Tag Archives: Money

Bill Bonner: A Monumental Change in the World’s Monetary System

Posted on by

Bill-Bonner2

“The Chinese economy is still growing twice as fast as the US. Both are delusional figures, of course. Buying things with money you don’t have makes you no better off than making things for people who can’t pay for them.  But the delusion is only part of the story. The other part: China is poor and getting wealthier. The US is rich and getting poorer. Somewhere they will battle it out… maybe in the marketplace… maybe in a hot war. And someday the upstart (if not China, then someone else) will win.  In the meantime, Chinese stocks are in bargain territory. You can get a dollar’s worth of Made in China stock market earnings for just $7.  Each dollar of US earnings will set you back closer to $20.”

http://www.bonnerandpartners.com/a-monumental-change-in-the-worlds-monetary-system/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Pot sales of $5 million in five days and no place to put the money

Posted on by

“The inability of marijuana businesses to straight-forwardly stash their cash in standard financial institutions due to federal banking regulations aimed at stopping drug trafficking has been an issue in Colorado for years. But despite Obama administration statements about possible fixes and a request from Governor John Hickenlooper more than three months ago, nothing has been done. Now, however, with the recreational pot biz reportedly taking in more than $5 million in the first five days of sales, the Denver City Council unanimously passed a proclamation calling for the feds to rewrite banking regs to allow for state-legal weed operations to use banks like any other business.”

http://blogs.westword.com/latestword/2014/01/pot_sales_denver_5_million_five_days.php

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Could a Civil War-Era Law Stamp Out Bitcoin?

Posted on by

“This 152-year-old law forbids any American from issuing a check, note, or token that’s worth less than $1, and Bitcoin might just fall into that category, according to a report from the Congressional Research Service.  The Stamp Act was written during the dark days of the Civil War, when inflation had pushed the value of the metal in coins above their official denomination. That put a serious pinch on the change supply in the United States, one that began to be filled by companies that issued their own paper versions of dimes and nickels, called ‘shinplasters.’  To stamp out competitors, it introduced 18 U.S.C. §336, the Stamp Payments Act of 1862. Violators face fines and up to six months in jail.”

http://www.wired.com/wiredenterprise/2014/01/stampact/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

How more than $100 billion in secret cash was smuggled into China

Posted on by

“Something funny is happening at the Hong Kong border.  Every month, billions of dollars worth of exports simply disappear on their way out of China, but they’re not vanishing into a wormhole. They never existed in the first place. In the first half of 2013 alone, nearly $100 billion sneaked into China in the form of faked export invoices, according to research by non-profit Global Financial Integrity.  Every time China reports a bounce-back in exports, some read it as a sign of a ‘soft landing,’ or that the economy is recovering from its increasingly wobbly state. GFI’s report is another reminder that Chinese trade data can’t be trusted as a sign of what’s really going on in its economy.”

http://qz.com/164743/how-more-than-100-billion-in-secret-cash-was-smuggled-into-china-last-year/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Chilean Nightclub to Pioneer Bitcoin in Latin America

Posted on by

“California Cantina in Santiago will become the first restaurant in Chile, and the first nightclub in all of Latin America, to accept bitcoins.  Officially launching on January 8, the restaurant will be a bitcoin ‘pioneer’ for Latin America. The club has received significant interest on social media regarding the restaurant’s decision to accept the digital currency, in addition to Chilean pesos.  The restaurant will utilize an application developed by Coin4ce, the most prominent company for buying and selling bitcoins in Chile. The application will allow patrons to make purchases through their smartphones, by scanning QR codes generated by restaurant iPads that facilitate the process.”

http://panampost.com/joel-fensch/2014/01/07/nightclub-chile-bitcoin-pioneer-latin-america/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

The Easiest Way to Turn Your Dollars Into Crypto Cash

Posted on by

“This is Lamassu’s bitcoin ATM machine. It lets you insert money, and receive bitcoin in return. It’s a brutally easy way to turn your dollars or yen or just about any other currency into crypto cash.  It works like this: You hit start on the touchscreen, and scan in a QR code from a bitcoin wallet on your phone. The machine confirms your address in screen, and you feed bills in the front side. Seconds later, bitcoin appears in your wallet. It’s magical.  Lamassu says it’s sold 130 machines so far to vendors in 25 cities. They’re already up and running in Finland, Slovakia, and Australia. Operators can set it up for whatever currency they want — the bill validator is made by JCM.”

http://www.wired.com/gadgetlab/2014/01/lamassu-bitcoin-atm-ces/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Bitcoin Tops $1,000 Again as Zynga Accepts Virtual Money

Posted on by

“Bitcoins first crossed the $1,000 threshold in late November and reached a record at $1,238 on Mt.Gox on Dec. 4, then plummeted to as low as $640 after China’s largest online market for the virtual currency stopped accepting deposits. The digital currency has rebounded as more merchants accept Bitcoins for everything from Gummi bears to smartphones on the Internet. Zynga is the latest merchant to accept Bitcoins, which can be used to buy virtual items in games.  Players will be able to pay via the BitPay payments service for players of ‘FarmVille 2’, ‘CastleVille’ and other games, Zynga said.”

http://www.bloomberg.com/news/2014-01-05/bitcoin-tops-1-000-again-on-adoption-by-zynga-amid-wider-usage.html

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Overstock CEO: Why we’re accepting bitcoins

Posted on by

“First, the business reasons: There are large numbers of holders of bitcoin who are eager to patronize firms that will accept this form of payment, but so far, their options have been limited. I believe that by being the first major online retailer to accept bitcoin, we will tap into a significant group of loyal consumers, and as a result our share of the overall market will grow.  In addition, the cost of carrying out credit-card transactions is roughly 2 percent. Given that our net margin is also approaching 2 percent, the avoidance of such fees will make bitcoin sales that much more profitable.”

http://www.cnbc.com/id/101315433

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Meet the traveling Bitcoin ATM

Posted on by

“Lamassu started as a Bitcoin security company, but pivoted into building these virtual coin dispensers. The company has shipped about 130 machines in multiple countries from Canada to Kyrgyzstan. The operator collects the cash once it’s set up, just like an ATM. The machines cost $5,000 apiece, with discounts for bulk orders.  Founder-brothers Zach and Josh Harvey attend a lot of trade shows and media events these days, lugging the 100-pound machine around in a heavy-duty padded box. The Harveys came to Las Vegas to present at a startup event at CES. We caught up with Zach, who is CEO, in order to demonstrate the machine and talk about the state of the Bitcoin economy.”

http://www.theverge.com/2014/1/8/5286960/lamassu-bitcoin-atm-zach-harvey

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Bitcoins use by tea trade brought to notice of Ministry, board

Posted on by

“In the winter session, several Members of Parliament raised questions about the use of the Bitcoin instrument by a section of small and specialised tea growers to sell their produce abroad. They wanted to know if the Government was aware of such practices, and if so, was it contemplating any action.  The Bitcoin instrument helps the exporter and the importer of tea clinch a deal directly without any middleman. The transaction can be completed within a few minutes and weekly holidays, bank holidays or strikes do not stand in the way of concluding the deal. Also, payments can be received from anywhere in the world without any bank transfer or the use of debit or credit cards.”

http://www.thehindubusinessline.com/industry-and-economy/agri-biz/bitcoins-use-by-tea-trade-brought-to-notice-of-ministry-board/article5541416.ece

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet