In just eight years, Bitcoin and the idea of “virtual currency” have gained acceptance and use both online and in the physical world. Spread by word of mouth and other “viral” means, decentralized virtual currencies have gone from a mere thought experiment to a tangible economic reality.
Today, one can use Bitcoin or other currencies not backed by the U.S. government to buy physical goods and services and online services. Established companies, such as Dell, DISH Network, Microsoft, and Papa John’s Pizza, all accept Bitcoin payments.
As with conventional currencies, participants in Bitcoin trade work for credits. A special program uses computational cycles on a participant’s computer processor to verify and record a vast public ledger of all Bitcoin transactions, called the “blockchain.” In return for their “e-labor,” participants receive a small reward for each successful completion of the blockchain verification process.
The introduction of Bitcoin, by a still-unknown individual...
The age-old analogy describing a good salesman is “He can sell ice to Eskimos.” Let us now contemplate the opposite. What if someone has repeatedly screwed up so terribly – they could damage the sale of the hottest of commodities to a full panoply of desperate buyers? How could anyone hamstring a water auction – in the desert?
We face that possibility in March. And that incompetent, over-meddling salesman – is government. The auction in question is the latest wireless spectrum auction – and the...
The world is watching and taking note of the FCC’s blatant competition double standard that totally favors America’s dominant edge platforms above most everyone and everything else.
Consider an apt and illuminating comparison between the competition U.S. wireless broadband providers face versus the competition Silicon Valley’s edge platforms face.
The FCC’s Non-Neutral Internet Competition Policy
The FCC’s 2015 Open Internet Order has an implicit blind-eye competition...
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