Bitcoin, the Super Bowl, and Force – Bits & Pieces #13

Despite my general lack of interest in sports, I often find myself looking forward to the Super Bowl. I usually watch for the commercials, but I'll admit that I was also excited to see Katy Perry's halftime show last night and found it surprisingly enjoyable. The actual game of football, on the other hand, I find only mildly entertaining. I usually get turned off by fans who are far too crazed about "their" teams. During …

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Bitcoin Doesn’t Need Money – Bits & Pieces #12

Profit from Bitcoin
Daniel is out of town this week so the following Bits & Pieces column is by Tim Baker. Enjoy!

  I’m glad Bitcoin has crashed (relatively) and I think you should be too. Actually, it's not that Bitcoin has crashed so much as the USD/BTC exchange rate has plummeted. That rate has absolutely nothing to do with the technology that is Bitcoin. Right now, Bitcoin is most prominently used as a medium of exchange, and …

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Ulbricht, Karpeles, Silk Road, Gox, DPR, and Morality – Bits & Pieces #11

I recently enjoyed reading this article by Dan Krol from Bitcoin Not Bombs. The piece is about some surprising new testimony coming from the trial of Ross Ulbricht, the alleged mastermind behind the Silk Road. You should already know this, but the Silk Road was a fairly large, online, underground marketplace that used Bitcoin to facilitate the trade of illegal goods like drugs. It's a fascinating article and it's extremely relevant to me, given my …

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Social Unity via Bitcoin

Bitcoin Unifies Us
by Tim Baker

  We all know the internet can be terrible for us. All the input, all the stimuli, all the voyeurism. It feeds us the idea that we must live up to this standard that we see in our friend’s pictures and status updates, but they’re doing the same thing. No one really reaches this standard, we’ve just collectively decided to be constantly miserable because our lives aren’t as kickass as they should …

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Bitcoin’s P2P Nature – Bits & Pieces #10

Bitcoin is P2P

Just last night, one of my favorite Bitcoiners, Jeffrey Tucker, released a brand new book, Bit by Bit. It's all about how P2P technology is changing our world for the better. We've had Mr. Tucker on our show a few times before and his understanding of Bitcoin is superb.

In light of this release, I thought I might take some time to explain the peer-to-peer nature of Bitcoin. What makes it P2P and why …

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Bitstamp’s Missing Millions: The Good Parts – Bits & Pieces #9

On January 4, 2015, one of the more popular Bitcoin exchanges, Bitstamp, suffered a costly security breach. The administrators promptly suspended services and later announced a loss of nearly 19,000 BTC, worth roughly $5 million. This is simply wild.

One of the reasons that we like to praise cryptocurrency is because it is different. Granted, differences don't necessarily make something better, but when the old norm is wrought with as many flaws as our …

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Spend Bitcoins While They Are Cheap! – Bits & Pieces #8

Bitcoin Accepted Here

Why on earth would I want to spend my bitcoins now, when they're worth so little compared to when they peaked? Shouldn't I wait and hope that the price rises again? The short answer is "No, because I feel like spending my coin." I want some new stuff and I want to buy it with bitcoins, but that's not all there is to this decision. There are always reasons to hold and reasons to spend, …

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The Real Cost of Moving $83m – Bits & Pieces #7

On December 2, 2014, a transaction worth almost $83 million hit the Bitcoin blockchain. That's amazing, even before we start talking about fees. Someone was able to move millions of dollars around the globe, without even leaving his leather office chair. Ok, so I don't know those details for sure, but they're certainly possible with Bitcoin. For all I know, the sender was still wearing his PJs.

What's most interesting about this transaction is, as …

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