Bitcoin and Policy Makers

gATO ReAd- that holiday madness spending increased by 35% by smart mobile devices – like phones and Pad devices these new devices are also the target of digital currencies everywhere. Companies see the need to integrate digital currencies no matter what into their revenue stream. Here are a few attempts:

American Express is the first financial giant to enter the Digital Virtual Currency game, it has payed 30-mill for Sometrics – a game money processor gamecoins.com so AE has taken the first steps into Virtual Digital Currency it see’s a future in this new revenue stream and their rewards packages so it’s a fit made in gamer heaven and American Express customer base.

American Express Gamer Digital Virtual Currency

Facebook is also on the fast track to makes it’s Payment business grow it’s Facebook Credits. The requirements for money transmitter licenses vary from state to state but in the global scale Facebook is ready to get it’s digital virtual currency into the Facebook arena.  From FaceBook filings –Payments. We provide an online payments infrastructure that enables Platform developers to receive payments from our users in an easy-to-use, secure, and trusted environment.

Google Bucks stopped short of launching – Google still made the code available- “bitcoinJ” still stand tall in googles codebase  — http://code.google.com/p/bitcoinj/  — .

Moba-coin In Japan DeNA available to players in the Mobage Digital gaming reports second quarter earnings – bringing in 700 million in Japan alone. Moba-coin rose outside Japan to about 30 Million. DeNa reports a 45% year to year 627 million up 38 percent over operational profits. Digital currencies are popping up everywhere local, regional to worldwide. Mastercard is also on the gray area of a deal in Bitcoin with BitInstant.com they are one of the gatekeepers of the Digital Virtual Currency marketplace and into Bitcoins -BTC -BitStamp, -DWolla or Mt.Gox and many more like a simple MoneyPak from Walmart and your in the Bitcoin business it’s that simple..

Bitinstant is one of the leaders in Cash to anything:

MoneyPak From:—  MoneyGram – CVS – Jewel/Osco – Duane Reade – Stater Bros. – Albersons – Walmart –

A Bitcoin WALLET is simple as apple pie – all Bitcoin are numbers/letters you want to send me some Bitcoins – HERE – 1DhBiBeYD4JNZvim4EefnEoFV2WMFc7e5d –  send it to my wallet. Were is my wallet well Online- you can have a wallet on your computer and of course have a paper backup of your primary key. Or you can us a service to keep your wallet but you have it encrypted  and you can have a backup of your wallet to your computer and once again on paper. Since the wallet is only needed to connect to the p2p Bitcoin network well you can get you money anywhere you have a connection and at least your paper key backup. https://blockchain.info/wallet is a good Wallet service and one they have lots of Bitcoin information to boot and yes gAtO stores his wallet here. I trust them but I have a backup.

How a bit coin Transaction Works:

http://occupycorporatism.com/wp-content/uploads/2012/11/06Bitcoin-1338412974774.jpg

Then we hear about Iran and Bitcoins:

Hyperinflation has made Iraian money dollar-less so now they are turning to (DC) Digital Currency Bitcoins. The advantage is that they can be swapped for US currency and kept outside the country. Iran is not the only one – As we see in Syria there Internet closure not only does it stop communication but it’s slowed down money escaping the country into cyberspace. This is another way for a government to stop the Digital Currency from expanding but these are drastic ways that cannot be kept up for long. The Internet will come back and so will the new digital dollars like Bitcoins.

So Iranians are poking holes by using Bitcoins with VPN’s and Tor :No I been checking TorStatus and Yes Syria has no Tor OR at all and Iran has 3-4 open ToR and a few Bad ones. So Tor is not a connection but a new outlet is the Internet in a suitcase used by the U.S during the Arab Spring is the same pokes and peeks that the dissidents are using to get to the outside world. But the fact is that they can get around and register offshore accounts that are protected from the Iranian government or economy. If Iranian keep using Bitcoins when they come out of sanctions and restrictions they are a major Oil country and Bitcoins may be intrenched into their economy. What happens to this currency???

Bitcoin has come out on top of most attempts to stop it but on it’s 4th birthday Jan 9 2013 this 4 year old is ready to pounce the worlds financial markets. Now Belgium-based Society Worldwide International Financial Transfer (SWIFT) is one of the gate-keepers that must be challenged. They serve as an International Financial Law interpreters like it blocks any Iranian bank blacklisted by the EU Union from using it’s International payment system. Do you think SWIFT wants a competition like Bitcoins with just about 0% transaction fees- that cuts to much into it’s base income model. The velocity of transfer is being deleted more and more by new digital currencies Bitcoin is just one of the first to survive.

Yeah I’a a Bitcoin supporter now but it’s still beta ware people, 21 million Bitcoins we need Bitcoin 2.0 for a world market economy maybe google BitcoinJ is the model??? – gAtO oUt 

Virtual Currency

 

System-D

Google Bucks

http://code.google.com/p/bitcoinj/

FaceBook Credits

http://www.americanbanker.com/issues/177_35/facebook-credits-money-transmitter-license-bank-regulation-1046825-1.html

American Express

Sometrics – Game Dollars

http://techcrunch.com/2011/09/20/american-express-buys-virtual-currency-monetization-platform-sometrics-for-30m/

High retail sales expected to drive revenue growth

Canada’s MintChip

BitCoin

Mastercard/Bitcoin

http://www.forbes.com/sites/abegarver/2012/08/24/bitcoin-mastercard-everywhere-you-shouldnt-be/

 

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