Showing posts from January, 2018

Why I'm Boycotting Crypto Currencies

Unless you've been living under a rock somewhere, you probably have heard about the crypto currency called "Bitcoin".  Lately its skyrocketed in "value", and a number of other currencies based on similar mathematics have also arisen.  Collectively, these are termed cryptocurrencies. The idea behind them is fairly ingenious, and based upon the idea that by solving "hard" problems (in terms of mathematics), the currency can limit how many "coins" are introduced into the economy.  Both the math and the social experiment behind them is something that on paper looks really interesting. The problem is that the explosion of value has created a number of problems, and as a result I won't be accepting any of these forms of currencies for the foreseeable future. First, the market for each of these currencies is controlled by a relatively small number of individuals who own a majority of the outstanding "coins".  The problem with thi