Coinbase - Have a license in California or not?

Interesting thread on Reddit if Coinbase does indeed have a license as a money transmitter in the State of California or not. 

Today, a statement was released by the CA Financial Regulator citing that Coinbase does NOT have any license. The article can be read here on Coindesk

The licensing page for Coinbase tells a different story:

Now the question is, who is telling the truth. As per California's department of business oversight, you can see, they Coinbase is clearly not mentioned.

The Money Wiki - The effort has started...

Last year I had announced my plans to work on an idea that was hovering above me for months. The idea was simple, to have a crowd-sourced wiki for all things related banking, payments, money and economics.

It was one of those things that I wanted to do, but just didn't get time to actually starting it. Well, 1s of Jan. 2015, I did start the project. The Money Wiki.

Everyday, I go through my exhaustive list of bookmarks and keep adding pages, bit-by-bit, chipping away and I for one, am glad I am finally seeing it come together. It will take a few months before I am reasonably content with the content in it. Right now it is in its infancy stages.

What I need is help. Both financial help and volunteer help. I need financial help to hire full-time dedicated resources to work on The Money Wiki. I need volunteers to help contribute data & content that they have access to.

I've put together a pretty detailed FAQ page, that enlists and describes what the project is all about, how can one contribute (volunteer) towards the effort, etc.

I will also be publishing the financial requirements for the project and will then be raising it from friends and colleagues in the field, who, hopefully would be able to contribute.

If you can spare free time or a dime towards the project, please do contact me so that I can add you to the contributors list. 

Why is the Price of Bitcoin Falling? How Low Will It Go?

For the past month or so, the price of Bitcoin has been on a decline. Shortly after the New Year's it feel through the floor of US$ 300.

As I write this article, the price of Bitcoin is US$ 270. Why is the price falling? If you were to ask me, I would say I'm not sure.

Too much liquidity in the market? People cashing their Bitcoins after the holidays, where they could have racked up some bills. People might be holding on to a few bitcoins, and decided to cash them out, and pay their bills (the falling prices certainly don't help).

Which brings me back to the first culprit, too much liquidity? Is there such thing as too much mandatory liquidity? Then I came across this tweet by Spencer Noon, which kind of summed it up:

The article on Reddit can be read here. Its a pretty accurate depiction (in my opinion) as to what is contributing to the downfall in price for Bitcoin. The tl;dr version is: 1,470 Bitcoins have to be sold everyday due to cover electricity costs by miners. These are the coins they have to sell to be able to sustain the utility costs they incur due to mining. 


How We Pay? A Federal Reserve Payment Study (2014).

"Changes in technology have affected not only how people live and work, but also how individuals and businesses pay for goods and services. The Federal Reserve’s most recent triennial study of the payments system highlights a number of shifts in this dynamic arena."

This is a pretty nifty, 4-page read, extracted from the EconSouth Jan/April 2014 Edition as published by Federal Reserve Atlanta.

The document (PDF 3.3 MB) can be downloaded from here