In Defense of Alternative Cryptocurrencies

In Defense of Alternative Cryptocurrencies

Alternative cryptocurrencies, like Litecoin, Primecoin and PPCoin, have gotten a significant amount of bad press recently. Lead Bitcoin developer Gavin Andresen wrote an article criticizing altcoins as being a way of getting around Bitcoin's 21 million currency supply limit and "getting back to an 'inflate on demand' world" and, more recently, Daniel Krawisz from The Mises Circle wrote a lengthy post entitled "The Problem with Altcoins", raising many other concerns. Krawisz's arguments received a substantial amount of support from the Bitcoin community, showing that there are many Bitcoin....


Related News

The RAND Corporation Report: National Security Implications of Virtual Currency

The RAND Corporation, an influential global policy think tank with strong defense and homeland security ties, has released a report titled “National Security Implications of Virtual Currency .” The report, freely available online , examines the feasibility for non-state actors, including terrorist and insurgent groups, to increase their political and/or economic power by deploying a virtual currency (VC) for use in regular economic transactions. The report was sponsored by the U.S. government through the Office of the Secretary of Defense, and the research work was conducted....

Ross Ulbricht's Defense Point to Corrupt Feds While Seeking New Trial

It has been nearly a year since Ross Ulbricht was convicted in all seven charges filed against him for his substantial role as the figurehead in the running of Silk Road, the infamously anonymous dark web drug marketplace. Now, his defense is filing to appeal. Their strategy is to seek a retrial by citing a long stack of abuses by the prosecutors and the court while convicting Ulbricht. The defense will argue that the court prevented crucial evidence from seeing the day of light. In particular, the evidence and information surrounding two corrupt federal agents who were involved in the....

Bitcoin Foundation's Legal Defense Fund and Regulatory Outlook

On July 9th, Jon Matonis acceptedthe position of Executive Director of theBitcoin Foundation. Jon Matonis is a tech contributor toForbes Magazine, editor of The Monetary Future, and also serves on our editorial board at Bitcoin Magazine. Previously Jon was the CEO of Hushmail and Chief Forex Trader at VISA. How the Bitcoin Foundation will move forward on regulatory and legal issues is of crucial importance to the Bitcoin community. Jon announced a Legal Defense Fund and that it will be structured similarly to that of the Electronic Frontier Foundation. The Foundation intends to file amicus....

Bitcoin Trial: Judge Tells Ross Ulbricht to Decide if He Wants to Testify in his own Defense

U. S. District Judge Katherine Forrest told Ross Ulbricht late last week that he has until the government rests its case Monday to decide if he wants to testify in his own defense, The Wall Street Journal reported today. Ulbricht is accused of operating Silk Road, the online drug marketplace. The judge's ultimatum struck some legal experts as unusual, according to The Wall Street Journal. Experts interviewed by the newspaper said defendants are typically allowed to wait until the end of a trial before deciding to testify or not. On Thursday, Ulbricht's lawyer, Joshua Dratel, objected to....

Ross Ulbricht Defense Requests Retrial Under Fifth Amendment

The convicted Silk Road founder Ross Ulbricht is currently seeking a retrial based on the assumption that he was denied his fifth amendment right. Last month, the 29-year old internet entrepreneur was found guilty of charges related to his active involvement in running Silk Road - an online drug marketplace. He was also held guilty for executing computer hacking conspiracies, and committing narcotics trafficking and money laundering. In its motion filed in New York federal court, Ulbricht's defense however accused the government of failing to "provide exculpatory material and information....