25 Apr '15, 4pm

Bitcoin Is Not A Sprint, It's A Marathon (Op-Ed) #Bitcoin #Standard

Bitcoin Is Not A Sprint, It's A Marathon (Op-Ed) #Bitcoin #Standard

The first time I heard about Bitcoin I wasn't very impressed. As an anarchist with an Austrian economic background, it didn't make much sense to me right away. I was hard pressed on the collection of precious metals - after all, I had studied the likes of Rothbard and the great gold standard. But when I began to research the integrity of the Bitcoin protocol I had become more addicted to learning about it. I spent hours of my evenings trying to figure out where the value came from. Its regression as far as Mises was concerned and all the great economists. Little did I know at that time the answers to questions such as value and regression were much simpler than I had expected. Its value can rightly be regressed back to its users giving substance and trust to its algorithmic equation; to the encryption itself. Users of the network trust that bitcoins cannot be digitally pri...

Full article: http://cointelegraph.com/news/114076/bitcoin-is-not-a-spr...

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