26 Sep '15, 4pm

This Bitcoin chip is supposed to be the future of micropayments. I'm skeptical.

The 21 Bitcoin Computer, which was unveiled this week , is one of the most highly anticipated products in the Bitcoin world. The company behind it, 21 Inc., has raised $120 million from prominent investors like Paypal co-founder Peter Thiel and the well-known firm of Andreessen Horowitz. According to this list of Bitcoin investments, that makes it the most lavishly-funded Bitcoin startup ever. So this week's announcement left a lot of people confused. For $399, you can get a tiny computer with a customized chip that allows you to generate bitcoins. An incredibly small quantity of bitcoins, in fact — according to one back-of-the-envelope calculation, it will generate around 10 cents worth of bitcoin per day if run constantly. And depending on where you live, the electricity required to power the device could cost more than the value of the bitcoins generated. Related Bitcoi...

Full article: http://www.vox.com/2015/9/26/9401309/21-bitcoin-computer-no

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