It's not clear that Dogecoin's own userbase is keen for the currency to become a replacement for traditional money, or for it to be used as much else than a means of rewarding others on the internet for producing or sharing content.
They call it "digital gold" -- but is Bitcoin the future of money, or a shiny distraction for digital fools?
Created in 2009 by a still-unknown programmer using the alias Satoshi Nakamoto, Bitcoin is now accepted by many merchants all over the world -- yet for most of us, the open-source currency is still an unknown quantity.
The Rise and Rise of Bitcoin, a new documentary making its world premiere at the Tribeca Film Festival next week, tells the story of the strange currency via its pioneers. It explains the "Bitcoin mining" market, and explores the many shadowy subcultures within the Bitcoin community.
- It may be impossible to know exactly how many people are part of the bitcoincommunity, but there’s a new site called bitnodes that is trying to track the number of “nodes” (each representing a server, or a server farm) on the bitcoin network, and it’s turning out some surprising results.
Speculators, known as miners, use powerful computers to solve complex software problems and verify transactions to unlock new bitcoins. They’re finding that the enterprise isn’t as profitable as it once was.
Bitcoin mining, the road to riches for some, is becoming the road to ruin for others, as the costs of the equipment required to mine Bitcoin spirals out of control. Early adopters have made fortunes mining Bitcoin, but late arrivals are finding it difficult to do more than break even and those who are just now entering the Bitcoin mining industry might not even recoup their original investment.
I was invited by the organisers of the 2014 Winter Symposium of the third research group of the Nordic Summer University (NSU), devoted to the concept of crisis, as an Icelandic citizen and scholar to offer a concise picture of the events in our country, which experienced in the year 2008 a much-televised economic crisis or kreppa, as it is called locally. In what follows, I provide two succinct and inevitably selective pictures: one small, another big.
Where did the idea or concept of money originate? That is what this page is setting out to find out. The idea or concept of money has been around for a long time. In fact, many things have been used as 'money'.
“Obviously it gets a lot of press and we have considered it,” Amazon payments head Tom Taylor told Re/code in a recent interview, “but we’re not hearing from customers that it’s right for them and don’t have any plans within Amazon to engage bitcoin.”
I'm very interested in the new paper from Gaudi Eggertsson and Neil Mehrotra (E&M) on secular stagnation. What they have done is to adapt a simple overlapping generations model like Samuelson's consumption-loan model so that the financial asset is represented by a corresponding liability of other agents in the model. This is very similar to something I myself posted on recently, but whereas I used land purchase as the motivation for private borrowing, they have households borrowing to finance consumption ahead of earning income.
One of the most amazing things that occurred as a result of Bitcoin is that opportunities for people to start new businesses increased. As such, a new business has joined the cryptocurrency sphere. Its name is BIGbtc, Ltd. Bitcoin Integration Group and it has just launched a merchant integration program and is also developing a series of “Not Just Another Bitcoin 101” training workshops. It’s main goal is to spread the adoption of Bitcoin.