13 Jul '13, 3pm

Bitcoin will prosper — until governments or banks decide to crush it overnight

Every currency created since the advent of money 2,700 years ago has fit nicely into one of two classifications: Either it was a representative money system, deriving its worth from a link to some physical store of value like gold, silver or gemstones; or it was fiat , deriving its value from the fact that a government or central authority guaranteed it. Bitcoin, the world’s most successful digital currency, defies this time-tested classification system: It is neither fiat nor representative. It is not fiat, because its supply is actually finite and, more importantly, it lacks any central backing authority. (Click here for a good primer on the tech behind Bitcoin). Nor is it representative, because it is not linked to anything physical. Thus the internet has (once again) spawned a phenomenon that is inexplicable via conventional economic frameworks. As economists study the...

Full article: http://gigaom.com/2013/07/13/bitcoin-will-prosper-until-g...

Tweets

Backorder for Collection 126 + Current Backorde...

thedesignclosets.com 15 Jul '13, 2am

Please kindly send an email to [email protected] , if you are interested in any of the items. Remember to state t...

#bitcoin volatility markets have arrived.

twitter.com 13 Jul '13, 3pm

When you tweet with a location, Twitter stores that location. You can switch location on/off before each Tweet and always ...

What everyone should know about bitcoin - Technology Zimbabwe #bitcoin

What everyone should know about bitcoin - Techn...

techzim.co.zw 15 Jul '13, 6am

Your wallet can be hacked (https://en.bitcoin.it/wiki/Weaknesses ) They can drop in value after you buy them. This year al...

Kenyans Will Soon Be Able To Send Bitcoin By Phone

mobile.slashdot.org 12 Jul '13, 9am

wildly popular mobile payment system in Kenya , which allows citizens of a country with a poor banking infrastructure to e...

Do we need Satoshi Nakamoto’s face on a physical bitcoin?

Do we need Satoshi Nakamoto’s face on a physica...

coindesk.com 14 Jul '13, 4pm

Mark Carney’s initiation at the Bank of England last week coincided with two tech conferences in Canary Wharf about the fu...

Understanding Bitcoin

cato.org 16 Jul '13, 9pm

The Cato Institute tops a new measure of think tank performance in the United States, according to a recent report . Cato ...

The Internet Archive has become the unlikely sa...

wired.com 15 Jul '13, 10pm

Brewster Kahle walks into the San Francisco offices of the Internet Archive. Photo: Ariel Zambelich/Wired Recently, Kinnar...

Japan Will Help Kenya Unlock Its Geothermal Pot...

spectrum.ieee.org 13 Jul '13, 10pm

JICA’s assistance will help build geothermal plants in Menangai 1 and 2, Suswa, and other geothermal fields. According to ...

How The NSA Scandal Is Good For The Bitcoin Eco...

silveristhenew.com 15 Jul '13, 7pm

Be prepared for the next great transfer of wealth. Buy physical silver and storable food . goldsilverbitcoin.com / By Just...

Bitcoin

wired.com 15 Jul '13, 1pm

Brewster Kahle walks into the San Francisco offices of the Internet Archive. Photo: Ariel Zambelich/Wired Recently, Kinnar...

Study: Governments support EVs not for eco bene...

green.autoblog.com 20 Jul '13, 10pm

Economists have long argued that there's no better medicine for an ailing economy than a good old-fashioned war. Now, some...

bitcoin

reason.com 15 Jul '13, 8pm

Regulations from which country? While I understand the legitimacy a certain level of regulation provides, opening your arm...

Check out: Governments support EVs not for eco ...

green.autoblog.com 20 Jul '13, 11pm

Economists have long argued that there's no better medicine for an ailing economy than a good old-fashioned war. Now, some...