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The world as it was, 1865-1921: a photographic portrait from the keystone-mast collection - World Wide Web - Wikipedia


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When it reached a high of $19,771 yesterday, Bitcoin made the creator of the cryptocurrency the 44th richest person on the planet – if you go by Forbes’ list , noted Quartz . The problem? Even after eight years since it was launched, we still don’t know who that is.

Over the past few years, many people have been suspected to be the inventor, who goes by the pseudonym Satoshi Nakamoto. The list includes cryptography student Michael Clear, Finnish game developer Vili Lehdonvirta, and even a trio identified by Fast Company.

TNW uses cookies to personalize content and ads to make our site easier for you to use. We do also share that information with third parties for advertising & analytics.

When it reached a high of $19,771 yesterday, Bitcoin made the creator of the cryptocurrency the 44th richest person on the planet – if you go by Forbes’ list , noted Quartz . The problem? Even after eight years since it was launched, we still don’t know who that is.

Over the past few years, many people have been suspected to be the inventor, who goes by the pseudonym Satoshi Nakamoto. The list includes cryptography student Michael Clear, Finnish game developer Vili Lehdonvirta, and even a trio identified by Fast Company.

The clock is ticking. Every second, it seems, someone in the world takes on more debt. The idea of a debt clock for an individual nation is familiar to anyone who has been to Times Square in New York, where the American public shortfall is revealed. Our clock (updated September 2012) shows the global figure for almost all government debts in dollar terms.

Does it matter? After all, world governments owe the money to their own citizens, not to the Martians. But the rising total is important for two reasons. First, when debt rises faster than economic output (as it has been doing in recent years), higher government debt implies more state interference in the economy and higher taxes in the future. Second, debt must be rolled over at regular intervals. This creates a recurring popularity test for individual governments, rather as reality TV show contestants face a public phone vote every week. Fail that vote, as various euro-zone governments have done, and the country (and its neighbours) can be plunged into crisis.

China proves that a successful economy need not be debt financed. Though its not feasible to replicate their state capitalism model but yes they have important financial lessons to teach. ( http://businessnbeyond.blogspot.com/ )




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