16 Apr '13, 1pm

John Quiggin

John Quiggin

The sudden drop in the value of Bitcoins, the hot new Internet currency, has added urgency to the question of whether Bitcoin is the way of the future, or just another bubble. Not to keep readers in suspense, the answer is a bubble, but a particularly interesting example of one. In particular, Bitcoin represents what ought to be the final refutation of the efficient-markets hypothesis, which still guides most regulation of financial markets. Before going any further, what is Bitcoin? As with any question nowadays, Wikipedia provides a good initial explanation and plenty of references. For our purposes, however, the most important fact is that bitcoins are initially produced by running difficult (but useless) algorithmic calculations. By analogy with gold, the producers are called miners. The number of bitcoins that can be produced has been set to a predetermined schedule (...

Full article: http://nationalinterest.org/commentary/the-bitcoin-bubble...

Tweets

Bitcoin

Bitcoin

huffingtonpost.com 16 Apr '13, 6pm

Bitcoin prides itself on being a decentralized currency supported by a decentralized group. So how did you come to have th...

Beyond The Bitcoin Bubble

Beyond The Bitcoin Bubble

techcrunch.com 13 Apr '13, 1pm

A few months ago, while visiting a hacker friend’s magnificent new San Francisco loft, he gestured to a little alcove stuf...

Was the Bitcoin Flock Just Sheared?

streetwiseprofessor.com 14 Apr '13, 3am

The virtual “currency” Bitcoin has been much in the news lately, due to its meteoric rise in price, and even more precipit...

Winklevoss twins back bitcoin as bubble bursts

telegraph.co.uk 12 Apr '13, 12pm

Some say this is a result of hackers staging a DDoS (distributed denial-of-service) attack, where lots of spurious request...

Bitcoin

Bitcoin

money.cnn.com 12 Apr '13, 12pm

Trading in Bitcoins on Mt.Gox since Wednesday. NEW YORK (CNNMoney) The price of Bitcoins has plunged more than 75% in the ...

Keiser Report: Bitcoin Bubble Buzz (E431) @maxk...

youtube.com 13 Apr '13, 5pm

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Old Lady's gold habit, the gold that may be...

What Does The Future Hold For Virtual Currencies Such As Bitcoin? [You Told Us]

What Does The Future Hold For Virtual Currencie...

makeuseof.com 17 Apr '13, 2am

Virtual currencies, or digital currencies if you prefer, have been in the news a lot lately. Not just the technology news ...

Why Bitcoin is a Bubble via @thedailybeast

Why Bitcoin is a Bubble via @thedailybeast

thedailybeast.com 10 Apr '13, 7pm

Look at tax havens, which are starting to cave under pressure from countries with stricter banking laws. This has been a b...

Nobody Knows If Bitcoin Is A Bubble: It has bec...

forbes.com 10 Apr '13, 4pm

It has become almost obligatory for mainstream journalists writing about Bitcoin to describe the currency’s current value ...

Could Bitcoin be the money of the future?

Could Bitcoin be the money of the future?

detlevschlichter.com 23 Apr '13, 10am

The same has, in fact, happened in the case of paper money. The paper notes that are used as money today did not start the...

'Bitcoin is clearly a bubble'

telegraph.co.uk 05 Apr '13, 8pm

That is why gold has been so much in demand during the financial crisis – and popular with shrewd sceptics in the years be...

The Bitcoin Money Myth

mises.org 17 Apr '13, 2am

Many economists and financial commentators believe that in the unregulated market of the internet economy, new forms of mo...

Should You Accept Bitcoin as a Payment Method?

Should You Accept Bitcoin as a Payment Method?

getelastic.com 16 Apr '13, 8am

Bitcoin, the mysterious and (currently) volatile decentralized virtual currency that relies on cryptographic mathematics t...

Bitcoin Celebrated As Way To Avoid Taxes

huffingtonpost.com 16 Apr '13, 5pm

The issue (as I see it) is that Bit-coins have no real negotiable worth other than "Stated worth". It's not like Gold, whi...