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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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Separation

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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Why is Bitcoin Superior To Other Currencies?

The quick answer: Because no one – no committee of “experts” – controls its destiny, and because the rules set by the protocol devised by Satoshi Nakamoto are not imposed; each user chooses to accept them. But what does this mean, in practice, for the user? Let’s review the advantages of Bitcoin … Increased privacy […]

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