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Category Archives: Technology

Dispelling some myths about Bitcoin, from a Bitcoin fan

Jul 16, 2016

L.M. Goodman

Many people who don’t know much about Bitcoin, or who have a poor grasp on economics, have severe misconceptions about Bitcoin. I do not attempt to dispel those myths here because many others have already done so. Rather, I’d like to dispel a few myths that are pervasive in many people who a...

How The Bitcoin Protocol Works

May 25, 2016

Chalmers Brown

An increasing number of businesses and consumers are now considering bitcoin, a new type of currency that offers a potential global-encompassing digital payment method. With this growing acceptance, it's important to learn the essential components of this platform designed to change how we buy and...

Why bitcoin mining variance matters?

Jul 19, 2014

L.M. Goodman

In bitcoin, miners join pools for two reasons. One is to avoid the hassle of running a full node — this could be mitigated by requiring miners to include proofs of blockchain retrievability. The other is to reduce the variance of the return in their mining. But why is variance so impor...

Minimum Viable Block Chain

May 5, 2014

Ilya Grigorik

Cryptocurrencies, and Bitcoin in particular, have been getting a lot of attention from just about every angle: regulation, governance, taxation, technology, product innovation, and the list goes on. The very concept of a "peer-to-peer (decentralized) electronic cash system" turns many of our prev...