The Arrogance of Dollars
One sentence perfectly summarizes the problems with modern finance, and you can find it in your pocket. Open up your wallet and take out a US bill of any denomination. On its front, you'll find these words:"THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE". This simple sentence encapsulates Old-World finance, where central bankers make....
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While the hyperinflationary episode technically peaked in Zimbabwe in 2008, its national fiat currency has finally reached its painful end. At the current rate, one US dollar will buy you 35 quadrillion Zimbabwean dollars - toilet paper is worth more. Zimbabwe was the first country in the 21st century to suffer hyperinflation, and it has never escaped. Bad governance, led by strongman dictator Robert Mugabe, and almost no economic activity and production doomed the country to one of the worst economies on planet earth. What Does This Look Like? “Bank accounts with balances of up to 175....
Bitstamp's website and service came under DDoS attack on October 15, 2012, completely disabling the services as of around 11:00 PM GMT. The attackers sent the following note to Nejc Kodrič, the exchanges' founder and CEO: Dear Bitstamp's friends, I'm DarkRobinHood, me and my friends we live in the Internet environments. Like my namesake used me to give equity in this world, I don't like to steal, perhaps I prefer to invite people like you that works in the financial and economic markets, in general on the freedom and democracy's Bitcoin, coming to us. The increased taxes, your arrogance....
Much has changed at Circle Internet Financial in the past week. The company was granted the first BitLicense from the state of New York, and since made some changes to the service: Today we took another step toward realizing that goal. Now in the United States, you can send, receive, and hold US dollars in addition to using bitcoin for payments within the Circle app. You can enjoy the benefits of Bitcoin without ever holding or buying bitcoin yourself, and without being exposed to bitcoin price volatility. Even if you prefer to hold US dollars in your Circle account, you gain security,....
Here I will reveal the top 5 reasons why bitcoins beat dollars, both now, and in the future. For the sake of brevity, I limited this list to the top 5, but may not be limited to these five alone. The dollar certainly has it's own inherent advantages, but it will prove fleeting in nature in the coming years, whereas bitcoin's advantages are built in to the technology, to stand the test of time. Number 1 - Appreciation Beats Inflation. Inflation, here, means that the amount of U. S. dollars, the "Global Reserve Currency," in circulation continues to increase. And it has, consistently, since....