HIGHLY POTENT NEWS THAT MIGHT CHANGE YOUR VIEWS

cryptocurrency

Russia to ban Bitcoin by next spring

Red Ice Creations
Sept 19, 2014

From: coinreport.net

RT, an English-language news outlet in Russia, reports that a top official with the Russian government has announced that a law will be passed banning Bitcoin’s exchange into real money by next spring because of Bitcoin’s use by criminals and terrorists.

Deputy Finance Minister Aleksey Moiseev said to journalists in Moscow:

“People can play with their chips, and they can call them money, but they can’t use these surrogate currencies as tender. We will discuss this law in the current session of parliament, and possibly even pass it then, or at the very latest by spring next year. We are currently dealing with comments from the law enforcement agencies, about the specifics of legal measures, and we will take their remarks into account. But the overall concept of the law is set in stone.”
While the draft of the proposed legislation has not been published, officials state they will open criminal proceedings against people who mint digital currency as well as those who use it for transactions. Russia’s financial ministry has also asked regulators to ban access to exchanges and online shops that accept Bitcoin, reports RT.

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Bangladesh Central Bank: Cryptocurrency Use is a ‘Punishable Offense’

CoinDesk
Sept 16, 2014

Update (17th September 3:00 BST): A full translation of the statement from the Bangladesh Bank has been added to the piece.


BangladeshThe central bank of Bangladesh has issued a new statement suggesting that the use of digital currency is now illegal in the country.

The Bangladesh Bank, as originally reported by the Agence France-Presse (AFP), has said that the use of bitcoin and other cryptocurrencies is unlawful under existing anti-money laundering (AML) statutes.

The Bangladesh Bank noted in its advisory that harsh penalties could be imposed on those who use digital currencies, saying:

“Bitcoin is not a legal tender of any country. Any transaction through bitcoin or any other cryptocurrency is a punishable offense.”

AFP also reportedly spoke to a representative from the bank, who said that the act of using a digital currency could be punishable by as much as 12 years in prison.

Bangladesh recently enacted Money Laundering Prevention Act, 2012, a revision of a 2009 law that aimed to bring the country’s AML policies up to global standards.

Popularity leads to announcement

Notably, the bank’s decision to outlaw digital currency transactions derived from increasing reports in the local media regarding the use of bitcoin by domestic residents.

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VIDEO — Bitcoin Cryptocurrency Crash Course with Andreas Antonopoulos – Jefferson Club Dinner Meetup

Jefferson Club Silicon Valley
Sept 23, 2013

[VIDEO DESCRIPTION]


PayPal’s Support Is the Best Thing That Could Happen to Bitcoin

by Marcus Wohlsen
WIRED
Sept 9, 2014

Casascius/CC

Fairly or not, bitcoin still has an image problem. For every VC who extols the innovative power of the digital currency, pop culture still sees it as a way for the paranoid cyber-libertarian to shop for black-tar heroin on the Silk Road. All the more reason, then, that bitcoin fans should rejoice that, in a move announced Monday at Techcrunch’s Disrupt conference, PayPal is supporting the crypto-currency on its Braintree payments platform. When the internet’s most mainstream brand for moving money embraces a technology, it’s hard to see that system as a fringe operation.

Not that you’ll be buying Beanie Babies on eBay with bitcoin just yet. For non-financial tech nerds, Braintree is a startup bought by PayPal last year that creates tools for software developers to easily integrate payments into apps and websites. Instead of being shuttled off-site or out-of-app in the manner of the traditional PayPal payment flow, everything happens in-app, in exactly the way individual developers want. In supporting bitcoin—an increasingly popular currency driven by open source software running across a worldwide network of machines—Braintree is allowing developers on its platform to effectively flip a switch and add bitcoin to the payment methods they accept.

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[hat tip: World Crypto Network]


VIDEO — Keiser Report: Bitcoin Independence! E646

Keiser Report
Aug 28, 2014

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the high cost of helping politicians with low rates . . . from the increase in the cost of raising a child to the Greater Depression in Europe. And yet, it is the voter who reelects the politicians based on cheap money induced house price rises. In the second half, Max interviews filmmaker and bitcoin enthusiast, Julia Tourianski, about her online video, The Declaration of Bitcoin’s Independence.

WATCH all Keiser Report shows here:
http://www.youtube.com/playlist?list=… (E1-E200)
http://www.youtube.com/playlist?list=… (E201-E400)
http://www.youtube.com/playlist?list=… (E401-600)
http://www.youtube.com/playlist?list=… (E601-current)

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RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 1 billion YouTube views benchmark.

[hat tip: Victoria van Eyk]


Being an Entrepreneur is Really Hard

Bitcoin Magazine
Sept 5, 2014

Written by Jason King of Sean’s Outpost and reposted with his permission from reddit.


For over a week now, I’ve been trying to write a year in review piece for Satoshi Forest. The words, which usually just flow like a spigot when I’m passionate about something, seem to just dribble out. And what little ekes by is hardly print worthy. Maybe it’s just writer’s block? Writer’s block happens. Or maybe I’m not as passionate about Satoshi Forest as I used tao be?

But, I am passionate about Satoshi Forest, perhaps more than I ever have been. And writer’s block, if it is the culprit, cannot explain why I haven’t responded to Elizabeth Ploshay’s ALS Ice Bucket Challenge in a timely fashion. I guess I’ll have to donate now. You see it’s not just the Satoshi Forest year in review, it’s everything. Emails from friends I haven’t responded to, phone calls I let go to voicemail, new endeavors at Sean’s Outpost I let sit unannounced (http://blockchain.satoshiforest.com/). And then it hits me. I’ve been here before.

I’m really depressed.

And it seems to be going around.

Since the tragic suicide of Robin Williams, four (4) people close to me have also tried to kill themselves. One succeeded. An anecdotal survey of my friends has seen an equal uptick in the number of people talking about or attempting suicide.

It’s been really disturbing.

In the preparations for the Bitcoin in the Beltway conference this past June, I had one of the more surreal conversations of my life. An east coast sales director for Marriott called me wanting to know if bitcoin was linked to suicide. They had heard of the tragic death of Autumn Radtke in March (http://nypost.com/2014/03/06/bitcoin-firm-ceo-jumped-to-her-death-neighbor/) and were concerned about hosting a conference for a technology that was making people kill themselves. I was sure he was joking. He was not. The conversation I had with him must have allayed his fears. #BitcoinBeltway went great, can’t wait to do it again next year.

Obviously, bitcoin does not cause suicide. And while we are quick to sticky a “suicide prevention hotline” when the price crashes, bitcoin is not causing depression. What we may want to look into is something that is not bitcoin related, but more something that comes part and parcel with “bitcoiners”: the woes of entrepreneurship and startup culture.

Being an entrepreneur is f*ing hard. Really hard. Most people don’t even attempt it. It might not feel that way to you, but likely that’s because you surround yourself with other entrepreneurs. Your friends work at startups. Your trips are to startup conferences and conventions. Your news feed is r/bitcoin and hacker news. You are firmly in the echo chamber.

Most people will never try and build a product or company, so most people will never experience what it is like to fear you won’t make payroll and someone else will not be able to pay their rent because of you.

Most people will never know how difficult it is to raise money: to get someone else to believe in you enough to open their checkbook and support you financially…the hours you spend and the mental strain that comes from hearing “No” again and again and again. And if you get a “Yes” the pressure doesn’t dissipate! It increases! Now it’s your crazy idea and someone else’s money you’re responsible for.

Being an entrepreneur is really hard.

And we are really hard on ourselves. We are afraid to show any weakness, because we’ve been taught being weak or vulnerable is to be shunned. If someone asks you how your company is doing, “We’re killing it.” probably comes off your lips before you’ve even processed the question.

It is statistically impossible for everyone to always be “killing it.”

But ask at your next mixer or meetup and almost everyone will be “killing it.”

And that pressure to succeed, to perform, to win is immense. And I think that pressure may be even worse in bitcoin.

Not to everyone, but to a lot of bitcoin early adopters, and especially to a lot of early bitcoin entrepreneurs, bitcoin is a promise, a glimpse of a better world free from the inequalities brought by our legacy financial system. So if you fail in bitcoin, it is easy to feel that you are failing on that promise too.

I’ve felt that way – felt that if I screw up I am screwing it up for every non-profit and charity, that they will somehow not get the benefits of bitcoin because I failed. I see it in others. Just a week ago at #Cryptolina I talked with a group of brilliant entrepreneurs who were convinced that if they didn’t beat an incumbent payment solution to market, they had lost the war. And that whole segment of the market would NEVER benefit from cryptocurrency.

Being a bitcoin entrepreneur is hard.

And I don’t have the answers to how to deal with all the pressure and depression that come from doing what we do. But I have learned a couple of things and maybe someone else that is experiencing depression or having dark thoughts can read this and gain some value from what I’ve learned. And even better, maybe someone that has dealt with depression in the past can riff on what I’ve said and provide some insight into how they cope.

1) You are not alone.

When you are depressed, it seems like everyone else has it all together and you are the anomaly. That’s not true. They probably don’t have their s*t together either. And everyone has problems we don’t see. Everyone.

Some of the greatest entrepreneurs and investors of all time have had brutal fights with depression and suicidal thoughts.

READ:

http://www.inc.com/magazine/201309/jessica-bruder/psychological-price-of-entrepreneurship.html

2) Bitcoin needs you and it doesn’t need you. And that’s ok.

Bitcoin needs you. It really does. But it doesn’t need only you, it needs all of us. You are not the single point of failure. Bitcoin’s success is just as decentralized as the blockchain. So give yourself a break. It’s okay to make mistakes and it’s okay to fail. It’s even okay to fail spectacularly.

Think back to how many times bitcoin has been declared dead. How many times has the price crashed? How many times has a major bitcoin institution been corrupted/hacked/found to be a scam?

And yet, here we are. An you are here too.

3) It is okay to ask for help.

This is hard to learn. We come from a self sufficient culture. And if you ask for help, people will realize that you are not as awesome as they thought you were…BULLSH*T. Asking for help has ZERO bearing on how awesome a person you are. In fact, your friends WANT TO HELP YOU. Being there for you in a moment of crisis is something your friends are probably really down for. But if you ignore them or won’t tell them you are having problems it is really difficult for them to help. Talk to someone. If all else fails you can always call…

THE NATIONAL SUICIDE PREVENTION LIFELINE: 1-800-273-TALK (8255)

I know all of this might not make a difference. When you are caught up in your head in the middle of a depressive episode nothing seems to help. Try to find something that you can concentrate on just to get you through the worst of it. For me, I go play with my kids. It helps me, sometimes more than others.

If you are feeling down, try to talk to someone. And if you see someone feeling down, try to lend a supportive ear.

Bitcoin needs you alive.


VIDEO — Why Bitcoin Terrifies Big Banks | Interview with Andreas Antonopoulos

Breaking The Set
Jan 28, 2014

Abby Martin speaks with Andreas Antonopoulos, founder of Root Eleven and co-host of let’s Talk Bitcoin, discussing how Bitcoin works, and why it’s so important to have a decentralized system of money.

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