[LINK] bitcoin at ABC, oops

[Roger Clarke]

At 18:46 +1000 23/6/11, Jan Whitaker wrote:
>Secret money: ABC virtual currency racket probe
>Asher Moses
>June 23, 2011 - 2:15PM
>http://www.theage.com.au/technology/technology-news/secret-money-abc-virtual-currency-racket-probe-20110623-1ggp6.html
>[staffer set up bitcoin on ABC servers without permission]

"Some Bitcoin generating operations have reportedly drawn so much 
power that they were raided by police on suspicion of drug 
cultivation."

Isn't it nice to have April 1st at any time of year.

But this is beautifully put:

Despite the recent loss of confidence in Bitcoins, Paul Ducklin of 
security firm Sophos said the benefits of an anonymous worldwide 
digital currency were obvious.

"A reliable system would be more useful than traditional cash, as it 
could be used online and between countries," he said.

"No need to post banknotes overseas, visit currency dealers, pay 
exorbitant commissions and worry about arbitrage.

"Better still, anonymous digital cash means that you don't need to 
worry about leaving an eternal trail of information about your buying 
habits which might get sold on to less-than-scrupulous marketing 
companies, or used to bombard you with credit offers you don't want, 
or incorrectly recorded and held against you later, leaked in a hack, 
or abused by an authoritarian government to bundle you off to a 
re-education camp for buying 'unsuitable' stuff."

-- 
Roger Clarke                                 http://www.rogerclarke.com/
			            
Xamax Consultancy Pty Ltd      78 Sidaway St, Chapman ACT 2611 AUSTRALIA
                    Tel: +61 2 6288 1472, and 6288 6916
mailto:Roger.Clarke at xamax.com.au                http://www.xamax.com.au/

Visiting Professor in the Cyberspace Law & Policy Centre      Uni of NSW
Visiting Professor in Computer Science    Australian National University