Bitcoin News
By James Thorp
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David Da Silva Rosa, Aerospace Engineer Mining Bitcoin Has his say: “Bitcoin energy usage is not a waste.
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The assertion that criminals use crypto has been debunked a long time ago. Not to mention that the financial crisis is actually a crisis in trust: the fiat system requires…
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Every time the market crashes, a financial crisis is created. Central banks then print huge amounts of money so governments can hand out money to their cronies in the form of…
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It's intellectually dishonest to blame Bitcoin and crypto assets for the financial instability caused by a crash.
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The crashes are actually a good sign: it punishes those without conviction and rewards those that continue to buy at low prices.
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Bitcoin’s volatility arises from its recent inception. The majority of people don't understand its decentralized nature and sound principles.
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Regarding the so-called "shady trading", the overwhelming majority of trading happens on regulated exchanges where users have to identify themselves.
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Yet, not everyone has the same understanding of its value. That's why anyone can express their valuation on the free and open market.
9 / 14
Bitcoin was invented by Satoshi Nakamoto and developed by hundreds of volunteers working on the open-source code. Its valuation is uncertain because humans are trying to value it.
10 / 14
The Director of the Dutch Bureau for Economic Analysis concludes that a total ban on production, trading and holding cryptocurrency is needed.
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He writes how fiat money performs well as SoV, claiming there inflation has been low for decades. Electronic payments make it a good MoE. He thinks this will improve with CBDCs.
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Based on his analysis, any cryptocurrency is not suited to fulfill any of the 3 functions of money. Their valuation is based on fools believing a narrative.
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He then goes on to describe other countries banning crypto to prevent harm caused by fraud, criminal use, financial instability and energy waste with mining.
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The Netherlands is behind on those countries, according to him. Soft regulations legitimize cryptocurrency and recent developments show quick action is required.
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