The necessity of a centralized voice for Bitcoin

Regulation, Uncategorized
The Bitcoin community is in need of centralization. By centralization I do not mean a core authority, but rather a core voice. This is not an optional element in the future success of Bitcoin. While the origins of motivating adoption to Bitcoin have been grassroots, a continual shift in the way Bitcoins are earned by new users is a key reason why a central voice to the currency is essential for merchants and new users to trust adopting the currency. The transition to exchanges & authorities The nature of mining has changed dramatically for cryptocurrencies in the few years Bitcoin has existed. As the computing difficulty grew exponentially with the arrival of ASICs, the ability to earn Bitcoins shifted from the hands of independent users and into those with more powerful…
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Bitcoin and the “R” Word

Bitcoin, Regulation, Uncategorized
The “R” word—Regulation—is a polarizing one in the virtual currency world. On one hand, any sense of acknowledgement or potential trust by a government or financial agency is a sign of impending widespread adoption. On the other, regulation stifles innovation and, for even a radical few, is against the very values of virtual currencies. In reality, the news of potential regulation by the New York Department of Financial Services is a necessary reality for Bitcoin to become a currency for the masses. For some time now, Benjamin Lawsky of New York’s Department of Financial Services has been taking an exceptional amount of time to learn about Bitcoin. From AMAs on Reddit to in-depth conversations via Twitter, Lawsky has spent much of the last six months devising a way to bring…
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