Bitcoin was cool until it sucked

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Suddenly no one seems to be talking about Bitcoin anymore.

As a general rule, things that are practical tend to be neither cool nor fun. This handy-dandy heuristic also provides some insight into why, as Bitcoin became more well-known, as more stuff sprung up around it, and as cryptocurrency in general became a “space” for “innovation,” Bitcoin itself went down the drain. It’s currently worth around $3,500 per coin, which is $1,000 less than the current electricity cost of mining one on your computer. (Disclosure: I own about $50 worth of Bitcoin because I am dumb as shit.)

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Drew Millard — The Outline

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Bitcoin: The Most Impressive Speculative Bubble In Modern History


Do you believe in Bitcoin’s future as the currency of choice?

The same technology that makes bitcoin secure as a means of exchange also makes it hideously inefficient compared to other payment technologies. But the more serious objection to bitcoin is that it enables criminals and terrorist organizations to move value around the world out of sight of national governments and law enforcement. Some nations that have already banned bitcoin include China, India, Sweden and Vietnam. So far none of the Anglo nations have been willing to prohibit this overt act of criminality – at least not yet.

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Christopher Whalen — The American Conservative

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From Bitcoin to Ethereum


These crypto currencies have been hot topic of discussion recently with the success of Ethereum. Today’s needull tries to explain what these are and the differences between Bitcoin and Ethereum.

The Ethereum blockchain is much faster than that of Bitcoin. The delay between two blocks in the bitcoin system is around 12 seconds. The propagation time of a block through the network, understandably, poses de facto new challenges. The Ethereum protocol provides solutions in both cases. Moreover, and this is the great innovation of this platform, one can arbitrarily store data on the blockchain—by which I mean smart-contracts—that are, in fact, programs written in a complete Turing language. There is thus no restriction on the complexity of programs that can be deposited on this particular blockchain.

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Aurélien Alvarez, reply by Jean-Paul Delahaye — Inference

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