Blockchain and Gold: Compliments or Substitutes?
Several key factors make Bitcoin and other cryptocurrencies at best imperfect substitutes for gold.
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Does the Price of Bitcoin Matter?
Far too much uncertainty about the future exists to learn much of anything from current swings in Bitcoin’s price.
READ MOREWho Pays to Keep Bitcoin Running?
When you hand someone a dollar bill, gold coin, or bushel of wheat, the transaction doesn’t require much effort to execute. The seller holds a physical object, and apart from counterfeiting, knows that he or she has been paid. When you pay someone by c …
READ MOREBlockchain: Food that Regulates Itself?
Blockchain technology could revolutionize the way food supply chains work.
READ MOREWhen Digital Currencies Compete, Do You Win?
While Bitcoin dominates media and investor attention, it and dozens of other “altcoins” are competing in the market, each with unique technical and economic features.
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The Politics of Bitcoin
David Golumbia has a new book titled The Politics of Bitcoin: Software as Right-Wing Extremism. It has received less than stellar reviews from Duke University’s Mike Munger and Bitcoin Magazine’s Giulio Prisco. So, perhaps I am just piling on. But pil …
READ MORENow Is Not the Right Time to Regulate Bitcoin
Regulators should take a wait-and-see approach in rather than crafting new rules for digital currencies now.
READ MORESome Perspective on Bitcoin
Bitcoin’s price is hitting all-time highs, but how important is the digital currency in our economy?
READ MOREBitcoin: Decentralized Governance Put to the Test
Bitcoin’s system of radically decentralized governance is facing perhaps the biggest test in the digital currency’s history. As my colleague Patrick Coate described, the code used to run Bitcoin’s blockchain database needs to be updated to transmit mor …
READ MOREDon’t Tax Bitcoin Out of Existence
Many people find cryptocurrencies such as Bitcoin appealing because they aren’t attached to any government and are thus immune to inflation associated with fiat money.
READ MOREBitcoin and the Disintermediation of the State
Bitcoin, the world’s first form of digital cash, is a nascent invention that has overturned centuries of commonly-held assumptions about monetary policy and the role of government in the provision of money. Whereas universities have long taught that money can only be provided by a government that guarantees it and demands its use in taxation, Bitcoin has thrived for eight years without any government backing it, tantalizingly offering a glimpse of a future separation between state and money, starving government of the fuel that powers its totalitarian impulses and warlike tendencies.
READ MOREDecision Time for Bitcoin?
In my last article and blog on Bitcoin, I discussed some issues that Bitcoin faced from consolidation and the increasing professionalization of Bitcoin “mining.” These issues may soon be coming to a head in an argument about Bitcoin’s underlying code that offers two divergent paths for the future of Bitcoin – or a third way in which it splits into two separate assets. This possibility is both a serious concern for Bitcoin users and investors.
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