This was the topic of a panel discussion at the recent Consensus 2017 conference. Coindesk reports in an article here.
I agree with the skeptic point of view. If you are collecting money from investors, you need to follow the rules laid down in securities law. It doesn’t matter that you are collecting bitcoins instead of dollars.
Securities laws are supposed to provide a sanity check by regulators preventing founders from fleecing investors of dubious intellectual firepow
The German newspaper Welt cites Bundesbank leader Carl-Ludwig Thiele with some warning comments about Bitcoin. He says Bitcoin is not a good store of value.
The comment tells people to “look at a chart”.
If you do that, you will see that the “safe” Euro has lost massively in value against bitcoin just about every year for the last eight years. So this comment doesn’t make sense for everyone actually following the advice of looking at the charts.
Some people are spreading the idea that Bitcoin will die tomorrow because of the extremely high fees resulting from a shortage of transaction capacity.
“Fees are high” only makes sense when adding “compared to X”.
It is correct that fees for Bitcoin use are high compared to Ethereum or Litecoin.
It is far from correct compared for the fees when buying and storing gold.
One of the use cases for Bitcoin is long term secure store of value. I hear that there is a 2
One of the proposals of scaling Bitcoin is known under the name of “Bitcoin Unlimited” (BU).
The recently opened website www.bitcoinunlimited.info has this to say about the conditions for activating BU:
Bitcoin Unlimited has no script to create a hard fork. It just gives the stakeholders this option. How they use it is up to them. A possible way to hard fork to bigger blocks was laid out by the Mining Pool ViaBTC which suggests an activation plan at a certain block height afte
If you are following Bitcoin, you may have heard that there are differing views on how to increase transaction capacity. I have an opinion on which of those views is preferable. I will keep said opinion to myself here, since it is not relevant for this post.
Let’s call them plan A and plan B. Obviously this raises the question of how Bitcoin decides on the three possible outcomes (adopting A, adopting B, and doing nothing leaving the status quo intact).
This is a difficult que
The German Renewable Energy Industry Association (Bundesverband Erneuerbare Energie e.V.) just published a paper showing that Germany will be one of only five EU Member States failing to achieve their renewable energy share required by the EU Renewable Energy Directive.
Under the Directive, Germany is required to achieve a share of 18% until 2020. Last year’s figure was 14.6%. The paper expects that only 16.7% will be reached until 2020, while the German government’s plan in 2010 call
Joe Romm explains that solar and wind now are beating fossil fuel power generation on price without any subsidies, citing recent reports by the UN and Bloomberg.
That’s not surprising to anyone who paid attention. Kees van der Leun predicted this to happen in 2011.
But there is an interesting quote in that article. Romm quotes Micheal Liebreich with this statement:
It’s a whole new world. Instead of having to subsidise renewables, now authorities may have to subsidise
Jillian Ambrose explains in this Telegraph article several reasons given by Oxford Professor Dieter Helm why oil prices are expected to stay low. Helm is quoted with this statement:
As prices come down you’d expect producers to supply less – that’s normal economics. On the contrary, in oil as output falls the production goes up. Why? Because the marginal cost of production in the Middle East is around $10 and the marginal cost in Russia is $20. So even at $50 you’re making a profit. A
This is a little thought experiment. The purpose of that is to argue against a certain misunderstanding of consensus rule in Bitcoin.
Many people are tired of the debate on exactly when and how Bitcoin should be scaled. So here is one way of solving it and moving on.
As is widely known, Bitcoin was given to Satoshi Nakamoto by the evil alien overlord Khalmorot in the first place.
Since that alien’s technology is a couple of hundred million years ahead of human technolo
Most people take energy for granted and have trouble visualizing what exactly “1 kWh” means.
It is interesting to join 5 million people and look at this Youtube video of Olympic Cyclist Robert Förstemann spending three minutes on a bike generating enough energy to toast one slice of bread (0.021 kWh generated).
How many times would he need to do this to power one Bitcoin transaction?
That obviously depends on how much energy one transaction needs on average. The b