Unreasonable Bitcoin Expectations

Bitcoin Unlimited backers say that without a quick switch to bigger blocks Bitcoin is doomed and will lose out to competition from altcoins. In their view, on-chain transactions must stay very cheap, as they have been five years ago. And Roger Ver, one of the leading Bitcoin Unlimited backers, expected Bitcoin to assure World Peace, … [Read more…]

Bitcoin Civil War

It will be interesting to see how the next couple of months play out. Whatever happens, there are a couple of positive sides to the situation. For one, we will see if it is possible to change the rules of the Bitcoin network even against considerable resistance. The Japanese Constitution has never been amended. But … [Read more…]

Oil Mining Schedule Altcoin

Can blockchain technology contribute to solving global warming? One existing idea is Solarcoin. This is an altcoin project which sits around $4.2 million market cap right now (rank 62 at this moment). The idea is: People generating solar power can report this to the administrators of Solarcoin. These administrators will send them some solarcoin after … [Read more…]

EU Bitcoin Legislation

Kevin Helms at bitcoin.com reports on developments at the European Parliament on Bitcoin legislation. This may be bad news. A Committee Report on the proposal for revising the money laundering directive was published on March 9. Authors of the document are the Committee on Economic and Monetary Affairs and the Committee on Civil Liberties, Justice … [Read more…]

Oil Companies as Scorpions

Chris Nelder pointed me to this column by Ed Crooks, as a part of our discussion on Phaseout Profit. It’s titled “Cooperation Impossible” and states that there is not much hope for American oil producers to cooperate with OPEC efforts and reduce production. The “Scorpions” in the title comes from a story about a frog … [Read more…]

Bitcoins in Japanese NISA Account

The SEC just rejected the Winklevoss application for a bitcoin ETF. The SEC basically said that Bitcoin is not ready for approval yet and should come back a couple of years later when it is. Footnote 96 describes other markets where the SEC approved an ETF. For gold, it states that “the most significant gold … [Read more…]

Cost of Bitcoin Transactions Six Years Ago

Looking at this chart from blockchain.info, I understand that there have been 1,918 transactions confirmed on March 6th, 2011. Those were the good old times where you didn’t need to worry about fees. People who are long enough involved to have experienced in March 2011 the magic of sending your money instantly, world-wide, anytime, with … [Read more…]

Exxon Owns the White House

Many people have pointed out that the White House just lifted a passage from an Exxon press release and used it unchanged in their own press release. Bill McKibben is one of them. This may be not the best way to handle press releases for the American president. Presidents are not supposed to be spokesmen … [Read more…]