“I reckon the big online retailers who would save a fortune by stripping seller and buyer fees – eBay and Amazon – will move first. Apparently there is already an entire trendy suburb in Berlin where you can more or less live on them already. That’s when the real difficulties start. Because for all the benefits, peer-to-peer currencies like this will almost certainly reduce the ability of central banks to manipulate the money supply, have significant implications for the tracking of illegal transactions, and may erode tax-raising powers. For at least some of those involved in the Bitcoin project, including the mysterious founder, that was the whole idea.”
Related posts:
China's rich fleeing the country—with their fortunes
Greek journalist in limbo over Swiss bank leaks
Connecticut becomes first state to pass legislation requiring genetically modified (GM) food labelin...
Removal of Berlin Wall temporarily halted due to protests
In Terrorism Fight, Government Finds a Surprising Ally: FedEx [2005]
AT&T paid for access to 4 billion call records a day for federal, local drug investigations
Tax havens explained: How the rich hide money
FBI: Border Patrol agent was likely killed by friendly fire
China's biggest jeweller sees gold in the masses
Man, 28, and stepdaughter, 21, not biologically related, face jail for incest
Mexican drug war claims innocent victims
Bitcoin has arrived in Vietnam
6-year-old Colorado girl in national spotlight over medical marijuana
Turkey becomes partner of China, Russia-led Shanghai Cooperation Organisation
Egypt targets social media, journalists with 'fake news' law