Category: History

The Financial Times: Bitcoin – bonkers or brilliant?

.Reading time 1 minute.

[click the image to enlarge] Fred Wilson, one of the most respected venture capitalists in New York, says he has not seen a technology with this much potential since the invention of the internet. You can get an idea of how many physical businesses accept Bitcoins or Litecoins at coinmap.org, which lists them. As of […]

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The definition of seigniorage should also be applied to Bitcoin

.Reading time 2 minutes.

The profit made by a government from the printing of money, literally the face value of the money minus the cost of physically making it. Seigniorage is the revenue governments derive because the cost of minting coins or printing paper money is less than the market value of the money. The basic idea of seigniorage […]

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