Mt. Gox As a Lesson in a New Kind of Inflation
Chris Odom of the Swiss firm Monetas recently wrote an article in the Montes blog about the rise of a new kind of inflation that has to be dealt with, and he used the case of Mt. Gox and what happened there as an example. Read also: Japanese Police Suspect 99% of Mt. Gox Bitcoins Missing Due to Fraud, Not Transaction Malleability Hack. There were strong indications in the Willy report several months ago that the bots that increased the price of Bitcoin using money that did not exist were owned by someone at Mt. Gox itself. In the article, Odom insinuates that if this were the case, the....
Related News
Inflation is one of those read-the-small-print kind of taxes that people don’t often think about even though it can have a major impact on their finances and, thereby, on their lives. Rising long-term inflation is more insidious than you might think because it can steadily and most assuredly decrease the value of your earnings/savings – especially, if your taxes aren’t indexed to compensate you for the cost of inflation. Inflation has always been the bane of many businesses and individuals alike. One thing is clear: something needs to be done. If cryptocurrency, perhaps Bitcoin, was....
Will 2015 be the year of the Decentralized Bitcoin exchange? 2014 and the very beginning of 2015 has seen major problems for two mighty Bitcoin exchanges: Bitstamp and Mt. Gox. Untold numbers of holders lost in excess of $500 million between the two failures, both of which appear to have been initiated by internal enemies to the exchange with nothing but greed for a motive. Also read: Mt. Gox As a Lesson in a New Kind of Inflation. Removing the Element of Trust from Bitcoin Exchanges. Daniel Larimer, one of the founders of BitShares, believes that decentralized exchanges using the....
Bitcoin, Ethereum, Dogecoin, and other crypto assets are making headlines all across mainstream finance for making people rich left and right. But as abundant as success stories are these days, there’s also a growing number of horror stories where people end up with misfortune instead. Here’s a sad and painful lesson where a teacher learned […]
Inflation has continued to make the price of goods and services in America rise as the U.S. dollar’s purchasing power is not what it used to be. Meanwhile, the Obama administration’s former economic advisor, Larry Summers, recently told the press that “We’re going to see inflation of a kind we haven’t seen in 30 years.” Despite the gloomy forecasts, the White House doesn’t believe these predictions and U.S. Treasury secretary Janet Yellen is blaming inflation on the Covid pandemic.
Former Economic Advisor for Obama Predicts Red Hot....
Making payments with a credit card is very convenient, as this method of value transfer is accepted both online and in-store all over the world. But at the same time, so many different third party players are involved in the processing of credit cards, leaving customers exposed to financial information being stolen. Amex users have received a letter from the card issuer informing them about a potential hack recently. Bitcoin users could take note from this lesson, though, as there is no need to trust third parties with digital currency either.