Crypto change them
I got so many questions from my readers and national radio show listeners that I wrote an e-book about crypto to help. I demystify digital currency, mining, and how to get started trading. Tap or click here to get your copy on Amazon. Sadly, I also hear from people that got fooled by one crypto scam or another.
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Content:
- Why Donate Bitcoin, Ethereum, NFTs and other Cryptocurrencies to Charity this Holiday
- How Banks Can Succeed with Cryptocurrency
- Crypto money laundering rises 30%, report finds
- Can Cryptocurrency Be Converted Into Cash? Read On To Find Out
- Confusion reigns after China slams door on crypto
- Cryptocurrency Experts Say These 4 Factors Are Driving Change In The Industry
- Today's Cryptocurrency Prices by Market Cap
Why Donate Bitcoin, Ethereum, NFTs and other Cryptocurrencies to Charity this Holiday
Exploring the paradoxical rise and uncertain future of crypto. The last 18 months have transformed cryptocurrency. Its growth has been faster than ever, yet its future has never been so unclear. Flush with time on their hands and few activities to spend money on, many consumers have forayed into crypto trading for the first time during the pandemic.
This all leads to one big trend. Cryptocurrency, once only understood among a relatively fringe community of anti-establishment investors, is now becoming a household name — and quickly. Investors believe in regulation, yet are worried about many of the impacts that regulation will bring about.
Digging into these nuances is key to understanding overall consumer sentiment — and predicting consumer behavior — around a very uncertain future of cryptocurrency. The number of cryptocurrency investors has been steadily increasing around the world for a while, but recent growth has been explosive.
Rather, everyday consumers have seen this new asset class as a way to pad their portfolios with potentially more rewarding, albeit riskier, assets. Compared to , older consumers have begun to back crypto at much faster rates. In the U. For a lot of these current and potential investors, crypto offers a new way to handle their finances, and many also find that the financial freedom of crypto has liberated them from the rigidity of traditional banking.
More recently, the upsides of cryptocurrency have begun to attract institutions, and traditional finance is rushing to cater to the increased demand, such as U. Here begins the paradox.
The institutional money that has been pouring into cryptocurrency over the past few years has begun to change the power structure of the market. Thirteen years ago, cryptocurrency recruited users out of a desire to shake up the exclusive, institutionalized world of finance; to create a widely accessible way to move money and pay for goods and services, regardless of individual circumstances. Cryptocurrency, in principle, relies on the collective actions of everyday users to self-regulate; they keep the ledger of transactions — the blockchain — secure and updated, and the process allows anyone with a computer the ability to mine coins.
Fast-forward to , and the future of cryptocurrency is quite different. Over time, the mining network has been ring-fenced by a few companies who can provide the huge amounts of computing power and electricity required to mine at scale, making it very difficult for independent users to get involved. What started out as a fringe movement has, like so many other things, gone corporate as a result of its own success. Alongside corporations entering into the market, crypto trading and mining has caught the eye of government overseers like never before.
Since the invention of bitcoin, governments have done relatively little compared to traditional investment categories to regulate or moderate the market. For the most part, cryptocurrency has been allowed to spread around the world as a uniquely decentralized financial asset. Now, the laissez-faire attitude toward decentralized finance is waning.
Perhaps surprisingly, investors are actually supportive of new regulations, though they have quite conflicting views about what these policies could mean and who should create them. The details of what government oversight will look like, however, matter a great deal to investors. On the one hand, many investors believe greater regulation could legitimize the fledgling marketplace — enabling more businesses to accept digital currencies, increasing their value and security from fraud, all while reducing volatility and criminal activity.
On the other hand, many also worry cryptocurrency regulation could effectively limit its peer-to-peer nature, which drew initial investors in. They also see drawbacks to crypto regulation as a potentially larger threat, not just to their wallets, but to the individual freedoms they currently experience in the decentralized and anonymous marketplace.
The paradox here lies in the difficult balance between wanting regulation, and fearing the loss of the fundamental character of crypto that would result from that very regulation. Regulation offers protection and stability; while crypto has thrived from volatility and anonymity.
Finding a middle ground between regulating a lawless commodity and allowing it to continue to build value will be a challenge for governments, coin exchanges, and investors alike.
For this reason, support for regulation is directed not toward governments, but toward payment companies and exchanges themselves. While many consumers are mistrustful of industries that are allowed to self-regulate, in this case they see it as a potential solution to the unique risks of crypto regulation. While this does not reflect well on consumer views of their government, it does bode well for brands. Either way, it certainly presents opportunities for brands in technology and related fields to become a trusted partner, educator, and safety net — swooping in to fill the gap where governmental trust is lacking.
Despite the explosion in recent years, what the future of cryptocurrency holds is still unclear. For the average investor, for government regulators, and for those attempting to make crypto greener, this is a time of paradoxes to navigate.
While the future of cryptocurrency will be shaped by regulators, it can also be influenced by brands, many of which are jumping into the market to fill the needs of the growing marketplace that governments have so far ignored. Established finance brands and fintech disruptors alike can be a bridge to the future of crypto. Traditional payment companies that offer access and education will no doubt make the market more attractive for older investors, while the growing list of businesses accepting the digital currencies can make the market feel safer and more stable.
How the pandemic has changed consumers' approach to life. The new looks in personal care and what it means for marketing. Sharing the good, the bad, and the ugly on social media.
Pursuit of purpose Inclusive beauty Attention economy Curated online self New wave of wellbeing Future of cryptocurrency. Doug Gorman. Analysts estimate that the global cryptocurrency market will more than triple by Power to the people?
To have your cake and eat it too. The idea of regulation has widespread support Cryptocurrency has been allowed to spread as a uniquely decentralized financial asset.
Crypto has thrived from volatility and anonymity. The uncertain way forward. What the future holds is still unclear. Share this and spread the love. Hungry for more? We got you. Pursuit of purpose How the pandemic has changed consumers' approach to life. More than skin deep The new looks in personal care and what it means for marketing. May we have your attention please How media preferences are changing.
A virtually imperfect life Sharing the good, the bad, and the ugly on social media. At your best How consumers are taking control of their wellbeing. Get all this as a PDF Download. Back to top.
How Banks Can Succeed with Cryptocurrency
In the United States, cryptocurrencies have been the focus of much attention by both Federal and state governments. While there has been significant engagement by these agencies, little formal rulemaking has occurred. Many Federal agencies and policymakers have praised the technology as being an important part of the U. There have generally been two approaches to regulation at the state level. These states hope to leverage investment in the technology to stimulate local economies and improve public services.
Crypto money laundering rises 30%, report finds
You may wonder what makes cryptocurrency valuable, given that it's notoriously volatile. Smaller cryptocurrencies can have even wider price swings. After reading this article, you'll have a better understanding of what makes cryptocurrency valuable and why the price might swing violently within a single day. Cryptocurrencies usually aren't governed or backed by any central authority. Government backing can improve faith in the value of a currency among consumers, and it provides a big spender and collector of the currency. Try paying your taxes in Bitcoin. But since cryptocurrencies are generally decentralized, they derive their value from other sources, including:.
Can Cryptocurrency Be Converted Into Cash? Read On To Find Out
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Confusion reigns after China slams door on crypto
The negative environmental impact of cryptocurrencies such as Bitcoin has been widely covered in the press in recent weeks and months, and their volatility has also been flagged as a cause for concern. Nevertheless, the UN believes that blockchain, the technology lying behind these online currencies, could be of great benefit to those fighting the climate crisis, and help bring about a more sustainable global economy. This process requires so much energy, that the Bitcoin network is estimated to consume more energy than several countries, including Kazakhstan and the Netherlands. And, as fossil-fuelled power plants still make up a major portion of the global energy mix, Bitcoin mining can be said to be partly responsible for the production of the greenhouse gases that cause climate change although, so far, the impact on the climate is far less than that of heavy hitters such as the agriculture, construction, energy, and transport sectors. Another problem is the amount of energy needed for each transaction, which is enormous in comparison to traditional credit cards: for example, each Mastercard transaction is estimated to use just 0. Despite these issues, UN experts believe that cryptocurrencies and the technology that powers them blockchain can play an important role in sustainable development, and actually improving our stewardship of the environment.
Cryptocurrency Experts Say These 4 Factors Are Driving Change In The Industry
The vast majority of U. Men ages 18 to 29 are particularly likely to say they have used cryptocurrencies. In , the Center asked Americans different questions that were focused exclusively on Bitcoin. Pew Research Center has conducted several studies about Americans and cryptocurrency. This survey was conducted among 10, U.
Today's Cryptocurrency Prices by Market Cap
We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Bitcoin prices slipped to a six-month low on Monday. These high-profile people have become a cautionary tale about why converting your cash salary into a highly volatile and largely unregulated digital token may not be such a good idea.
These are the core obsessions that drive our newsroom—defining topics of seismic importance to the global economy. Our emails are made to shine in your inbox, with something fresh every morning, afternoon, and weekend. When the first cryptocurrencies emerged in , the space felt like the Wild West—it was unregulated, it was experimental, and it took a fair amount of know-how to move through it comfortably and not get swindled. Over the ensuing decade, crypto crept towards the mainstream, slowly turning skeptics into proselytizers.
At its peak, cryptocurrency mining was an arms race that led to increased demand for graphics processing units GPUs. Despite the increased demand for GPUs, thecrypto mining gold rush quickly came to an end, as the difficulty of mining top cryptocurrencies like Bitcoin increased just as quickly. Mining cryptocurrencies, however, can still be profitable. So, what is crypto mining, is it legal, and how can you get started? This article takes a closer look at these questions. Most people think of crypto mining simply as a way of creating new coins. Crypto mining, however, also involves validating cryptocurrency transactions on a blockchain network and adding them to a distributed ledger.
Shenzhen, China — Moves by Chinese authorities to close regulatory loopholes around cryptocurrency trading and mining late last week essentially banned all such activities in China overnight. And many crypto holders are still scrambling to deal with the fallout. For many companies that made big bets on crypto over the past several years — particularly companies in the tech industry — options may be limited for cashing in their holdings. That could potentially lead to punishment for investors who deal with exchanges abroad.
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