Bitcoin: Solving The Elusive Monetary Problem
This deep dive explores what problems plague our modern monies, and how bitcoin cures these issues.“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” -Abraham LincolnTo understand the implications of a paradigm changing technology, one must intimately understand the problem that is being addressed. If we do not understand the problem at a granular level, how can we ever determine what may be a suitable solution? Bitcoin has been obtuse to many, the reason being that most simply do not understand the problem of money; if you are one of these people,....
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Close collaboration continues to be the absolute necessity for blockchain success. The closer the collaboration between developers and commercial organizations, the better the results that emerge. And the closer everybody works with consumers, the more likely it is that the result will be something attractive to them. This technology is young: the tools to interact with it are designed largely for developers. Creating experiences for consumers is hard, and allowing consumers to interact with it directly can be even harder. An example: every action on public blockchains requires a....
There are plenty of legitimate economic arguments against Bitcoin. A level of inequality that makes the U.S. look like a “workers’ paradise” is one. The possibility that mining will continue to become more centralized is another. And, while I don’t buy it myself, concerns over the protocol’s deflationary nature are justified if one believes that our collective understanding of economics and monetary policy will be at the same level in 2140 as it is today. So when I saw that Paul Krugman had written another piece attacking Bitcoin, I was surprised by his justification. With so much else to....
Benson Samuel is the CTO & Co-Founder of Coinsecure, a start-up focusing on solving the liquidity problem of bitcoin in India. Following a career in the payments space, Samuel realized that cryptocurrency could solve many of the issues that plagued the industry and took an instant liking to bitcoin. With his newfound passion for bitcoin, Samuel found a critical problem early on, which was the lack of liquidity for bitcoin in the Indian market. This eventually led to the founding of Coinsecure- a bitcoin exchange which hopes to make bitcoin a part of every Indian’s wallet. CoinTelegraph:....
The root cause of this problem is how a central bank is the “only player in town” to address economic turmoil. One thing most financial experts seem to agree on these days is how central banks find themselves in a precarious position. The Federal Reserve is sharing that opinion, as they feel central bank policy is doing more harm than good. In fact, 70% of bankers believe the monetary policy is a thing of the past. Central banks are on very thin ice, and more cracks start to appear every single day. Central banks have been using some interesting monetary policy options for several decades....
With 40 million tons of e-waste generated each year, the unique incentives created by bitcoin miners offer a solution to a growing problem.