A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
So much misinformation from Italian leading newspaper REPUBBLICA! Today on the main page: "NY, Bitcoin files for controlled bankruptcy". The article refers to the World Bitcoin Association saying that this is the association that has released Bitcoin into the world.
The cost figure of $700 million to execute a 51% attack was tossed around in the NY bitcoin hearings... To JP Morgan that seems like pocket change if it means killing a superior competitor in its cradle.
I had previously been unconcerned with the threat of the 51% attack, because I thought the cost to do such a thing was prohibitive and then even still one who invested that much would rather earn bitcoins from mining than destroy the network by executing a 51% attack... I forget what made it jump into my head (might have been something the Winklevosses said), but during the hearings I thought that the incumbent banking industry would rather keep it's monetary cartel in tact than gain the income from bitcoin mining. So they could have the incentive to acquire the hardware to execute a 51% attack with the sole intention of destroying trust and use of the network. Plus the estimated cost of $700 million is less than JP Morgan pays in a single fine in any given year... I don't see it as a prohibitive expense for them considering the upside (for them) to the operation. Is there a reason this can't happen or is unlikely? (I hope I am missing something)
Voorhees vs Schiff: Bull Meets Bear at NY Bitcoin Debate https://goo.gl/j1jLZb - Crypto Insider Info - Whales's
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"Things that are hard to do with a credit card - buying a sick kid a $1 slice of pizza" – @alansilbert on #BitcoinPizzaDay efforts from NY Bitcoin Group
Reminder: Benjamin M. Lawsky promised that the NY bitcoin regulations would be released no later than May 31
End of May "at the latest." law360.com/articles/646017/lawsky-says-bitlicense-could-change-to-ease-compliance
New York Superintendent of Financial Services Benjamin M. Lawsky said that the final BitLicense would be release by the end of May “at the latest.”
It's holding up the launch of at least one service (Gemini). Possibly others. Bitlicense will come into effect January 2015 forexminute.com/bitcoin/nydfs-superintendent-benjamin-lawsky-resign-2015-49520
He previously stated January 2015 to be the month when BitLicense will come into effect.
Will resign in early 2015 insidebitcoins.com/news/nydfs-superintendent-lawsky-to-step-down-early-next-yea26217
The man who has been at the center of the bitcoin regulation firestorm is reported to be weeks from relinquishing his post. New York State Department of Financial Services Ben Lawsky will resign in early 2015, according to published reports. - Nov 10, 2014
That's an interesting coincidence. The Bitlicense was supposed to come into effect at the same time that he resigned. When his resignation was delayed until June 2015, the Bitlicense also happened to be delayed until June 2015. Why does Lawsky struggle so much with the truth?
and had dinner with a small group of people. Lot of bitcoiners/libertarians realized they were statists through long discussion with moi. Doin work, doing my part. I think I could physically see their brains twisting. I gotta say, I get better and better. Like a fine wine. Recently, I begin my discussions with a Larken Rose quote, as follows: "This is how this conversation is going to go. I am going to tell you, you need to be free. You are going to tell me you shouldn't."
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![Forvalter om ny bitcoin-teknologi: Kan bli en «game changer» [Lightning Network]](https://b.thumbs.redditmedia.com/ABfWFGVDOjMgEtAhDrbzT4Z9nFc4AMqi-8X0OyQ09pE.jpg "Forvalter om ny bitcoin-teknologi: Kan bli en «game changer» [Lightning Network]")
