Bitcoin Update (October 2016)

I’m reducing the frequency of my updates. Hopefully this negatively correlates with quality!

Last Month In Bitcoin:

I created a video to explain one of bitcoin’s most difficult, yet frequently asked questions: What do bitcoin miners actually do?

I wrote about the history and unintended consequences of usury and investment laws. In the same vein, Dan Mitchell criticized anti-money laundering laws.

In his monthly newsletter, “Bond King” Bill Gross warned that central bank policies are unsustainable and investors could desert traditional financial products for bitcoin.

Max Raskin, Research Fellow at NYU Law, made a video explaining how bitcoin challenges legal tender laws (and thus central banks) in the same way Uber challenges taxi monopolies.

I recorded a cold call from a OneCoin salesman. OneCoin is a pyramid scheme and you should avoid it.

Finally, Ryan Castellucci tweaks super computers to find bitcoin private keys. He figures that if current cracking speeds are improved by a factor of a trillion, it would take longer than the age of the universe to have a 1% chance of finding a key to any randomly generated bitcoin address ever used.

Best,

Alex

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