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- Top 10 Cryptocurrencies In February 2022
- Bitcoin vs. Gold: Which is Better?
- Why Everyone’s Obsessed With Crypto
- The crypto dons of Beirut
- Buy and Sell Bitcoin and Crypto Directly with PHP!
- Is there a future for bitcoin? An investor and a skeptic make their cases
- 8 Best Cryptocurrencies To Invest In for 2022
- Could States Cash in on the Cryptocurrency Craze?
- Bitcoin: Delusions of money
- A beginner's guide to bitcoin and cryptocurrency
Top 10 Cryptocurrencies In February 2022
Bitcoin is more popular than ever. According to an HSB survey, one-third of US small and medium-sized businesses accept cryptocurrency as payment. If you invest in Bitcoin, I'm sure this is great news.
To me, it's more proof that a sucker's born every minute. Why the Bitcoin hate? Because it's a con — always has been, always will be. Oh, it sounds good enough. Bitcoin is a decentralized digital currency that you can buy, sell, and exchange directly via blockchain-secured ledgers , instead of relying on an intermediary such as a bank with fiat currency. It uses cryptographic proof instead of trust in a government.
Like fiat money, though, at day's end, its value is in the eyes of its owners. So, what's wrong with that? True, unlike Ponzi or Bernie Madoff, "Bitcoin is bought not as an income-earning asset but rather as a zero-coupon perpetual. But what happens the day that no one buys Bitcoins at any price? As McCauley explains, the Bitcoin endgame wouldn't be like Madoff's, but instead would look more like "a penny-stock pump-and-dump scheme more than a Ponzi scheme.
In a pump-and-dump scheme, traders acquire basically worthless stock, talk it up and perhaps trade it among themselves at rising prices before unloading it on to those drawn in by the chatter and the price action. Like the pump-and-dump scheme, Bitcoin taps into the pure desire for capital gains. Buyers cannot stand the sight of friends getting rich overnight: they suffer an acute fear of missing out FOMO. Does that sound familiar?
If you invest in Bitcoin, it should. Bitcoin's value depends entirely on hype and hope. Lose those and it loses its value. The cryptocurrency has been hit by many crashes, most recently in November, when it dropped to less than half its value. As I write this, it's back up again, but how long will that last? Who knows? What I do know is that as with any money scam, if you're in early and get out, you'll make money.
For Bitcoin, if you invested in or earlier, congratulations, if you got out, or get out soon, you'll make "real" money. After ? Not so much. It was never meant to be this way. Satoshi Nakamoto , the mysterious Bitcoin inventor, meant it as a medium for daily transactions and a way to circumvent traditional banking infrastructure after the financial collapse.
That's not how it's worked out. Today, while you can use Bitcoin for purchases, its real use is a high-risk, high-reward investment gamble. If that's all there was to it, I wouldn't mind that much. People bet on the Super Bowl, horses, poker, so why not Bitcoin? I dislike Bitcoin because it enables cybercrime. Without Bitcoin and other cryptocurrencies, there would be less ransomware.
Just shuffle the payments around Bitcoin wallets and there's almost no chance the crooks will ever get caught. In addition, a great deal of today's malware is Bitcoin-mining software. So, I guess there is another way to make money from Bitcoin: Be a criminal.
Bitcoin also eats power like nothing else on Earth. Mining Bitcoin consumes about 91 terawatt-hours of electricity annually. That's more than Argentina, a nation with 45 million people, uses in a year. And Bitcoin's energy consumption only grows larger every day. That's in part because the fantasy that you can successfully mine Bitcoin from home hasn't been true in years.
You need computers loaded with application-specific integrated circuits ASICs. It's very telling that a recent study found that 0. Remember what I said earlier about the only people who really make money are the ones who were there early?
Simultaneously, mining rigs have driven up GPU prices , This has led to such market oddities as Playstations and gaming consoles being in short supply thanks to all the high-powered processors being grabbed up by miners.
Finally, as my buddy David Gewirtz points out, you can lose your shirt with Bitcoin. In the long run, I expect all but a few to lose their shirts to Bitcoins and other cryptocurrencies. I know that's not a popular view, but seriously people, take a deep breath if you're already into cryptocurrency and think about what I've said. It might just save you a ton of real money. Here are the latest Insider stories. More Insider Sign Out.
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Would killing Bitcoin end ransomware? You can safely ignore Web3. Bitcoin: The virtual currency built on math, hope and hype.
Bitcoin vs. Gold: Which is Better?
Cryptocurrency reached a peak in And this year bitcoin -- and cryptocurrency in general -- penetrated deeply into financial services as well as the culture, gaining an expanding foothold in popular art, commerce and other corners of the mainstream. If you're looking for a primer on bitcoin and cryptocurrencies, you're in the right place. We'll take a look at the basics -- what bitcoin is, where it comes from and how to buy it -- as well as a range of other topics including valuation, legality and its practical applications. Read more: Best bitcoin and crypto wallets for Every bitcoin story must include an image of a physical bitcoin. Note: Physical bitcoin coins do not really exist.
Why Everyone’s Obsessed With Crypto
Mercy Corps is a global team of humanitarians working together on the front lines of crisis, disaster, poverty, and climate change to create a world where everyone can prosper. Beyond delivering aid to meet urgent needs, we develop long-term solutions to make lasting change possible. In over 40 countries, we work with local changemakers, global innovators, and people most affected by crises to help fragile communities break the cycle of poverty, rebuild after disaster, and forge new paths to prosperity in the face of injustice, instability, and climate change. Ellsworth Culver abuse: Mercy Corps is committed to keeping you informed about the actions we are taking. Skip to main content. Who we are Our leadership Careers Research and resources Blog. I'm ready Not today. Read more.
The crypto dons of Beirut
Stuart Alderoty spent nearly two decades working for old, traditional banks doing work that he described as "a little soul-crushing. A headhunter reached out about three years ago to ask if he would consider becoming general counsel for Ripple, then a 7-year-old startup. Ripple uses blockchain technology to process payments, but also offers its cryptocurrency called XRP, making the company a pioneer in a small but fast-growing industry. But Alderoty was intrigued and eventually took the job in January It was a major career shift that he now compares to "jumping off a cliff" -- but "in a really exhilarating way.
Buy and Sell Bitcoin and Crypto Directly with PHP!
Young people are turning to cryptocurrency like bitcoin and ethereum because they can be an opportunity to make more cash quickly. They're also learning about stocks on social media. How are young people navigating these new investment choices? What should they keep in mind and steer clear of? Hit play on the player above to hear the podcast and follow along with the transcript below. This transcript was automatically generated, and then edited for clarity in its current form.
Is there a future for bitcoin? An investor and a skeptic make their cases
Bitcoin is more popular than ever. According to an HSB survey, one-third of US small and medium-sized businesses accept cryptocurrency as payment. If you invest in Bitcoin, I'm sure this is great news. To me, it's more proof that a sucker's born every minute. Why the Bitcoin hate? Because it's a con — always has been, always will be. Oh, it sounds good enough.
8 Best Cryptocurrencies To Invest In for 2022
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.
Could States Cash in on the Cryptocurrency Craze?
It's digital money. As in, it lives online and has no official physical form. But you can still buy it, spend it, sell it, and trade it. Unlike other currencies, crypto is decentralized, aka not backed by any gov or central authority. Instead, it relies on cryptography like special codes to make it secure.
Bitcoin: Delusions of money
You might be using an unsupported or outdated browser. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. To help you get your bearings, these are the top 10 cryptocurrencies based on their market capitalization, or the total value of all of the coins currently in circulation. As with most cryptocurrencies, BTC runs on a blockchain , or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.
A beginner's guide to bitcoin and cryptocurrency
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