The world’s first Bitcoin baby was born in California, according to a June 10 Yahoo report. This baby is the first whose conception was funded by the hugely popular Bitcoin currency.
Some black hat hacker going by the handle „Lance G“ threatened to crash the site unless it gave him a $5,000 ransom. Let’s not pretend blackmail is some kind of economic indicator for the monetary viability of bitcoin. Some even speculate that law enforcement is behind the DDoS attacks.
People want to hold their Bitcoins rather than spend them. Imagine blockchain that. People want to save. Admittedly, volatility makes future predictions difficult, which makes commerce difficult. But here’s the thing, people who understand monetary policy seem to prefer a volatile currency to an inflationary currency.
12/8: This week’s show takes a look at a number of stories, from more Reid/Kyl support (or the lack thereof), New Jersey taking another crack at online gaming, and the UK thinking about new ways to tax offshore online providers. [Visit Website] [Download MP3].
This currency, once it reaches critical mass, will not be easily manipulated by individuals or governments. It will give us a chance, not a guarantee, but a chance, to correct the system.