Is "Big Bitcoin" Watching How You Spend Your Cryptocurrency?
Are large cryptocurrency companies and exchanges watching how you use your Bitcoin? A Coinbase customer was threatened with account closure when attempting to use a gambling site. A member of online gambling site BitBet posted on Reddit that Coinbase prevented a user from spending Bitcoin on their site: “Hello, We are the admin team for https://bitbet.us, and it has come to our attention that Coinbase has silently started tracking how their customers spend the coins purchased on their site. One of our users what threatened by Coinbase with account closure after he placed a bet on our site.....
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It’s been referred to as a "revolutionary technology" by IBM, and a "once in a generation opportunity" by PricewaterhouseCoopers. But perhaps the most descriptive title came from The Economist when they dubbed blockchain "the trust machine". It is a breakthrough in computer science that holds the promise of reducing the cost of establishing and maintaining trust for both individuals and organizations. "Blockchain" is a relatively new term that refers to a specific type of computer database. The Oxford English Dictionary defines blockchain as "a....
If Ayn Rand were involved in the bitcoin or crypto world, she might well identify "consensus" as an "anti-concept". The anti-concept, she said, is a "rationally unusable term". It conveys an approximate sense of meaning, but lacks the precision needed to fully communicate an idea. "In the realm of cognition," Rand said, "nothing is as bad as the approximate." "Consensus" mischaracterizes the decision-making processes that exist around bitcoin. Adoption or non-adoption of network software says nothing about the broader....
Bitcoin spent most of the seven days ending 8th April fluctuating between $415 and $425 amid modest trading volume. These developments largely mirrored the previous week, with the exception of the fact bitcoin experienced weaker trading volume compared to the last several weeks. Some market experts sought to explain bitcoin’s relative price stability by asserting that low volatility has sapped the interest of many traders. George Samman, a blockchain advisor and consultant, told CoinDesk that bitcoin's volatility has fallen to its lowest since 2012, and that as a result, "volume has....
In physics, the definition of "energy" is "that which allows work to be done." This means that money is energy, since it can be used to do work via payments to people. The energy in money can be thought of as "economic energy". Economists call economic energy "price" and measure it in terms of "euros" or "Kenyan shillings" and so on. But, these units are abstract because their quantity changes over time. Physicists would prefer to use units such as joules or kilowatt-hours, which have a concrete basis in physical realities of mass....
You can add R Jesse McWaters, financial innovation lead at the World Economic Forum (WEF), to the growing chorus of industry voices warning that we’ve reached a "peak" when it comes to the hype surrounding blockchain technology. "I’m trepidatious about inflated expectations re: the blockchain," McWaters said in a new interview, the comments coming as he described the ongoing "awakening" he’s seen among major financial institutions in regards to the technology. While even the WEF itself has lauded blockchain as a global....