Ohio becomes first state to accept tax payments using Bitcoin

Ohio on Monday became the first state to accept bitcoin as a tax payment option for businesses, and United Press International went to Vellum partner David Veksler for the definitive take on the story: “Part of the reason cryptocurrency is so volatile is that nobody knows what will happen to it in the future,” said David Veksler, director of technology at the Foundation for Economic Education, which promotes free-market economics. “It could fail entirely, it

By David Veksler, ago

Will Bitcoin burn the planet to ashes? Not so fast.

Environmentalists have recently become concerned about the impact Bitcoin mining has on global warming. Headlines such as “Bitcoin Will Burn the Planet Down. The Question: How Fast?” and “Bitcoin Mining Alone Could Raise Global Temperatures Above Critical Limit By 2033” suggest that Bitcoin is an unfolding environmental disaster. However, those panicking about crypto make three fundamental errors. First, they do not understand how Bitcoin works, second, they do not understand what mass adoption would look like, and third, they do not understand the problem Bitcoin is intended to solve.

By David Veksler, ago

Watch out for these five common Bitcoin scams

Purchasing Bitcoin and other cryptocurrencies on your own comes with risk.  Here are the five most common cryptocurrency scams reported by customers of Bitcoin Wallet Recovery Services: 1: Fake mining contracts: “mining contracts” which offer fantastic payouts, such as doubling your money in 10 hours (see screenshot below).  After sending the “mining company” Bitcoin, they either disappear or ask for more money to unlock funds.  Some “mining services” send a public address as proof of payment, or hold

By David Veksler, ago

Jeffrey Tucker Joins RMIT University Blockchain Innovation Hub as Research Affiliate

Jeffrey Tucker accepted a title of Research Affiliate for the RMIT University Blockchain Innovation Hub in Melbourne, Australia. RMIT University is known for applied leading-edge research that engages with business and technology. They are an interdisciplinary team of researchers in economics, political-economy, organizational theory, law, sociology, politics and communications. They work on cryptoeconomics, business strategy and adaptation to blockchain technologies, mapping the blockchain economy, and identifying the public policy challenges that will hold back or accelerate this economic revolution. View a

By Jeffrey Tucker, ago

Why cryptocurrencies are key to future-proofing your portfolio

Digital assets may be the most future-proof investment of our lifetime. Take Bitcoin. At 10 years old it continues to grow because it crosses more technology solutions and popular use cases than any previous attempt at digital currency. It’s positioned right in the middle of the largest trends of the 21st century: distributed platforms, AI, technological singularity, and efficiency disruption.  It is also a practical solution to real economic problems such as inflation. As a fund

By Eric Kovalak, ago

Jeffrey Tucker at the Brain Bar

The Brain Bar is central Europe’s leading festival of ideas and technology. This year, the event featured Jeffrey Tucker as the opening keynote to speak about cryptocurrent and blockchain technology and its meaning and future. Here is a video wrap up of the event.

By Jeffrey Tucker, ago

What’s the deal with Tether?

Tether is a highly capitalized cryptoasset that is distinguished in the space by maintaining a dollar peg to the price of its asset. The growth of this asset has been incredible, as has been the speculation that it maintains too close a relationship with the exchange Bitfinex. It has even been accused of manipulating prices to its own advantage. This latter claim is highly doubtful, and traces mainly to its record of trading to the

By vellumcapital, ago

Introduction to Bitcoin Custody Options

Storing Bitcoin should be simple. A Bitcoin wallet can be generated from a list of 12 or 24 pseudo-random words (the “mnemonic recovery phrase”).  With some wallets, the same words will generate a valid wallet for most existing cryptocurrencies. This word list can be written on paper and placed in a safe (known as “cold storage”), or simply memorized. No other equipment is needed to receive Bitcoin transactions. For an individual, the simplicity of recovering one’s

By David Veksler, ago


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