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Tagcryptocurrencies

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Bull figurine standing on bitcoins, concept of cryptocurrencies

Seven in 10 Institutional Investors Expect To Buy Cryptos

Mainstreaming continues, despite the detractors, with major investment players signing on

Cryptocurrencies are now estimated to be worth roughly $2 trillion and — despite pressure from regulators — demand from investors continues: In July 2021, FTX—the Antigua-based cryptocurrency derivatives exchange which offers futures, leverage tokens and OTC trading—raised $900 million from over 60 investors. This included venture capital firms Paradigm and Sequoia, hedge funds and the private equity group Thoma Bravo. It was the largest private equity deal in the crypto industry’s history, valuing the business at $18 billion—one of the largest rounds of financing for a digital assets startup. In May 2021, Block.one —the Peter Thiel, Alan Howard and Louis Bacon backed blockchain software firm—pumped $9.7 billion into a new cryptocurrency exchange subsidiary called Bullish Global. Even excluding Block.one’s capital…

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Business woman using tablet with cryptocurrency bitcoin link network concept

Will Going Mainstream Spoil the Fun for Crypto?

Crypto exchange FTX.US is, for a tidy sum, naming a Berkeley sports field, with philanthropy thrown in

At least one cryptocurrency exchange seem to be settling into the accustomed round of corporate donorship that creates name recognition with the public. FTX.US, affiliated with global crypto exchange FTX, has given Cal Athletics (University of California, Berkeley) $17.3 million for the right to call the field at field at California Memorial Stadium “FTX Field” for ten years. FTX has been creating recognition with other strategic donations as well: FTX has been on a sports and e-sports sponsorship spending spree this year. In March, the exchange secured the naming rights to the home arena of NBA team Miami Heat for a reported $135 million, while in June, the exchange paid $210 million to acquire the naming rights for e-sports organization…

Sad african american guy holding golden bitcoin

June Crypto Mayhem: A Tough Month for Cryptocurrencies

What has caused the dramatic drops in Bitcoin, Dogecoin, Etherium, and NFT values?

The month of June has been tough on the world of cryptocurrencies, with the past week being especially harsh. It is difficult to pin down a single, specific cause behind the pullback, as a variety of new and nagging concerns about the viability of cryptocurrencies continue to mount. As for the price action, Bitcoin dropped like a rock down below $30k this past week, less than half of what its high in the last year has been. The meme cryptocurrency Dogecoin lost over 60% of its value, down to $0.24 from a high of $0.72 earlier this year. Etherium has been cut in half, as have many other cryptocurrencies. The NFT market, whose enthusiasm has ridden on the back of…

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Crypto Currency Digital Market Monitor

Will Popularity Spell Doom for Bitcoin?

How is that possible? Well, Bitcoin and other cryptocurrencies have a hidden weakness…

Cryptocurrencies, from Ethereum to Bitcoin to Dogecoin, seem to be all the rage these days. Altcoins (i.e., lesser-known cryptocurrencies) have become increasingly mainstream. The increasing fracturing and pluralism in the cryptocurrency space has meant that few people are directly trading with any particular currency. Most users go through trading and wallet platforms where the platform —not their own computers—hosts the cryptocurrency. Additionally, transactions are increasingly processed via third parties as well, not directly on the cryptocurrency platform. This separation between the user and the direct cryptocurrency platform has enabled a new option: a payment gateway for a website that collects payments in a number of different cryptocurrencies using a single set of tools. PayPal, one of the top gateways, recently…

Businessman hand holding tablet and Yuan currency sign on digital map backgroung.Chinese Yuan digital currency and circuit background.Technology digital Financial and china cryptocurrency concept.
Businessman hand holding tablet and Yuan currency sign on digital map backgroung.Chinese Yuan digital currency and circuit background.Technology digital Financial and china cryptocurrency concept.

Why China Is Making a Bold Gamble With Digital Currency

“Controllable anonymity” means that all transactions between individuals are visible to the People’s Bank and trackable by the Chinese government

Last week, China announced the national rollout of the electronic yuan, a plan in the works since 2014. The e-CNY* or Digital Currency Electronics Payment (DCEP) was piloted last year in four major Chinese cities: The digital yuan resides in cyberspace, available on the owner’s mobile phone — or on a card for the less tech-savvy — and spending it doesn’t strictly require an online connection. It appears on a screen with a silhouette of Mao Zedong, looking just like the paper money. In tests in recent months, more than 100,000 people in China have downloaded a mobile-phone app from the central bank enabling them to spend small government handouts of digital cash with merchants, including Chinese outlets of Starbucks…

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denim jean production

In China, Forced Uyghur Labor Produces Many Fashionable Products

Industries such as fashion and solar panels rely heavily on supplies from detention centers and concentration camps in China

China has been called the “world’s factory.” American companies like Apple, may assemble their tech in the U.S., but the parts are made elsewhere, including Xinjiang, China (Xinjiang Uyghur Autonomous Region). Industries such as fashion and solar panels also rely heavily on Xinjiang for their supply lines. Reports from the Australian Strategic Policy Institute (ASPI) and the Center for Strategic and International Studies in the U.S., as well as testimonials from Uyghurs, show that many such factories in Xinjiang involve the forced labor of Uyghurs in what are called “vocational training schools.” These vocational training schools are more appropriately described as detention centers. In many cases, they are essentially concentration camps. Many Uyghurs are also sent from Xinjiang to other…

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fast food

What If Government Knows You Ate a Big Mac — and Doesn’t Approve?

One spur to the development of cryptocurrencies is a desire for privacy. And a growing number of citizens of societies dominated by Big Tech feel the need for privacy

That title question is not a crazy notion. It’s already happening in mostly cashless China. The Constitution and the law may not be the barrier that many suppose in America if your personal choices make it possible. We need to talk about the unpublicized implications of a cashless society. Bernard Fickser, whose work we profiled yesterday, thinks that surveillance creep is one of the factors driving the growing interest in cryptocurrencies like Bitcoin and Ethereum. Yesterday we talked about the increasing popularity of Modern Monetary Theory (MMT) — government should just print money to satisfy social demands and then raise taxes to pay for the choices made. A triumph of MMT would intensify the competition between government-issued currencies and cryptocurrencies…

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Concept idea of FED, federal reserve system is the central banking system of the united states of america and change interest rates. Percentage icon and arrow symbol on wooden cube

Central Banks vs. Cryptocurrencies: Why the Growing Tension?

Modern Monetary Theory (MMT), which is gaining ground, holds that government should just print as much money as it feels it needs and then raise taxes to cover shortfalls

On the way to explaining how a cryptocurrency system might work, financial analyst Bernard Fickser asks readers to think about the crucial difference between money, as held by a private bank — we’ll call it Merchant Navy Bank — and a central bank operated by a government, say the U.S. Federal Reserve System (the Fed). In his short online book, The Creation of Money, Fickser distinguishes between private banks and central government banks. Private banks start with money that already exists. The money that Merchant Navy Bank lends for mortgages, for example, is contributed by depositors who agree to tie up their money for several years in savings certificates. In return, they get a higher than average rate of interest.…

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ethereum Crypto currency was found in the treasure box

Ethereum Is a Better Long Run Bet Than Bitcoin, Researchers Say

Cryptocurrencies in general are starting to be seen as part of a balanced portfolio

In an article featuring recent science research into the cryptocurrency market, Ross Pomeroy offers some researchers’ perspective on why Ethereum tends to be more stable than Bitcoin: Ethereum might be a better long-term investment than Bitcoin. The cryptocurrency Ethereum ranks second to Bitcoin in terms of popularity, yet two studies have shown that tends to be more stable and a better “safe-haven” investment during difficult economic times. As a team of researchers from Singapore wrote in the journal PLoS ONE, “Although both Bitcoin and Ethereum are digital tokens that serve as decentralised currency based on blockchain technology, there are crucial differences between them. While Bitcoin has positioned itself as an alternative monetary system in the financial market, Ethereum has mostly…

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Crypto currency background with various of shiny silver and golden physical cryptocurrencies symbol coins, Bitcoin, Ethereum, Litecoin, zcash, ripple

What If Many People Ditched Government Currencies for Bitcoin?

Are cryptocurrencies our best bet for a fair global currency system?

Picture a world racked by economic issues like coronavirus, where people begin ditching government (fiat) currencies for Bitcoin. Small changes are are underway: The chief economist did not mention that a growing number of jurisdictions are already embracing bitcoin for tax payments. For example, the canton of Zug in Switzerland announced that it will start accepting bitcoin for tax payments this year. Several other local governments in Switzerland have made a similar announcement, such as Zermatt. Recently, the mayor of Miami said that he is working on allowing payments for city services in bitcoin. Furthermore, a growing number of stores are accepting bitcoin payments. Payments giant Paypal, for example, is planning to allow people to use cryptocurrency to pay for…

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Colorful quantum world fractal

“Spooky Action at a Distance” Makes Sense—in the Quantum World

Einstein never liked quantum mechanics but each transistor in your cell phone is a quantum device

In last week’s podcast, “Enrique Blair on quantum computing,” Walter Bradley Center director Robert J. Marks talks with fellow computer engineer Enrique Blair about why quantum mechanics is so strange. The discussion turned to why Albert Einstein, a brilliant but orderly mathematical thinker, did not really like quantum mechanics at all and what we should learn from that: https://episodes.castos.com/mindmatters/Mind-Matters-110-Enrique-Blair.mp3 The discussion of Einstein and “spooky action at a distance” (his way of describing quantum particles’ behavior) starts at approximately 27:45. The Show Notes and transcript follow. Excerpts from the transcript: Robert J. Marks: Albert Einstein didn’t like quantum mechanics or certain aspects of quantum mechanics. Dd he die thinking that quantum mechanics was a fluke? Enrique Blair (pictured): That’s an…

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bitcoin wallet and currency

George Gilder on Blockchain and Carbon Computing

George Gilder and Robert J. Marks discuss blockchain, Bitcoin, quantum and carbon computing, and George Gilder’s new book Gaming AI: Why AI Can’t Think but Can Transform Jobs (which you can get for free here). Show Notes 00:26 | Introducing George Gilder 01:00 | Blockchain 07:57 | Facial recognition 10:30 | Bitcoin 15:04 | Quantum computing 18:16 | Carbon computing…

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gold-colored Bitcoin coin on ground

And Now… Crypto-COVID!

How the COVID-19 pandemic is creating “social distance” for crypto-currencies

While the equity markets have garnered a lot of attention in the COVID-19 pandemic, cryptocurrencies have been largely ignored by the media. This is partly because interest in cryptocurrency in general has waned over the last two years. But the pandemic has shed some light on their market mechanics.

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Bitcoin Is a Classic Bubble Investment

In large data sets, correlations are easy to find. Useful relationships are more elusive

My main interest in cryptocurrencies like bitcoin is in whether they are sound investments. I’m a value investor—I even wrote a book about that—and the short answer is no.

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COSM-3188

Chair of Forbes Media Says Money Is About Trust

Experts forecast the future of money in general at COSM

Facebook wants to start minting its own money. Amazon is said to be thinking about it. Bitcoin has many enthusiasts. But what determines the value of money in a digital age?

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都市と技術

Will Money Be “Real” in an Information Society?

Now that Facebook is proposing Libra, a cryptocurrency, this might be a good time to ask

Many of us know cryptocurrencies only from passing headline news. Yet thoughtful people argue that such currencies will help shape an information society. Why?

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Facebook Building Cryptocurrency-Based Payments System - 3D Rendering

Facebook “Likes” Cryptocurrency

We asked Jonathan Bartlett, what the new coin, Libra, means for Facebook? For crypto?

Avoiding having to judge between currencies "solves a political problem for Facebook, but I don't see that it solves problems for anyone else," Bartlett says.

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George Gilder speaking at the book launch of Life after Google

George Gilder: Why Student Debt Should Simply Be Wiped Out

Universities are preparing students to resent, not join, the new decentralized economy

“The colleges that took this money and enriched themselves, and hired hundreds more bureaucrats should have to give the money back.”

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Cryptic characters in neon, a password or curse word

Bitcoin: Is Lack of Trust the Biggest Security Threat?

It’s almost a parable: Everyone can see, no one can access, the millions trapped in the ether by a password known only to a dead man

Is this the future of currency? Seems like the Dark Ages to me. Bitcoin is a clever idea, but it is perhaps too clever for its own good.

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Facebook is said to be exploring minting its own cryptocurrency

If Facebook wants to mint private currency, can it still be the judge of morals and manners among users?

A software engineer and tech blogger sees ideas sprout up all over, including both the absurd and the brilliant, as traditional companies try to incorporate cryptocurrencies into their business model.

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