We Must Protect the Bitcoin Underground
Yesterday I wrote an op-ed to express my dislike for a "cashless society" where everyone is under constant surveillance 24/7, from the cradle to the grave. I concluded that we must continue using cash for as long as we can, until that make it illegal altogether, and in the meantime establish Bitcoin as the anonymous, untraceable e-cash that it was always meant to be. While rejoicing to see (regulated versions of) the Bitcoin economy going mainstream, we must protect the Bitcoin underground. The New York Times reports that the checking account of a restaurant owner was seized by the IRS....
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China has shut down many underground cryptocurrency apps. A total of 13 underground trading applications have shut down after putting a ban on them for almost one year. As suggested by reports, China, which happens to be the world’s second-largest economy, has called crypto-related transactions illegal. China regulators have taken down 23 crypto-media websites and […]
Last month, at the fifth Underground Citadel event in Texas, attendees learned skills to help achieve more freedom from incumbent systems.
Five underground economy forums were closed and arrests made by the German Law Enforcement Agencies in the recent days. Bitcoin has gained the notoriety of being the criminal’s currency. The use of bitcoin on the deep web marketplaces like Silk Road since its early days has garnered the public’s interest in the digital currency. In its initial days, bitcoin was considered to be completely anonymous. The assumed anonymity combined with ease of transaction made it a preferred currency for the underground economy. However, it has been proven that the bitcoin transactions are pseudonymous at....
Bitcoin mining operations continue to truck on through the crypto winter as a number of miners have revealed expansion plans during the last week. Following the acquisition of 10,000 ASIC Antminers, Cleanspark revealed it acquired a turnkey bitcoin mining facility from Mawson Infrastructure. Reports note that Arsenal Digital Holdings acquired an underground data center outside Houston and some people suspect it’s Westland Oil’s infamous fallout bunker. Additionally, the CEO and founder of Terawulf revealed the company’s Lake Mariner data center is up and running with 1....
Former Federal Reserve chairman Ben Bernanke says the main use of bitcoin is “mostly for underground economy activities and often things that are illegal or illicit.” He added, “I don’t think bitcoin is going to take over as an alternative form of money.”
Ben Bernanke on Bitcoin, Cryptocurrency
Former Federal Reserve chairman Ben Bernanke shared his view on bitcoin and other cryptocurrencies in an interview with CBNC Monday.
Bernanke is an economist who served two terms as the chairman of the U.S. Federal Reserve, from 2006 to....