Monthly Archives: February 2014

Notice Sent To RBI Demanding Clarity On Bitcoin Law In India

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“In the letter, Venugopal Badarawada threatens to approach the court if the bank fails to act within a month. He has asked the RBI to come up with a clear policy framework for regulating crypto currencies in India within a reasonable time, by immediately setting up a committee of experts from relevant fields such as information technology, finance law, economics, foreign trade and exchange etc.  Badarawada points out that the RBI has not made any statement whatsoever explaining under which provision of law the usage of a virtual currency is illegal. There is also a serious concern as to what aspects of FEMA apply to buying and selling of virtual currencies.”

http://www.medianama.com/2014/01/223-rbi-legal-bitcoin-india/

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Bitcoins and bars: Chicagoans getting in on virtual currency

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“About 40 people gathered on a sub-zero day in early January to eat pizza and drink beer at Atlas Brewery in Lincoln Park. Most of them left without paying a dime.  It was a trial run for the brewery to accept Bitcoin, a digital currency that’s an alternative to cash and credit. At the end of the night, the final tab for food and beer came out to 0.5960 bitcoin (or BTC, the standard abbreviation for bitcoin), the equivalent of about $500 cash given the exchange rate at the time. It was an event organized by Jonathan Solomon, a 28-year-old entrepreneur who has joined the ranks of Bitcoin advocates trying to cash in on the new digital currency.”

http://www.redeyechicago.com/news/redeye-chicago-establishments-accepting-bitcoin-20140130,0,4724378.story

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Can Bitcoin Save the Postal Service?

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“The U.S. Postal Service Inspector General’s office is looking at disruptive technologies to bolster the finances of the nation’s ailing post offices. The latest idea? Jump on the Bitcoin bandwagon.  Possibilities include putting Bitcoin ATMs in some of the 35,000 post offices around the country or offering electronic wallets – either virtual or physical – where people could store their Bitcoins. The agency wouldn’t be involved in the technical side of Bitcoin, yet could be a brick-and-mortar stop for the authentication or redemption of the virtual currency.”

http://go.bloomberg.com/political-capital/2014-01-31/can-bitcoin-save-the-postal-service/

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Overstock CEO Reveals He Now Holds Millions in Bitcoin

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“Speaking to investors during Overstock.com’s fourth-quarter earnings call on 30th January, CEO Patrick Byrne revealed he now holds ‘several million dollars’ in bitcoin, having recently invested in the currency.  The outspoken exec further freed his company to hold bitcoin on the call, stating that it is ‘no longer bound’ by previous restrictions.  Notably, Byrne echoed statements made by executive vice president Jonathan Johnson at the New York Department of Financial Services (NYDFS) hearings this week, saying that Overstock is exploring ways to pay employees, suppliers and vendors in cryptocurrency.”

http://www.coindesk.com/overstock-ceo-holds-millions-bitcoin/

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Obama unveils new retirement savings plan: ‘MyRA’

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“Obama said he would direct the Treasury Department to create new ‘MyRA’ accounts to allow people to more simply invest in Treasury bonds.  The MyRA bond would be like a Roth IRA: Your contributions would not be tax-deductible, but your earnings would be free from tax when you withdraw it. As with a Roth, your contributions can be taken out tax-free at any time.  Employers who offer the option won’t have to administer them. And if they automatically enroll employees — which they won’t be required to do — those employees will have a greater chance of accumulating retirement savings.”

http://www.usatoday.com/story/news/2014/01/28/obama-state-of-the-union-myra-savings-plan/4992743/

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Coca-Capitulation

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“‘In an entirely voluntary move,’ Coca-Cola announced that it would ‘cease all worldwide marketing efforts to children under 12, put calorie counts on all packaging and labeling and ensure that low-calorie and no-calorie … beverages are available in every nation on earth where Coca-Cola is sold.’  The political assault on Coca-Cola is usually described in terms of health paladins using power to restrain an unscrupulous corporation. Whatever the truth of that narrative, food politics is also a brutal attack upon consumers who end up forcibly being ‘protected’ from their own choices.”

http://www.fee.org/the_freeman/detail/coca-capitulation

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The drug revolution that no one can stop

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“Technology and drugs have always existed in an easy symbiosis: the first thing ever bought and sold across the Internet was a bag of marijuana. In 1971 or 1972, students at Stanford University’s Artificial Intelligence Laboratory used ARPANET—the earliest iteration of the Internet—to arrange a marijuana deal with their counterparts at the Massachusetts Institute of Technology.  That groundbreaking deal connected two teams of people who were separated by a 45-hour drive east-west across the entire continent. Today, buying drugs online is far easier and faster—and in many cases, you don’t even have to break the law.”

https://medium.com/matter/19f753fb15e0

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Washington, Colorado have few ways to stop carry-on weed

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“Among the many oddities that have arisen from marijuana legalization in Washington and Colorado is this: It can be easier to get through airport security with a bag of weed than a bottle of water.  At Washington’s airports, including Seattle-Tacoma International, there’s nothing police can do to prevent travelers from flying with pot in their carry-on or checked luggage, provided it doesn’t exceed the state legal limit of one ounce. Instead, airport officials say, officers simply recommend that travelers leave it in their cars, toss it or have a friend pick it up.”

http://nypost.com/2014/01/30/washington-colorado-have-few-ways-to-stop-carry-on-weed/

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Ex-Port Authority Official Says Christie Knew About Lane Closings

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“The former Port Authority official who personally oversaw the lane closings at the George Washington Bridge, central to the scandal now swirling around Gov. Chris Christie of New Jersey, said on Friday that ‘evidence exists’ the governor knew about the lane closings when they were happening.  The bridge scandal erupted in early January, when documents emerged revealing that a deputy chief of staff to the governor, Bridget Anne Kelly, had sent an email to Mr. Wildstein saying, ‘Time for some traffic problems in Fort Lee,’ the town at the New Jersey end of the bridge, where Mr. Christie’s aides had pursued but failed to receive an endorsement from the mayor, who is a Democrat.”

http://www.nytimes.com/2014/02/01/nyregion/christie-bridge.html

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Mass hack attack on Yahoo Mail accounts prompts password reset

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“Attackers behind the cracking campaign used usernames and passwords that were probably collected from a compromised database belonging to an unidentified third party, according to Jay Rossiter, Yahoo senior vice president of platforms and personalization products.  Yahoo administrators are resetting passwords for all affected accounts. Administrators are also using second sign-in verification to let users resecure their accounts. World of Warcraft, vBulletin, MacRumors, and Adobe are only a tiny sampling of the sites recently hit by attacks that exposed password data. There are many more attacks that go unreported or that can’t be linked to a particular site or service.”

http://arstechnica.com/security/2014/01/mass-hack-attack-on-yahoo-mail-accounts-prompts-password-reset/

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