A tribute to a trailblazer — For the past months the snowline has been creeping down the mountains to the north of Reykjavík. Earlier in November, the city woke up to a few inches snow which have since disappeared, but the white capped mountains to the north confirm that winter is here, and from time to…

Over the weekend a friend of mine sent me a link to a recent article in the Economist, “Flaws in Bitcoin make a lasting revival unlikely”. Reading the article brought about a deep feeling of déjà vu. In the wake of MtGox closing in the winter of 2013–2014, I debated…

For Isaac Newton, it was, allegedly, an apple falling off a tree that provided him with the inspiration to describe the laws of gravity. …

Bitcoin miners now use as much power as the state of Massachusetts. But they are very profitable and, in the near term, they will probably need more. Let’s consider why. The energy consumed in Bitcoin mining protects the Bitcoin blockchain against hacking, it’s a deflector shield if you will, a…

The price of bitcoin barely changed when the Bitcoin block reward halved in early July, unsurprisingly as the reduction was long anticipated. Transaction volume, mining capacity and transfer fees remained roughly the same, to the casual observer the halving had no impact on Bitcoin. A closer examination reveals, however, that…