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…
Just hours after the news of the Silk Road’s downfall began spreading, the most popular Bitcoin forum, bitcointalk.org, was hacked and quickly shut down. The video below shows the comic side of the hack, as rockets were sent cruising across the screen and exploding to the tune of Tchaikovsky’s 1812 Overture. Towards the end, a message appears stating that the forum was seized by the FBI for being illegal, which is clearly a reference …
The infamous Dread Pirate Roberts, head of the “most sophisticated and extensive criminal marketplace on the Internet today,” (Tarbell, see link below) has finally been identified and arrested by the Federal Bureau of Investigation. This is huge news for the Bitcoin community. This multimillion dollar black market, known as the Silk Road, has been operating since early 2011, and according to the official police warrant for his arrest,…
The Bitcoin community is extremely diverse. Because of the global nature of cryptocurrency, people from all over the world can use Bitcoin regularly. Because of the innovative nature of Bitcoin, many huge companies with varying purposes have sprung up. Mt.Gox and Coinbase are Bitcoin exchanges, which allow users to trade fiat currency for Bitcoins. Butterfly Labs and Avalon ASICs are two of the many companies competing to design the best Bitcoin mining hardware. Still others, …
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 …
There are plenty of people out there, especially Bitcoin newbs and many younger people, who will do absolutely anything to get their Bitcoin fix. They will spend hours refreshing the Bitcoin faucets and solving CAPTCHAs just because they can get tiny doses of ‘free’ money. There is nothing necessarily wrong with this, in fact, I used to do it myself. If you honestly have nothing better to do, sure, why not spend your time collecting …
You, Me, and BTC Your Liberty & Bitcoin Podcast 