Will lack of regulation kill Bitcoin?

Bitcoin has continued to rise in price, if not in adoption. Other than small services here and there, commerce is justifiably sceptical about using it as a means of exchange. Where BTC has been generating news is in its price, and there it has shown that some people will invest in it, hoping to [...]

Why does law enforcement ignore the virtual economy?

Is it still theft if the money is not real?

Consider the following scenarios:

A person has all of their money taken from their bank account by fraudsters. An armed gang enters a bank and takes all of the cash stored there. A person has their credit card stolen and the thief goes on [...]

We need decentralized cryptocurrencies, we just don’t need Bitcoin

Just another day at Bitcoin

As I am finishing writing this post, Bitcoin (BTC) is in the middle of a crash, or what some people call in technical terms, going completely bonkers. I have been unhealthily interested in bitcoins for more than a year, and I have been following it closely. This includes reading [...]

Virtual currency and virtual property revisited

Still waiting for an orc raid on Stormwind’s Bank

It feels like 2007 all over again. There seems to be a resurgence in articles and blog posts seriously discussing the subject of virtual property and the virtual economy, something that was very familiar in the tech press around the time of Second [...]

A look at the Bitcoin network transaction history

I have been reading an eye-opening paper by mathematicians Dorit Ron and Ami Shamir, looking at the entire transaction history of the Bitcoin network. For those unfamiliar with Bitcoin, it is a cryptographic currency that was created with the stated intention of generating a decentralised payment system for the Internet era (my earlier take [...]

Network analysis deflates Bitcoin’s anonymity myth

Charting transactions from an alleged theft

Some readers may remember that some time ago I wrote a post about Bitcoin, an interesting online payment experiment in the shape of a cryptographic currency. My conclusion was that the currency was probably illegal in the U.S. and Europe, and left it at that. At the time [...]

Is Bitcoin legal?

Could the next revolution in payment systems be already here? Bitcoin is a non-fiat cryptographic electronic payment system that purports to be the world’s first cryptocurrency. In other words, it is a peer-to-peer, client-based, completely distributed currency that does not depend on centralised issuing bodies to operate, the value is created by the users, [...]