The last year has seen a lot of bloodshed in the Bitcoin market. After the bubble burst, many predicted the death, or at least the…
Posts by Fizikus
Ethereum fundamental analysis
Four or five years ago, during the previous manic Bitcoin cycle, after a steep increase of its rate, it peaked at 1200 dollars, subsequently dropping…
Blood oaths on the internet – from stone money to the smart contract
Somewhere in the middle of the Pacific Ocean is a tiny tropical group of islands called The Yap Islands. They’ve been inhabited by a native…
Zcash, the secret money
With the birth of bitcoin, a hitherto unknown monetary system based on a completely new principle came into being in 2009. Its main characteristic is…
Parallel universes – The DAO, part 3
The previous part explained that following the robbery of the decentralized company called The DAO, Ethereum’s blockchain eventually permanently forked. This was not the original…
The fall of a virtual company – The DAO, part 2
As I demonstrated in the previous part, following its crowdfunding success in May, The DAO’s owners were massively shocked on 17 June. An unknown hacker…
The rise of a virtual company – The DAO, part 1
One of the most interesting innovations of the past years has been the creation of the “world computer”, the Ethereum, which enables the signing of…
Newtonian economics – In motion rather than at rest
According to Aristotelian physics, rest is the natural state of bodies. Their motion requires constant force. This thesis was sustained for two thousand years, which…
New instruments
I am pleased to read that finally the inadequate set of monetary policy instruments is being talked about at the highest level. On Friday, at…
Virtual oil – Ethereum part 3
One and a half years ago, Superblog readers were presented with an investment opportunity that is worth 25 times more today in dollar terms. And…
A WORLD BUILT ON BLOCK CHAINS – ETHEREUM PART 2
Satoshi Nakamoto published his theoretical white paper explaining the mechanism of the bitcoin in October 2008. Although the paper is only 9 pages long, it…
WEB 3.0 – ETHEREUM PART 1
A good one and a half years ago, in summer 2014, I was psyched to learn about the concept of Ethereum. I found it a…
Electric (self) driving capability
Autonomous cars on the track In connection with the recent advances of electric cars in the past few years, it is worth recalling the golden…
Dollar export – The ideal monetary system, part 11
The US balance of trade slipped into negative territory in the 1970s, and the deficit has been on the increase ever since. The crisis slightly…
A world built by hypnosis – The ideal monetary system, part 10
What is impossible in physics is possible in the complex world of the economy: something could happen just because people believe in it. Self-fulfilling prophecy…
Two-tier basic income – The ideal monetary system, part 9
In the previous part, I argued that instead of asset purchases or boosted lending, we could much more successfully avoid deflation and stimulate the economy…
Monetary basic income – The ideal monetary system, part 8
Europe is on the verge of a new recession and deflation. Money should be printed and injected into the bloodstream of the economy. The question…
Bitcoin 2.0 – Ethereum
In an attempt to cash in on the recent popularity and prevalence of bitcoin, inventors have launched a good number (i.e. hundreds) of cryptocurrencies. What…
MONETARY SOCIALISM – THE IDEAL MONETARY SYSTEM, PART 7
Not long ago, there lived an American economist who thought that it would be best to close down the Federal Reserve, the US central bank….
HELICOPTER MONEY – THE IDEAL MONETARY SYSTEM, PART 6
Despite a zero interest rate the threat of falling prices is imminent, which hurts the economy rather badly. In a famous 2002 speech, former Fed…
DECLINE OF THE INTEREST ERA – THE IDEAL MONETARY SYSTEM, PART 5
Historical experience shows that excessive inflation will hurt an economy badly. Taking their time in learning the lesson, governments tasked their central banks with the…
SAVINGS CRISIS – THE IDEAL MONETARY SYSTEM, PART 4
Assume that the idea I explained in the previous part also occurred to one of my ancestors in Ancient Egypt five thousand years ago. Being…
GROWTH FOREVER – THE IDEAL MONETARY SYSTEM, PART 3
I have good news for the reader: I have solved the problem of financing pensions in ageing societies. The plan requires a minimum of one-time…
FORCED TO TAKE RISK – THE IDEAL MONETARY SYSTEM, PART 2
Man is like that – we don’t like to think until we’re in trouble. We rather tend to figure out what went wrong only after…
China gets a taste for Bitcoin
After the Bitcoin frenzy in spring, a few days ago the Bitcoin managed to overcome the 135 USD resistance that had built up over the…
Give the FBI a piece of your mind!
In connection with the closure of Silk Road and the arrest of its owner, the FBI announced that it has seized more than 26,000 Bitcoins…
End of the Silk Road
Silk Road is the leading online drugs marketplace. It’s entirely public on the Deep Web, yet untraceable. Or at least that was the case until…
Monetary Chernobyl – The ideal money system, part 1
In April 1986 an experiment was performed in a Soviet nuclear power station. We all know what happened next: the experiment went wrong and the…
Decades of Kyrgyz utility price cutting
Another decrease in utility prices lies ahead in Hungary, while Hungarian investments in the energy industry are lower than they have been for many years. The…
Exchange bankruptcy priced into Bitcoin?
Currently we are witnessing the “gold rush” era of decentralized virtual money. Bitcoin was only recently invented, and while it’s possible to sense its significance,…
Practical advice for keeping Bitcoins
The article below is aimed at people who like the Bitcoin idea and would like to buy some Bitcoins, but don’t know how to go…
Bitcoin fever gripping the world, part 5: Review
In my opinion, and based on what I wrote in my previous posts, those who dismiss the Bitcoin fever as a typical speculative bubble, as…
Bitcoin fever gripping the world, part 4: Risks
As I explained in my previous post, Bitcoin can be an excellent means of avoiding the risks inherent in the existing monetary system. However, it…
YOU ARE THE CHICKEN!
To this day, I watch with a gaping jaw through the window as an aircraft taxies onto the runway, revs up its jets and takes…
Bitcoin fever gripping the world, part 3: Outside the system
Based on what I wrote about the anonymity of Bitcoin, many might think that it should be outlawed by all means possible. Of course the…
Bitcoin fever gripping the world, part 2: Anonymous money
In my previous post I summarized why Bitcoin can theoretically be used as a means of payment. However, I only mentioned the minimum conditions that…
Bitcoin fever gripping the world, part 1: What gives Bitcoins value?
Imagine a thing that is durable, uniform, divisible and easily deliverable/transferable. My readers, who are doubtless well versed in financial matters, will point out that…
„GREEK DILEMMA”
The game that has been going on for months now between Greece and the EU (as well as the IMF and the ECB) is often…