Money | Rex Silentium

DeLauro: Pay people $2,000 to turn in assault weapons

By innovate | April 8, 2015 by innovate

Congresswoman Rosa DeLauro, whose district includes a part of Shelton, will re-introduce the SAFER (Support Assault Firearm Elimination and Education for our) Streets Act that would provide a tax credit to people who chose to turn in an assault weapon to law enforcement. “Just days after the Newtown tragedy, President Obama asked, ‘Are we doing enough to protect our children?’ And he admitted the answer is no. That must change,” said DeLauro, a Democrat in…

How Can We Make Bitcoin Mainstream?

By innovate | November 12, 2014 by innovate

Bitcoin now has PayPal integration and dedicated global banking to go along with its natty logo. Regulators are taking notice of it, and noted retailers are accepting it. If you think bitcoin is mainstream, though, think again. According to an analysis earlier this year, there were only 1.2 million bitcoin addresses holding anything other than dust as of February. Even its advocates admit that it has a long way to go. Curtis Fenimore’s attempt to…

‘Bitcoin is Better than Currency’ – Bill Gates

By innovate | October 9, 2014 by innovate

When Bill Gates introduced the Windows® operating system it changed how we use computers forever and made Gates one of the wealthiest men on the planet. But it was also Gate’s unique business model that made Microsoft the powerhouse that it is today. Instead of hiring programmers to write his code he chose mathematicians, physicists and other scientists under the theory that if they were that smart computer programming would be a piece of cake.…

The Bank Of England Just Said It Thinks Bitcoin Could Be Huge

By innovate | September 11, 2014 by innovate

The Bank of England has devoted two papers to the rise of digital currencies. It’s another demonstration of Bitcoin’s transformation from niche cyber-libertarian intrigue to a subject of mainstream interest. More significantly, the Bank suggests that the key innovation is not the digital currency itself — which is subject to wild fluctuations — but the “distributed ledger,” which tracks Bitcoin transactions. That ledger has the potential to revolutionize the financial system, the bank argues. Although…

Obama’s Former Chief Economist Calls For An End To US Dollar Reserve Status

By innovate | September 8, 2014 by innovate

There are few truisms about the world economy, but for decades, one has been the role of the United States dollar as the world’s reserve currency. It’s a core principle of American economic policy. After all, who wouldn’t want their currency to be the one that foreign banks and governments want to hold in reserve?But new research reveals that what was once a privilege is now a burden, undermining job growth, pumping up budget and…

DigitalTangible Launches Crypto 2.0-Powered Gold and Bitcoin Market

By innovate | September 4, 2014 by innovate

DigitalTangible has announced the formal launch of its crypto 2.0-powered, decentralized marketplace for gold and bitcoin traders.While existing services allow bitcoin users to buy gold with bitcoin, DigitalTangible offers a novel innovation for the market, using an underlying crypto 2.0 protocol that issues tokens representing physical gold and attaches them to bitcoin addresses, thereby allowing traders to seamlessly move between bitcoin and gold. DigitalTangible counts two of the more visible gold-buying services that cater to…

Currency reform in Ancient Rome

By innovate | August 31, 2014September 1, 2014 by innovate

He reduced taxes and attempted through various means to end the “singular system of annihilating capital and ruining agriculture and industry [which] was so deeply rooted in the Roman administration”.[21] At the same time, though, he subsidized literature, art and science and socialized education.When invaders from Gaul threatened the Empire, Severus Alexander attempted to buy them off rather than engage in a pitched, costly battle. This, once again, angered the legionnaires, who elevated General Maximinus…

What Gave Bitcoin Its Value?

By innovate | August 30, 2014 by innovate

Many people who have never used bitcoin look at it with confusion. Why does this magic Internet money have any value at all? It’s just some computer thing that someone made up. Consider the criticism of goldbugs, who have, for decades, pushed the idea that sound money must be backed by something real, hard, and independently valuable. Bitcoin doesn’t qualify, right? Maybe it does. Let’s take a closer look…. But Mises added that the value…