An Open Letter to Joseph Stiglitz on Bitcoin
In the words of fellow Nobel Laureate Bob Dylan, “don’t criticize what you can’t understand.”
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Bitcoin 10,000 Highlights Conflict Between Asset and Currency
To maintain a high value in the long run, and thus be used as a currency, Bitcoin’s dramatic rise will eventually have to moderate.
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Intrinsically Worthless to Whom?
Money is not about one person in isolation. It is social.
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Smart Contracts Can Reduce Incentives to Commit Fraud
This is the third and final article in a series about blockchain-enabled “smart contracts” and their ability to address retail fraud.
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Cryptocurrency Taxation: Looking for Light at the End of the Tunnel
Imagine if every time you bought a sandwich for a few dollars, the IRS forced you to treat as capital gains or losses any change in value of those dollars on the foreign exchange market since the time you earned them. That’s the way the U.S. government treats two legitimate forms of currency: gold and cryptocurrencies.
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In Defense of Bitcoin Gridlock
Bitcoin’s messy governance structure might be protecting the currency, rather than preventing quick, strategic decisions.
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Separating the Technology of Bitcoin from the Medium of Exchange
The high price of bitcoin serves as a reminder of its rigid supply, which might ultimately be its undoing.
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Are Smart Contracts the Future of Fraud Prevention?
This is the first in a series of three articles about blockchain-enabled “smart contracts” and their ability to address retail fraud.
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Bitcoin Must Centralize, But Where?
While 2017 has seen massive increases in the price of Bitcoin, it might also be remembered as a sobering year for the cryptocurrency’s early adopters and supporters.
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How Important Are Bitcoin’s Network Effects?
Analysts often speak of the possibility that Bitcoin, Ethereum, or another entrant will become the dominant cryptocurrency. But are we taking for granted that there must be a single winner?
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Bitcoin Adoption: Evolution or Revolution?
If widespread use of Bitcoin or another cryptocurrency is truly in our future, some series of events will have to disrupt the status quo. Broadly speaking, I see two possibilities, which I’ll call the revolutionary and evolutionary approaches.
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CMRE Speakers Present Vastly Different Visions for the Future of Blockchain Technology
On October 3, the Committee for Monetary Research and Education held a dinner in New York City featuring four distinguished speakers on the topic of blockchain technology versus fiat currency.
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