Why Bitcoin May Solve This Age-Old Economic Paradox

Why Bitcoin May Solve This Age-Old Economic Paradox

Travis Patron is the founder of Diginomics, a bitcoin news organization where professionals can enroll in the Bitcoin Economics Course. Here he explains why the stateless nature of bitcoin holds the potential to solve an age-old international monetary flaw. Although the United States Federal Reserve Note carries with it many advantages for conducting commerce and serving as a world reserve currency, its makeup is not void of imperfections. One of the main shortcomings of the US dollar is the Triffin dilemma, a problem which arises when countries must manage both short term domestic and....


Related News

What is the Carbon Footprint of a Bitcoin?

In this, the first of a three-part series, Danny Bradbury explores the impact the bitcoin network is having on the environment. Just how much carbon dioxide do we produce when we mine a bitcoin? It's becoming an increasingly important question. After all, it's great to disrupt an inefficient and sometimes corrupt incumbent economic system, but most of us would rather not do it at the expense of the planet. The bitcoin network is stuck in a circle that drives up its power usage. People tend to put more computing power on the network so that they can make more more bitcoins. The software....

Counting Pennies: The Best Ways to Buy & Sell Bitcoin in the UK

Bitcoin buying and selling in the UK has always been something of a paradox. For a major world economy forming such a large potential market, bitcoin purchasing remains more expensive than in neighbouring Europe. The UK government has cited its desire to aid Bitcoin’s cause over the past year, but as yet, no tangible changes have been seen, and banks continue to be reluctant to partner with domestic Bitcoin operators. CoinTelegraph took a look at the best options available for UK consumers in 2015. The most common way mainstream consumers purchase bitcoin is through an exchange. However,....

Counting Pennies: The Best Ways to Buy & Sell Bitcoin in the UK

Bitcoin buying and selling in the UK has always been something of a paradox. For a major world economy forming such a large potential market, bitcoin purchasing remains more expensive than in neighbouring Europe. The UK government has cited its desire to aid Bitcoin’s cause over the past year, but as yet, no tangible changes have been seen, and banks continue to be reluctant to partner with domestic Bitcoin operators. CoinTelegraph took a look at the best options available for UK consumers in 2015. The most common way mainstream consumers purchase bitcoin is through an exchange. However,....

Taringa!: Social Network with 75 Million Visitors to pay in Bitcoin

Maybe you haven't heard of Taringa! but that's about to change. Think of Taringa! as a combination of Facebook and Reddit for Latin America. Based in Argentina, Taringa! claims a unique user base of 75 million, second only to Facebook itself in the region among social networks. And they have caught the bitcoin bug, with the help of Xapo, the California-based Bitcoin wallet and service provider. Taringa! sees the economic value in Bitcoin. Turinga! claims 75 Million Unique users worldwide, service Argentina, Mexico, Spain, Colombia, Peru and the U. S. Bitcoin's innovations solve a very....

Op-Ed: Paul Krugman is Wrong - Bitcoin Has Been a Stable Store of Value for over Half a Decade

There are plenty of legitimate economic arguments against Bitcoin. A level of inequality that makes the U.S. look like a “workers’ paradise” is one. The possibility that mining will continue to become more centralized is another. And, while I don’t buy it myself, concerns over the protocol’s deflationary nature are justified if one believes that our collective understanding of economics and monetary policy will be at the same level in 2140 as it is today. So when I saw that Paul Krugman had written another piece attacking Bitcoin, I was surprised by his justification. With so much else to....