Ed Moy, who was head of the US Mint from 2006-2011, shares his thoughts on digital currencies and Bitcoin in particular via Money News. Moy says: “The next five to 10 years will be critical. But like how the mobile devices, Internet, cable, television, movies, musicals, operas and symphonies all have found their niches, the […]
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image: freshphoto Bitcoin has a woman problem that, unless solved, will keep it from hitting the mainstream as a medium of exchange, at least in the US. The following conversation is primarily aimed at the particular challenge Bitcoin faces in getting to mainstream adoption, and is not focused on the speculative rises and falls that […]
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Things just got very interesting in the bitcoin space. Andreessen Horowitz, never a firm to shy away from large bets, just invested $25MM into Coinbase. It looks like other current investors including Union Square Ventures and Ribbit Capital were also a part of the Series B raise. The story from AllThingsD: “If you’re a bitcoin […]
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Many things follow a “power law” distribution (sometimes also called the Pareto principle or 80/20 rule), where a small fraction of the available resources in a system are held by relatively few members of that system. In particular, power laws seem to apply to the concentration of wealth. While this is speculative, if there is […]
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Lamborghini of Newport Beach announces that they’ve sold a used Tesla Model S for bitcoin. According to the Launch ticker, the price was 91 BTC.
Read More...MerrillLynch / Bank of America have released a report on bitcoin. Key points from their intro: Tamper-proof, limited supply and divisibility – “We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers. As a medium of exchange, Bitcoin has clear potential […]
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Two more household names are now accepting bitcoin. WordPress.com, the engine behind millions of websites, now accepts bitcoin as payment for hosting fees. According to a blog post by Andy Skelton on the WordPress blog, “At WordPress.com, our mission is making publishing democratic — accessible and easy for anyone, anywhere. And while anyone can start […]
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“While the Federal Reserve gave tacit approval, stating ‘virtual currencies like bitcoin have legitimate uses and should not be banned,’ the IRS has not yet issued tax guidance. Despite the lack of guidance, income from bitcoin transactions must be reported.” Read more. Via Forbes – link
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“Bitcoin’s recent meteoric rise in value to over $1,000 has shone the spotlight on alternative currencies, but bitcoin is not the only new digital currency vying for relevancy in 2013. Like bitcoins most of these currencies are mined by computers solving hard mathematical problems. The “coins” do not exist physically, of course, as the currencies […]
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Joel Weisenthal in Business Insider writes “I’m changing my mind about Bitcoin. I used to think it was a joke or at best a currency for clowns. Now, I no longer think that. Now, I don’t know what its future is.” Thoughtful article and worth a read: http://www.businessinsider.com/im-changing-my-mind-about-bitcoin-2013-12#ixzz2mGbX5PWV
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