Crypto critics

What's the truth about Bitcoin? Many others agree. But Bitcoin's critics are wrong: there's nothing faddish about it. Bitcoin is a monetary revolution and is here to stay.



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WATCH RELATED VIDEO: The Complex History and Weird Transition of DAOs (Decentralized Autonomous Organizations) Episode 46

Matt Damon ripped over cringe-worthy crypto commercial


Thirteen years ago on January 3, bitcoin officially launched after what's known as the Genesis Block was mined. Though the bitcoin whitepaper was released by Satoshi Nakamoto, the pseudonym used by bitcoin's creator or creators , on October 28, , many say its mint date of January 3, represents the cryptocurrency's birthday. Despite another ban from China , increased regulatory scrutiny and wild volatility, bitcoin had a record year in on many accounts. This past year marked the start of mainstream adoption for bitcoin with several firsts, including all-time highs in its price and hashrate, among other things.

Trust in bitcoin grew with the support of institutional and retail investors throughout Now the largest cryptocurrency by market value , bitcoin has become prominently known as a peer-to-peer financial system. Its supporters see it as a hedge against inflation, a digital gold and a viable currency. But keep in mind that its critics still argue that bitcoin is a risky and speculative asset.

Experts generally advise investing no more than you can afford to lose. The milestone came after major institutional investors and notable financial companies began to support the cryptocurrency earlier in the year.

Companies including Tesla, Square and MicroStrategy started to use their balance sheets to buy bitcoin. In March, Morgan Stanley became the first big U. After its clients "demanded exposure to bitcoin," the investment bank launched access to three funds that enable ownership of bitcoin. In June, El Salvador passed a new law to adopt bitcoin as legal tender, becoming the first country to do so.

The law allows bitcoin to be used as payment for goods and taxes in El Salvador. Businesses can price their goods in bitcoin, and exchanges will not be subject to capital gains tax, CNBC reported. The bitcoin futures ETF tracks contracts that speculate on the future price of the digital asset, rather than the current or "spot price" of the cryptocurrency itself. As a result, the prices of the ETF and bitcoin don't necessarily match.

Taproot, a highly anticipated upgrade to bitcoin , also went into effect in November. It was bitcoin's first major upgrade since Taproot introduced what's called Schnorr signatures, which help bitcoin transactions become more private and efficient, and less expensive.

Most important, the upgrade better enables bitcoin to execute smart contracts , or collections of code that carry out a set of instructions on the blockchain. The remainder is not expected to be mined until February Until then, miners can continue to earn bitcoins. Bitcoin operates on a proof-of-work model, which means that miners must compete to solve complex math problems to validate transactions.

On January 2, bitcoin's hashrate hit an all-time high of Hashrate is a key metric when assessing blockchain strength. It represents the total amount of computing power used by miners to mint new bitcoins, but a higher hashrate also means that the network is stronger, more secure and resistant to potential attack. Sign up now: Get smarter about your money and career with our weekly newsletter.

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It's payday for New York City's newly elected Mayor Eric Adams — but those dollars won't burn a hole in his pocket this weekend. Adams, 61, is keeping a promise he made in November to collect his first three paychecks in cryptocurrency. Though federal law require employers to pay base wages and salaries in government-issued currencies, the mayor is using a workaround to convert his funds to Bitcoin as well as the second-largest cryptocurrency, Ethereum. So how much Bitcoin and ether — that's what Ethereum's coins are called — can Adams get with his paycheck?

Bitcoin Mining Council faces critics · The group was formed after Tesla CEO Elon Musk expressed concerns over Bitcoin mining's 'insane' energy.

Can Crypto Go Green? How to Invest in Eco-Friendly Cryptocurrencies

Coming soon. Since its introduction in , Bitcoin has been widely promoted as a digital currency that will revolutionize everything from online commerce to the nation-state. Yet supporters of Bitcoin and its blockchain technology subscribe to a form of cyberlibertarianism that depends to a surprising extent on far-right political thought. Golumbia, in his small but important way, is helping wake us to the falsity of our perceived neutrality. The Politics of Bitcoin exposes how much of the economic and political thought on which this cryptocurrency is based emerges from ideas that travel the gamut, from Milton Friedman, F. Hayek, and Ludwig von Mises to Federal Reserve conspiracy theorists. Forerunners: Ideas First is a thought-in-process series of breakthrough digital publications. Written between fresh ideas and finished books, Forerunners draws on scholarly work initiated in notable blogs, social media, conference plenaries, journal articles, and the synergy of academic exchange.


Why the cringey Matt Damon crypto ad is no laughing matter

crypto critics

Hedge funds are trading Bitcoin, which has big-name banks starting to offer them services around it. PayPal lets users buy crypto on its app, while Twitter helps people show appreciation for tweets by tipping their creators with Bitcoin. And in the latest milestone for the industry, an easy-to-trade fund tied to Bitcoin began trading on Tuesday. Investors can buy the exchange-traded fund from ProShares through an old-school brokerage account — without having to learn what a hot or cold wallet is.

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Money has never felt more fake

But the mania for NFTs shows how on-the-money the movie is. The movie has been widely watched but has had a pasting from critics. Those complaints about crudity and OTT-ness rang a bell. It just so happens that a distinctly over-the-top satire published in attracted comparable reactions. For the nub of the proposal was that that the impoverished Irish might ease their economic troubles by selling their children as food to rich gentlemen and ladies. You get the drift.


Love them or hate them: Cryptocurrencies are here to stay

NFTs, or non-fungible tokens, have taken the celebrity world by storm as stars flock to cash in on the frenzied digital gold rush. And there is serious money to be made. Only real-world works by two other living artists — David Hockney and Jeff Koons — have sold for more. So how did assets that you can only see on a screen become the most hyped investment on the planet? They are stored on a blockchain, or digital ledger. Celebs and sports stars are already desperate to get a piece of the action, with NFTs seen as a way they can control and monetise their brand.

A cryptocurrency-related company providing insights and trading signals for Bitcoin and other alternate coin, or altcoins.

The Politics of Bitcoin

We're the Crypto Critics, seasoned veterans and your own personal experts in the cryptocurrency industry. What is Risk Management? You may even think you have a good grasp of the concept and attempt to apply it to your trading strategy.


British crypto critics push for a crackdown on the crypto industry

Bitcoin, the first cryptocurrency, has a problem: It uses ghastly quantities of electricity and thus generates as much carbon emissions as a medium-sized country. This is by design. A new cryptocurrency, Chia, avoids this problem—in favor of creating huge amounts of a different kind of waste. Bitcoin was meant to be decentralized so as to stay out of any central control.

One of our Berlin-based Meetups was focused on Blockchain recently you can watch the replay of the Live Stream here.

The technology behind cryptocurrencies has come under savage criticism from several high-profile tech bloggers in recent weeks — and investors are sitting up and taking notice. Swiss bank UBS highlighted a blog post by Moxie Marlinspike, the creator of encrypted-messaging app Signal, in a note to clients last week. It also flagged recent critical comments from other well-known tech experts, as it considered the case for a sharp fall in crypto prices. Marlinspike argued that the crypto world is in fact far from decentralized and secure, despite what its supporters say. Instead, hugely powerful entities — such as NFT marketplace OpenSea — dominate access to the crypto-sphere, he said. Marlinspike took aim at the idea of decentralized crypto technology itself, saying people don't want to run their own servers, and that it's too difficult to upgrade. He said many supposed crypto fans don't really care about decentralization, they're simply chasing after money in what he called a "gold rush".

The company acknowledges that crypto platforms have an obligation to protect users and to implement processes to prevent financial crimes, along with the responsibility to work with regulators and policymakers to set standards to keep users safe. The call for regulation might seem strange for an industry whose popularity exploded in some part precisely because it sought to operate outside the heavy hand of governments and other authorities. It may also help draw in people who are still hesitant to get into crypto.


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