Tag Archives: Bitcoin

Under the Microscope: The Real Costs of a Dollar

Posted on by

“Once upon a time, most paper currency in the world was backed by gold and directly exchangeable for it.  On August 15, 1971, US President Richard Nixon ended the Bretton Woods System (Ghizoni, 1971), in what is now known as ‘The Nixon Shock’, allowing all currencies to float freely, with only the backing of the faith and credit of their issuing sovereign state. This type of currency is known as ‘fiat currency’, i.e., currency that is given value by government decree (Keynes, et al., 1978). This report will not discuss the relative merits and drawbacks of gold-backed currency and fiat-money, only the triple-bottom-line impacts of each.”

http://www.coindesk.com/microscope-real-costs-dollar/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

A Libertarian Testing Ground For Bitcoin, 3D Printers, and Drones

Posted on by

“I discovered that this isolated group has fully adopted Bitcoin, and that it’s extremely enthusiastic about other ‘freedom-enhancing’ technologies such as 3D-printers and encryption. Everyone I met in the Project owned Bitcoin and was willing to accept it for goods and services. Of the couple thousand people living there, at least seven own 3D-printers. Though the idea originally was to get a critical mass to influence the political process, many in the movement now feel that the freedoms they want may be better realized through technology that routes around the government rather than engaging it directly.”

http://www.forbes.com/sites/kashmirhill/2014/06/12/the-free-state-project-a-libertarian-testing-ground-for-bitcoin-3d-printers-and-drones/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

The Peer-to-Peer Economy: Death Blow to the State

Posted on by

“The most radical application of this idea concerns money and finance. After one-hundred years of government production of currency, and government sponsorship of banking institutions, P2P networks are now providing payments systems, loan markets, and even currency units such as Bitcoin. The implications of this are of course remarkable to consider. It’s one thing to dispense with the need for film processing; its something else entirely to toss away central banks, regulated stock markets, and departments of treasury. These are the heart and soul of political power itself.”

http://tucker.liberty.me/2014/05/05/the-peer-to-peer-economy-death-blow-to-the-state/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

The Men Who Owned Bitcoin.com

Posted on by

“The interesting thing about all three men with whom we spoke is that they are all almost compulsive entrepreneurs. Mr. Heitler runs an online marriage counseling business and is considering building a business supplying electricity to bitcoin miners. Mr. Lowy said he is involved in building ‘bitcoin 2.0’ companies and is managing his clutch of domain names. Mr. Kenna runs a ‘hacker house’ in San Francicso, has another business selling ‘paper-wallet’ printers, and is working on another project about which he spoke of only off-the-record.  They have one other thing in common: they all owned, for a period of time, the crown jewel of cryptocurrency URLs.”

http://blogs.wsj.com/moneybeat/2014/04/22/bitbeat-the-men-who-owned-bitcoin-com/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

The Future Of The Blockchain

Posted on by

“There’s been discussion about whether Bitcoin is a currency, a commodity, or a technological protocol. There are good arguments for each categorization, but each is unsatisfying in some way.  Now we know why this debate is so unsatisfying. Bitcoin represents a novel form of organization — a blockchain-based entity — that’s not quite like anything seen before it.”

http://www.businessinsider.com/the-future-of-the-blockchain-2014-4

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Removing Impediments to Bitcoin’s Success

Posted on by

defense-pentagon-bitcoin-terrorism.si_1

“The foundation’s work to standardize, protect, and promote Bitcoin is fostering the development of a new economic, commercial, and (in some respects) social system, so there’s no end to the things we might do. Prioritizing our efforts is key. So today, I’m pleased to announce the release of my study, called Removing Impediments to Bitcoin’s Success.  It is essentially an orthodox risk management study. The study first seeks to capture what makes Bitcoin an asset worth protecting. Then the study calculates the threats to Bitcoin in each of its key dimensions. Finally, the study groups together areas of risk, identifying potential measures of success or failure in efforts to respond to them.”

https://bitcoinfoundation.org/2014/04/02/removing-impediments-to-bitcoins-success-and-your-role-in-holding-us-to-account-2/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Niall Ferguson: Networks and Hierarchies

Posted on by

“The near-autarkic, commanding and controlling states that emerged from the Depression, World War II, and the early Cold War exist only as pale shadows of their former selves. Today, the combination of technological innovation and international economic integration has created entirely new forms of organization—vast, privately owned networks—that were scarcely dreamt of by Keynes and Kennan. Are these new networks really emancipating us from the tyranny of the hierarchical empire-states? Or will the hierarchies ultimately take over the networks as they did a century ago, in 1914, successfully subordinating them to the priorities of the national security state?”

http://www.the-american-interest.com/articles/2014/06/09/networks-and-hierarchies/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Bitcoin Mining Pool Ghash.io DDoS-ed in Response to 51% Status?

Posted on by

“Ghash.io has not yet replied to requests for comments, but bitcoiners speculated that Ghash.io was DDos-ed due to ongoing concerns over their share of hashrate distribution.  Although the decrease in hashrate may only be temporary, the DDos may act as a warning, not only to Ghash.io, but to all pools who may gain too great a share of the hashrate distribution to the point where the decentralized nature of bitcoin is placed in danger as it is likely that income would have been lost during the DDos period which may cause miners to reconsider whether they wish to partake in a pool that seems to be at the frontline of criticism.”

http://www.cryptocoinsnews.com/news/bitcoin-mining-pool-ghash-io-ddos-ed-response-51-attack/2014/06/15

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

Roger Ver: Why Bitcoin is Important for the World

Posted on by

“‘Why Bitcoin is Important for the World’ by Memorydealers KK Bitcoin evangelist Roger Ver for Coin Congress 2014.”

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet

US govt to auction $18mn worth of bitcoin seized from Silk Road

Posted on by

“The Department of Justice is looking to make a considerable windfall from the sale with bitcoin increasing in value recently.  The now-defunct cyber-black market was closed down in October of last year.  Nine months on the US Marshals service is preparing to auction 30,000 bitcoin of the Silk Road stash.  The sale of the bitcoin will take the form of an online auction which will take place on June 27. Participation in the auction will not be cheap, with buyers required to make a refundable deposit of $200,000 to a government bank to take part. The bidding itself will take place over a period of 12 hours where blocks of 3,000 Bitcoin (or about $1.8 million each) will be up for grabs.”

http://rt.com/usa/165692-bitcoin-silk-road-siezed/

Scan to Donate Bitcoin to Freedomwat.ch Staff
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Donate via Installed Wallet