Friday, August 30, 2013

Coin Toss

Some good news for those who advocate Bitcoin as a means of digital currency - the entity seemingly got a nod of approval from the federales. And for those of you who might feel left out of the Bitcoin rush, now that the digital currency is becoming scarce and quite expensive, there is an alternative.

The Daily Caller ::: The Financial Crimes Enforcement Network (FinCEN), which fights money laundering, invited the Bitcoin Foundation to discuss how the digital currency works and how federal regulators can best ensure it is not abused by criminals or narco-terrorists.

Marco Santori, chairman of the Bitcoin Foundation’s Regulatory Affairs Committee, was heartened by the agencies’ response. “We thought it went extremely well,” Santori told The Daily Caller News Foundation. “We were encouraged by the invitation, and there was really just a tremendous turnout.”

On the flipside, Steve Faktor opines on Forbes that "Bitcoin Is The MySpace Of Money"... he offers 10 reasons why and what might save the currency from falling off a digital fiscal cliff.

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