The Bitcoin perspective: When is a crisis not a crisis?
Bankruptcy Protection. So, Mt. Gox filed for bankruptcy protection in Tokyo on Friday. The detailsemerging today of the magnitude of the losses are frankly, staggering. Karpeles may have overseen the loss of up to half a billion dollars worth of Bitcoins. The first lawsuit has already been lodged by Gregory Greene in the US District Court in Chicago. Mr. Greene had approximately $25,000 worth of Bitcoin. Greene's money is gone; everyone's money is gone. Mt. Gox has lost roughly 750,000 of client's Bitcoins as well as 100,000 of its own, almost 7% of total circulation. Karpeles apologized....
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Back in January of 2016, a warning was issued how the world should brace for the impact of a new financial crisis. Given the recent financial crisis, the question becomes whether or not there are any signs of recovery, or if things are worse for the wear. Depending on which country one resides in, there might be a slight improvement although a large part of the world is still working towards stabilization. If a new financial crisis were to take place tomorrow, things could get kind of interesting for Bitcoin to say the least. Despite what financial experts may want the general public to....
The global financial ecosystem has been very brittle even before the previous financial crisis hit. While some countries are showing signs of recovery,the Brexit will force projections to be recalculated. Although people may want to deny the truth, we are on the brink of another economic crisis. A new global crisis appears to be imminent, and there is no solution to avoid the inevitable. Investors and individuals should start looking for alternative financial solutions sooner rather than later. Returning to the gold standard is being considered as well, albeit it is doubtful this will....
Following the UST depeg, the crypto market started to crumble: crypto institutions crashed, exchanges suspended withdrawals, and lending protocols suffered from liquidation and runs, presenting a huge liquidity crisis. The domino effect has also fully revealed a DeFi crisis. In 2020, everyone had been excited for the DeFi Summer, and the huge popularity of liquidity […]
In spite of the timing, bitcoin wasn't created as a result of the 2008 crisis – and this misunderstanding matters.
Bankymoon, a South African-based Bitcoin solutions company, is changing how people pay for utilities, making them more affordable. Bitcoinist spoke with Lorien Gamaroff, founder and CEO of Bankymoon, to find out more about the utility crisis in Africa and what Bankymoon is doing to solve it. Lorien, a South Africa native, shared with us about the crisis and how it is impacting Africans and the education system. Today, Africa is in a state of crisis due to its current unsustainable utility metering system. This metering system is what’s referred to as “post-paid,” meaning consumers pay....