Some people would say Bitcoin is more like 1.0. but efforts at cryptocurrencies date back to the 1980's.
Bitcoin is a triumph but as with many success stories, it is wrought with failure, some of which might never be resolved.
When we think of the revolutionary ideas launched from an Internet platform--Ebay, Craigslist, Youtube, Uber--none is as Earth-shattering as cryptocurrency. Ultimately, they might all flop but I doubt that they will leave the current system in peace.
This is a nice intro to Bitcoin but there is a snide politically correct narrative. Thus, the title "The Bitcoin Gospel." Did you catch the clever religious comparison? And the founders who are referred to as evangelists and political absolutists. As if the fluffy can never be zealots. Taken with a grain of salt, this is a good introduction to Bitcoin and cryptocurrencies.
Showing posts with label Bitcoin. Show all posts
Showing posts with label Bitcoin. Show all posts
Friday, May 20, 2016
Tuesday, May 3, 2016
Satoshi Nakamoto Comes Forward
Five years from now cryptocurrencies will be either the biggest collective flop since the Soviet Union or the best thing ever hatched by the Internet. Cryptocurrencies in general and Bitcoin in particular are writing intriguing histories.
The dollar is on shaky ground despite what the pundits might tell you. Cryptocurrencies might provide safe harbor in a Weimar scenario. Right now the harbor is tiny and it is turbulent.
"Who is John Galt?" is a question that haunts the characters of "Atlas Shrugs". When life imitates art, we ask "who is Satoshi Nakamoto?" In an age of Big Brother on steroids the world's top journalists were unable to unmask the founder (or a founder) of Bitcoin.
On the day Australian Craig Wright outed himself as Nakamoto, Bitcoin lost one third of its value. That is a big story but the ongoing tale is the upward spiral of Bitcoin. From a fraction of a cent in 2008 to $900 a couple of days ago, Bitcoin is by any measure a success story. Craig Wright has amasses a fortune worth hundreds of millions of US dollars .
The Bitcoin saga is probably too complicated for our electronic media to embrace. With hucksters and sideshows galore, this might be the most interesting story not on TV.
The dollar is on shaky ground despite what the pundits might tell you. Cryptocurrencies might provide safe harbor in a Weimar scenario. Right now the harbor is tiny and it is turbulent.
"Who is John Galt?" is a question that haunts the characters of "Atlas Shrugs". When life imitates art, we ask "who is Satoshi Nakamoto?" In an age of Big Brother on steroids the world's top journalists were unable to unmask the founder (or a founder) of Bitcoin.
On the day Australian Craig Wright outed himself as Nakamoto, Bitcoin lost one third of its value. That is a big story but the ongoing tale is the upward spiral of Bitcoin. From a fraction of a cent in 2008 to $900 a couple of days ago, Bitcoin is by any measure a success story. Craig Wright has amasses a fortune worth hundreds of millions of US dollars .
The Bitcoin saga is probably too complicated for our electronic media to embrace. With hucksters and sideshows galore, this might be the most interesting story not on TV.
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