But you see Jon, transaction COSTs are not the same thing as transaction FEEs. The latter is only a subset of the former. Transaction costs also include any obstacle the state puts in place to prevent free trade. Carl Menger realised this 140 years ago in Principles of Economics: But ...
I've had a curious eye on Bitcoin for a few years now. Through various posts on HN I've followed its ups and downs including the big hoopla over the exchange rate for a Bitcoin reaching parity with the dollar , a figure that is now eclipsed by today's going rate of $12/BC. For those t...
“GIVE me control of a nation’s money supply, and I care not who makes its laws.” So said Mayer Amschel Rothschild, founder of the Rothschild banking dynasty. What would he make of Bitcoin, an online currency with no issuing authority whatsoever? Despite being written off following a s...
The really sad part is, it's not even because we haven't got an answer - we dodge the question because it's a hard one to answer without a lot of economic pretext and de-programming. Most folks have been using government-issued fiat currency their whole lives. It has value to them bec...
BitCoins are a hybrid of two currency models, namely the current world standard of fiat currency (I.E. BitCoins only have value because other people will accept them in exchange for goods and services) and the traditional gold standard due to the availability being limited. Combined w...
The trust issue he encountered he mis-attributed to bitcoin when in fact the issue was with paypal and credit cards. Bitcoin is like cash. There's no "reversal" of charges. Once something has been paid for, it's public record and there's no one-sided taking it back. This is a good thi...
Ever went to tech meetups that were too intimidating to meet anyone due to its size? Hopefully we're here to change that by setting up small meetups (10-20) where everyone can get to know each other a bit easier within the tech community. Why should you join? We're here to attract all...
Bitcoin is an electronic currency built upon peer-to-peer technology. Developed for Node.js, this library wraps Bitcoins JSON-RPC API, allowing managing Bitcoin currency from remote JS-powered apps.
For several months, EFF has been following the movement around Bitcoin , an electronic payment system that touts itself as "the first decentralized digital currency." We helped inform our members about this unique project through our blog and we experimented with accepting Bitcoin don...
The Mt.Gox bitcoin closing price will be greater than 13.13 USD on Oct 5, 2012 The Mt.Gox bitcoin closing price will be greater than 13.13 USD on Oct 5, 2012. The closing price will be determined by the 18:00-23:59 close price in the Mt.Gox one month chart. Info Opening date: Oct. 4, ...
The bacteria is incredibly resistant to this toxic element. In fact, it's 25 times stronger than previously thought. The researchers' compact factory—which they named The Great Work of the Metal Lover —holds the bacteria as they feed it the gold chloride. In about a week, the bacteria...
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Salut prieteni, in acest tutorial video vom continua cu discutia despre Bitcoin pe care am inceout-o acum cateva zile, pentru cei care nu au urmarit tutorialul trecut, a fost vorba despre o introducere in lumea bitcoin, daca nu l-ati vazut va invit sa-l urmariti: Bitcoin, castigati ba...
AFP - Naples on Thursday announced it was setting up a 70-million-euro ($91-million) gift card system -- the "Napo" -- which will function as a local currency aimed at boosting small businesses. "Napos" will be given to shopkeepers, tourists and residents who pay their taxes, entitlin...
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defensedistributed.com "I believe that liberty is the only genuinely valuable thing that men have invented, at least in the field of government, in a thousand years. I believe that it is better to be free than to be not free, even when the former is dangerous and the latter safe. I be...
Bitcoin is a decentralized digital currency. It is an open source project under active development. More info @ bitcoin.org and bitcoin.it : Getting Started FAQ Common Myths Bitcoin Merchants Community rules Do not use URL shortening services: always submit the real link. News article...
Quote from: LegalEagle on October 04, 2012, 04:06:40 AM In the same way a $5 bill is worth five $1 bills. What challenges would this present? Is this technically feasible? Would it help stabilize the currency? Discuss. The purpose of different bill denominations is value compression. ...
The size of an economy is a very important measure, and also a measure that is very hard to define. The usual way of measuring economy size is GDP . But this measure is very hard to calculate right and it is vulnerable to political influence . Now, we want to measure the size of the B...
