Bitcoin and the Dodo-Bones Theory of Money

– April 16, 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.

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Smart Contracts May Be Revolutionary, but We’ll Still Need Lawyers

– April 16, 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.

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Thus Does the Crypto Winter Endeth

– April 13, 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.

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Could the Blockchain Revolution Use a Dose of Pragmatism?

– March 28, 2018

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

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The Monetary and Financial System of the Future

– March 26, 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.

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Why President Trump’s Banning the Petro Matters for Real Cryptocurrencies

– March 19, 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.

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The Beatings of Crypto Will Continue Until Morale Improves

– March 19, 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?

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Gold Mining vs. Bitcoin Mining

– March 17, 2018

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

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Wyoming Becomes the Most Crypto-Friendly State

– March 14, 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.

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Yes, Dr. Roubini, Blockchain Is Overhyped — and That’s a Good Thing

– March 7, 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.”

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How Cryptomining Could Change Internet Economics

– March 5, 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. 

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“Decentralized” and “Good” Are Not Synonyms

– March 1, 2018

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

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