Most, if not all, fiat currencies are issued and “backed” by the government that issues them. This type of enforcement based backing is called de jure law. This just means that something is enforced by a legal system with courts and law enforcement that those courts operate. Bitcoin is unique because bitcoin is backed by […]
When money first began, it had all sorts of forms. Some societies used seashells while others used whales teeth. Some even used large stones that came from a nearby island that took immense amounts of effort and energy to acquire. One thing that all of these early forms of money had in common was that […]
As Bitcoin’s price continues to climb, it helps to understand one of the basic principles that cause this to happen. While there are a number of reasons why Bitcoin has value, the primary cause of the price continually climbing is that the demand is growing faster than the supply. The Supply of Bitcoin One of […]
One of the most common misconceptions that I hear in the bitcoin space is that “If you don’t spend your bitcoins, then it will never reach mainstream adoption”. While it’s good to use your bitcoins as a medium of exchange, the only way that mainstream adoption will ever be possible is if someone else first […]
Since Edward Snowden revealed that the NSA has been conducting mass surveillance of not only US citizens but of citizens all around the world, there has been a substantial increase in the adoption of end-to-end encryption. These new encryption tools have made privacy so robust that now anyone with a smartphone, has access to more […]
The internet is a global economy that transcends nation states and political borders. PayPal, Square and other FinTech companies have enabled entrepreneurs around the world to transact business electronically but these services along with all other payment networks are centrally operated and subject to countless laws across a multitude of jurisdictions. What the internet needs […]
What is money? Lots of people have confidently told me that “money is the root of all evil” yet when I ask them what money is, they can’t seem to come up with an answer. Why is it that so many people seem to think that money is innately evil? Why doesn’t anyone understand what […]
In our hyper-connected tech world we have probably all heard a number of buzzwords that are related to cybercrime. Identity theft, ransomware, hacks, leaks, fraud, viruses, phishing, forgery, malware and spam are all terms that we either hear on the news or the latest primetime tv drama and that is because cybercrime is evolving at […]
Since it’s inception back in 2009, one Bitcoin has gone from being worth absolutely nothing to being worth 1/10,000 of a pizza to achieving parity with the US dollar and reaching an all-time high of $1,271 (which at the time was worth more than one troy ounce of gold – $1,201.91). It is the limited […]
Bitcoin adoption is accelerating around the world and soon there will be more smartphones than bank accounts. Tech giants like Google and Facebook have plans to speed things up by targeting emerging markets to bring over a billion new users into the internet economy. These next billion users are going to need the means to […]