Governments and central banks are attempting to solidify their positions on bitcoin, a cryptocurrency that has soared in value in the past year. Over the past few months, a number of governments have issued statements or passed legislation, such as China, which prohibited financial institutions from facilitating bitcoin transactions, and Thailand, which declared that the […]
Archives for December 2013
Infographic: A look at the $3 trillion holiday economy
‘Tis the season to get into a lot of debt and purchase gifts for people you don’t like. Let’s forget about being the Grinch for now and focus on the economic side of the Christmas season. According to an infographic, American consumers are spending $3 trillion at this time of the year. Although this is […]
European Union banking watchdog issues warnings on bitcoins
The European Union’s banking watchdog issued a series of warnings on bitcoins on Thursday regarding the safety and investments of the virtual currency. The public official pretty much concluded that there is no government regulation (yet) and you’re on your own. “Currently, no specific protection exists in the E.U. that would protect consumers from financial […]
Report: America’s top 40% pay all of the nation’s taxes
If one were to attend a union, anti-poverty or general left-wing rally, you would be bound to hear, “Stop the war on the poor! Make the rich pay!” This slogan is shouted incessantly at these types of demonstrations, but would they stop if attendees were showed a report that highlighted the fact that the rich […]
JPMorgan Chase files patent for payment system similar to bitcoin
The world of bitcoin has been set abuzz Wednesday after it was discovered that JPMorgan Chase has filed for a patent in the United States to establish an anonymous online payment system using virtual currency. Most concur that this is similar to bitcoin, a growing cryptocurrency that has dominated headlines for the past month. In […]