(Zero Hedge) While citing multiple problems with the decentralization model for cryptocurrencies (some of them valid and some of them not), the Bank for International Settlements has concluded in a report released this week that crypto ‘can’t fulfill the role of money.’
cryptocurrency
The Crypto Option: Russian Workaround To Mitigate Western Sanctions, or Digital Mirage?
(Antonio Graceffo) After the 2014 Russian invasion of Ukraine, the U.S. prohibited Americans from doing business with Russian banks and oil companies, inflicting an estimated $50 billion per year of damage on Russian firms. As a result of the 2022 Russian invasion of Ukraine, the U.S. and its allies are imposing even harsher sanctions.
BREAKING: Biden to Sign Exec Order to Regulate Cryptocurrency
(Amber Crawford) Biden will reportedly be signing an executive order later this week which will outline the government’s strategy for cryptocurrencies, marking the first step towards the regulation of digital currency.
FBI Announces Formation Of Cryptocurrency Unit Just Days After Trudeau Freezes Crypto Accounts Of Freedom Convoy Supporters
(Adam Wilson) This week, Canadian Prime Minister Justin Trudeau activated Canada’s Emergency Act for the first time since its creation in 1988. The act could result in a widespread crackdown against civil liberties in Canada, particularly against Freedom Convoy demonstrators and their supporters.
Hundreds of Salvadorians Say Bitcoin Has Vanished From Their Government-Issued Centralized “Chivo” Wallets
(Ethan Huff) It is being reported that hundreds of people in El Salvador are unable to access Bitcoin in their centralized, government-issued “Chivo” Wallets.
Crypto About To Become A Partisan Issue?
(Vince Quill) Everything that politics touches, it destroys.
China’s Central Bank Bans All Cryptocurrency Transactions
(Arsenio Toledo) China’s central bank has banned all cryptocurrency transactions in the communist nation.
Crypto: The Bitcoin Lightning Strike
(CryptoCorner) Lightning: Bitcoin’s Second Layer. When Bitcoin arrived in January of 2009, one of the first criticisms was that it was too slow. It takes about an hour for a transaction to finalize on the network.* It was also criticized because the block size limited the number of Bitcoin transactions meaning that Bitcoin couldn’t compete with Visa and MasterCard.** This all changed with the adoption of the Bitcoin Lightning Network. The base layer—the Bitcoin blockchain—is great for final settlement of large transactions; however, with an hour wait time for a transaction, it’s terrible for buying a cup of coffee.
Crypto: Why Cryptocurrency? Why Bitcoin?
(CryptoCorner) Some of them are scams. A few have stood the test of time. A couple have demonstrated novel innovation. And all of them are complicated. Let’s simplify all of that and look at how you might use one of them in your daily life.
“The Financial Story of the Century Continues to be Ignored” The SEC’s Case with Crypto Innovator Ripple Labs Heats Up
(Joe Hoft) The crypto wars continue.
China’s Plan to Build Own Cryptocurrency a ‘Recipe for Disaster Worldwide,’ Nunes Warns
(Natalia Mittelstadt) Rep. Devin Nunes (R-Calif.), ranking member of the House Intelligence Committee, is warning against China’s interest in developing its own cryptocurrency.
Bitcoin, Russian TV, and Devaluing the Dollar
(Jon N. Hall) The confluence of the pandemic, gargantuan deficits, Democrat rule, and frenzied money creation by the Federal Reserve has gotten a lot of economic types and investors worried. There’s talk of inflation, hyperinflation, a stock market crash, and even the devaluation of the USD: i.e. the U.S. Dollar. I mydamnself thought the yogurt would finally hit the fan two years ago. That’s when the 10-year T-notes sold during our first trillion-dollar deficits (2009-2012) started coming due. But we’re still chugging along, so what do I know? Perhaps these gloom-and-doom sorts that one sees nowadays are alarmists or have something to sell.
Economist Rips Up Paper Money On TV, Declares ‘He Who Has The Bitcoin Makes The Laws’
(Patrick Howley) Economist Max Keiser ripped up paper money on a CNBC broadcast and declared “He who has the bitcoin makes the laws” after a television media person warned him that ripping up paper money is allegedly illegal. Keiser is best known for his campaign to “Crash JP Morgan-Buy Silver,” which he broadcast on The Alex Jones Show. Alternative currency is under intense scrutiny, with fed Janet Yellen determined to try to shut down cryptocurrency.
BEGINNER’S GUIDE: Your Cheat Sheet To Getting Into Bitcoin (and $10 in Free Bitcion, yes really!)
(We Love Trump) No, this is not a paid ad. It’s also not financial advice. It’s just me, Noah, and I’m writing this article because I can’t respond to the (literally) hundreds of people asking me about bitcoin.
Does Bitcoin Use “Too Much” Electricity?
(Allan Stevo) In doing so, she makes a judgment about the “correct” amount of electricity use. But it raises the question of who is entitled to make such a judgment.