Joi Ito: Why I'm Worried About Bitcoin and the Blockchain
In a previous post, I wrote that I believe the blockchain has the potential to be as disruptive – and unlock as much opportunity and innovation – as the Internet, and that it could become a ubiquitous, interoperable, reliable, low-cost network for transactions of various kinds. But along with that enormous potential, the blockchain also faces challenges that are similar to, but in many ways very different from, what we had and continue to have with the Internet and the Open Web. I'm worried about the current situation of bitcoin and the blockchain. Partially driven by the over-investment....
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Bitcoin Core contributor Peter Todd recently discussed a variety of topics on The Crypto Show. Todd was asked if he is still worried about the possibly negative implications of a controversial hard fork induced by Bitcoin Classic or any other alternative Bitcoin client. said he is still worried about a hard fork due to some larger block size limit supporters who seem willing to “fork Bitcoin at all costs.” When Todd was first asked how he felt about his hard fork worries, he brought up the fact that some parts of the Bitcoin community seem ready to fork the blockchain no matter what. He....
Christine Lagarde, chief of the International Monetary Fund (IMF) and finance minister under former French president Nicolas Sarkozy, said this week that banks don't have much to fear from bitcoin or the blockchain. The Financial Times reported today that, while speaking at a conference in New York City, Lagarde said attendees worried that the banking industry could be altered or rendered obsolete by the blockchain should "pause for a second". "Many of you have heard about not only bitcoins but blockchains and that unbelievable technology that underlies the bitcoins of this world at the....
The Central Bank of Nigeria (CBN)’s director of monetary policy, Hassan Mahmud, has suggested that the institution is not worried about the naira’s valuation but is instead interested in “boosting dollar supply on the currency market.”
Naira Depreciation
According to a report, Mahmud’s remarks were made just a day after the local currency touched a new low of 532 naira for one dollar on the parallel market. This new parallel market exchange rate differs significantly from the CBN’s current spot exchange rate of approximately 411 naira....
The upcoming Ethereum merge will switch the network consensus system into “proof of stake.” Here’s why miners are worried about it. Ethereum Miners Made $18 Billion In 2021, More Than Bitcoin Miners As per the latest weekly report from Arcane Research, ETH mining revenues totaled $18 billion in 2021, slightly more than Bitcoin miners’ $17 […]
Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, is still worried about governments outlawing bitcoin and other cryptocurrencies. “If cryptocurrencies become successful, most governments will outlaw them, because they don’t want to lose their monopoly,” he said. Jim Rogers Still Worried About Government Banning Bitcoin Renowned investor and George Soros’ former business partner who co-founded of the Quantum Fund and Soros Fund Management, Jim Rogers, still believes that the government can ban bitcoin and other....