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Economics

More than $60m worth of bitcoin was stolen from one of the world’s largest digital currency exchanges yesterday, and nearly 24 hours later, the event is still shrouded in mystery.

What is clear, though, is that the impact is far-reaching.

The Bitfinex theft represents the largest loss of bitcoins by an exchange since Japan’s infamous Mt Gox lost 744,408 BTC in early 2014 (worth $350m), a breach that would ultimately cause it to cease operations.

via The Bitfinex Bitcoin Hack: What We Know (And Don’t Know) – CoinDesk

What if – just what if – the system is flawed this way. What would we expect to see? And what would the response be of the academics on the inside, when criticized from the “cranks” on the outside?

A Seed Of Doubt by Steve Patterson

Watch “Now Japanese Prime Minister Abe Predicts Global Economic Catastrophe is Iminent” on YouTube

http://startusingbitcoin.com/blog/1-what-is-bitcoin/

Watch “The US Dollar Is The Biggest Bubble on the Planet And Has Just Began To Pop” on YouTube

http://bit.ly/1TU4aoH

Watch “Billionaire Gross: Jubilee Debt Relief as Prelude to New Global Economic Order” on YouTube

Watch “Why the Fed’s Magic Trick Won’t Work | Robert P. Murphy” on YouTube

Robert Murphy explains why the Federal Reserve has no more tricks up its sleeve, and it’s latest magic trick is doomed to failure.

Continue reading “Watch “Why the Fed’s Magic Trick Won’t Work | Robert P. Murphy” on YouTube”

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