Commentary

Gift Bitcoins to Benefit the Entire Community

Merry Christmas from You, Me, and BTC! It is December 25th and you have probably already opened most of your gifts. Hopefully your shopping is complete as well, but if you still need a little something for that gift exchange, why not consider Bitcoin?

Bitcoin is new, revolutionary, and exciting. It would be easy to dismiss the idea of gifting Bitcoin simply because it is a little hard to understand and the recipient might not …

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Is Bitcoin In a Bubble?

The value of the Bitcoin has been making record highs recently. While many love this, others are concerned that the spike is simply a bubble. We have been here before. Early on in its existence, Bitcoin soared to $30 and then crashed. Later, we hit highs over $250 and then crashed again. Now we are well over $600 and some fear that this spike too is artificial. Will the price crash yet again? Are we …

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Is Bitcoin Really for Everyday Use?

Although it is rapidly expanding, the Bitcoin user base is still relatively small. It is limited for the most part to people who are at least somewhat tech-savvy. Let’s face it, in its natural form, Bitcoin requires you to download a piece of software, a client like Bitcoin-Qt or MultiBit, and keep track of long strings of random characters, or addresses, which are not easily memorized, and usually require a computer just to distribute.…

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Will the Government Try to Bring Down Bitcoin?

Before I dive into my attempt to answer that question, I should mention two similar but much easier questions that are often asked: “Will the government bring down Bitcoin?” and, “Can the government bring down Bitcoin?” Anyone who knows Bitcoin should produce a resounding, “No!” in response to either of those questions. The government will not bring down Bitcoin because…

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The Consequences of a Rising Difficulty

Many Bitcoin enthusiasts are concerned about the massive increases that the mining difficulty level has experienced over the past several months. As ASICs fly off the shelves, the network’s hash rate skyrockets (we just recently hit 1 petahash, or 1 quadrillion hashes per second), which rapidly boosts the difficulty level, sometimes doubling it in less than a month.

In fact, most ASICs that are sold do not even exist yet, and the buyer has …

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