The Brain Bar is central Europe's leading festival of ideas and technology. This year, the event featured Jeffrey Tucker as the opening keynote to speak about cryptocurrent and blockchain technology and its meaning and future.
Here is a video wrap up of the event. ...more
Tether is a highly capitalized cryptoasset that is distinguished in the space by maintaining a dollar peg to the price of its asset. The growth of this asset has been incredible, as has been the speculation that it maintains too close a relationship with the exchange Bitfinex. It has even been accused of manipulating prices ...more
Storing Bitcoin should be simple. A Bitcoin wallet can be generated from a list of 12 or 24 pseudo-random words (the “mnemonic recovery phrase”). With some wallets, the same words will generate a valid wallet for most existing cryptocurrencies. This word list can be written on paper and placed in a safe (known as “cold storage”), ...more
Understanding how Bitcoin ownership works requires understanding what it means to “own” a single Bitcoin address. At a practical level, Bitcoin ownership means the ability to send some amount of Bitcoin from one address to another or to cryptographically prove that one has that ability by “signing” a Bitcoin address. At a technical level, ownership ...more
The classic criticism against the gold standard is that it was too costly. Why are these guys wasting resources to suit up, dig into mountains, desperately seeking a finite resource, and slogging the results all the way to Treasury Department?
This is all just silly. We know how to make money: you print it. It’s far ...more
If you read on the topic of money’s history from any mainstream textbook, you will already know the drill. In the past, money took many forms. It was shells, pelts, salt, and various metals. Finally we got paper money, credit institutions, then central banks. At this point, we are told, history was complete. The final ...more
I constantly get the question: why do we need this blockchain thing anyway? Here is why.
Every society with a vibrant commercial life exalts private property as an institution. The entrenchment of this institution occurs in three stages. All three are essential.
The first stage is to create private property itself. This is usually done out of ...more
What is the future of banking, central banking and financial intermediation in a world in which cryptocurrency is dominant? Let’s speculate a bit, with the proviso that no one can fully anticipate how these markets will evolve.
We can find hints in the speech by IMF head Christine Lagarde at a Bank of England conference in ...more
It was the second week of February 2013 when I first ventured a public opinion that Bitcoin is the real deal. The dollar exchange rate was at $25, on its way toward another run-up and crash that had been the pattern for two years.
I had just returned from a conference where some Bitcoiners surrounded me ...more