An Advantage Of Bitcoin – Escaping Government Mismanagement Of Money

This is of course the great promise of Bitcoin and crypto, that by not using government issued money one can escape the manipulations and mistakes of government issued money. That is though an argument for private money, or even competing currencies, not one necessarily for this specific technological solution. On the other hand, government might lose the ability to manipulate money and thus lose monetary policy:

Monetary policy in a world of cryptocurrencies
Pierpaolo Benigno 26 April 2019

Cryptocurrencies have attracted the attention of consumers, policymakers and the media.…

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They Would, Wouldn’t They? China Considering Bitcoin Mining Ban

China is considering a ban on bitcoin mining within the country. Quite how they’ll ban anyone connecting up a mining rig is, well, that’s for them to work out. The thing is, they would, wouldn’t they? For two entirely different reasons – and then there’s the third they actually mention. Bitcoin has been used as a rat run out of yuan, which isn’t going to please the government as they’ve been trying to keep that value nice and high.…

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Free Money: the Neoliberal Case for Bitcoin

Hello, I am James Bayley, the founder of CRYPTOSTAR.MONEY and an expert on cryptocurrencies and blockchain technologies. I have taken up Tim’s kind offer to write for the Continental Telegraph and I hope that my weekly column will be of interest to you. Please post your questions and comments below.

The Big Questions

The first thing that anyone asks about Bitcoin is “will it go up?”.


The second thing they ask is – is it all a scam?…

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Will Central Banks Ever Adopt Bitcoin?

That there might be an interesting use or two of the blockchain part of Bitcoin technology is true. The jury’s still out on it and the market will, in the fullness of time, tell us. But should central banks be getting in on the act? Issuing a digital currency of their own perhaps? Hmm, well, depends what you’re after really:

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Central bank digital currencies and private banks
David Andolfatto 17 March 2019

The idea of a central bank digital currency has prompted a mixed reaction among economists.…

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QuadrigaCX’s Missing Funds Are Missing – Yet Another Bitcoin Scam

One thing of true and interesting value that Bitcoin has afforded us all is the ability to watch every financial and monetary scam known to human history be repeated at warp speed. The Canadian exchange, Quadriga CX, is simply another building block in this wall of experience. Here the claim is that the funds of the bankrupt company are missing – when, in fact, they’re missing. The distinction being that we’ve been told that the CEO died taking the combination to the safe with him.…

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JP Morgan’s Crypto – Just The Million Pound Note Again

There’s much excitement at the idea that JP Morgan has just become the first bank to launch a cryptocurrency – which isn’t quite what they’re doing. In reality they’re launching a new internal accounting method. Sure, we can say that that’s all money is anyway, just a measurement of who gets to command resources, but that’s being a bit more reductionist than most of us are when discussing the subject of loot.

JP Morgan’s version of Bitcoin won’t circulate outside the bank, you and I can’t get our hands on some, it’s a purely internal matter.…

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Ghana’s Global Coin Community Help – Not Even A Ponzi Like Menzgold

That there’s a certain amount of greed out here among us humans is obvious enough. But we do normally have to be lured a little bit in order to give up our wealth rather than just handing it over to the fraudsters. One useful technique is to operate as a Ponzi scheme, like Menzgold. But there are simpler ways as Global Coin Community Help has just shown. Tell everyone you’re in crypto and people will fall over themselves to give you their money.…

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The SEC’s Right, ICOs Are Unregistered Securities And Compensation Is Due

There really shouldn’t be any surprise with this ruling from the Security and Exchange Commission over the Paragon and AirFox initial coin offerings. They were unregistered securities, ones that should have been registered. Thus the usual panoply of rules comes into effect. A fine, obviously enough, but also restitution of funds. Which is a significant problem given that the overall market has fallen since they were launched.

The SEC has been telling everyone what the rules were for some time now.…

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The Electricity Costs Of Mining Bitcoin, Crypto And Other Metals – Try To Get This Right Laddies

A report out telling us that mining for Bitcoin – and other cryptocurrencies – costs rather more than going out and mining for real metals that might be of value. Something that might well be true but isn’t actually of any great value or interest in itself. For we don’t use the mining of metals to create our money for us. The comparison between cryptomining and other forms of currency should be the energy or other costs of using currency.…

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Ripple Tries To Pull Up The Crypto Drawbridge Behind It

Ripple’s indulging itself in an entirely common business tactic here – insisting that regulation be used to protect it from competition. There’s an all too entirely uncommon correct response to such too – go boil your head. For it is through this very competition unprotected by regulatory structures which makes us all in this modern world so stinking rich:

Ripple, the world’s third largest digital currency, has urged British regulators to follow in the footsteps of Japan and implement new rules to end the “Wild West” days of the cryptocurrency market.

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