Category Archives: Money
Money & finances
4 Reasons Why Your Banking Relationship Is About to Significantly Change
Will Google be your business banker? Think about it: Does your business really need a bank? Or maybe, you should just let Google handle it all.
Why Alibaba’s Alipay And PayPal Will, And Should, Destroy Physical Banks
Who needs banks? I’m not questioning the basis of our financial system—I’m talking about physical (high cost, low service) bank branches.
Bitcoin and Anonymous Digital Cash
Since the early days of Bitcoin when it became popular as the payment option of choice on the ‘darknet‘ and amongst the merchants of marketplaces such as Silk Road, where buyers could browse through listings for a wide range of illegal drugs and firearms, digital currency – and Bitcoin in particular – has earned a reputation amongst the general public as a way to pay for things anonymously over the internet.
In many ways Bitcoin came to be viewed as if it were a kind of digital cash. Of course cash payments have always been the prefered payment method of choice amongst criminals because of its anonymity, but for the same reason it is also valued by regular members of the public who value their privacy and find the constant monitoring and recording of everything we do on the internet by both governments and corporations to be creepy and unpleasant. There are also other similarities between Bitcoin and cash, as with a wallet installed on your own computer you control your own coins and spend them without needing to have an account with a third party like a bank who can then impose charges on you for using your own money or risk your hard earned money on risky ‘casino banking’ trades.
One of the most prominent names in Bitcoin will plead guilty to multiple federal charges in a New York court next Thursday, September 4th. According to Reuters, Charlie Shrem, an entrepreneur who’s made millions off of Bitcoin, has made a plea deal with authorities regarding charges that he illicitly transacted Bitcoin with users of the underground marketplace Silk Road. Shrem’s lawyer tells Reuters that he will plead guilty to the charge of unlicensed money transmission, which carries a maximum prison sentence of five years. He was also charged with one count of conspiracy to commit money laundering, and one count of willful failure to file a suspicious activity report with banking authorities. Combined, those charges carry an additional maximum sentence of 25 years in prison. It is not yet know if Shrem’s co-defendant, Robert Faiella (who allegedly purchased Bitcoins from Shrem before marking them up for sale on Silk Road), will also plead guilty. Shrem was arrested at JFK International Airport late this past January.
Free Bitcoins, Free Litecoins, Free Feathercoins. Once again, it’s free so why not?
I am NOT a fan of Big Banks. I think they are terrible and they treat their customers horribly. Many of the followers of MyMentalMedley.com know I am all about alternatives, such as Dwolla, RushCard and more.
My favorite prepaid service, hands down is Account Now. I have used them for YEARS and think they are the best thing ever. So, if you don’t have one, sign up today, please, for your sake.
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