Tag Archives: Clueless

Robert Shiller: Bitcoin Is An Amazing Example Of A Bubble

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“Nobel Laureate economist Robert Shiller is on a panel at Davos about digital trends in financial markets. Almost immediately he started talking about Bitcoin.  As a currency he says it’s a return to the dark ages.  Shiller is a student and expert in the nature of bubbles, and he’s adamant that Bitcoin is one. Says Shiller: ‘It is a bubble, there is no question about it. … It’s just an amazing example of a bubble.’  He added that he’s ‘amazed by how people are so excited about it’ and that he tells his students that ‘No, it’s not such a great idea.'”

http://www.businessinsider.com/robert-shiller-bitcoin-2014-1

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A Crackdown On Browsers

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“It would have taken O’Donovan five minutes of reading Wikipedia to, if not have a clear picture of what was going on, at least know better than to write what he did. The computer-machines seem to be a strange focal point of governmental cluelessness; while TDs writing on other subjects are hardly perfect, you’re not going to get James Reilly writing a piece advocating the use of radium to cure The Humours, or something, nor will you find Alan Shatter extolling the virtues of the Freeman on the Land philosophy. This isn’t the first time, though, that a TD has spouted complete nonsense about computers. It makes it all the worse that O’Donovan is on the Communications Committee.”

http://www.broadsheet.ie/2014/01/15/a-crackdown-on-browsers/

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Irish TD wants tougher controls of online currencies such as Bitcoin

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“A Fine Gael TD has called for more controls on anonymous internet payments made possible by digital currencies such as Bitcoin and Dogecoin.  Patrick O’Donovan has written to the Oireachtas Communications Committee asking them to investigate the matter which he says has led to an ‘online supermarket’ for illegal activity.  The Limerick TD has also said that he will also raise the issue in the Dáil with both the Ministers for Justice and Communication ‘with a view to seek assurances that an EU-wide response is developed to respond to the operation of open-source internet browsers which protect anonymity in order to facilitate illegal online activity’.”

http://www.thejournal.ie/bitcoin-ireland-1264791-Jan2014/

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San Francisco to charge operators of tech commuter buses

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“Employee shuttle buses for Silicon Valley technology and Peninsula biotech firms, which have become a symbol of income disparity in San Francisco, will soon be charged for using public bus stops, city officials said Monday.  The issue took on added urgency in recent weeks as tenant advocates and other protesters blocked Google buses in San Francisco and Oakland. In San Francisco’s Mission District last month, protesters blocked a bus carrying tech workers for about half an hour. Days later, demonstrators carrying a banner that read ‘F- off Google’ broke a window of a bus at the West Oakland BART Station.”

http://www.sfgate.com/bayarea/article/S-F-to-charge-operators-of-tech-commuter-buses-5118477.php

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Bloomberg Host Gifted Bitcoin On TV And It Immediately Got Stolen

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“Bloomberg TV’s Matt Miller is currently experiencing the ’12 Days Of Bitcoin,’ a series for the business news television station.  On Friday, Miller learned an important lesson. It was an experience that everyone should remember before they start moving their money into the digital currency.  While on air, Miller surprised Bloomberg anchors Adam Johnson and Trish Regan each with $20 worth of Bitcoin.  But as Johnson received the paper gift, he briefly exposed the QR code (see above). This act was effectively like sharing a bank account and PIN number.  Immediately, someone lifted the QR code and stole the $20.”

http://www.businessinsider.com/bloomberg-matt-miller-bitcoin-gift-stolen-2013-12

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Most Americans Don’t Know Bitcoin

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“Some Americans think Bitcoin is an Xbox game. Others think it might be an iPhone app. The majority have no idea it’s a virtual currency they can use to buy everything from T-shirts to Tesla Motors sedans, according to a Bloomberg National Poll.  Only 42 percent of Americans who responded to the Dec. 6-9 telephone survey correctly identified Bitcoin, which has gained more than 80-fold in value this year as its popularity expands.  Bitcoins, which exist as software and aren’t regulated by any country or banking authority, are accepted at businesses ranging from a Lamborghini dealership in Costa Mesa,California, to a Peruvian food truck in Washington.”

http://www.bloomberg.com/news/2013-12-12/most-americans-don-t-know-bitcoin-while-some-guess-xbox.html

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Bitcoin may threaten Kazakhstan’s financial stability: finance minister

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“‘People transfer this digital money to each other by just clicking a button — without having to use any bank services or pay remunerations for the transactions. The transfers are instant and almost completely free of charge. Imagine large corporations switching to cheap digital transactions, this would leave the bankers seeking another job,’ the Vice-Minister said.  The Bitcoin threat is now being studied now by the relevant committee of Finance Ministry of Kazakhstan. According to the Ministry, the means of payment is not covered by Kazakhstan’s law On counting legalization (laundering) of illegally obtained incomes and funding of terrorism.”

http://en.tengrinews.kz/finance/Bitcoin-may-threaten-Kazakhstans-financial-stability-Dalenov-24586/

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US fast-food workers strike over low wages in nationwide protests

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“As a large ‘Christmas Grinch’ ambled about in freezing temperatures, demonstrators chanted for the minimum wage to be increased to $15 per hour.  It was the first of nine strikes in Chicago, with employees at McDonalds, Wendy’s, Walgreens, Macy’s and Sears also due to walk off shift. Low wage workers were due to strike across 100 cities through the day, including Boston, Detroit, New York City, Oakland, Los Angeles and St Louis.  The president has suggested he would back a Senate measure to increase the minimum wage to $10.10. Obama had previously called for the wage to be increased in his State of the Union address in February.”

http://www.theguardian.com/world/2013/dec/05/fast-food-workers-strike-minimum-wage

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UK Tax Authority HMRC Rethinks Stance on Bitcoin

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“Last month, it was revealed that HMRC had decided to classify bitcoins as vouchers, which meant that VAT would be due on sales involving the digital currency.  Today, members of the UK bitcoin scene visited HMRC today to speak with the government department about cryptocurrency.  Robinson said: ‘We started off by explaining bitcoin to them – a lot of the meeting involved educating them about bitcoin and what it’s actually used for.’  He went on to say that the department, after hearing this, said it would withdraw its previous guidance about bitcoin being a type of voucher.”

http://www.coindesk.com/hrmc-decides-rethink-tax-stance-bitcoin/

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Everyone Is Baffled By Alan Greenspan’s Comment About Bitcoin

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“‘You really have to stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. But if you ask me, ‘Is this a bubble in Bitcoin?’ ‘Yeah, it’s a bubble.’  People are baffled by this remark.  That’s because Greenspan refused to call the housing bubble a bubble, and presided over the dot-com bubble despite seemingly having recognized it as such as far back as 1996, when he made his “irrational exuberance” speech.”

http://www.businessinsider.com/alan-greenspan-bitcoin-comment-reaction-2013-12

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