Bitcoin is now real estate or something
It is fascinating to watch institutions try to deal with Bitcoin, an innovation which is designed to ignore current institutions. This piece in the USA Today makes a good effort toward shoving cryptocurrency into a box, where it can be mastered and controlled and ignored in favor of bigger authorities. The major news is that the IRS will now call …
Why Warren Buffett is wrong on Bitcoin
My local St Louis homie Vance Crowe hands out a very dignified, respectful backhand to megabank investor Warren Buffett, who recently derided Bitcoin as a “mirage.” Bitcoin allows us to instantly send money to one another securely, without relying on a financial middleman who works bankers’ hours, charges transfer fees, and gambles with depositor’s money with the potential to do …
Bitcoin learns, banking doubles down on mistakes
A couple of weeks ago a did an interview about what the failure of Mt. Gox meant to the future of Bitcoin and cryptocurrencies for a Boston public radio station. Bottom line: Bitcoin and innovations like it are complex, adaptive systems – not bureaucracies – and thus can use mistakes to create a better future.
Thievery and failure may actually improve Bitcoin
MtGox, one of the most prominent exchanges for the Bitcoin cryptocurrency, was recently hacked, causing a potential loss of hundreds of millions of dollars. While this sounds like one reason to not use Bitcoin, I see it a different way. Bitcoin is a complex adaptive system which allows it to improve from failure – it may be what Nassim Nicholas …