Blockchain and Gold: Compliments or Substitutes?

– July 13, 2017

Several key factors make Bitcoin and other cryptocurrencies at best imperfect substitutes for gold.


Does the Price of Bitcoin Matter?

– June 28, 2017

Far too much uncertainty about the future exists to learn much of anything from current swings in Bitcoin’s price.


Who Pays to Keep Bitcoin Running?

– June 23, 2017

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 …


Blockchain: Food that Regulates Itself?

– June 20, 2017

Blockchain technology could revolutionize the way food supply chains work.


When Digital Currencies Compete, Do You Win?

– June 8, 2017

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.


The Politics of Bitcoin

– May 26, 2017

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 …


Now Is Not the Right Time to Regulate Bitcoin

– May 26, 2017

Regulators should take a wait-and-see approach in rather than crafting new rules for digital currencies now.


Some Perspective on Bitcoin

– May 23, 2017

Bitcoin’s price is hitting all-time highs, but how important is the digital currency in our economy?


Bitcoin: Decentralized Governance Put to the Test

– May 16, 2017

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 …


Don’t Tax Bitcoin Out of Existence

– May 4, 2017

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.


Bitcoin and the Disintermediation of the State

– April 25, 2017

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.


Decision Time for Bitcoin?

– April 21, 2017

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.