Dr. Tiemann reviews how Bitcoin, the new "crypto-currency," works and shows that, while designed to not require the participation of banks or other trusted financial intermediaries, nevertheless, Bitcoin does require a form of verification that can be established by ordinary people, which is not yet available.
Topics & Details
- Tags - Bitcoin, bitcoin mining, blockchain, confidence, credit cards, crypto-currency, Economics, gold standard, trust, verification
- Categories - Crypto-currency, Encryption, Markets, Money, Notes, Security, Technology, Trusted Intermediaries, Viewpoint
- Download the PDF: - "The Irony of Bitcoin"
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