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The Welcome Crypto-Currency Crash
The ongoing crash in the Crypto-Currency Market is a breath of fresh air. I am sorry for the innocent people who are getting burned to a crisp but this crash is a necessary evil for a long list of reasons. The main benefit of this crash will be the institutional investors should be gone and simply that is the most awesome thing that could happen for the Crypto-Currency Market. A number of the institutional investors and the strip miners have a negative impact on the Crypto-Currency markets. These two factions are not in the business to benefit Crypto-Currencies but to extract the maximum amount of profit from the venture. This…
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Cryptocurrencies as a Single Pool of Wealth: Thoughts on the Purchasing Power of Decentralized Electronic Money
Author: Gennady Stolyarov II The recent meteoric rise in the dollar price of Bitcoin – from around $12 at the beginning of 2013 to several peaks above $1000 at the end – has brought widespread attention to the prospects for and future of cryptocurrencies. I have no material stake in Bitcoin (although I do accept donations), and this article will not attempt to predict whether the current price of Bitcoin signifies mostly lasting value or a bubble akin to the Dutch tulip mania of the 1630s. Instead of speculation about any particular price level, I hope here to establish a principle pertaining to the purchasing power of cryptocurrencies in general,…
