MIT Tech Review Posts Interesting Findings on Bitcoin Spending
The Technology Review, published by the folks at MIT here in Massachusetts have posted an interesting infographic on bitcoin. One subsection in particular we found interesting (CoinDesk published this first and it caught our attention). It has to do with the bitcoin spending, and according to research conducted by MIT, New bitcoins are now more likely to be spent than hoarded by speculators. The data ranges from 2009 through 2013, and indicates that the majority of bitcoins purchased today are spent within 24 hours. By comparison, in 2009, the majority of bitcoins acquired were hoarded.....
Related News
Welcome to the first article on Bitcoin Research Papers or, as we will call them here, BitPapers. As you may recall, Gavin Andresen recently resigned from the Lead Developer post, stating that: "Today, I find it harder and harder to keep up with all of the great Computer Science or Economics papers related to bitcoin and other crypto-currencies; in just the last week Mr. Google told me about 30 new papers I might be interested in reading." Many of these papers, unfortunately, go unreported, despite some very interesting findings, because they are not a full article newsworthy. These series....
Newly released research from the MIT Technology Review, a faculty-run university magazine, suggests that new bitcoins are increasingly being spent, not hoarded, by users after purchase. The data illustrates that the number of unspent, new bitcoins has declined drastically from 2009, when nearly half of all new bitcoins were held for the entire first year of ownership. Today, the vast majority of new bitcoins are spent within 24 hours, the findings suggest. The results led the researchers to conclude: "New bitcoins are now more likely to be spent than hoarded by speculators." Such findings....
Review: Zeusminer Thunder X6 NX Gen Scrypt ASIC Miner. Zeusminer has been hard at work making miners for itself as well as being the OEM manufacturer for many others. While this has kept them busy, they have also worked on getting ready to launch their NX Gen X6 miners. Zeusminers sent me over a Thunder X6 to review, and it has been fun with some interesting findings. Zeusminers X6 NX Gen miners use more chips at a lower voltage and clock to achieve a better power consumption profile per mh/s. As you can see from the specifications below, a new lower power consumption is better and still....
CoinTelegraph concludes its review of a selection of the most popular cloudmining providers with the all-important overview of just how much money is involved for potential users. Cloudmining needs to be suitably profitable for customers, as well as offer flexibility when it comes to harnessing and spending or reinvesting those profits. With this in mind, we check out the costs to the consumer for each of our cloudmining providers, and see how easy it is to get your hands on your precious coins fresh from the ether. (Please note that due to currently experiencing difficulties,....
Event organiser Tech in Motion recently carried out an interesting survey on digital currencies. The findings are hardly surprising: techies love bitcoin. Tech in Motion sent out questionnaires to 18,000 members and 847 were kind enough to respond. When asked whether they would like to be paid in bitcoin, 51.1% said "yes, absolutely". However, 18% said they would rather wait and see where bitcoin ends up in a year or two. The remainder said they would rather be paid in cash, while 9.9% said they would not accept bitcoin payments, as they don't believe the currency will last. Only 1.18% of....