Why the First Round of Digital Gold Companies Failed to Achieve a Free Gold Standard

Ken Griffith on May 5, 2014

From 1996-2008 the Internet facilitated the rise of an international digital gold system, with multiple issuers and exchange agents in many countries.  At its peak this system was seeing above 84 metric tonnes per year in gold transactions used for a very wide variety of purposes ranging from commerce to international remittances.
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Bitcoin – A Jack of All Trades is the Master of None

Ken Griffith on February 6, 2014

As cybercommerce begins it will lead inevitably to cyber-money.— James Davidson, The Sovereign Individual, 1996

The hype surrounding Bitcoin has gone off the charts in the past year.  For those of us who have been involved with digital currency systems since the 1990’s, it is interesting to see how people caught up in the hype think Bitcoin is wonderful but in many cases cannot clearly see the reason why.  Other enthusiasts think that Bitcoin is the ultimate solution for all payments.

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