BitBuzz Daily: A look at what's new in the world of bitcoin

Thursday 28 November 2013

It probably hasn’t escaped your attention that bitcoin has broken out and topped $1000. Of course it has ignited talk of bubbles and popping again. This short piece by Maureen Farrell in The Wall Street Journal looks at the impressive rally over the past two months and how bitcoin has jumped in value since 2010.

Bitcoin topped $1000 for the first time Wednesday morning. It’s the latest milestone in yet another epic rally for the four-year old virtual currency created a man or group of people going by the name Satoshi Nakamoto.

As of early 2010 was valued at just 4 cents, according to Mt. Gox. That’s a 2,499,9000% jump.

As of Oct. 1, 2013, bitcoin closed at $140.3. The jump in less than two months: 614%.

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Here’s an interesting interview with Futurist, Heather Schlegel on Tech Crunch all about the future of money. It is a subject she has researched for several years and why she is now crowdfunding her TV series to talk about The Future of Money. Peer to peer crowdfunding is, she says, one trend we will definitely be seeing more of…

 

 

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So, why is debt the source of income inequality and serfdom? According to Charles Hugh Smith on his blog: OfTwoMinds.com, "It’s The Interest, Baby". Here he takes a look at how being locked into the current fiat system is subjecting us to a life of servitude – both financial and political. It’s a discussion that will make anyone holding bitcoin, glad they have taken steps to remove themselves from a system likey to “self destruct.”

"Governments cannot reduce their debt or deficits and central banks cannot taper. Equally, they cannot perpetually borrow exponentially more. This one last bubble cannot end (but it must)."

I often refer to debt serfdom, the servitude debt enforces on borrowers. The mechanism of this servitude is interest, and today I turn to two knowledgeable correspondents for explanations of the consequences of interest.

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Bitcoin and wallets go hand in hand and so security of those wallets is paramount to any discerning bitcoiner. So, we thought we’d share Four Facts About Bitcoin Wallets, which Bitcoin Examiner thinks you should know…

Read them here

 

And there's something about bitcoin that seems to be attracting the young entrepreneurs, and when I say young, I mean, really young. We first told you about Bees Brothers a few months a go, then BitKidz came along and today, Emily Spaven on CoinDesk tells us about the nine-year-old who is “bullish about bitcoin”.

Andrew Karam isn’t your average nine-year-old. While most kids his age ask for the latest must-have toy for their birthdays, Andrew requested shares in Apple.

His parents bought him $120-worth and Andrew watched the price of the stock with interest, checking regularly whether his investment had gone up or down in value. Andrew’s dad, Steve, later told him about bitcoin and the schoolboy was well and truly hooked.

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