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 …
Bitcoin is real even if you think it’s a joke
I’m writing about alt currencies for this month’s Garland Report Monthly, and Bitcoin is front and center. That’s why I love this analysis of how Bitcoin has become a global sensation, based on nothing but social construction – from the blog Deus Ex Machina. Bitcoin, BTC (or $BCOIN on StockTwits) is a decentralized value transfer protocol. It is an anarcho-capitalist …
Bitcoin goes from freaky startup to venerable incumbent
It is amazing to me that Bitcoin has gone from the subject of derision in the media to the subject of a slideshow that lists it as the incumbent to beat. My word, does that make Bitcoin…respectable? In this megatrends feature, CNBC features some of my insights about which alternative currencies make the most sense, and why. Some are Bitcoin …
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