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• Posts Authored: 6
• Posts Contributed To: 0

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  42 Comments
  12,186 views

  Categories: Guest Blog

  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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  Tip Tim Swanson

  17duUhm3MmNysjDhhuodK2JxftvUR8Pi9b

  (blockscan)

  

  

  57 Comments
  11,869 views

  Categories: Guest Blog

  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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  14 Comments
  50,396 views

  Categories: General, Columns

  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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  7 Comments
  6,166 views

  Categories: General, Columns

  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

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  [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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  3 Comments
  7,249 views

  Categories: Columns

  Can Bitcoin change from a bubble economy into a growth economy?

  June 16th, 2014 by Tim Swanson

  [Note: a PDF version of the article below is available]
  
  

  I recently wrote an article that received a lot of interesting feedback. 

  One executive, “Alice,” at a Bitcoin startup said,

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  3 Comments
  13,426 views

  Categories: General, Interviews, Let's Talk Bitcoin!, Columns

  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