Archive for December, 2013

SynCurrency: Mining Bitcoins

Via Quartz, an interesting look at mining bitcoins: New bitcoins are created roughly every 10 minutes in batches of 25 coins, with each coin worth around $730 at current rates. Your computer—in collaboration with those of everyone else reading this post who clicked the button above—is racing thousands of others to unlock and claim the […]

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SynCurrency: Bitcoin Under Pressure

Courtesy of The Economist, a detailed look at bitcoin’s development: ALL currencies involve some measure of consensual hallucination, but Bitcoin, a virtual monetary system, involves more than most. It is a peer-to-peer currency with no central bank, based on digital tokens with no intrinsic value. Rather than relying on confidence in a central authority, it […]

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