The chief executive of crypto-friendly $13 billion custodian Kingdom Trust, Ryan Radloff, sees Bitcoin (BTC) as a manifestation of Austrian economics. In an interview with Cointelegraph, Radloff said that he first encountered Bitcoin toward the end of 2011, adding that he began “hodling and accumulating shortly after.” Bitcoin as Austrian Economics Unlike many early adopters, Radloff stated that it wasn’t the technology underpinning Bitcoin that attracted him to crypto, rather the economic principles that the nascent cryptocurrency embodied. “For me, what drove to Bitcoin wasn’t the technology at all. [...] I had been a student of monetary policy, specifically the …

Born within a financial meltdown and crisis, Bitcoin (BTC) has found itself again in the role of a proto-savior for the current failings of fiat and national currencies. Those failings namely being that national fiat currencies continue to be printed at a whim when political leaders are caught in a catch-22 between mass poverty and mass currency inflation — with any result likely being a compromised and unsatisfying mélange of stagflation. Nevertheless, Bitcoin still isn’t immune from the pressures of a world steered toward uncharted waters. While one might respect the philosophical rigor of Bitcoin, it goes without saying that …

The underlying premise of many video games might actually give people a core understanding of economics, especially in the crypto space. “As a kid, I played a lot of RuneScape,” crypto YouTuber and programmer Ivan on Tech said in a March 28 video. RuneScape is a medieval era fantasy game in which players interact with other live players, completing journeys, buying, selling, and trading various tools and materials, as well as battling. “A part of RuneScape is that it has its own economy,” Ivan said. “There’s actually a lot of experience you get from playing games as a kid,” he …

During the Code4Future conference, the first event in Italy dedicated to the concept of open innovation held at the Talent Garden in Rome, the former Minister of Economy and Finance Giulio Tremonti — currently president of Aspen Institute Italia — expressed his thoughts regarding the future of digital payments and the advent of cryptocurrencies. On Nov. 8, the first day of the Code4Future event, Tremonti took part in a round table discussion, during which he said the opportunities offered by the fintech sector were changing both business logic and the role of traditional banks: “Banks may be caught off-guard by …

The head of Russian oil company Rosneft has not ruled out the possibility of paying for oil using cryptocurrencies in the future, according to a report by Snob.ru on June 6. Igor Sechin said the industry’s acceptance and awareness of digital assets is beginning to rise as Silicon Valley tech giants including Google, Amazon and Apple begin to explore the oil and gas sector. While he suggested that the stablecoin Facebook is currently developing could one day be used to purchase oil by the barrel, Sechin warned there are some hurdles that cryptocurrencies need to overcome if they are to …

So is crypto actually a currency? This is open to interpretation. While some crypto startups have sought to ensure that their tokens can be used to buy something specific — whether its collectible cats or stocks — others are creating assets with a deliberately limited supply to help crypto users store value and see it appreciate over time. One example is Bitcoin Rhodium. Its commodity, XRC, has a total supply of 2.1 million tokens coded in the blockchain. Named after a rare precious metal, the new crypto asset argues that other solutions were not a tempting proposition for investors seeking …

A crypto company has signed a memorandum of understanding with a university in the United States with the aim of building the cryptocurrency model envisaged by Satoshi Nakamoto when the Bitcoin network was launched 10 years ago. SovereignWallet says it will be collaborating with the University of Southern California’s Viterbi School of Engineering to develop the project, which has been named the MUI Meta-Blockchain. While profits associated with Bitcoin have become “highly concentrated with a small number of miners with large capital [...] especially those who have the most powerful computers,” both parties want to pursue the type of decentralized …