Commentary

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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