Cryptocurrency opened up the floodgates of monetary innovation a century after the enterprise had been shut down.
Tag - bitcoin
All the current chaos is a symptom of Bitcoin’s successes, not its failures.
In Venezuela, the IMF has estimated that the inflation rate will surpass 700 percent by the end of the year, meaning that citizens’ wages will be worth only a seventh of what they were last year. If history is any guide, things will only continue to spiral out of control after that.
In 2013, I designed and built a cryptocurrency exchange for the China market. The basic concept & architecture only took a few days, but the full implementation required several years. I shared the basic architecture in 2013, and with the recent spike in interest in Bitcoin and...
People are using Bitcoin as a hedge against potential disaster in much the same way that people tend to stock up on gold when the future looks shaky.
The Argentinian government has decided that User is not welcome in their country, and has ordered credit card companies to stop doing business with them.
“That will be $3.59.” The cashier at this New Hampshire campground coffee shop had totaled the amount for my coffee and English muffin. She had to look at a list of prices and punch them into the cash register, one digit at a time. When I gave her $1 bills, she put that amount in too. The...
Finally Apple has relented. It will start accepting Bitcoin trading apps on the iPhone and iPad. They once did, but then backed off, leaving users stranded for a year. Faced with user revolt and an intensifying sense that Bitcoin is here to say, Apple reverted to its previous policy of...
We think we know but then, it turns out, we don’t know. That’s the main lesson I’ve gained from watching the extraordinary rise of Bitcoin, from an obscure protocol released on an Internet forum five years ago, to today’s global currency and payment system that...