We’re rewarding the question askers & reputations are being recalculated! Read more.

Hot answers tagged

7

In the ECB's view, (Bitcoin) can be used by business (criminals), customers (fraudsters) and savers (money launderers) to perform legal (illegal) activities, but lets ignore it until volume reaches a level where comparison with sovereign currencies reflects negatively on our reputation. The public will then expect us to regulate such digital (rogue) systems ...


3

just some ideas: Strategies could be attacking the trust structure of bitcoin: Buying large quantities of bitcoins and dropping them on the market causes it value to fluctuate and make it appear weak hacking peer sites (like mtgox), or bitcoin users directly (via trojans, etc.) leaves insecurities on where to use it influencing media to emphasize about ...


2

The ECB is a monopolistic institution: it holds a monopoly over the issuing of money on Europe. As a byproduct, any possible competitor is going to A) Be detained and its activity stopped B) Be criminalized or C) Be condemned. Since technology makes impossible to Government to take over Bitcoin, you can expect (C) for a long, long time. If Bitcoin gets ...


1

In the U.S. FinCEN changed the term used for prepaid cards from "stored value" to "prepaid access" and refers to "electronic codes" as being one of the types of "prepaid access". Additionally, they have widened the scope of what a money service business is, and that new scope includes those that serve U.S. customers online even without having any presence ...


Only top voted, non community-wiki answers of a minimum length are eligible