How Will Bitcoin Work When Mining Rewards Run Out?

Let us frame the question, by reviewing what miners really do… Miners play a critical role in the Bitcoin network. Their activity (searching for a nonce) results in assembling an immutable string of blocks that corroborate and log the universal … Continue reading

Proof-of-Work Alternatives: Massive electric consumption by cryptocurrency mining

Some blogs and news outlets eschew long titles. Publishers want readers to scan a list of topics that fit on one-line each. But, a better title for this article would be: “Massive electric consumption by cryptocurrency mining: An unfortunate environmental … Continue reading

Selfish Ledger: Google’s mass sociology experiment

Check out the internal Google film, “The Selfish Ledger”. This probably wasn’t meant to slip onto a public web server, and so I have embedded a backup copy below. Ping me if it disappears. I will locate a permanent URL. … Continue reading

Blind Signaling and Response presentation posted

Online services mine personal user data to monetize processes. That’s the business model of “free” services. Even if mining is consensual, policies and promises cannot guaranty privacy. It succumbs to error, administrative malfeasance, hackers, malware and overreaching governments. Is there a … Continue reading

Chilling developments in domestic spying

The US government is obsessed about your phone calls, email, web surfing and a log of everywhere that you travel. The obsession has become so intense over the past few years, that they have had to recast the definition of … Continue reading

$1 Billion kick-starts Facial Recognition of Everyone

For access to a home or automobile, most people use a key. Access to accounts or transactions on the Internet usually requires a password. In the language of security specialists, these authentication schemes are referred to as using something that you … Continue reading

Will Google “Do No Evil”?

Google captures and keeps a vast amount of personal information about its users. What do they do with all that data? Despite some very persistent misconceptions, the answer is “Nothing bad”. But they could do a much better job ensuring … Continue reading

Big biz & Uncle Sam like Tor, sort of…

Oceans of Data Try to visualize all the data about you that is recorded, stored or transmitted each day in one form or another. Consider every possible source, both public and private. What if it could all be put together, correlated with data … Continue reading

Profit from Bitcoin without Investing or Trading

I find it encouraging that so many people want to know if they should get into Bitcoin. But, I am discouraged when I discover that “getting into” is a euphemism for investing, trading, flipping or HODL (Buy, then hold on … Continue reading

Lack of standards prompts new Bitcoin wallet advice

This update is an adaptation of my recent answer to a Quora reader who was in a panic. She asked: “What can I do after a hard drive crash? How can I recover my cryptocurrency?” In the past, I would … Continue reading

Bitcoin On a Tear; Ellery’s Updates

June 25, 2019 — Latest Bitcoin Updates In May and June 2019, Bitcoin’s dollar value rebounded handsomely. In just 3 months, it rose from $3850 to $11,800/BTC. «— and above $13,500 just after publication Pundits point to Facebook’s release of … Continue reading

Extra PCs laying around? Why not mine Bitcoin?

I get this question a lot. Today, I was asked to write an answer at Quora.com, a Q&A web site at which I am the local cryptocurrency expert. It’s time to address this issue in my own Blog. Question I … Continue reading

Where are the aliens? Solutions to Fermi Paradox

The Fermi Paradox poses an age-old question: With light and radio waves skipping across the galaxy, why has there never been any convincing evidence of other life in the universe—or at least another sufficiently advanced civilization that uses radio? After all, … Continue reading

Is every Initial Coin Offering a Scam?

OK. Stop! Please, just stop! I get this question every day. More and more people asking about ICOs. I get it… I am an early Bitcoin user, I give blockchain presentations, I write a blog, and I work for a … Continue reading

What sets cryptocurrencies apart from each other?

Today, I was asked to answer this question at Quora: “What sets each cryptocurrency apart from the others?” “Cryptocurrency” is a broad term. It refers to payment coins, of course—such as Bitcoin and Litecoin. But, because most tradeable tokens attain … Continue reading

Have there been successful Transaction Malleability attacks?

First, let’s get some basics out of the way… What is Transaction Malleability? Here are 2 explanations of transaction malleability: [Coindesk] [TechTalk] In a nutshell, Transaction Malleability is a weakness in the original Bitcoin implementation that enables a bad actor … Continue reading

Thoughts on a “Korea Krash”

If you are reading this on January 16, 2018, then you are aware that Bitcoin (and the exchange rate of most other coins) fell by 20% today. Whenever I encounter a panic sell-off, the first thing that I do is … Continue reading

Is Cryptocurrency Good for Government?

Today, editors at Quora asked me to answer a seemingly simple question: “Is cryptocurrency good for government?” This is a terrific question, and one that I write about frequently. The question gives me a chance to summarize the key facets … Continue reading

Why would anyone attribute value to Bitcoin?

Oh, Cheez…We’re back to this question, again! As a Bitcoin columnist, I get this question a lot. Today, an answer was requested at Quora.com, where I am a leading contributor on cryptocurrencies: “Clearly, some people value Bitcoin. But How can … Continue reading

Revisiting Bitcoin Fair Value Calculation

In an April 2014 article, I demonstrated how one might approach a fair Bitcoin valuation. Original Methodology: What fraction will Bitcoin capture of the float needed to support daily global commerce? My methodology was based on the demand that Bitcoin would … Continue reading