TorBroker: Anonymous Finance and Trust
In late March, the cryptic underworld of the Tor hidden service ecosystem added a new service to its midst: TorBroker, a gateway for Bitcoin users to the stock markets of the mainstream world. This is not the first service to do such a thing. ICBit has been doing the same, albeit in a very limited fashion, for over a year by offering futures on oil, gold....
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In mining we trust. On the side of the US $1 bill it says "In God, we trust". Because money is all about trust. Trust that it's real, trust that it will remain at a similar value for the duration of the transaction at least, trust that the products are represented honestly. In the past trust that the paper was redeemable in gold, and more recently trust that our dollar will be backed by the "full faith and credit of the US Government". And when that trust is lacking society shuts down. To some extent, the crisis of 2008, in the same manner as the one in 1929 was about the lack of trust.....
In an exclusive interview with Bitcoinist, Mr. Brandon from Cryptonit, an organization that promises to offer the most secure platform to trade traditional fiat money such as USD and EUR for cryptocurrencies like Bitcoin, litecoin, Peercoin, Namecoin, etc. says that they are going to launch anonymous debit cards by the end of 2015. Coming from a company that is registered with the relevant authorities in the UK, the anonymous debit cards are expected to gain trust among the cryptocurrency users. Registered Bitcoin Exchange, Complies with the Existing Money Laundering Laws.
Grayscale Investments, the world’s largest digital asset manager, has filed to register a new cryptocurrency trust for Yearn Finance (YFI).
Just hours after an anonymous source claimed India would issue a blanket ban on all cryptocurrencies, Jack Dorsey and Jay-Z announced a 500 Bitcoin development trust. Twitter CEO Jack Dorsey has announced the creation of a blind Bitcoin (BTC) development trust worth 500 BTC ($23.7 million), along with rapper Jay-Z, for teams working on the project in India and Africa. Dorsey revealed the creation of the trust on Feb. 12 while sending out a call for three board members to oversee the blind trust initially.JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin....
Bitcoin has been in existence for more than six years already, yet it seems like the system is having a tough time securing the trust of the general public. After all, the cryptocurrency has gained a bad reputation for being used in underground markets and money laundering activities, and it doesn't help that some bitcoin exchanges like Mt. Gox have suffered hacking attacks and have ultimately shut down. While governments and states are trying to come up with legislation to oversee this industry and protect consumers, many are still doubtful that digital currency security can be....