Turns out about 15 months ago, someone had already figured out how the mining costs of hash-based proof of work moved relative to the market prices of tokens, see “Why Bitcoin will never be a good store of value” by Stefan Loesch. One common retort to Loesch’s argument is that at some point in the future, for some reason, users will one day start paying higher tx fees. This is unlikely because it is a collective action problem. Why would people pay several orders of magnitude more to have the same exact service?
A new feature/dashboard that I came across is CoinGecko — has some interesting metrics to look at.
Other links related to digital currencies and China (linking is not an endorsement of service, coin, chain, etc.):
- Asynchronous Consensus and Broadcast Protocols by Gabriel Bracha and Sam Toueg
- Chomping at the Bitcoin: An Expert’s Take on Bitcoin in China from CoinDesk (I interviewed Zennon for both GCON and The Anatomy)
- Black Friday Architect Preet Bharara Possible New US AG from Cards Chat (there are some similar parallels with the evolution in Online Poker + law enforcement with the digital currency startup segment)
- China’s WeChat introduces in-store payments for Dairy Queen and 8 other chains from Tech in Asia
- Why Convertible Notes Are Sometimes Terrible For Startups from Techcrunch
- China’s outward investment surges as growth pattern shows significant shift from South China Morning Post
- ApplePay: Debit issues from Industry Perspective and G2
- Junkets That Fuel Macau Casinos Are on a Losing Streak from The Wall Street Journal
- Resource-based relative value scale
- Feds: Butterfly Labs mined bitcoins on customers’ boxes before shipping from ArsTechnica
- Bitcoin Is Growing Up: Now You Can Hedge Your Investments from Bloomberg
- Global imbalances remain a threat to stability, IMF warns from Financial Times (“The status of the US dollar as a reserve currency seems, if anything, more secure now than in 2006”)
- Water consumption: A canal too far from The Economist
- Oh, Big Brother: you won’t believe how many sites are now blocked in China from Tech in Asia (was super annoying when I lived there, also, recall that nearly all of the Google apps are removed from Android devices and replaced by other similar apps by local phone makers)
- Mining Bitcoin with pencil and paper: 0.67 hashes per day by Ken Shirriff
- Anonymity of Cryptocurrencies Part II – Cryptonote & Darkcoin from CoinBrief
- The Internet’s Missing Link by Stefan Thomas
- Messaging with Gems from CoinFire (interview with a Gems developer)
- [BIP draft] CHECKLOCKTIMEVERIFY – Prevent a txout from being spent until an expiration time by Peter Todd
- 12 USC 378 – Dealers in securities engaging in banking business; individuals or associations engaging in banking business; examinations and reports; penalties from onecle
- Banking Interpretations from NY DFS (regarding PayPal in 2002)
- Bitcoin SF Devs Seminar: Bryan Vu’s deep dive into Coinshuffle & Decentralized coinjoin (see CoinShuffle and CoinJoin)
- FinCEN Director: We’re Not Out to Villainize Bitcoin from CoinDesk
- Assembly Coins (native asset issuance on the blockchain)
- Behold Arscoin, our own custom cryptocurrency! from ArsTechnica
- eBay and PayPal are splitting up from The Verge
- What the Hell is Going on with Monero?! from Bull Bear Analysis
- Making Byzantine Fault Tolerant Systems Tolerate Byzantine Faults by Clement et. al.
- Threshold signatures and Bitcoin wallet security: A menu of options from Freedom to Tinker