Bitcoin Companies Are Compounding the Bitcoin Hoarding Problem
Bitcoin hoarding has been dubbed as one of the “major problems” hampering the adoption growth of this disruptive digital currency. While there are over 14 million bitcoins in circulation at the time of publication, only a fraction of that amount is changing hands on a regular basis. As a result, there are a lot of coins not moving to different owners, leading to various addresses “hoarding” bitcoins. One of the more common reasons for the Bitcoin hoarding problems can be blamed on lack of incentives for consumers to spend Bitcoin. While merchants are reaping the benefits from paying lower....
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The Bitcoin price, or to be more precise, the value of Bitcoin in relation to a particular fiat currency, has recently been falling. This may not necessarily be a bad thing. For too long, the ability of Bitcoin to function as a currency, has been somewhat restricted by tales of its success as an investment. The currency has, until recently, been a victim of its own success. Investors had been coming on board with the sole intention of acquiring bitcoins and hoarding them with the intention of selling them in the future at a significant profit. They were encouraged to do this by the almost....
Remember Grexit? Think back a bit when the whole world was on their seat’s edge and wondering if Greece will or if they won’t exit the European Union. Well fast forward to today and here we are wondering the same about the United Kingdom of Great Britain and Northern Ireland. Brexit the bogeyman. As a person who was born in a Union (The Indian Union) and who has lived a great part of my life in one, I could tell you a thing or two about these sort of entities. The strain is real. We in India have several states that want to exit as well. In fact the Indian government has been fighting....
Written By: BigChubbyCat (8BTC). Translated By: James Choi (8BTC). Edited By: Elizabeth T. Ploshay (Bitcoin Magazine). I. The difference among physical carriers. Before discussing currency competition, we should define the difference between different monetary carriers. 1. Carriers for precious metal money: metal atoms (Au, Ag, Pt, etc). 2. Carriers for paper money: some mixture of plant fiber. 3. Electronic money: electronics. There have been other forms of carriers in the past. For example, past carriers of horns, seashells and feather money were parts of animals, which are essentially....
Venture Capitalist Fred Wilson is a self-proclaimed bitcoin believer, but when speaking at New York University recently he highlighted some of the negative aspects of the digital currency, which he said, are holding it back from widespread adoption. Currently, security, practicality and problems related to speculation and hoarding are the biggest issues facing bitcoin, he said at an event sponsored by the NYC Foundation for Computer Science Education. Wilson is the co-founder of venture capital firm Union Square Ventures, which has made investments in a number of successful tech start-ups,....