{"id":1163,"date":"2013-08-14T23:09:14","date_gmt":"2013-08-14T15:09:14","guid":{"rendered":"http:\/\/hansadutta.com\/krsnanews\/?p=1163"},"modified":"2013-08-14T23:09:14","modified_gmt":"2013-08-14T15:09:14","slug":"virtual-is-now-accepted-as-reality","status":"publish","type":"post","link":"http:\/\/hansadutta.com\/krsnanews\/2013\/08\/14\/virtual-is-now-accepted-as-reality\/","title":{"rendered":"Virtual is now accepted as Reality"},"content":{"rendered":"
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Every Important Person In Bitcoin Just Got Subpoenaed By New York’s Financial Regulator<\/a><\/h2>\n

Forbes – KASHMIR HILL – Aug 12, 2013<\/p>\n

Things are getting serious for Bitcoin this month: a federal judge declared it real money, Bloomberg gave it an experimental ticker (XBT), and New York\u2019s financial regulator announced an interest in regulating it. Declaring Bitcoin \u201ca virtual Wild West for narcotraffickers and other criminals,\u201d the New York State Department of Financial Services is stepping into the sheriff\u2019s boots.<\/p>\n

\u201cWe believe that \u2013 for a number of reasons \u2013 putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry,\u201d said NYSDFS superintendent Benjamin Lawsky in a statement. Go to story<\/a><\/span><\/p><\/blockquote>\n

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<\/div>\n
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Elusive wealth<\/div>\n
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From gold to paper to digital existence to nothingness\u2026<\/a><\/div>\n
Formerly in the currency, when you go to take some exchange, it was the etiquette of the teller to ask you, \u201cWhat you want, silver money, gold money or paper money?\u201d It was their duty. If you say \u201cI want gold money,\u201d they will pay in gold money. Not only it is written in the paper, \u201cI promise to pay,\u201d but the promise was kept. If he wants, \u201cGive me payment in gold,\u201d they will pay. more<\/a><\/div>\n<\/div>\n

excerpt from Morning walk, December 31, 1973, Los Angeles<\/a>:<\/p>\n

PRABHUPADA: It is very simple. Don’t accept paper currency. It must be gold or some metal worth. Just like one dollar, it must be worth one dollar metal. Then it is solved. But they want to cheat. How it can be solved? Because if I pay you one dollar, I must pay you value for one dollar. But it is the cheating process is going on, “I pay you one dollar, a piece of paper. That’s all.” So you accept cheating, and I also cheat. Government allows. So how the problem can be solved? It is cheating. But the government allows it as law. And you accept, I accept. Then how they can be solved, solution? This is the solution.<\/p>\n

PRAJAPATI: In the economy itself there isn’t actually enough money to, that’s even in the banks…<\/p>\n

PRABHUPADA: That is cheating. Therefore I say cheating. I have no money. I give you simply paper. I promise to pay hundred dollars. What is the use of that promise if I have no money? But you want to be cheated. I cheat you. That’s all. You are satisfied of being cheated by me; so I take the advantage and I cheat you. I give you a paper. That’s all.<\/p>\n

BAHULASVA: Real money is gold and silver.<\/p>\n

PRABHUPADA: Any… It must be value. According to the market price, it must be value. Whatever it may be. Gold is taken, because gold is the most valuable metal. A small piece of gold, it can carry two hundred dollars. But if I give you iron, then you have to bring another, what is called, bus, to carry it.<\/p>\n","protected":false},"excerpt":{"rendered":"

Every Important Person In Bitcoin Just Got Subpoenaed By New York’s Financial Regulator Forbes – KASHMIR HILL – Aug 12, 2013 Things are getting serious for Bitcoin this month: a federal judge declared it real money, Bloomberg gave it an … more →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,14],"tags":[424,8],"_links":{"self":[{"href":"http:\/\/hansadutta.com\/krsnanews\/wp-json\/wp\/v2\/posts\/1163"}],"collection":[{"href":"http:\/\/hansadutta.com\/krsnanews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hansadutta.com\/krsnanews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hansadutta.com\/krsnanews\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/hansadutta.com\/krsnanews\/wp-json\/wp\/v2\/comments?post=1163"}],"version-history":[{"count":0,"href":"http:\/\/hansadutta.com\/krsnanews\/wp-json\/wp\/v2\/posts\/1163\/revisions"}],"wp:attachment":[{"href":"http:\/\/hansadutta.com\/krsnanews\/wp-json\/wp\/v2\/media?parent=1163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hansadutta.com\/krsnanews\/wp-json\/wp\/v2\/categories?post=1163"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hansadutta.com\/krsnanews\/wp-json\/wp\/v2\/tags?post=1163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}