JPMorgan Chase CEO Jamie Dimon is vocally critical of cryptocurrencies, including Bitcoin, which he called a “fraud” in September 2017. While previously stating that he does not “really give a sh*t” about Bitcoin
Back in August 2014, I discovered that the bitcoin mining industry had the industrial structure of a natural monopoly. A natural monopoly is a market in which production is most efficient with a single producer. This discovery came as a shock, but the implication was clear: Bitcoin could not survive in the long run. As … Read more
In 2004, I learned from a wealthy Korean industrialist that people were paying real-world money for digital items like weapons to use in massively multiplayer video games. The game was “Lineage,” which was taking Seoul by storm.
Bitcoin is a currency that is accepted everywhere without any government friction or interference, a stored value solution that doesn’t require a holder to keep a room full of metals and art
The number of active Bitcoin (BTC) wallets, many of which have long been dormant, has seen an uptick that could herald some major market movements, Bloomberg reports Jan. 11.
Early bitcoin entrepreneur Charlie Shrem is pushing back against an accusation that he stole 5,000 bitcoin from Tyler and Cameron Winklevoss, according to recently-published court filings. In a document filed Monday with the U.S. District Court for the Southern District of New York, Shrem calls the Winklevoss brothers’ assertion that he stole 5,000 bitcoin “dead … Read more
Ran NeuNer, the host of CNBC’s CryptoTrader show, has rescinded his earlier prediction that Bitcoin (BTC) will reach $50,000 by the end of 2018, in a tweet Thursday, Nov. 1. NeuNer’s original prediction post from Feb.1, 2018 stated: “For the record, I am pinning this tweet. Bitcoin will finish 2018 at $50 000.” In his tweet today, the analyst stated the exact opposite of … Read more
Ten years ago, as Lehman Brothers was declaring bankruptcy and the global economy was lurching into recession, the idea for an alternative currency was being quietly built online. On October 31, 2008 bitcoin was born — and in the past ten years has evolved from an anti-establishment hobby among coders to a household name on … Read more
Initiative Q is not, in any way, a cryptocurrency. But it might just be the new Bitcoin. In just four months, the ‘payment system of the future’ has built a network of nearly three million adopters by offering ever-decreasing sums of their future currency in exchange for an e-mail address. Despite attracting over 100,000 new users each day, … Read more
Cryptocurrency investment firm Pantera Capital reported a more than 10,000 percent lifetime return on Friday, coming five years after its formation. In an email, co-chief investment officers Dan Morehead (who is also CEO) and Joey Krug shared the figure as they celebrated the fund’s fifth anniversary. Perhaps unsurprisingly, they’re still bullish about bitcoin, particularly in … Read more
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