Tag Archives: cryptocurrency

Beyond the Bitcoin bubble

Source: New York Times
by Steven Johnson

“If there’s one thing we’ve learned from the recent history of the internet, it’s that seemingly esoteric decisions about software architecture can unleash profound global forces once the technology moves into wider circulation. If the email standards adopted in the 1970s had included public-private key cryptography as a default setting, we might have avoided the cataclysmic email hacks that have afflicted everyone from Sony to John Podesta, and millions of ordinary consumers might be spared routinized identity theft. If Tim Berners-Lee, the inventor of the World Wide Web, had included a protocol for mapping our social identity in his original specs, we might not have Facebook. The true believers behind blockchain platforms like Ethereum argue that a network of distributed trust is one of those advances in software architecture that will prove, in the long run, to have historic significance.” [hat tip — David Klaus] (01/16/18)

https://www.nytimes.com/2018/01/16/magazine/beyond-the-bitcoin-bubble.html

Six ways to ruin your ICO before it’s even started

Kai Sedgwick

Source: Bitcoin.com
by Kai Sedgwick

“ICOs are like weddings: months of planning comes to one big day. If the event goes off without a hitch, it will bring in a lot of money. But with the world watching, the stakes are high. One slip and you risk losing it all: the bouquet, the immaculate wedding dress, and the $20 million in ether you’d been promised. Planning an ICO is hard work. Ruining one is surprisingly easy, as a number of recent projects have demonstrated.” (01/17/18)

https://news.bitcoin.com/six-ways-ruin-ico-even-started/

Is this the beginning of the end of the Bitcoin bubble?

Source: The Atlantic
by Derek Thompson

“Bitcoin’s price rises and falls like a plastic bag in a hurricane, so it’s silly to attach too much significance to one day’s fluctuation. But today’s news still reveals a subtle crack in the bull case for bitcoin. The digital currency was designed to be stateless and leaderless — ‘rules without rulers’ — to evade single points of failure, and to remain impervious to government control. But the great irony is that bitcoin is plunging today in part because it’s failing on all three accounts.” (01/26/18)

https://www.theatlantic.com/business/archive/2018/01/bitcoin-bubble-pop/550601/

Cryptocurrency prices plunge

Source: CBS News

“Bitcoin and other digital currency prices plunged after South Korea’s top financial policymaker said Tuesday that a crackdown on trading of crypto currencies remains a possibility. Finance Minister Kim Dong-yeon said in an interview with local radio station TBS that banning trading in digital currencies was ‘a live option.’ … Last week, the South Korean justice minister’s remark that the country will ban bitcoin and other digital currencies triggered big sell-offs and a public outcry. The presidential office then said that no final decision had been made.” [editor’s note: Banning cryptocurrency, or even trying to control it, will be even less effective than alcohol prohibition was. In fact, I predict that within the next decade, at least one regime will be brought down for trying it – TLK] (01/16/18)

https://www.cbsnews.com/news/bitcoin-prices-plunge-as-south-korea-says-ban-still-an-option/

The futility of government bans — Bitcoin always finds a way

Source: Bitcoin.com
by C Edward Kelso

“Cryptocurrencies have been threatened at one point or another by nearly every country on the planet. Rarely does a government venture beyond rhetoric. Those resorting to crackdowns are often met with greater public appetite for decentralized virtual money, making all that initial fuss an exercise in futility. Be they communist strongholds or liberal democracies, bitcoin cannot be stopped.” (01/15/18)

https://news.bitcoin.com/the-futility-of-government-bans-bitcoin-always-finds-a-way/

The Bob Zadek Show, 01/14/18

Source: The Bob Zadek Show

“The Basics of Bitcoin & Blockchain with Stan Larimer” [various formats] (01/14/18)

http://www.bobzadek.com/past-shows/2018/1/11/the-basics-of-bitcoin-blockchain-with-stan-larimer

China: Regime escalates crackdown on cryptocurrency trading

Source: Bloomberg

“China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter. While authorities banned cryptocurrency exchanges last year, they’ve recently noted an uptick in activity on alternative venues. The government plans to block domestic access to homegrown and offshore platforms that enable centralized trading, the people said, without being more specific about how policy makers define such platforms.” (01/15/18)

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

If your crypto doesn’t have a mobile wallet it’s not really a currency

Source: Bitcoin.com
by Kai Sedgwick

“Anyone can create a cryptocurrency. It’s a surprisingly simple process, especially if you copy the codebase of an existing coin and give it a new name. That’s how many of the most popular cryptocurrencies such as litecoin were born. But creating a cryptocurrency and mining the genesis block isn’t enough: until that coin has its own mobile wallet and can be used to transact, it doesn’t deserve to be called a cryptocurrency.” (01/14/18)

https://news.bitcoin.com/if-your-crypto-doesnt-have-a-mobile-wallet-its-not-really-a-currency/

The Satoshi Revolution, Chapter 4, part 2

Source: Bitcoin.com
by Wendy McElroy

“Cryptocurrencies bypass central banks by privatizing the issuance of money and its transfer across borders. The globe should erupt in applause at the return of financial control to the individuals who produce wealth. Finally, financial justice. But a global party over currency freedom would be inadequate because it would overlook another revolutionary aspect of crypto. Cryptocurrencies and the blockchain are a new paradigm of privacy that will replace the old one as surely as the new currency broke the death grip of central banks.” (01/14/18)

https://news.bitcoin.com/the-satoshi-revolution-chapter-4-crypto-a-new-paradigm-of-privacy-and-id-part-2/

How a Bitcoin system is like and unlike a gold standard

Source: Foundation for Economic Education
by Larry White

“Bitcoin is similar to a gold standard in at least two ways. (1) Both Bitcoin and gold are stateless, so either can provide an international base money that is not the creature of any national central bank or finance ministry. (2) Both provide a base money that is reliably limited in quantity (this is the grounding for Selgin’s characterization), unlike a fiat money that a central bank can create in any quantity it likes, ‘out of thin air.’ Bitcoin and the gold standard are obviously different in other ways. Gold is a tangible physical commodity; bitcoin is a purely digital asset.” (01/12/18)

https://fee.org/articles/how-a-bitcoin-system-is-like-and-unlike-a-gold-standard/