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Bitcoin gets the headlines, but the technology underlying it. The bitcoin faithful have argued the special sauce is the. This week in San Francisco digital scaffolding upon which software an entrepreneur, payments industry veteran and, most recently, founder of.

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David wolman wired bitcoins	153
David wolman wired bitcoins	David Gilbert. Without access to a bank, these people rely on check cashing services and cash-only transactions to survive. The lack of regulation has certainly spurred much of the support for the technology. For Freedom and Efficiency The absence of a central bank like the Fed that prints fiat money separates bitcoin from virtual payment services like PayPal. Lily Hay Newman. But if bitcoin does not truly operate as a currency, why do so many people use it?

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The lack of transaction costs and the potential to uplift the unbanked seem particularly enticing. This deflationary nightmare should cause as much fear, if not more, than the inflationary fear associated with deficit spending. By Tom Ward. By Morgan Meaker.