1. Mochizuki is the kind of genius who could create bitcoin. Whoever created Bitcoin has the intellectual might of Isaac Newton, says Nelson. Mochizuki’s work as a mathematician has cracked some of the simplest and toughest problems in his field, attracting global media coverage . “It...
This past weekend I attended the Bitcoin 2013 conference in San Jose, where over one thousand enthusiasts, developers, entrepreneurs, venture capitalists, and, yes, lawyers gathered to chart the future of the virtual currency. Here are the top three things I learned at the conference....
Let's stipulate that it is year N, in which no state-monopoly currencies have survived. What does bitcoin look like in this environment, when compared as a currency with various competing currencies, and when compared with investment instruments. I do not see how commodity-backed curr...
Bitcoin is revolutionary because it solves the double-spending problem without employing an intermediary; there is only the payer and the payee. The system accomplishes this by distributing the ledger of transactions across a peer-to-peer network of users, much like BitTorrent. This a...
Credit: TraderTim / Foter.com / CC BY-SA As was noted earlier on Reason 24/7 , Bitcoin now holds more value than the entire currency stock of 20 nations. Granted, the 20 nations in question (which include Bhutan, Guinea-Bissau, Samoa, and the Central African Republic) do not include i...
Last week, the Treasury Department's Financial Crimes Enforcement Network (FinCEN) made waves in the Bitcoin community by releasing a statement of guidance that paid special attention to virtual currencies. Patrick Murck, who provides legal council to Bitcoin.org and contributes to th...
Credit: zcopley / Foter.com / CC BY-SA Yesterday, Jeff Berwick, founder of StockHouse.com and CEO of TDV Media, said that he plans to open a Bitcoin ATM in Cyprus. Perhaps not surprisingly the cryptocurrency is becoming increasingly popular in southern Europe. From PRWEB : Interest in...
Reason The great Cypriot bank account grab of 2013 may or may not be off. Sure, Cyprus's lawmakers rejected a proposal that would carve a chunk out of the deposits of every depositor in the country, but officials are back for another try. The latest proposal would nationalize the coun...
On Wednesday, BitPay , the world's leading Bitcoin payment processor, introduced a new WordPress tool integrating its services with Fulfillment by Amazon which stores, packs, ships and provides customer service to those using the Amazon marketplace, is available to merchants who do no...
Zack Harvey from New Hampshire has graced the world with its very first Bitcoin ATM . Bitcoin is the worlds first decentralized virtual currency. This currency has only been around for four years and has already gained a following among critics of central banking. Credit: Adam Crowe/ ...
Bitcoin is back. The digital currency—which, unlike the cash in your wallet, is not issued by a central bank—has surged this year on bitcoin exchanges, hitting a new high today above $31. Bitcoin hasn’t traded at this level since June 2011, which is an ominous observation since that p...
In the charming town of Great Barrington, among the hills of Berkshire County in western Massachusetts, you can buy antiques, organic produce, and gourmet pizza. If you want, you can pay for them with the most successful local currency in the United States, the "Berkshare." Denominate...
The federal government says online gambling is a no-no. In the last few years, the Justice Department has made it very clear: You can't just open up an offshore casino online and start taking bets using actual money from the United States. But last year, a couple of entrepreneurs aske...
Greater demand for virtual currencies could have a negative impact on the reputation of central banks, according to a report published by the European Central Bank in October last year. Since the report was released, bitcoin has risen more than 55 percent against the dollar and use of...
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: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comm...
At online store coinDL.com, shoppers can use bitcoins to buy Beyond Matter, the latest album from Iranian artist Mohammad Rafigh. Anyone in the U.S. downloading songs, which fetch .039 bitcoins or 45¢ each, risks violating U.S. sanctions. That doesn’t bother Rafigh, who’s studying com...
Some people are more concerned with Norway being a socialist utopia built on a house of cards than they are about anything else. Because it is socialist, it must be bad. Don't get me wrong, the people of Norway are economically retarded, and their socialist utopia is fine and dandy no...
