While I abhor financial reporting regulations and find them to be the efforts of a totalitarian regime that feels entitled to know all of its subjects financial dealings, after reading a recent WSJ article on Bitcoin regulations, I have come to realize that, in the long run, they don’t really matter. As long as...
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Bitcoin
Articles related to the peer-to-peer digital commodity/currency called Bitcoin.
Why Bitcoin Exchange “Regulation” Doesn’t Matter In The Long Run
Feds Seize Largest Bitcoin Exchange’s Bank Account On Dubious Legal Grounds
In the latest Bitcoin news, the largest bitcoin exchange has had its US bank account seized by Homeland Security Investigations for failing to register as a “money transmitter” in the US. HSI apparently had someone setup a Mt. Gox account and transfer funds between Dwolla and Mt. Gox in order to buy and sell bitcoins....
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Using The Nash Equilibrium and Mutually Assured Destruction To Bypass Bitcoin Currency Exchanges
A fascinating concept has been created by software developer Seong Yup Yoo. Mr. Yoo has created a website that allows people to exchange fiat money for Bitcoins directly with each other without having to use a third party exchange. He has accomplished this task by incorporating the concepts of mutually assured destruction and the Nash equilibrium. The...
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The Bitcoin Crash – What Happened?
Read this article on PolicyMic. A major correction in Bitcoin prices occurred today, with the price plummeting from a high of $266 to a low of $105, last time I looked, it was back above $170 and climbing. In this article, I would like to discuss why this occurred and what it means for...
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A Rebuttal To Bitcoin: Money of the Future or Old-Fashioned Bubble?
At this point, I’m starting to become frustrated with the Mises Institute’s constant bashing of the Bitcoin currency by various authors who do not have a firm grip on just what Bitcoin actually is or what it represents. The latest anti-Bitcoin article to grace the pages of Mises’ website was written by Patrik Korda, a...
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Technologies To Save Us From Ourselves: Force Fields and Bitcoins?
I often say that violence is incapable of solving social problems, but I also often fail to address just what exactly will solve social problems. In this article, I want to discuss a few hypothetical pieces of technology that would change the world we live in for the better. In today’s society, we...
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European Central Bank Report On Bitcoin: It’s Likely To Grow And It Poses Risks
The European Central Bank (ECB) recently issued a report on digital currencies. The report largely revolves around Bitcoins and Linden Dollars, and provides a review of the currencies from the perspective of central bankers. Unsurprisingly, they found the currencies to pose “risks” that potentially require future “regulation.” Here’s a few of the highlights that...
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The Austrian School Theory to be Presented Before Congress: Gold vs. Bitcoin
Economist Jeffrey Herbener will be presenting a statement before the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives today in which he presents the Austrian theory of money and credit, and in which he makes the case for market management of the money supply. I disagree with some of what Herbener is presenting, so...
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WBGO New York Jazz Station Bitcoin Exposé
Featuring your’s truly! This was aired all over New York.
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Fractional Reserve Banking With Bitcoins
I recently got into an argument over on the Reddit Bitcoin boards where I held the position that fractional reserve banking with Bitcoins was not possible. I’ve repeatedly made this claim before due to the fact that I think no one would accept receipts for Bitcoins (bank notes) over actual Bitcoins. However, the argument...
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