No One Understands Bitcoin, And That’s Okay
Bitcoin is an infinitely complex system that is a zero-to-one invention with little for us to compare it to, so no one can fully understand Bitcoin.Jameson Lopp, one of the earliest developers in Bitcoin says, “Nobody understands bitcoin, and that’s okay.” Truer words were never spoken. It’s actually a useful starting point for the topic I’m writing about now. I’m absolutely neutral on whether you decide to buy or, better yet, save in bitcoin. My only goal is to help chip away at our collective ignorance. Michelangelo’s creation of the statue of David gives us a reference point. He claims....
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Understanding the monetary system is foundational to seeing what’s wrong with the current system and to have a true grasp of Bitcoin and its importance.
Prominent hedge fund manager Paul Tudor Jones’ understanding of bitcoin has come into question since he only invested about 1% of his assets in the cryptocurrency. According to the CEO of Microstrategy, the Nasdaq-listed company that recently invested almost half a billion dollars in bitcoin, Jones would have invested much more if he had really understood bitcoin. Paul Tudor Jones Would’ve Invested More in Bitcoin In an interview with Stephan Livera, published Monday, Microstrategy CEO Michael Saylor shared his thoughts on how his billion-dollar company adopted bitcoin as its....
With Janet Yellen the presumptive Treasury Secretary, Biden's potential nominations to the U.S. regulatory apparatus will be critical. The crypto lobby seems to be cautiously optimistic about Biden's potential picks to lead the U.S.'s regulatory environment. That is, at least, according to a Thursday discussion hosted by TRM labs, featuring the executive directors of the Blockchain Association and Coin Center — respectively Kristin Smith and Jerry Brito. The pair got into a discussion of who they hope the Biden administration nominates to top regulatory agencies like the Securities and....
About a month ago, I reported that more than half of Americans have no clue what Bitcoin is. While Bitcoin is becoming more and more popular, people are increasingly starting to learn about the cryptocurrency. However, for the average person, it's still quite confusing. Funny or Die's "WTF is Bitcoin?" video parodies the "What is Bitcoin?" video from We Use Coins, and essentially describes how the average person understands Bitcoin after a few hours or less of research. Click on the image below to see the video (sorry, couldn't get embedding to work for Funny or Die). WTF is Bitcoin? It's....
One of the bigger headlines last year was news that the Winkelvoss twins - Tyler and Cameron - were starting a bitcoin ETF (exchange-traded fund). But before such a fund could be launched, they'd be required to jump through hoops and get approved by the Securities and Exchange Commission (SEC). And given that this the first of its kind, there has been doubt about whether or not it will get the seal of approval. According to lawyer handling the trust, Evan Greebel, things are going well. "The SEC has generally been receptive," said Greebel, according to the Wall Street Journal. "We are....