Tag - bitcoin

Venezuelans Turn to Bitcoin to Escape Currency Crisis

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.

A Pocket Full of Change

“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...

How Progress Happens: The Case of Bitcoin

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...

Reflections on Glenn Beck and Bitcoin

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...

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