VP of St. Louis Fed on Bitcoin: "A Stroke of Genius"
The Vice President of the St. Louis Federal Reserve Bank in the United States, David Andolfatto, has come out with a 36-page slideshow/report on the topic of bitcoin. Now, if you have a few minutes, you'll probably want to take a look at it (it's very quick to get through). Based on my review of the report, I find it to be mostly fair. The report calls bitcoin "A stroke of genius", informing readers that it is a monetary system governed by complex algorithms. In addition, the report recognizes that banning bitcoin is next to impossible. A specific point I feel is spot-on about this report....
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On 31st March, the Federal Reserve Bank of St. Louis - one of the 12 Federal Reserve banks - held a talk on bitcoin from a banking and economic viewpoint. The session, entitled 'Bitcoin and Beyond: The Possibilities and the Pitfalls of Virtual Currencies', was presented by economist David Andolfatto, who is Vice President at the bank and a professor at Simon Fraser University. Andolfatto offered some interesting insight into bitcoin from his perspective. Many aspects of the talk were positive about the digital currency, some were more negative, and overall the session was quite balanced.....
David Andolfatto, vice president of the Federal Reserve Bank of St. Louis, came out Monday with some words that should be encouraging to the Bitcoin world. He said that the open-source, transparent, decentralized management of the blockchain, the ledger that underpins all Bitcoin transactions, is a "stroke of genius." He believes the Federal Reserve could do a lot better job in being accountable to the public. Also read: Bitcoin Price and the Federal Reserve. He derided the notion that Bitcoin or other digital currencies are the future, however, and unequivocally stated that nearly all....
In celebration of Louis Vuitton’s bicentennial birthday in the fashion industry, the elite luxury brand launched the Louis Vuitton NFT game in 2021 called Louis: The Game. And it has jumped to more than 2 million downloads as of this writing. The game has stirred a lot of response and community engagement all over the […]
American comedian and producer Louis Székely, professionally known as Louis C.K has started to accept bitcoin payments for his comedy show performed at Madison Square Garden. The audio-only show can be purchased with bitcoin through BitPay, and customers can choose the price for this audio album. Louis CK mentioned on his website: Louis C.K is the first comedian ever to accept bitcoin for comedy albums and shows. C.K integrated BitPay on his website louisck.net, to enable his fans and customers to purchase any of his shows, albums and recordings with bitcoin. “We have the price set to 5....
What is of particular concern is how the St. Louis library may not have any data backups to resolve this matter quickly. Ransomware continues to be utilized by internet criminals all over the world. Earlier this week, the libraries of St. Louis have been crippled by a ransomware attack. Public terminals provided by the library to the poor and vulnerable of the city had to be shut down as a result. Moreover, any system related to processing book and material lending remained inaccessible for quite some time. As one would come to expect from a ransomware attack, the criminals demanded a....