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Paypal refunds $287,859 from Butterfly Labs -- Virtual Goods & Virtual Currency -- The Future

MB · 2013-09-19 ·00:04:16 ·MadBitcoins
Today's Episode is sponsored by: http://YouTube.com/AnarchistMetalhead September 19, 2013 -- Lhasa, Tibet --You're in good hands, with MadBitcoins. Here are Today's MadBits: Coindesk BPI reports that Bitcoin prices continue to remain steady in the $120 range (because reporting on a blended bitcoi...

Summary

This episode from September 19, 2013, focuses heavily on the practical applications of Bitcoin, particularly in the realm of virtual goods, while also addressing recent financial fraud and speculating on the future dominance of the currency.

1) Main Topics Discussed:
* Butterfly Labs Refunds: Reporting on the large amount of money ($287,859) refunded via PayPal to victims of Butterfly Labs (BFL) fraud.
* Virtual Goods Integration: The ability for major online game developers (like Big Points) to accept Bitcoin for purchasing virtual goods, marking a convergence of real-world currency and digital economies.
* The Future of Bitcoin: A dramatic, speculative segment predicting that Bitcoin will eventually supersede traditional monetary systems.
* Charity: A mention of the ongoing "hoodies for homeless campaign."

2) Key Quotes:
* "Online game developer Big Points, 330 million users, can now buy virtual goods with Bitcoins."
* "Bitcoin's and virtual goods go together like peanut butter and jelly."
* "It's been your major source of power, your advantage over us for so many years, and we're going to take it away."

3) People/Entities Mentioned:
* Butterfly Labs (BFL)
* Marco Santori (Chair of the Bitcoin Foundation's Regulatory Affairs Committee)
* Big Points (Online game developer)
* FBI's Cybercrime Division, Better Business Bureau, fraud.org (Entities for fraud victims)

4) Bitcoin Price:
* The price was reported as remaining "steady in the 120 range."

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