cryptocurrency

What the Mainstream Doesn’t Get about Bitcoin

The real demand for bitcoin will not be known until a global financial crisis guts confidence in central banks and politicized capital controls. I’ve been writing about cryptocurrencies and bitcoin for many years. For example: Could Bitcoin Become a Global Reserve Currency? (November 7, 2013) I am an interested observer, not an expert. As an observer, it seems…

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One Trader Made $200M Trading Ethereum… And Nobody Knows Who To Tax

During Ethereum’s big rally last month, when the price of a single coin went from $220 to just shy of $400 in the span of two weeks, one trader turned $55 million of paper wealth into more than $398 million. And nobody knows who they are, or – more importantly – who to tax. As Bloomberg so…

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Understanding the Cryptocurrency Boom (and its Volatility)

Speculative booms are often poor guides to future valuations and the maturation trajectory of a new sector. I recently came across a December 1996 San Jose Mercury News article on tech pioneers’ attempts to carry the pre-browser Internet’s bulletin board community vibe over to the new-fangled World Wide Web. In effect, the article is talking…

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As Bitcoin Surges over $1,800, Federal Reserve Official Admits Blockchain Value

The price of bitcoin just surpassed $1,800, its second all-time high this week. As governments worldwide eye the blockchain technology and ready new cryptocurrency rules, there is no sign bitcoin’s astronomical rise in value, up 81 percent this year, is over. According to Coindesk’s Bitcoin Price Index, the average price of bitcoin hit $1,839.23 on…

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