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jerryking : bitcoin   28

Buyer Beware: Hundreds of Bitcoin Wannabes Show Hallmarks of Fraud - WSJ
By Shane Shifflett and Coulter Jones | Graphics by Hanna Sender
May 17, 2018
Bitcoin  fraud 
may 2018 by jerryking
A Sidelined Wall Street Legend Bets on Bitcoin
April 16, 2018 Issue | The New Yorker | By Gary Shteyngart.
A Sidelined Wall Street Legend Bets on Bitcoin
Michael Novogratz is searching for redemption in cryptocurrencies.
Wall_Street  Bitcoin  Goldman_Sachs  digital_currencies  currencies  virtual_currencies  metacurrencies  crypto-currencies 
april 2018 by jerryking
Tech Thinks It Has a Fix for the Problems It Created: Blockchain
March 30, 2018 | The New York Times | By DREW JORDAN and SARAH STEIN KERR

Blockchain allows information to be stored and exchanged by a network of computers without any central authority. In theory, this egalitarian arrangement also makes it harder for data to be altered or hacked.....“Everything is moving toward people saying, ‘I want all the benefits of the internet, but I want to protect my privacy and my security,’” he said. “The only thing I know that can reconcile those things is the blockchain.”.....Blockchains assemble data into so-called blocks that are chained together using complicated math. Since each block is built off the last one and includes information like time stamps, any attempt to go back and alter existing data would be highly complicated. In the original Bitcoin blockchain, the data in the blocks is information about Bitcoin wallets and transactions. The blocks of data in the Bitcoin blockchain — and most of its imitators — are kept by a peer-to-peer computer network.

The novel structure allows people to set up online accounts that can securely hold valuable personal information without having to trust a single entity that can hoard, abuse or lose control of the data, as happened with Facebook and the consumer credit reporting agency Equifax....start-ups are using the blockchain in an attempt to pry control of all that data out of the hands of giants like Facebook, Youtube, etc.. ........Tim Berners-Lee has warned that the development of the blockchain could come with unintended consequences, like more activity from criminals operating outside the oversight of governments...... most blockchain projects are still plagued by concerns about privacy. For example, the widely used Bitcoin blockchain allows certain data — details of the transactions between users — to be seen by anyone, even if other data — the users’ identities — remains obscured.....Blockchain-based accounts also rely on users keeping their own passwords or private keys, which people are famously bad at doing......Michael Casey, a co-author of “The Truth Machine,” a new book on the blockchain.
blockchain  bitcoin  howto  crypto-currencies  books  digital_currencies  currencies  virtual_currencies  metacurrencies  Tim_Berners-Lee  unintended_consequences 
april 2018 by jerryking
Should You Buy Bitcoin? Ask a Different Question First
JAN. 5, 2018 | The New York Times | By CARL RICHARDS.

Goals >> Process >> Investments

asking if we should all buy Bitcoin is the wrong question, and that we should ask a different one instead. The question we should be asking ourselves is this: Does buying Bitcoin fit into my investment plan?

That is a much more important question and one that we can all answer much more easily. It places the attention on the process of investing correctly and not on the outcome of events that we have no control over.
Bitcoin  investing  personal_finance  questions  Philip_Mudd  problem_framing 
january 2018 by jerryking
Central Banks Consider Bitcoin’s Technology, if Not Bitcoin - The New York Times
By NATHANIEL POPPEROCT. 11, 2016
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central_banks  blockchain  Bitcoin 
october 2016 by jerryking
Measuring Technology’s Impact on the Evolution of Financial Services - The CIO Report - WSJ
Jun 26, 2015 GUEST VOICES
Measuring Technology’s Impact on the Evolution of Financial Services
ARTICLE
COMMENTS
BITCOIN
FINANCIAL SERVICES
IRVING-WLADAWSKY-BERGER
7 44
By IRVING WLADAWSKY-BERGER
Bitcoin  financial_services  Irving_Wladawsky-Berger 
july 2015 by jerryking
Bitcoin and the Digital-Currency Revolution - WSJ
By MICHAEL J. CASEY and PAUL VIGNA
Jan. 23, 2015

Paul Vigna and Michael Casey have written a new book "The Age of Cryptocurrency"
Bitcoin  start_ups  crypto-currencies  digital_currencies  currencies  virtual_currencies  metacurrencies  books 
january 2015 by jerryking
Program Offers Bitcoin Entrepreneurs Camplike Atmosphere - WSJ
By ROBIN SIDEL
Nov. 30, 2014

Boost, founded in 2012 to incubate a range of startups, is increasingly focused on bitcoin, helping to develop business plans and connect bitcoin-focused entrepreneurs with potential investors. It aims to take the virtual currency beyond the initial enthusiasts who mostly embraced libertarian philosophies and build profitable companies....Mr. Draper, who wants to fund 100 bitcoin companies within three years, said he chooses applicants to join his “tribe” based on their vision and how much they can use the money.

The younger Mr. Draper, who recently raised more than $6 million from investors to fund Boost, benefits if the companies strike bitcoin gold. Boost invests $10,000 to $20,000 for a 6% stake in each company selected for the boot camp.

The participants even bunk together at a dormlike hotel, owned by Tim Draper, across the street from the Boost offices.
Bitcoin  Silicon_Valley  venture_capital  incubators  start_ups  crypto-currencies  virtual_currencies  digital_currencies  currencies  metacurrencies  tribes 
december 2014 by jerryking
Disruptors are just pirates on the high seas of capitalism - The Globe and Mail
DAINA LAWRENCE
Special to The Globe and Mail
Published Wednesday, Nov. 05 2014

Often portrayed as criminal pursuers of riches, pirates don't have the best of reputations. But is there something that can be learned from them?

Jean-Philippe Vergne thinks so.

Last January, the assistant professor at the University of Western Ontario's Ivey Business School introduced a course entitled Lessons From The Dark Side Of Capitalism: How Pirates Help To Shape New Industry. The course aims to help his students see the innovative impacts these fringe-dwellers have on the marketplace.
piracy  disruption  Ivey  Uber  Bitcoin  Airbnb  ride_sharing  new_industries  sharing_economy  mobile_applications  dark_side 
november 2014 by jerryking
Technology will hurt the banks, not kill them
October 15, 2014 | FT.com |John Gapper

Does Silicon Valley really want to blow up retail banking and create an entirely new financial system, or would it prefer to ride on the existing one?...Mr Andreessen, a partner of the venture fund Andreessen Horowitz, added in an interview with Bloomberg Markets magazine last week: “To me, it’s all about unbundling the banks. There are regulatory arbitrage opportunities every step of the way. If the regulators are going to regulate banks, then you’ll have non-bank entities that spring up to do the things that banks can’t do.”...There is no doubt that the infrastructure of retail banks is antiquated, and is built in a way that invites competition from peer-to-peer networks. Nor is there a doubt that banks make themselves vulnerable by how they price – offering core deposit services cheaply or free while squeezing customers on ancillary products such as overdrafts and currency exchange....what is the best way to compete with an industry that makes little from a capital-intensive, regulated service with formidable barriers to entry, and a lot from less protected add-ons? The question answers itself, which is why Silicon Valley focuses on payments while talking about disrupting lending....US laws made it impossible to establish a national credit union open to any customer....One growth area in UK finance has been online payday lending by companies such as Wonga, which promised to extend banking to the underserved. ... tech companies can improve on credit scoring by scanning search histories and social network data...The biggest barrier to competition is that the core business of taking in deposits and keeping them safe is not very profitable in a low-interest world....A start-up bank that has no branches and spends less on patching up legacy software might do this more efficiently – and good luck to those that penetrate the regulatory thicket and try. But it is much less risky to attach a new service to the existing banking infrastructure, and it absorbs less capital....Technology may eventually change the infrastructure of banking but it will not happen soon....“is a long-term threat that will play out over decades, not months or years”...Silicon Valley will compete at the edges, where banks make their best profits.
banks  Silicon_Valley  Marc_Andreessen  Andreessen_Horowitz  disruption  fin-tech  start_ups  Bitcoin  financial_services  underserved  unbanked  regulators  P2P  payday_lending  credit_scoring  low-interest  branchless  capital-intensity  legacy_tech  regulatory_arbitrage  financial_system 
october 2014 by jerryking
How to save bitcoin - The Globe and Mail
The Globe and Mail
Published Wednesday, Jun. 18 2014
bitcoin 
august 2014 by jerryking
Bitcoin is just the beginning - The Globe and Mail
IVOR TOSSELL
Special to The Globe and Mail
Published Thursday, Apr. 24 2014,
digital_currencies  Bitcoin  virtual_currencies  metacurrencies 
april 2014 by jerryking
From Google Wallet to bitcoin, banks’ grip on savers is loosening - The Globe and Mail
CARL MORTISHED
From Google Wallet to bitcoin, banks’ grip on savers is loosening Add to ...
Subscribers Only

If HSBC is contemplating becoming less local in its U.K. home market, it may be because their “local” knowledge tells them that in parts of Africa, ordinary people are doing cashless payment transactions by cellphone without the need of complex apps, not to mention debit cards or cheques....The real risk for the banks, however, is disintermediation, where the social media and Internet platforms simply channel moneydata from customers to retailers or from lenders to borrowers without bank intervention. Crowd funding and peer-to-peer lending platforms are still in their infancy, but that is probably because they lack the connection to the vast pot of money that would be available from a Google-bank or Face-bank.

Finally, there is the money issue, made relevant by the bizarre phenomenon of bitcoin, the ultimate disintermediation tool. If the unit of value as well as the medium of exchange moved out of the world of banking and into the ether, the transition to a debanked world would be complete.

LONDON — The Globe and Mail

Published Thursday, Dec. 12 2013
banks  banking  Google  Facebook  P2P  peer-to-peer  HSBC  disintermediation  bitcoin  regulation  mobile_payments 
december 2013 by jerryking

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