TE14: Bitcoin, Part 6 of 7 Digital Currencies

Tonight Bob Van Valzah dropped in for a long session on Bitcoin & Digital Currencies which turned into the second half of a seven-part series on Digital Currencies.

This episode covers:

  • Can Bitcoins be counterfeited?
  • You can create your own currency, ScottCoins anyone?
  • Are Bitcoins safe to use?
  • Discussed malware & Showtime hack which put miners on victim’s system?
  • Ransomware and the use of Bitcoin as the vehicle for payment?
  • The perception of Bitcoin as negative as a result of criminal use.
  • Should I keep my Bitcoin in my wallet or in an exchange wallet?
  • What are the legal issues around Bitcoin, and can anyone use it?
  • Discussed other currencies, ToysRUS JefferyDollars, frequent flyer miles, etc…
  • How about other countries, for example, Kenya, which used cell carriers as banks.
  • Are countries like the US trying to regulate Bitcoin? At the edges when Bitcoin is turned back into fiat currencies that’s where countries are getting involved, for example reporting.
  • Why are criminals using Bitcoin? It’s a great way to move money across borders, also it affords users anonymity, but it’s no different than using US dollars.

We’ll close out this series in part 7 next week on December 14th, and include some recent news. Please stay tuned, and thank you all for listening.

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