Bitcoin and Blockchain

Monday, May 21st, 2018

Blockchain technology could be as big as they say. The particular assets and governance models behind them are subject to the market test, both in terms of the price and their ultimate viability.

Wednesday, May 16th, 2018

Can stablecoins compete with existing government currencies?

Tuesday, May 15th, 2018

The fact that about half of altcoins failed or came close to doing so over five years is a promising sign for that market, rather than an indictment of anything not named Bitcoin.

Wednesday, May 9th, 2018

We love to prognosticate, but it’s impossible to do so without severely glossing over the complexities of the real world. That leads us to false dichotomies, like “Blockchain technology will change everything” versus “Blockchain is all hype.”

Sunday, May 6th, 2018

It is the great presumption of public policy that some people with power, resources, and status can know what is true, and therefore what must be better. This is in contrast to the lowly actors in the marketplace who must deal daily with the problem of not knowing. To navigate life, to find profitable investment opportunities, to discover what it is that society needs now and what can wait, is the great challenge of material life. But the state takes a different route. It declares what is true, attempts to freeze the process of life, and then impose it as a matter of law.

Friday, April 20th, 2018

Dividing the world into “centralized” and “decentralized” obscures important features of the bitcoin protocol. A more sophisticated lexicon would leave scope for “distributed” processes.

Thursday, April 19th, 2018

Venezuela recently launched its own cryptocurrency. If recent history is any indicator, investors should steer clear.

Tuesday, April 17th, 2018

The fact that Anderson’s theory of money seems to fail the Bitcoin test forces us to question our long tradition of issuing new coins that contain precious metals, or banknotes redeemable for some other, already valuable instrument.

Monday, April 16th, 2018

Many people who are bullish on blockchain make grandiose claims that the technology will completely overhaul industries and institutions. But these claims often ignore the complexity of the real world and misunderstand what revolutionary technologies actually do.

Friday, April 13th, 2018

There will be another winter. And another. To get the best sense of the potential here, it’s best to look at the price, not day to day, but on a logarithmic scale. Here is where we can see the potential of the technology. That has a much more meaningful significance than the fickle judgments of seasonal news hounds that make the difference on the daily margin.

Wednesday, March 28th, 2018

By focusing almost exclusively on disruption, blockchain proponents can ignore the important role of adoption by existing players in finance and other industries.

Monday, March 26th, 2018

Seemingly out of nowhere, we have now an entire suite of technology that could conceivably displace and even replace national money, traditional payment options, and even regulated capital markets, and bring us something new and much more wonderful.

Monday, March 19th, 2018

With the stroke of a pen, President Donald Trump may have just accomplished what most observers thought impossible: he’s made the Petro relevant.

Monday, March 19th, 2018

In the ideal world, you invent something wonderful, the world celebrates and starts using it. You get rich. We can dream, can’t we?

Saturday, March 17th, 2018

The contrasting supply and demand mechanisms of Bitcoin and gold mining pose real challenges to the cryptocurrency's future.

Wednesday, March 14th, 2018

Wyoming has a thin population base, astonishing natural beauty, and a wonderful crew of politicians and regulators who believe in independence, innovation, and technological progress. Thanks to some wise activism from knowledgeable people in the space, the legislature just passed a series of bills that will make Wyoming something of a safe space for crypto.

Wednesday, March 7th, 2018

In an article in The Guardian this week, economists Nouriel Roubini and Preston Byrne call blockchain “one of the most overhyped technologies ever.” In an earlier piece, Roubini predicts that Bitcoin and other cryptocurrencies collectively are “the mother of all bubbles.”

Monday, March 5th, 2018

By having users volunteer the CPU power to mining, websites could find that they will earn more from mining than from subscriptions or ads. This could change everything. 

Thursday, March 1st, 2018

The crypto community often forgets that there are costs to decentralization in addition to benefits.

Wednesday, February 28th, 2018

There are two important differences between modern cryptocurrencies and the competitive monies F.A. Hayek envisioned.