Crypto now available on Paypal

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Tony Whitley
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This week's news: Etherium has moved from Proof of Work to Proof of Stake

TL;DR: energy consumption cut "by more than 99.9 per cent" as it no longer requires processors thrashing away doing meaningless calculations to mine coins (as Bitcoin will continue to do),

Tony Whitley
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FTX: Crypto giant collapses into bankruptcy

In the [Chapter 11] filing, FTX estimated that it had between $10bn and $50bn in assets and liabilities.

Did they look down the back of the sofa? It doesn't sound like they had close control of the money!

TC
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I was told a story about cryptocurrency as a child about 65 years ago. 

Hans Christian Andersen

"The Emperor's New Clothes" 

TC

aerobod
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CryptoCurrency - the juvenile delinquent of the otherwise respectable BlockChain Family! (although NFT is turning a bit funny these days, too).

James

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Stephen

Democratic dissent is not disloyalty, it is a positive civic duty

DougBaker
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A good quote from the article above



“After 14 years, it is still a solution in search of a problem. It’s not building a new financial system. It’s not building a new internet. It’s not an asset uncorrelated with the market. It’s not a hedge against inflation. It is a vehicle for pure, naked speculation detached from anything in the economy. It’s a casino that’s wrapped in all of these lies. When you tear back those lies, what’s left looks like a net negative for the world.”

1.6K Roadsport SV

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There is a point to regulation, your money in their hands.

Stinging comments.

https://www.theguardian.com/technology/2022/nov/17/ftx-enron-crypto-collapse-john-ray-unprecedented

 

Stephen

Democratic dissent is not disloyalty, it is a positive civic duty