Initial Coin Offerings and Securities Law

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 … [Read more…]

Bundesbank Comments on Bitcoin

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. I disagree. 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 … [Read more…]

Brexit and “BUxit”

One of the proposals of scaling Bitcoin is known under the name of “Bitcoin Unlimited” (BU). The recently opened website 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 … [Read more…]

How Bitcoin Rule Making Does Not Work

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. … [Read more…]

Stronger Oil Cartels Needed Now

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. … [Read more…]