Bitcoin Cover For Oct 31-Nov 6 (The Economist)

[freedomno1]

The value of a bitcoin has been pretty stable, at around $250, for most of this year. Among regulators and financial institutions, scepticism has given way to enthusiasm (the European Union recently recognised it as a currency). But most unfair of all is that bitcoin’s shady image causes people to overlook the extraordinary potential of the “blockchain”, the technology that underpins it. This innovation carries a significance stretching far beyond cryptocurrency. The blockchain lets people who have no particular confidence in each other collaborate without having to go through a neutral central authority. Simply put, it is a machine for creating trust.

http://www.economist.com/news/leaders/21677198-technology-behind-bitcoin-could-transform-how-economy-works-trust-machine


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The fun part is that when this was written it was $250 now we are at $310 

[StevenLiang]

The value of a bitcoin has been pretty stable, at around $250, for most of this year. Among regulators and financial institutions, scepticism has given way to enthusiasm (the European Union recently recognised it as a currency). But most unfair of all is that bitcoin’s shady image causes people to overlook the extraordinary potential of the “blockchain”, the technology that underpins it. This innovation carries a significance stretching far beyond cryptocurrency. The blockchain lets people who have no particular confidence in each other collaborate without having to go through a neutral central authority. Simply put, it is a machine for creating trust.

http://www.economist.com/news/leaders/21677198-technology-behind-bitcoin-could-transform-how-economy-works-trust-machine


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The fun part is that when this was written it was $250 now we are at $310 

That's good. 
But we cannot leave the history when bitcoin price drop from $1,200 to on stable level @$250

[RustyNomad]

That caption should read....

"How the technology behind bitcoin will change the world"

Will definitely get myself a copy of this issue.

[Q7]

I happen to notice the statement on "In blockchain we trust". And perhaps another thing that caught my attention is how they want to deliver the message that a currency can be technology based and with the chain and gear image, i think it's a good choice used as the perfect representation.

[cellard]

The value of a bitcoin has been pretty stable, at around $250, for most of this year. Among regulators and financial institutions, scepticism has given way to enthusiasm (the European Union recently recognised it as a currency). But most unfair of all is that bitcoin’s shady image causes people to overlook the extraordinary potential of the “blockchain”, the technology that underpins it. This innovation carries a significance stretching far beyond cryptocurrency. The blockchain lets people who have no particular confidence in each other collaborate without having to go through a neutral central authority. Simply put, it is a machine for creating trust.

http://www.economist.com/news/leaders/21677198-technology-behind-bitcoin-could-transform-how-economy-works-trust-machine


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The fun part is that when this was written it was $250 now we are at $310 

That's good. 
But we cannot leave the history when bitcoin price drop from $1,200 to on stable level @$250

Well, I just hope that when  $1,200 looks like a small bump in the all time graph people don't cry about not buying when it was still 5 figures.
About the article, I love the graphic, and love the fact it shows the Bitcoin as an essential motor of the blockchain because it's what it is, but the actual article is a bit a little bit annoying with the "blockchain technology" approach.

[AtheistAKASaneBrain]

The design is really cool. I haven't hear the article but i've read some reddit comments related to it, it's better than we've had thus far but still not on point.. they are still a couple of Andrea's lectures away to fully get it.

I would really love that someone makes t-shirts with that design, it looks really neat.

[BobK71]

The article is actually negative on Bitcoin as a currency, even though it likes the blockchain technology.

This can only be expected from a magazine that sells itself as a champion of free markets but just happens to love the dollar and American hegemony at every turn.

[Arcteryx]

The article is actually negative on Bitcoin as a currency, even though it likes the blockchain technology.

This can only be expected from a magazine that sells itself as a champion of free markets but just happens to love the dollar and American hegemony at every turn.

What do you expect from a Capitalist publication? Praise and promotion for this emerging enemy to the US dollar 

[PolarPoint]

I read it. It explains how the blockchain is useful and it is unfair to judge bitcoin when it is heard associated with crime. It is a good introduction to blockchain technology for the readers. I think this is good publicity, to appear in a journal.

[Amph]

well now, i don't know what the average joe are waiting to jump on this train, i mean they wanted stability, we have stability 250 since months like you said

now that the trend seems in a good mood, and is making the price increase, there is no excuse to embrace bitcoin

[Pierre 2]

Suddenly big dogs behind economy started to change their approach towards technology behind bitcoin.
This might affet people's behaviour so may build trust over bitcoin (reluctantly)

[jaysabi]

From an institutional standpoint, the currency is of little use and the real promise lies with the blockchain. Nasdaq is already experimenting with blockchain technology to settle trades. From Nasdaq's perspective, the currency doesn't solve any issues, and this is true of most organizations. If people want to pay with bitcoin, most companies can easily accept bitcoin payments if it gains a critical mass, however they're going to immediately convert to fiat because there is substantial business risk in holding a volatile asset like bitcoin. So from a currency standpoint, it's very uninteresting and inconsequential even if the currency gains a critical mass. However, the blockchain technology has applications outside of the currency, and this is where the real promise for change and revolution lies. Nasdaq is experimenting with blockchains in an attempt to cut down the trade settlement time from 3 days to nearly instantaneous. A change like that would revolutionize trading, and that's just a start of potential blockchain uses.

[dothebeats]

Nice graphic. I like how they represent bitcoin and the blockchain. I'll be getting this issue and be placing this in the coffee table. 

[bct-user]

How the technology behind bitcoin will change the world

this article prefer to blockchain rather than bitcoin.
well blockchain itself is very useful i think, it will solve a corruption problem in a country.