Bitcoin and the Federal Reserve

I’ll link this little article with little commentary. It just points to the increasing attention that Bitcoin is receiving in the mainstream monetary world. With all the VC money pouring into Bitcoin startups, I think we may have reached or be close to reaching critical mass where by outright banning of Bitcoin by the US […]

Why the value of bitcoin is destined to fall.

Rampant speculation and publicity drove up the price of BTC (in dollars) in 2013. As early adopters began cashing out, the price began falling and has been falling steadily since. See chart below courtesy of coindesk.com. Suspicion has been recently that the dropping price is a result of the increased number of merchants accepting bitcoin […]

The day Amazon accepts Bitcoin

For the past few years, people have been speculating as to when Amazon might begin accepting Bitcoin for payments. There are even some nifty work-a-rounds that allow you to make purchases from Amazon using bitcoins such as zinc or eGifter. However, these require a bit of effort and don’t offer the seamlessness of paying Amazon […]

Bitcoin and the Zombie Apolcalypse

Today I get to talk about two of my favorite topics: Bitcoin and the Zombie Apocalypse. Though both have entered popular culture, unfortunately only one is real. But there is a real phenomenon very closely related to the day of the dead that has relevance to the Bitcoin community. That phenomenon is a pandemic. A […]

A Renaissance for bitcoin?

Let’s engage in a little Gedanken (or thought) experiment. What if by virtue of law or just increasing regulatory burden, the exchange of bitcoin to USD in the United States were completely eliminated. Would this spell the end of bitcoin? I would like to suggest not. Certainly, there would be a precipitous drop in “value” […]

Ticking time bomb?

Most of the regulatory discussion around “miners” (an unfortunate term not used in the Bitcoin whitepaper except as analogy) discusses their introduction of bitcoin value into the market and whether their acceptance of payment for that constitutes an exchanger (exchanging virtual currency value for fiat currency value). FinCen recently said that “so long as the […]

Bitcoin miners and the Financial Crimes Enforcement Network (FinCEN)

FinCEN recently issued a letter in which they clarified some of the requirements for Bitcoin miners. The full text of the administrative ruling is available at http://cointext.com/fincen-issues-bitcoin-friendly-ruling-for-miners/ and concerns the activity of Atlantic City Bitcoin LLC. The Twitterverse has been very active but much of the pronouncements have been of the form “FinCEN says miners […]