Timothyblee - timothyblee.com - Bottom-up

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New Job 11 May 2013 | 03:24 am

I’m excited to announce I’ll be starting a new job on Monday, covering tech policy with the Washington Post‘s Wonkblog team. Led by Ezra Klein, WonkBlog provides in-depth analysis of domestic policy i...

Why Programmers Are Excited About Bitcoin 18 Apr 2013 | 08:21 am

I’ve noticed a contrast in the way programmers and non-programmers react when they first hear about Bitcoin. And I think an analogy to cryptography helps explain it. Cryptography has been around for c...

“Hoarding” Causes Deflation, Not The Other Way Around 15 Apr 2013 | 09:01 am

I keep seeing people making the argument that Bitcoin’s limited supply leads to deflation, which leads to “hoarding,” which kills Bitcoin’s value as a currency. This argument gets things exactly backw...

Bitcoin’s Volatility Is A Disadvantage, But Not A Fatal One 13 Apr 2013 | 04:42 am

Yesterday I promised to address the issues raised by Bitcoin’s volatility. Bitcoin’s critics are absolutely right that stability is a desirable property for a currency, and that Bitcoin’s large swings...

Bitcoin Doesn’t Have a Deflation Problem 12 Apr 2013 | 08:39 am

A number of smart people have made arguments like this one from Matt Yglesias: If over time more and more people want to use Bitcoins to conduct transactions of various kinds, then the price of bitcoi...

An Illustrated History Of Bitcoin Crashes 11 Apr 2013 | 12:45 pm

Wednesday saw one of the largest declines in Bitcoin prices in the cryptocurrency’s lifetime. Many commentators declared the fall the beginning of the end for Bitcoin. I’m not sure if that’s correct o...

Nobody Knows If There’s A Bitcoin Bubble 11 Apr 2013 | 12:09 am

It has become almost obligatory for mainstream journalists writing about Bitcoin to describe the currency’s current value as a bubble. It’s widely assumed that the recent increase in the value of a bi...

Bitcoin Is A Disruptive Technology 10 Apr 2013 | 11:21 am

A financial network is a technological platform that people build businesses on top of. And the traditional banking and credit card networks are closed platforms. If you want to build an e-commerce si...

Four Reasons Bitcoin Is Worth Studying 7 Apr 2013 | 09:32 pm

As Adam Ozimek points out Bitcoin has so far largely been greeted with eye-rolling by professional economists. One reason is that the cryptocurrency’s most enthusiastic advocates tend to subscribe to ...

Four Reason You Shouldn’t Buy Bitcoins 3 Apr 2013 | 12:07 pm

Discussion of Bitcoin is divided into two camps. People who understand the currency well tend to be enthusiastic boosters. Conversely, Bitcoin critics tend not to understand the currency very well. As...

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