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Bitcoin – Commodity Not Currency
Many followers of the Bitcoin economy warn people against purchasing Bitcoin as a viable means of payment. Their reasons are many but generally boil down to the fact that unlike fiat currency (here in...
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Halving Day Caused Many To Stop Mining
On November 28th, 2012 the number of Bitcoins that result from mining a single block decreased from 50 to 25. This predetermined deflationary mechanism has been embedded in Bitcoin’s code since the...
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ASIC ebay Auction WAY Overpriced
Earlier today I stumbled upon this amazing ebay auction. china_man_connections has put up for auction his spot in line (yeah I know, just the SPOT) for one of the second batch of Avalon’s ASIC Bitcoin...
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Bitcoin Could Save Canadians $4.7 Billion/Year
Yesterday morning I read this very interesting article in Toronto’s Globe and Mail. The jist of the article is that Canada’s big payment processors, VISA, Mastercard and Interac, along with Canada’s...
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Bitcoin – A Roadmap to the Mainstream
In recent months Bitcoin has taken significant steps towards mainstream adoption. The high profile organizations of Reddit, WordPress, and Expensify all made headlines by choosing to accept the...
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Ripple and Bitcoin – Foundations of a Decentralized Economy
My post yesterday covered the three key challenges that Bitcoin faces if it is to become a mainstream currency. One of those challenges is economic integration, which at its core is dependent on being...
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Bitcoin’s Bulls and Bears Battle Overnight
Last night a series of large buy orders pushed Bitcoin’s price on MtGox to the dizzying heights of $147. This in turn triggered a large sell-off plunging the price 16% within the hour to $123.79. The...
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Bitcoin Euphoria
Today Bitcoin’s price shot up to over $147, setting a new record in the 4 year history of the crypto-currency. Many believe that the rise in value is entirely rational, stating increased activity from...
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Bitcoin Mining Profitability Calculator
This mining calculator allows you to make estimates for how the Bitcoin network will grow over the next year. Network difficulty, the number of blocks already mined, and the current network hashrate...
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Bitcoin’s Emerging Weaknesses
Bitcoin’s true innovation is one of trust. Through some clever cryptography and a proof of work scheme, Bitcoin has established a network of trust in which everyone can agree on a common ledger without...
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