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Bitcoin replaces trust with cryptography to provide a monetary system without surprises

Bitcoin, the digital cryptocurrency designed to enable anonymous peer-to-peer financial exchanges without the involvement of third parties, is having serious teething problems. However, most such problems are associated with bitcoin storage or conversion, and should settle down as the currency is more widely accepted. Assuming this happens, let's look at the strengths and weaknesses of a mature Bitcoin currency in a modern economy.  Read More

This used 2013 Tesla Model S was purchased for 91.4 Bitcoins (Photo: Lamborgini Newport Be...

The value of a thing is what it will bring, or so says an old financial aphorism. It appears that the value of Bitcoins earlier in the month was such that 91.4 Bitcoins had the same value as a used Tesla Model S in Newport Beach, a quiet beach town midway between LA and San Diego in California.  Read More

The Bitcoin - global anarchist financial revolution, giant scam, great investment or some ...

This could turn out to be one of the most remarkable stories of our era – or one of the biggest scams in human history. Bitcoin, the anonymous digital currency, is more than four years old now, and a single bitcoin has gone from being worth literally nothing in 2009 to being worth nearly US$30 at current market values. Here's a quick primer on the Bitcoin system, how some anonymous programmers managed to create 300 million dollars out of thin air, what you can do with bitcoins, and a few words of warning.  Read More

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