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Showing posts with label online transactions. Show all posts
Showing posts with label online transactions. Show all posts

Monday, June 13, 2011

Saturday, June 11, 2011

Bitcoin Triples Again

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Image Source: Bitcoinme.com
Jack Hough
Smart Money

The online currency has minted off-line millionaires. But for how long?

The world's fastest-gaining currency has tripled in price again. Last week, SmartMoney reported that the Bitcoin had exploded from an exchange rate near zero to more than $10 in about a year, making it one of the top-returning assets of any kind. On Wednesday the currency topped $30.

If returns like those seem otherworldly, perhaps its because Bitcoin is a world unto itself. To recap, it's is a purely online currency with no intrinsic value; its worth is based solely on the willingness of holders and merchants to accept it in trade. In that respect, it's not so different from fiat currencies like the dollar or Euro, but whereas governments back such money, Bitcoins lack central control.

In another way, the appeal of the Bitcoin echoes the appeal of gold. Instead of a central bank, a computer algorithm dictates their supply. Today there are six million Bitcoins, a number that will grow at a steadily slowing rate until it approaches 21 million, but no more. As with gold, some see such limited supply as built-in protection against inflation that could result from runaway government budget deficits. Gold, of course, has been a store of value for thousands of years and has at least some industrial use, whereas Bitcoins are brand new and exist only on the Internet.

For some early adopters, Bitcoins have turned from a hobby into a windfall. MtGox.com, the main exchange for users swapping Bitcoins for dollars and other currencies, charges buyers and sellers a fee of 0.65% for its brokerage service. (The name stands for Magic the Gathering Online Exchange, but the Bitcoin dabbler who bought the domain didn't bother to change it.) As recently as a few months ago, the site generated just pennies a day in income. By Wednesday it was making more than $40,000 a day.

Read Full Article

RELATED ARTICLE:
Bitcoin: Decentralized Underground Barter Economy

RELATED VIDEO:
Max Keiser: Bitcoin is the Resistance Currency



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Thursday, June 9, 2011

What Will Collapse First, Bitcoin or the Dollar?

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Source: BitcoinMe.com
Silver Shield
Don't Tread On Me

I have been inundated with all of this talk about Bitcoin. I first stumbled upon it a few months ago and made a snap judgement that is smells like BS and looked no further into it. Now that I have been asked by multiple sources to either endorse it or ask my opinion on it, I looked into it further. What I found makes me believe this is another Elite concoction designed to fool people.

When Wikileaks first came on the scene, I immediately fell for it hook, line and sinker. In theory it sounded awesome. Secretive hackers created a site that allow secrets to be revealed while keeping the whistle blower’s identity safe. It had a multilayer protection that would prevent it from being shut down. It even had a cool James Bond character in Julian Assange, that made the story so intriguing. The longer the story played out, the more I became concerned that this was an elaborate scam. (Read: Beware of Patriot Pied Pipers) After a while, my suspicions we confirmed. (Read: Wikileaks: CoIntelPro PsyOp) Now that I look into Bitcoin, the same suspicions arise again. It has all of the elements of a great freedom idea. It has  decentralization, open source, peer to peer, privacy, and debt free money. The more I look into it, the more it reeks like a high level scam.  In this hour long YouTube video there is an interview with two leaders of Bitcoin, Gavin Andresen and Amir Taaki.

Senators seek crackdown on "Bitcoin" currency

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Source: BitcoinMe.com
Brett Wolf
Reuters

Two senators are pressing federal authorities to crack down on an online black market and "untraceable" digital currency known as Bitcoins after reports that they are used to buy illegal drugs anonymously.

Democratic Senators Charles Schumer of New York and Joe Manchin of West Virginia wrote to Attorney General Eric Holder and Drug Enforcement Administration head Michele Leonhart in a letter that expressed concerns about the underground website "Silk Road" and the use of Bitcoins to make purchases there.

The letter prompted a discussion among Bitcoin enthusiasts about whether the government was capable of closing related bank accounts and thereby stifling the currency.

The senators released a copy of their letter on Monday. It cites recent media reports that some tech-savvy individuals were using an "anonymizing network" known as Tor to gain clandestine access to Silk Road and buy illegal drugs. 

Read Full Article 

RELATED ARTICLE:
Bitcoin: New Decentralized Currency 



RELATED VIDEO:
Bitcoin: Currency of Resistance



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Friday, June 3, 2011

New Decentralized Currency Stimulating Underground Barter Economy

New grassroots cyber currency, the Bitcoin, may provide the perfect vehicle to operate outside the establishment economy and snub the all-powerful banking cartels -- it's decentralized, quasi-anonymous, and its supply is regulated by an algorithm to actually create deflation over time.


Source: BitcoinMe.com
Eric Blair
Activist Post

The masses are beginning to understand that the greatest threat to human freedom is the international banking cartel and their debt-based monetary system. Together with governments, they squash any manifestation of a free marketplace and personal freedom. Between runaway money printing, corporate cartel control, subsidies and taxes, and regulations and fees; the free market is nothing more than an ideology -- for now. 

As the "Too Big to Fail" private banks consolidate even further with the help of their central baking partners and government puppets, it would seem that they form an all-powerful cartel.  They force us to use their monopoly money to pay for all necessary goods and services.  They track every economic transaction to plunder as much manufactured taxes and fees as possible.  Income taxes are extracted to prop up the debt-based system, the Wall Street casino, the domestic surveillance prison, and endless wars. And on top of that, the consumer is ravaged by increasing inflation.  Indeed, the system smashes personal and economic freedom.

Wednesday, April 13, 2011

US senators introduce online privacy 'bill of rights'

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Editor's Note: Nice headline, but we don't trust these two senators as far as we can throw them. Guaranteed the bill is flawed or full of loopholes.

AFP file image
AFP

WASHINGTON (AFP) - US senators John Kerry and John McCain introduced an online privacy bill Tuesday that seeks to strike a balance between protecting the personal information of Web users and the needs of businesses to conduct electronic commerce.

The former Democratic and Republican presidential candidates said the bipartisan legislation would require companies gathering data to allow a consumer to "opt-out" of having their information collected.

"Protecting Americans' personal, private information is vital to making the Information Age everything it should be," said Kerry, the Democrat from Massachusetts who lost the 2004 White House race to George W. Bush.
Jasper Roberts Consulting - Widget