What Does It Mean To Own Bitcoin?

Understanding how Bitcoin ownership works requires understanding what it means to “own” a single Bitcoin address. At a practical level, Bitcoin ownership means the ability to send some amount of Bitcoin from one address to another or to cryptographically prove

By David Veksler, ago

Money Is a Practical Art

If you read on the topic of money’s history from any mainstream textbook, you will already know the drill. In the past, money took many forms. It was shells, pelts, salt, and various metals. Finally we got paper money, credit

By Jeffrey Tucker, ago

Three Stages of Ownership

I constantly get the question: why do we need this blockchain thing anyway? Here is why. Every society with a vibrant commercial life exalts private property as an institution. The entrenchment of this institution occurs in three stages. All three

By Jeffrey Tucker, ago

Bitcoin for Beginners

[This article was written for publication on April 1, 2013] Understanding Bitcoin requires that we understand the limits of our ability to imagine the future that the market can create for us. Thirty years ago, for example, if someone had

By Jeffrey Tucker, ago