Bitcoin will start its transformation from a mere currency into an entire open-source. Bitcoin’s valuation didn’t just skyrocket in 2013, but its infrastructure, services, and adoption exploded as well, culminating in recent announcements that major online retailer Overstock.com and NBA team the Sacramento Kings would accept the digital currency as payment.
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Bitcoin What should we be thinking about a currency like Bitcoin? The first thing we should remember is that money is a sort of collective fiction. What money we choose to trust says much about how we see the world.
In the cryptocurrency world, Bitcoin (and Litecoin) garner the most attention, but there are now 83 (and counting) virtual currencies to store your wealth in. Bitcoin’s market cap is over $10 billionis and is by far the highest but we wonder whether the miasma of mimiccers – from Unobtainium to the ironically-named StableCoin and from ‘Philospher Stones’ […]
China’s shadow banks have increased credit from 120 to 190 percent of GDP. A historic credit boom, unregulated lenders promising high, “risk-free” returns, and surging property prices making it all go – is this the U.S. in 2004, or China in 2014?
The U.S. Marshals will likely auction off the Bitcoins. The online drug bazaar, Silk Road, was taken down this past October by the feds. Nearly, 30,000 bitcoins in Silk Road’s coffers was seized in the process. Last week, the Manhattan U.S. Attorney’s office, which is prosecuting the Silk Road case, announced that a judge had […]
The use of Bitcoin will evolve beyond ‘store of value’ or ‘transactions’ There was a lot of speculation and excitement about Bitcoin in 2013. A good way to start 2014 is with a list of predictions for Bitcoin. These predictions are based on growth patterns of similar networks, the traction in various ecosystem activities last […]
The Target hack shows our payment systems are in big trouble. The problems with debit and credit cards are no longer about high-tech skimmers at gas stations and restaurants. Things have gotten worse, not better. According to a December 19 update on the Target problem by security reporter Brian Krebs, as many as “40 million credit and […]
Is there a retirement saving crisis in the U.S.? A study recently released by the National Institute on Retirement Security shows we are in bad shape. Retirement saving is dangerously low especially for people without retirement accounts. Let’s take a look at the data.
The Reserve Bank of India says it is “closely watching” the growth of bitcoins. The virtual currency, Bitcoin, has been gaining popularity globally this year and is catching the attention of India’s youth.
The Northeast region shows a kind of wealth belt unmatched even on the West Coast. America is a tremendously unequal place at the county level. In 2012, the median household income in the poorest county (Wilcox County, Alabama) was $22,126. In Falls Church, Virginia, where highly educated defense contractors and federal government workers cluster, the […]