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The Monetary Future's Blog

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12 Ways to Measure the Bitcoin Network's Health

January 2, 2015 Comments (0)

By Jon Matonis CoinDesk Sunday, September 27, 2014 http://www.coindesk.com/12-ways-measure-bitcoin-networks-health/ The ultra-resilient bitcoin network is the world's largest distributing computing project in terms of raw computational power, having long ago surpassed 1 exaFLOPS (1,000 petaFLOPS) – over eight times the combined speed of the top 500 supercomputers. Although since increasing to an amazing 3.2 zettaFLOPS (3,200 exaFLOPS), the project was quietly removed from...

CFPB Warning Ignores Bitcoin’s Consumer Protections

January 2, 2015 Comments (0)

By Jon Matonis CoinDesk Monday, August 18, 2014 http://www.coindesk.com/cfpb-warning-ignores-bitcoins-consumer-protections/ Last week's advisory from the US Consumer Financial Protection Bureau (CFPB) warning consumers about the risks of virtual currencies such as bitcoin diligently listed several obvious risks, but simultaneously omitted the very consumer protections provided by certain cryptographic monies. Citing malicious hackers, potentially high mark-up fees, exchange-rate...

Bitcoins Affected by New York's BitLicense May Trade at Discount

January 2, 2015 Comments (0)

By Jon Matonis CoinDesk Wednesday, July 30, 2014 http://www.coindesk.com/bitcoins-affected-new-yorks-bitlicense-may-trade-discount/ With New York's BitLicense scheme officially three months away, sophisticated traders are already devising strategies to profit from the potential arbitrage opportunities. If implemented in the regulation's final version, the physical address and identification requirements (Sections 200.12 and 200.15) for both sides of a transaction will dilute the inherent...

Beyond New York: What Lies Ahead for Bitcoin

January 2, 2015 Comments (0)

By Jon Matonis CoinDesk Thursday, July 24, 2014 http://www.coindesk.com/beyond-new-york-lies-ahead-bitcoin/ According to the proposed 17th July bitcoin regulation from New York State, the public now has 45 days to comment and then a 45-day grace period prior to full adoption. But what's after 17th October? More importantly, what's after New York? The poor regulators are in a quandary. It's hard not to be sympathetic sometimes. They are practically in a no-win situation, because regulators...

The Bitcoin Mining Arms Race: GHash.io and the 51% Issue

January 2, 2015 Comments (0)

By Jon Matonis CoinDesk Thursday, July 17, 2014 http://www.coindesk.com/bitcoin-mining-detente-ghash-io-51-issue/ Tensions over bitcoin's long-term security have eased following a hastily-arranged roundtable of mining participants on 9th July in London. With representatives from all areas of bitcoin mining and ASIC hardware manufacturing in attendance, the most significant thing about the meeting was that it even occurred at all. A forum for discussing these issues is critical to...

Why the OECD Needs to do its Homework on Bitcoin

January 2, 2015 Comments (0)

By Jon Matonis CoinDesk Tuesday, July 1, 2014 http://www.coindesk.com/oecd-needs-homework-bitcoin/ The Organisation for Economic Co-operation and Development (OECD) recently published a working paper on bitcoin and the implications of financial trust without intermediaries, authored by economist and Special Advisor to the Secretary-General on Financial Markets at the OECD, Adrian Blundell-Wignall. Entitled ‘The Bitcoin Question: Currency Versus Trust-less Transfer...

Government Sale of Bitcoin Establishes Fungibility Precedent

January 2, 2015 Comments (0)

By Jon Matonis CoinDesk Thursday, June 26, 2014 http://www.coindesk.com/government-sale-bitcoin-establishes-fungibility-precedent/ The US Marshals Service (USMS) will auction off the bitcoin seized from Silk Road to the highest bidder tomorrow. It amounts to 29,656.51 BTC contained in wallet files residing on Silk Road servers. In total, there will be nine blocks of 3,000 bitcoin and one block of around 2,656 bitcoin offered in the auction, representing the amount stated in the...

In Search of the Ideal Bitcoin Jurisdiction

January 2, 2015 Comments (0)

By Jon Matonis CoinDesk Tuesday, June 17, 2014 http://www.coindesk.com/search-ideal-bitcoin-jurisdiction/ Jurisdictions embracing bitcoin and bitcoin-related businesses can dramatically improve their countries' economies in a multitude of ways. But, what exactly would a favorable bitcoin jurisdiction look like? For starters, it would ideally have no VAT or capital gains tax on bitcoin transactions and would encourage an active two-way exchange market with national currencies....

DISH, Overstock, and Bootstrapping a New Currency

January 2, 2015 Comments (0)

By Jon Matonis CoinDesk Saturday, May 31, 2014 http://www.coindesk.com/dish-overstock-bootstrapping-new-currency/ On the heels of the recent Dish Network announcement to begin accepting bitcoin payments, we saw the same clueless chorus of naysayers and payment newbies come out claiming that Dish doesn't really accept bitcoin because they actually end up with US dollars. It would be just as ridiculous to say that a hotel in Barbados doesn't accept US dollars because, after the VISA credit...

Inching Towards Bitcoin Derivatives

September 21, 2014 Comments (0)

By Jon Matonis CoinDesk Tuesday, May 27, 2014 http://www.coindesk.com/inching-towards-bitcoin-derivatives/ Bitcoin derivatives are more in demand than ever, as bitcoin company executives seek a way to hedge balance sheet risk. A liquid futures and options exchange for bitcoin will provide commercial hedging opportunities as well as increase overall price stability. This is not disputed. What will be contentious, however, are the paths and methods necessary to get there. In this article, I...