (and convicted) operator.

The rest of the bitcoin citizenry was panicked because they were stakeholders in all of it.

Bitcoin was the lifeblood of the Silk Road.

The shock

At the Bitcoin Foundation, we scrambled to develop messaging. At my law practice, we worked to gauge client exposure and risk. Was crypto prohibition on the horizon? Would bitcoin be deemed contraband?

Would the government classify our clients – bitcoin businesses – as entities of primary money laundering concern? If so, an entire industry would be blacklisted from the global financial system...

Once news broke, the media speculated widely that bitcoin transaction volumes would drop to near zero, and that bitcoin prices would do the same. After all, bitcoin was for criminals, the narrative went, and now that the greatest criminal use for bitcoins was gone, what was bitcoin good for?

At the time, we could only speculate. A systemic limitation of a permissionless, pseudonymous network is a lack of data on the intent of its users. We could only guess how much of bitcoin was tied to Silk Road.

Many of us, even if privately, guessed that it was a lot.

We were wrong. When we finally looked back on the numbers, volume didn't drop. It soared. Price did fall, but almost immediately recovered and blew past its pre-Silk Road heights. It was astounding.

Damage control

One of our public messaging points at the Bitcoin Foundation was the story that bitcoin was a currency with a heart of gold, now freed from unjust association with dark markets.

Its value and its volume were now demonstrably independent from its greatest suspected criminal use, we said. From the beginning, the 'bitcoin is for criminals' narrative had to be fiction.

And we were right. Still, this wasn't the whole story. The whole story was a great deal more complex because, almost immediately, dozens of Silk Road copycats begun to spring up.

Within a year, there were plenty of dark markets using bitcoin. Some were even using new, more privacy-focused digital currencies that were opaque to forensics and post-hoc analysis.

Yet, we also started to see transaction volumes in developing countries start to climb significantly for the first time. People were using bitcoin to improve their lives. Word was getting out that there was an alternative to runaway inflation and fiscal mismanagement inherent in some government money.

It just so happened to get out to criminals quicker than it did to most everyone else.

Lasting impact

Still, Silk Road showed us that bitcoin could be used for criminal transactions just as well as legitimate transactions.

Its shuttering showed us the criminal uses of bitcoin were probably much more limited than anyone – even most bitcoiners – suspected. Silk Road changed the way we thought about money. It changed the way we thought about anonymity. It was a rarified moment in history, the effects of which transformed an industry.

It changed so much about my government outreach work and my practice of law. But at the time, I couldn't even work up the courage to log on and buy some alpaca socks.

I still kick myself.

Read More Read More, Posted by: halfgray
   
you know currently, DASH if compared to all the other coin is VERY CHEAP right?
its going to JUMP at any moments, 
to HIGHEST HI 0.11584 BTC 

i would suggest BUY NOW..!! if you don't want to miss any train
   

Read More Read More, Posted by: san2ok
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Bitcoin sailed past the $1,500 mark on Thursday, pushing the total value of the digital-currency market above $40 billion for the first time.
Litecoin, another prominent bitcoin rival, advanced 22% to $25, its highest level in more than three years, after Coinbase, one of the most popular digital-currency exchanges in the U.S., enabled trading in the cryptocurrency.

The top 14 most heavily traded digital currencies have all realized astounding gains over the past month as investors who have booked large profits trading bitcoin and rival Ethereum have sought to diversify and increase their chances of cashing in on the next big cryptocurrency rally, according to Chris Dannen, founder of Iterative Instinct a New York-based cryptocurrency venture fund.

“Not only are the smaller coins obscure and cheap, but they represent a chance to get those huge returns all over again,” Dannen said.

The price of a single bitcoin BTCUSD, -1.00%  has more than tripled since the beginning of 2016, when it traded around $450. It peaked at $1,589 on Thursday, according to the CoinDesk bitcoin price index. One ether token traded at $90.95. Dash, the fifth most popular token, traded at $96.

Bitcoin’s advance has coincided with its growing acceptance by regulators. A law passed by Japanese lawmakers earlier this year that allows financial institutions to participate in the digital-currency market took effect in April.

Also, regulators in Russia and India have signaled their willingness to legalize bitcoin and its peers.
However, bitcoin trading volume in China, once its largest market, plunged after authorities forced the largest exchanges in the country to institute transaction fees and halt withdrawals until they could upgrade their anti-money-laundering systems. New rules require exchanges based in China to verify customers’ identities.

In March, the Securities and Exchange Commission rejected two proposals that would have led to the creation of bitcoin-focused exchange-traded funds. But the decision elicited only a brief dip in the bitcoin price.

The SEC has since said it would review its March 10 decision that effectively killed the Winklevoss Bitcoin Trust. Grayscale’s proposal to allow its Grayscale Bitcoin Investment Trust to begin trading on the New York Stock Exchange’s ETF platform is currently being reviewed, but a decision isn’t imminent.

The value of cryptocurrencies, however, have varied dramatically between exchanges, prompting Charles Hayter, the chief executive officer and founder of Cryptocompare, to worry about a possible pullback.

On Bitfinex, one of the largest digital currency exchanges in the world, customers paid a $100 premium as they scrambled to move their assets off its platform. The exchange announced two weeks ago that it would temporarily suspend dollar withdrawals after it was effectively cut off from the financial system.

“Cryptos have hit a period of volatility as the markets have become dislocated. Prices on exchanges are showing huge discrepancies in terms of pricing and arbitrage is rife,” Hayter said.

Read More Read More, Posted by: halfgray
i am very happy because stellar / lumen is back [Image: hore.gif]

Read More Read More, Posted by: asopiandi
Great video i think many should watch.

In this talk "Blockchain vs. Bullshit - Thoughts on the Future of Money," Andreas outlines the necessary criteria that will help you distinguish blockchains from bullshit, and why the goal of developing this technology should not be "banking the unbanked" but rather de-banking all of us.




Read More Read More, Posted by: Trebaltek
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Jim Harper is a vice president at the Competitive Enterprise Institute. A former counsel to committees in both the US House of Representatives and the US Senate, he served as Global Policy Counsel for the Bitcoin Foundation in 2014.

In this opinion piece, Harper discusses the longstanding developer conflicts that have come to define bitcoin's governance, arguing that just because there haven't been any results yet, doesn't mean there won't be.

Two years ago today, politics invaded the world of bitcoin development. It's been non-stop controversy ever since.

But Gavin Andresen's essay series, "Time to Roll Out Bigger Blocks," didn't introduce politics to bitcoin. And the cure for what ails its highl
controversial development ecosystem isn't getting rid of politics.

Bitcoin actually needs more and better politics. How bitcoin politics are practiced is up to the community, which might take some lessons from principles of good government.

When Andresen 'went public' with his arguments for bigger blocks, that was the result of political failings on all sides that long predated his writing.

Put simply, there are many competing visions for bitcoin's optimal uses, its future, the risks it faces and how to manage them. While minor improvements to the code continue, nobody so far has been a good enough politician to get their broader vision for bitcoin widely adopted.

So, what gets people to abide by difficult group decisions, even when the decisions go against them?

Lessons from government

The US Constitution requires 'due process' in both the Fifth Amendment and the Fourteenth Amendment. That means that US citizens and residents are supposed to get fairness of two types from their governments:

  1. Systems designed to produce correct answers

  2. The right to participate in decisions that affect them.
Elections operate along the same lines, giving everyone, including the losers, a say in who will operate the government. Bitcoin is meant, in part, to help people escape the grasps of hugely fallible governments, of course.

But, you might ask, isn't bitcoin an apolitical system that resists governance?

Governance and government are not the same. Every human system, including bitcoin, has governance. Bitcoin governance is whatever influences or directs the community's decision-making and the software's many encoded policies.

Bitcoin is also inherently political. Politics is essentially human relations at scale. When politics are practiced well, we don't notice it. It's politics done poorly, or running against our interests, that we speak ill of, along with the politicians who practice it.

With a few noisy exceptions on the social media margins, everyone involved in bitcoin protocol and software development is a good faith actor. So, why are their efforts to move forward drawing heaps of derision and failing to advance their visions? It may be the failure to respond to the demand for due process.

Theory of open-source

Bitcoin is a category buster, so let's talk about due process in terms of economics.

In theory, markets work because a large number of buyers and sellers have perfect information, products are homogeneous, transaction costs are low or non-existent and everyone is rational. In practice, buyers and sellers are under-informed, transaction costs are often high and the decision-making of humans is driven away from correct choices by psychological, social, cognitive and emotional factors.

There's a 'perfect markets' theory for open-source software development, too, and it especially fails with respect to bitcoin.

It holds that developers will perfectly perceive the needs of the community and respond to them, that miners will clearly recognize their economic interests and act in accordance with them, that bitcoin users will all oversee this process well, guiding the other sectors of the bitcoin ecosystem toward its highest and best use.

It turns out that everyone isn't an expert in coding, in economics and in perceiving their own interests in an uncertain cryptocurrency future.

Miners and users don't follow the 'perfect governance' script very well themselves, but bitcoin development seems to diverge from theory the most. Developers, it turns out, are humans, who have limited time, information and capacity for cognition. Nobody could incorporate the information necessary to advance the bitcoin project consistent with all the goals held for it across the ecosystem. These fascinating 'developer-humans' exhibit human behaviors like trusting people they know and discounting information from people they don't know.

That's no basis for criticizing any developer, of course, but the leading development team, Bitcoin 'Core' sometimes seems to speak with a unified voice, and sometimes seems to vanish behind the theory that open-source development is just uncoordinated people from which coding decisions emerge.

The solution

In a system with worldwide usage and strong network effects, that makes a lot of people feel they are being denied due process. A lot of people feel they aren't getting a say in a project they feel passionate about. It's easy, despite the fact of good faith all around, to fall into thinking that the process is not designed to produce a correct outcome.

As a congressional staffer in the 1990s, I participated in a meeting where some academics suggested what the future of telecommunications regulation would look like. "Bits – everything will be bits," they said. The direction of communications technology was obvious already, and perpetuating its regulation was not my preferred goal.

But, the meeting was bemusing because in Congress, knowing the right answer is 10% of the problem or less. Getting people convinced of the right answer is the other 90%.
There are many right answers for bitcoin's future. Perhaps, if there were more bitcoin politics, more people could be brought on board with one or more of them.

Read More Read More, Posted by: halfgray
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On Friday, Bitcoin has added over $1 bln to its market cap, repeating the pattern of recent days.
Since the month started, its market cap had risen by an average of $1 bln per day for the past five days according to CoinMarketCap moving from about $21 bln on May 1 to $26 bln on May 5.
Whether this is sustainable would be determined by the market in the coming days. Thus, it falls within the premise of the discussion that the Bitcoin market is still small, its potential is huge and it has a long a way to go in terms of reach and adoption.
Recent comments by some industry insiders support this viewpoint.

84,12 and three months
Bruce Fenton, host of the Satoshi Roundtable and a board member of the Bitcoin Foundation, recently made a tweet that puts the uptake of the entire cryptocurrency market cap into a somewhat meaningful perspective.
Bruce Fenton‏ writes:
Quote:“It took seven years for the value of all cryptocurrency to hit $10 bln, another year to hit $20 bln and three more months to hit $40 bln.”
Can it become worthless in a day? Fenton’s point is to draw attention to the market’s trend which could establish that its growth rate is becoming exponential. This is particularly interesting considering that the entire market was able to gain about $5 bln in the past week alone.

Bitcoin Price $1,500 “isn't cool”
It leads to the view shared by the investor Trace Mayer,‏ who, in reference to an interview he had granted in 2013, touched on the view that the Bitcoin market could grow more. In the video, Mayer laid out his case for Bitcoin to reach $2.8 mln per unit at some point tipping the price range at the time - $800 and $1,200 - as being at the initial stage of price discovery.
His latest tweet, however, coming in the wake of the recent rise of the digital currency over $1,500, was tagged to his 2013 claim. It suggests that the current price of over $1,500 “isn't cool” but a $2 mln to $5 mln price range for a Bitcoin actually is.

Hard part passed
In another twist, another Bitcoin crusader, Charlie Shrem, adds that the rise of Bitcoin price from $0 to $1,500 seems a lot harder to him than getting from $1,500 to $150,000.

Read More Read More, Posted by: halfgray
[Image: Bitcoin%20Founder]

Criminals who use the virtual currency known as Bitcoin can be convicted of money laundering under a Florida law passed by lawmakers late on Friday.

Both houses approved the bill, which now heads to the desk of Gov. Rick Scott for approval.

Lawmakers approved the measure after a Miami judge last year threw out the criminal case against a man accused of selling $1,500 worth of bitcoins he was told was to be used to purchase stolen credit-card numbers online.

“Cyber criminals have taken advantage of our antiquated laws for too long,” said House Rep. Jose Felix Diaz, R-Miami, who sponsored the bill. “Bitcoin bypasses the traditional banking system, and our state’s laws simply had not caught up to the upsurge in criminality in the world of cybercurrency.”

The bill was crafted with help from Miami-Dade cyber-crime prosecutors.

The law, if it goes into effect, adds clarity to how police go after criminals who use virtual currencies to further illegal activities, or disguise ill-gotten money. Nevertheless, Bitcoin advocates said the new law will have a chilling effect on the use of the virtual currency.

Charles Evans, a Barry University economist and virtual currency expert, has long maintained Bitcoin — which is not backed by any government authority — is not actually money but nothing more than “poker chips” bought and sold by users, particularly in areas where banking systems are weak.

He criticized Friday’s passage of the bill.
“Before long, we might see coat checks, tickets to Disney World, and discount coupons regulated as money in Florida,” Evans said.
Authorities across the United States have struggled to figure out how laws apply to Bitcoin, which allows some users to spend money anonymously and can also be bought and sold on exchanges with U.S. dollars and other currencies.

Digital currencies allow people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit-card issuers or other third parties.

Regulated services such as CoinBase, which operates similarly to PayPal, allow people to buy, sell and use bitcoins. But law-enforcement has raised concerns about the currency — which can be bought and sold through private users — being used in underworld markets.

Bitcoins can be used to buy legitimate goods and services through websites and even in brick-and-mortal shops and restaurants.

But the currency has also been used to traffic drugs, most notoriously through the Silk Road “dark web” online network. In another prominent example, a South Florida man was sentenced to 10 years in prison after using bitcoins to buy Chinese-made synthetic heroin.

Police say human traffickers and prostitutes have also used Bitcoin to buy ads on Backpage.com, the classified website known as a hub for the sex trade.

Under current Florida law, money laundering can apply to host of financial transactions designed to hide funds earned through criminal activity, or further that activity. That includes bank deposits, wire transfers and even investments.

If the governor signs the law, “virtual currency” will be added to the definition of “monetary instruments” covered under Florida's Money Laundering Act, which would then be defined as a “medium of exchange in electronic or digital format that is not a coin or currency of the United States or any other country.”

Prosecutors believed the law was needed after a Miami-Dade judge threw out the case against Michel Espinoza, a website designer who was charged with illegally transmitting and laundering $1,500 worth of bitcoins.

His defense team challenged the prosecution, arguing that Bitcoin is not actually money under Florida law.

At a hearing in May 2016, they told a judge that no central government or bank backs Bitcoin, like the United States does the dollar. Government regulation of Bitcoin remains a messy hodgepodge from state to state, country to country and the IRS considers Bitcoin deals no more than bartering, Evans testified.

Evans, who was paid $3,000 worth of bitcoins for his testimony in Espinoza’s case, likened the currency to nothing more than “poker chips that people are willing to buy from you.”

Circuit Judge Teresa Mary Pooler agreed, saying “this court is unwilling to punish a man for selling his property to another, when his actions fall under a statute that is so vaguely written that even legal professionals have difficulty finding a singular meaning,” she wrote

Read More Read More, Posted by: halfgray
is ecliptic.co are good exchanger, I found them out a couple of day ago and I don't know if I can trust them

Read More Read More, Posted by: kennice8
Hi Guys,

theres a lot of very interesting projects and high potential coins out there at the moment. Lots of them are believed to get very big in the next few months. Here's a list of some coins on my radar

- POSW
- Ark
- INSN
- Ripple
- Edgeless
- Stellar


Which coin do you believe in and why? Discuss :)

Read More Read More, Posted by: gweig
   
   

anyone dare to bet against me?  my prediction, it will go up to 52780 satoshi  Angry

how much you are willing to bet?
please  place your bets and transfers your stake at 
Quote:GDOC5MCV6I5I6TGUZSOVG44TSW7GYAZPDFAZWZLH2WOBMPUSQVHJ3DYD 

YOU MUST SCREENSHOTS your proof of transfer !! and PM me 

note= 40000satoshi to 35000satoshi are considered a DRAW



Quote:minimum bet are 100XLM/person, maximum bet are 5,000XLM/person
 

Read More Read More, Posted by: Forum IT
   
Demo2coinigy said DONT PANIC..  

Read More Read More, Posted by: amimail
I'm looking to incorporate stellar payments for digital music downloads on my site at http://www.trebaltek.ca as we do with other cryptos, but at the moment the only way is through coinpayments and i can only accept alt-coins currently added on their site. At any point, do you guys plan on getting on https://www.coinpayments.net? or is there anything being developed or has been developed i could incorporate stellar payments for digital music downloads, or anything for merchants to accept payments through website?

Also to add another question.

How would one stake coins? Do you guys have (poi) or (pos) or will you?
Do you guys have a wallet or building one i could put on my computer based off the account viewer, version?
i like it and simple, but it needs a few more functions and memo, my first time using the wallet and seeing memo section,it almost made me sell all of my stellar, because i couldn't figure out how to send back to the exchange if i wanted to send it back, then later realizing 'memo text' was 'destination tag',i couldnt find that no where , it took me two days on the reddit forum to get a reply to know that, when it says "what is a memo text", simply something stating that it is the "destination tag" section to not cause confusion like it did for me. i had a friend use it and got so confused with memo section, she didnt want stellar no more and sold it back for Nem. Best wallets on the market i think is Nems nano wallet ive found so far, so much to do in it and so simple and i can harvest free nem by locking up and not touching so many.

Will you guys be developing something like this soon or am i just not searching hard enough or is stellar going down a different road?
Hopefully im not to far off topic in this thread, but i figured would be the best place to ask the developers .

Read More Read More, Posted by: Trebaltek
eQuid is the best coin. Buy a lot now! Don't miss!

Read More Read More, Posted by: eQuidLove

FINANCE with a MISSION to FIGHT POVERTY


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