The rise and fall of Mt. Gox
I’m Roger Ver, long time Bitcoin advocate and investor. Today I’m at the Mt. Gox world headquarters in Tokyo, Japan.…
The conspiracy theory economics of Bitcoin
The gold standard – an economy with a finite money supply – was accepted mainstream monetary policy up to the…
Bitcoin Scripts
Each transaction output doesn’t just specify a public key. It actually specifies a script. What is a script, and why…
Bitcoin transactions
Let’s start with transactions, Bitcoin’s fundamental building block. We’re going to use a simplified model of a ledger for the…
Crypto Currency : Cost of mining
Cost of mining. Let’s now look at mining economics. We mentioned it’s quite expensive to operate as a miner. At…
Bitcoin : Incentives and proof of work
Let’s pause for a moment. Everything that we’ve described so far is just an abstract algorithm for achieving distributed consensus…
Consensus without identity using a block chain
Bitcoin’s consensus algorithm. Recall that Bitcoin nodes do not have persistent, long‐term identities. This is another difference from traditional distributed…
Bitcoin : Distributed consensus
In a generic manner, centralization and decentralization. Let’s now examine decentralization in Bitcoin at a more technical level. A key…
Bitcoin : Centralization vs. Decentralization
Decentralization is an important concept that is not unique to Bitcoin. The notion of competing paradigms of centralization versus decentralization…
A Simple Cryptocurrency
Now let’s move from cryptography to cryptocurrencies. Eating our cryptographic vegetables will start to pay off here, and we’ll gradually…
