Bitcoin
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Useful article this. So basically the more Bitcoin is regarded as a speculative asset the less likely is it to live up to its name as a cryptocurrency. As an asset its price has gone up by leaps and bounds but at the end of the day we all know what happens to speculative bubbles – they burst! A lot of people are going to end up having their fingers burnt
https://marker.medium.com/the-bitcoin-dream-is-dead-8b621d2d7dbd
In the days when gold and silver coins circulated as the currency this was an obvious ways of resources. The anti-state libertarians who created Bitcoin as an electronic equivalent of anonymous cash have found a way of recreating this waste. Lots of electricity is required to “mine” ( their term) Bitcoin and it has now been calculated that so much is wasted for this purpose that it amounts to as much as is consumed in Argentina:
Bitcoin soared through the key $50,000 level as the growing acceptance of the world’s biggest cryptocurrency among large banks and investment funds continued to draw in mainstream investors.
I was reminded of this
No expert but this development in El Salvador that approved bitcoin as legal tender may be of interest to others
The fever is not in the blanket. Don’t treat the symptoms, treat the disease, and the disease is capitalism and it is incurable. Money in any form is capital, and it is a product of the economic exploitation of the working class. We do not need money, we need a moneyless society, right wingers and left-wingers are wings of the same bird
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