Sorry about that, I post this to four different platforms and forgot to set this to release on Sunday! pulling it back now til its scheduled release.
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Let's Talk Bitcoin! #404 Crypto Plastic & Bitcoin's 90/10 in India
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How many bitcoins does it cost to maintain the Bitcoin network?
August 21st, 2014 by Tim Swanson Let us be quite clear: if Bitcoin was a cheaper or more efficient transaction method, for-profit organizations such as large payment processors would have forked it long ago and would likely already be using it internally in order to shore up their margins. They do not because it is not cheaper, in fact, it is significantly more expensive to maintain than any of a number alternative centralized methods (e.g., running MongoDB on a Pi server).
The bottom line to them is that the marginal value in these centralized solutions has to be greater than the cost of maintaining it (MV>MC) otherwise none of the companies would be able to generate a profit. As described below, Bitcoin currently does not fulfill that characteristic.
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What we have today is not Bitcoin but BINO
August 17th, 2014 by Tim Swanson [A PDF version is also available]
Yesterday I was told by a China-based WeChat user that I was "hating on a technology" and "expending energy trying to destroy it." It being Bitcoin. This is untrue, I like some of the ideas in Bitcoin (the protocol) circa 2009 and work daily with startups to create value in this space. However, what currently is called "Bitcoin" is a shell, at most, of its former self for at leas...
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Reasons for why centralization has occurred and potential solutions
July 15th, 2014 by Tim Swanson [Note: this is a follow-up response to the corresponding Let’s Talk Bitcoin #127 podcast. A PDF of the article is available. The opinions in both the podcast and artic... Read More
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How to succeed in Bitcoin’s command economy
July 3rd, 2014 by Tim Swanson The first weekly distribution of LTBCOIN to members of the audience is on Saturday the 5th , we're giving away 1.7 million LTBCOIN to users like you. Learn more
[Note: a PDF of this article is available]
Summary:
- The network contains an inelastic monetary policy that does not integrate with our historical insights about self-i... Read More
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Can Bitcoin change from a bubble economy into a growth economy?
June 16th, 2014 by Tim Swanson -
A Marginal Economy versus a Growth Economy
June 7th, 2014 by Tim Swanson [Note: this is a follow-up response to the corresponding Let’s Talk Bitcoin #116 podcast. A PDFRead More
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