It is no surprise by now I am thoroughly obsessed with the protocol behind bitcoin and all crypto-currencies. A decentralized ledger of consensus. A place to safely agree on a contract, whether that be the worth of a digit on the ledger or an outcome to be expected and fullfilled. It is simple and revolutionary. And what you are reading are epiphanies everyone will have in the future. You are decidedly ahead of the curve.
But I regress. This last week was an exciting one for bitcoiners. On Monday a young man of 24 was indicted for aledgedly knowingly selling BTCs to someone who was selling those BTCs for drugs. The value of a million dollars.
I would like to point out the massive assumptions by the DEA of policing a third partys intentions or thoughts. Like an Orwellian thought crime. On the other side of this coin if he is found guilty for this million dollar master plan let us pay close attention to the scales of justice and remember last year and HSBC. HSBC was found guilty accused of laundering money for the Mexican drug cartels into the hundreds of millions and possibly billions. They actually created briefcases that would fit through teller windows, full of cash! Here's one of the stories in the gaurdian : click here
Yes. $881 million and no one went to jail. The CEO remained as CEO and everybody forgot about it. The scales are not even.
On to other news..
The New York financial service committee also had a hearing regarding bitcoin and declared miners and investors as safe and not considered money transmitters. This is positive as anything less would be like placing a hand up to stop a speeding steam engine. Though wallets were being created at 5000/day through coinbase.com that spiked to 10,000/day after the announcement. www.bitcoinpulse.com for all stats.
And to top it all off china, the biggest mover of price so far, is back in the game despite earlier restrictions. They again accept deposits through banks in yaun. This announcement, before chinese new years, has a lot of bitcoiners wondering what February will bring in chinese investments. As most emerging market currencies tumble into an abyss including our own, bitcoin has remained a steady value with surprisingly little volitility. A couple quick last, but from from unimportant developments, I'd like to mention is the bitcoin Miami meet-up which was a huge success in terms of attendants and ideas. And Ethereum.org was also introduced to the world last night at midnight and I see this as a possible holy grail for bitcoin and bitcoin 2.0 protocols that will soon replace old third party contracts at a huge discount to all parties involved. Another billion dollars saving idea from bitcoin. www.ethereum.org
As for myself, I'm still collecting seaweed from the beach to put in the garden, catching some magnificent, though cold, winter swells and enjoying the peace and quite of island life. At the same time monitoring twitter news feeds multiple times daily and building a wallet and business service for bitcoin and the crypto-economy, which I see competing with banks. So my life is really more exciting than its ever been, or at least, steadily and remarkably fascinating.
Thanks for reading, until next Saturday,
W.
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