What most of the Bitcoin community should have learned in 2017, it it weren’t obvious before, is that miners do not control the Bitcoin network. So who is in control? Everybody, and nobody.
On November 28, 2017, the US Senate, Committee of the Judiciary held a hearing regarding bill S.1241: Modernizing AML Laws to Combat Money Laundering and Terrorist Financing. Despite little attention being given to digital currencies during the hearing, bill S.1241 itself would amend the definition of ‘financial institution’ in the United States Code to include […]
At the time of publication, the following warning appears on bitcoingold.org welcome page:
In their article, ‘the rise of Bitcoin doesn’t mean the end of banks. Here’s why,’ Dirk Baur and Niels Van Quaquebeke argue that cryptocurrencies are not trustless systems but merely require the transfer of trust to a different system. They claim that “While we previously had to trust financial institutions to verify transactions, with the […]