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…]

Bitcoin and Trademark Law

Recently, some people try to change the Bitcoin network rules. They want larger blocks, and call their effort “Bitcoin Unlimited”. Now someone has applied for a trademark on “Bitcoin Unlimited” in the United States. I would link to the appropriate search result, but doing so would result in a link that only works for a … [Read more…]

Trump Energy EO no Big Surprise

President Trump has issued an Executive Order about energy policy. It is published here (Vox) with useful annotations by George Washington University law professor Emily Hammond. As expected, Trump wants to roll back all efforts of the previous administration to do something about global warming. As Hammond explains, much of this will be litigated for … [Read more…]

RFC 1087 “Ethics and Internet” (1989)

Bitcoin may be understood as an Internet protocol. If so, it may be of interest to look at the procedure that was followed for adopting other Internet protocols as a model for responsible governance. Doing this, I found RFC 1087, titled “Ethics and the Internet” and published in 1989. That RFC stated that several activities … [Read more…]

Bitcoin Fee Price Elasticity

This was the topic of a post here in 2014, which got 1 (one) comment. Price elasticity means how much demand will be reduced if price goes up. That’s an important point now. Some people think that Bitcoin fees need to be low or zero, or users will switch to something else, and Bitcoin will … [Read more…]

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…]