Archive | April, 2013

Bitcoin solution

Bitcoin’s Solution To The Fundamental Problem

The design of the Bitcoin protocol provides solution to the following question: “how does one get all the qualities of the  best currency conceivable without the need to trust or rely on anyone. Sounds impressive, doesn’t it? But let me explain. The inherent problem of the current monetary system based on fiat money and central […]

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Bitcoin and The Separation of Currency and State

Did you notice that when talking about the weaknesses of Bitcoin, effectively we hardly ever talk about Bitcoin itself, but rather its “shortcomings” in relation to the state: Can the state ban Bitcoin and if so how? What strategies can the state devise to damage it? How can it go about limiting its expansion? But […]

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Bitcoin Shut Down

Can Bitcoin Be Ever Shut Down?

A scenario that could potentially lead to Bitcoin being shut down is one of a united and total ban by the world’s most powerful governments. But what can a state really do to ban Bitcoin? Effectively, the same thing what it did in case of the war it waged against BitTorrent and Wikileaks but noting […]

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Bitcoin for the world

Bitcoin: The Currency For The (3rd) World

With an ever-growing number of Bitcoin exchanges and businesses that choose to incorporate Bitcoin currency into how they get paid by their customers, Bitcoin may very well soon end up becoming the method of choice for the international fund transfer. It should also go without saying that when this happens the inhabitants of the so-called […]

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Bitcoins: mine or buy?

Bitcoins: Mine Or Buy?

Ever since the time Bitcoins took on some real value nearly all bitcoiners must have at some point asked themselves the same question: should I get involved in mining? Or perhaps it’s better to stick to buying Bitcoins directly? One factor frequently mentioned, while not necessarily being the only answer to the given question, is […]

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Nature of Bitcoin

The Nature Of Bitcoin

Which of these events will light the fuse on Bitcoin and make its value shoot through the roof? Can one of such reasons be Bitcoin client becoming more user-friendly? Maybe, an emergence of new iPhone app? Sudden capital injection? Hostile words from a bitcoin-hating politician? Imposition of capital controls somewhere or, better yet, another Cyprus-like […]

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Bitcoin in a nutshell

Bitcoin In A Nutshell …

The following are some definitions invented by participants of some Bitcoin-dedicated forums I occasionally frequent as a response to a challenge of defining Bitcoin and what it does in a nutshell. I’ve decided to put them together for your attention because I found some of them to be both accurate and insightful. “Bitcoin is the […]

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Bitcoin FAQs

Bitcoin FAQs

The concept of peer-to-peer money goes against so many of our (frequently wrong) preconceptions with respect to how we perceive money and understand its basic functions. To help counter them, here are FAQs to some common questions usually posed by those lacking familiarity with Bitcoin and/or on their way to enter the world of what […]

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Bitcoin Wallet Tutorial Step 3

Bitcoin Tutorial For Obtaining Your Bitcoin Wallet From ‘My Wallet’

We’ve prepared this little Bitcoin Tutorial for those of you wishing to obtain a new bitcoin wallet from ‘My Wallet’ ( Please follow the subsequent steps: 1)     Go to 2)     Click on Start a New Wallet. 3)     Fill in your Alias, a password of your choice and copy the captcha. Regarding the password: use […]

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How Do You Get Your Bitcoin Wallet?

The Bitcoin Wallet is actually a file needed to send and receive bitcoins. We can say that this file “contains” our bitcoins, although in reality it contains cryptographic keys (unique, secret, private keys) that make us owners of our bitcoins, and allow us to authorize payments (transfer the possession of our coins). Getting one or […]

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