Friday, August 9, 2013

Court Officially Declares Bitcoin a Real Currency

A federal judge has for the first time ruled that Bitcoin is a legitimate currency, opening up the possibility for the digital crypto-cash to soon be regulated by governmental overseers.

United States Magistrate Judge Amos Mazzant for the Eastern District of Texas ruled Tuesday that the US Securities and Exchange Commission can proceed with a lawsuit against the operator of a Bitcoin-based hedge fund because, despite existing only on the digital realm, “Bitcoin is a currency or form of money.”

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Speaker: Skunkworks - Oct 30, 2011

In the post 9/11 era when it's nearly impossible to buy a pack of gum without alerting the big three credit bureaus, you may think that anonymity is long gone from the economy. That's where bitcoin comes in. Bitcoin is a decentralized peer-to-peer currency based solely on computing power. It is (mostly) untraceable and highly anonymous, not backed by any banks or companies, and in the words of Jason Calacanis "the most dangerous project we've ever seen". In my talk I'll explain what bitcoin is and isn't, and why this 70+ PetaFLOP network has caught the attention of everyone from The Washington Post and MSNBC to Wikileaks and the EFF.

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Playlist Defcon 19:


covertress' bitcoin account