Controlling the Perception that Bitcoin is Broken
Bitcoin doesn’t care. It continues to develop a monetary, financial, economic, intellectual, and social ecosystem around itself. But a pair of reports in the mainstream media makes Bitcoin look broken. Arguing with the messenger is an option. But the better path is to get on with the hard work of fixing up Bitcoin in perception and reality. Unfair? Perhaps. A Planet Money podcast finding that Bitcoin wouldn’t relay a simple transaction appears to have been conducted on software that didn’t supply the fee required under current conditions. In light of such reports, new users may hesitate to....
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Last week, Bitcoin.com reported on Supload, a new image-hosting service that pays users in bitcoin for views on their uploaded images. While the service has been well received by bitcoiners, some users have raised concerns that the public at large is not sharing their enthusiasm, stereotyping it as “just another affiliate referral website.” Bitcoin.com....
One issue this change could resolve is how most people assume they need to own a full bitcoin to become part of the ecosystem. A lot of things are changing in the world of bitcoin exchanges right now. Bobby Lee, CEO of BTCC, is contemplating a switch in trading units. To be more precise, he is asking the public’s opinion on trading in mBTC units moving forward. A rather strange idea, although his reasoning for this idea is quite solid. In his opinion, smaller bitcoin units should aid with the public perception of cryptocurrency. The latest idea by Bobby Lee is one that just might work. The....
Li Lin’s controlling stake in Huobi, one of Asia’s largest cryptocurrency exchanges, was recently acquired by About Capital Management for an undisclosed sum. Huobi’s acquisition by the Hong Kong-based asset management firm came shortly after the crypto exchange had exited the Chinese market.
Lin’s Arrest in 2020 a Key Event for the Huobi Founder
The Hong Kong-based asset management company, About Capital Management, recently became the biggest shareholder in the crypto exchange Huobi after it acquired founder Li Lin’s stake in the firm. The....
An important part of being able to create and drive new innovation, crowdfunding is a broken system that bitcoin fixes.
Very shortly, there will be an important scheduled change in the way bitcoin is generated. The rate at which new bitcoin is created will halve, an event popularly referred to as "the halving". At the time of this writing, 3,600 BTC ($2.4m) are generated every day. This will be slashed to 1,800 BTC per day ($1.2m), and the rate will never ever increase. Taking this into account, and some basic economics, we should be able to make predictions about how the perception of bitcoin may change, but since the perception of bitcoin is almost entirely irrational, save for the thinking of a....