SynCurrency: Mining Bitcoins
December 18th, 2013
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 […]
Read more »SynCurrency: Bitcoin Under Pressure
December 11th, 2013
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 […]
Read more »Fantasy Sports Provider DraftKings Raises $24 Million
November 30th, 2013
Via Vator TV, a report on DraftKings, a firm that has already awarded over $50 million in prizes this year: Back when I had the time, I used to be really into my fantasy baseball. I’d read all the blogs, watch baseball shows and pay close attention to which players were quietly making a name […]
Read more »SynCurrency: Bitcoin – Digital Currencies’ Napster?
November 30th, 2013
Via The Economist, interesting commentary that bitcoin is to digital currencies as Napster was to music —an experiment whose ultimate failure will pave the way for others to transform the industry: BITCOIN is booming. Investors are piling into the digital currency, which is not issued by a central bank but is conjured into being by […]
Read more »New Jersey Opens Up For Online Gambling
November 27th, 2013
Courtesy of The New York Times, a more detailed look at New Jersey’s decision to allow online gaming: New Jersey began allowing Internet gambling on Tuesday in a much-watched bet that there are untapped sources of revenue on bedside iPads and cubicle desktops, and even among people checking their phones while they wait in line […]
Read more »SynCurrency: What The Bitcoin Bubble Really Says About The Cryptocurrency
November 21st, 2013
Via ReadWriteWeb, an article on bitcoin’s role as an investment asset, not a transactional currency: Back in October, I bought $20 worth of Bitcoin for a ReadWrite article. Since then, I’ve watched my meager 0.119 coins soar in value. When my stash peaked at $71 this week, I determined to sell out. I settled on […]
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