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How Cryptocurrencies Create More Equitable Merchant-Buyer Dynamics

As the adage goes, “knowledge is power.” In the internet age, nothing could be closer to the truth, but in modern times, data is knowledge when it comes to understanding consumer preferences and trends. For retail, the voluminous amounts of … Continue reading

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Why Bitcoin is Not Truly Anonymous

The notion that Bitcoin is completely anonymous is a widespread one. It is also incorrect even though transactions involving Bitcoin do not involve the transmission of personal information. It is possible for Bitcoin owners to protect their identity to a … Continue reading

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Excellent explainer: how consensus algorithms (including Bitcoin/blockchain) work

The creation of “public ledgers” — like blockchain, popularized by Bitcoin — requires “consensus algorithms” that allow mutually untrusted, uncoordinated parties to agree on a world-readable, distributed list of things (domain names, transactions, title deeds, etc), something that cryptography makes … Continue reading

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The true and complete story of Bitcoin

Bryce Elder’s epic Twitter thread finally reveals the one true tale of Bitcoin’s genesis (“invented by Satoshi Nakamoto, a developer at Nintendo who mysteriously disappeared in the 1990s”); the environmental cost of Bitcoin (“whenever you give a hacker money he … Continue reading

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Your early darknet drug buys are preserved forever in the blockchain, waiting to be connected to your real identity

Blockchain transactions are recorded forever and indelibly, and that means that all the Bitcoin transactions on early Tor hidden service marketplaces like Silk Road are on permanent, public display; because many people who made these transactions later went on to … Continue reading

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If you bought something on Silk Road with bitcoin, the blockchain will remember it forever and possibly reveal your identity

A common misconception is that bitcoin transactions are anonymous. The truth is, unless you are very careful about covering your tracks, your bitcoin transactions can be connected to you. And the transaction records on bitcoin’s public database (the blockchain) can … Continue reading

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Bitcoin's high valuation has ruined it as a medium of exchange

Technological limitations in the design of the Bitcoin system means that the network only processes about seven transactions per second, unless you pay someone with a lot of compute-power to log your transaction, currently at the rate of about $20/transaction. … Continue reading

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Warren Buffett says bitcoin ‘definitely will come to a bad ending’

Dimitrios Kambouris/Getty Images Of cryptocurrencies, Warren Buffett, Berkshire Hathaway’s CEO, said: “What’s going on definitely will come to a bad ending.” Buffett told CNBC the firm would never have a position in cryptocurrencies. Berkshire Hathaway CEO Warren Buffett said Wednesday … Continue reading

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What it's like to be a woman reporter on a cryptocurrency cruise where nearly all the other women are sex-workers

Laurie Penny (previously) got sent on the 2018 CoinsBank Blockchain Cruise — a four-day cruise filled with “starry-eyed techno-utopians and sketchy-ass crypto-grifters” who solved the fact that there almost no women signed up using the “free market”: they paid teen … Continue reading

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Using data-science to evaluate whether Xi Jinping's anti-corruption sweeps were really about consolidating power

China-watchers observed the rise-and-rise of Chinese premier Xi Jinping with caution and sometimes alarm, but also held out some hope that despite his authoritarian tendencies and thin skin, Xi was genuinely committed to rooting out the rampant corruption that has … Continue reading