Dec 22 – Given all the attention bitcoin is receiving these days, we thought it would be fun to re-air our 2012 interview with Jon Matonis, Founding Director of the Bitcoin Foundation, on why bitcoin is the future of money and...
Bitcoin attracts political idealists from the right, political idealists from the left, Silicon Valley technologists, social science academics, philosophers, capitalists, socialists, and even apolitical speculators.
Bitcoin is not permitted to exist because various governments are bitcoin-friendly or pledge to support innovation. Bitcoin exists today precisely because it is distributed and decentralized, designed to outlast political institutions.
With one firm swoop, banks could eliminate the threat from Apple, Google, and PayPal by embracing the new bitcoin cryptocurrency. Disruption doesn't always come from the outside but revolutions do form at the periphery which is precisely where Bitcoin sits today.
Oct 18 – Jim welcomes Jon Matonis, Executive Director of the nonprofit Bitcoin Foundation. Jon explains what bitcoin is and how it works. He also discusses the advantages of using bitcoin over currencies like dollars, euros, or yen.
Beyond the regulations and government approval that so frequently underpin discussions about the legitimacy of bitcoin, a different type of legitimacy is emerging and it has the ability to out-survive the elected administrations of legal jurisdictions.
Hosted at the palatial and temple-like SWIFT headquarters, this year’s TransConstellation Alumni conference featured a mix of panel representatives from both “new” payment approaches and “established” payment players.
Banks and even entire jurisdictions are feverishly responding to increased government scrutiny from the world's monetary power centers in the name of exposing political corruption, combating terrorism, and preventing tax evasion.
Once you get past the childish title, the recent bitcoin piece from Karl Denninger raises some issues that warrant consideration from bitcoin economists. Denninger is an intelligent student of the capital markets and his essay deserves a serious reply.
Largely affecting those banks outside of the U.S., the Foreign Account Tax Compliance Actrequires all foreign financial institutions to report the activities of their American clients to the Internal Revenue Service.
The rolling crisis in Cyprus should reach a crescendo this week. If the parliament votes yes on some type of deposit confiscation, it would mean the people of Cyprus have elected to go “all in” on the euro and link their fate with the fate of the single currency.
Any institution investing on behalf of its customers has a fiduciary duty to protect those assets from theft, data loss, and jurisdictional risk. Additionally, a succession plan must be in place that anticipates reliance on multiple parties and the distribution of that reliance.
Ever since the bitcoin cryptocurrency first launched and achieved initial success, institutional investors and hedge fund managers have secretly sought a regulated investment vehicle for bitcoin placements. Malta-based Exante Ltd. has the solution with their new Bitcoin Fund.
Reuters is reporting that a European Union court has ruled against the EU banking sanctions imposed on one of Iran's largest banks, which extends to the payment sanctions imposed by Swift in March of last year.
While this U.S.-centric plot would seem more plausible in a cryptographic flaw scenario, it does bring to light some interesting game theory strategies for both regulators and free market monetary proponents.
The State's nervousness with alternative money creation extends far beyond the lookalikes and the replicas. It goes to the heart of creating a new monetary system evidenced by the targeted shut down of systems that achieve significant market adoption or present an embarrassing dilemma.