The Hubris Of FTX And The Humility Of Bitcoin
The lure of leverage has created yet another major collapse within the wider cryptocurrency industry.This is an opinion editorial by Josef Tětek, the Trezor brand ambassador for SatoshiLabs.So FTX is rekt after all. As we’ve witnessed throughout the year, even the “reputable” industry actors are basically just high rollers who got lucky for some time — until reality catches up with them. Bitcoin is an unforgiving phenomenon. The sheer reality of its 21 million limit and the intrinsic inability to print any more should put everyone’s ego on mute; but....
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After 10 long days, Mike Novogratz broke his silence on the Terra/ Luna situation. Considering that he was one of the protocol’s main proponents and even got a Luna tattoo, the community’s interest in Novogratz’s opinion is justified. “My tattoo will be a constant reminder that venture investing requires humility,” Galaxy Digital’s CEO said in […]
“Not going away” — Mike Novogratz says that despite being permanently humbled by the recent Terra collapse, the crypto industry will continue to grow. Mike Novogratz, the billionaire founder of crypto asset management firm Galaxy Digital, has told his followers that his LUNA-inspired tattoo will serve as a reminder to remain humble in the world of venture capital investing. Following the fallout of the recent LUNA / UST meltdown, Novogratz penned an open letter on Wednesday, telling his followers that: “My tattoo will be a constant reminder that venture investing requires humility.”It....
Inconvenient as it may be for some, blockchain is booming. Despite challenges in other areas, blockchain's use as a value routing protocol is developing at blistering speeds, and I would argue, with amazing results. If you know where to look, you can see labor specializing, banking services being extended and information services being globalized. So, why does everyone seem to be talking about the technology's potential tomorrow? It turns out the real 'disruption' is not as uncontroversial or straightforward as some have promised. For speculators that arrived in 2016 looking to strike it....
You cannot build a house unless you have a strong foundation. After years of mockery and ignorance about Bitcoin and anything related, 2015 has proven to be a lengthy procession of plaudits for Bitcoin’s foundation, the ledger know as the blockchain. Being a former banker myself, I marvel at the double-talk lobbied by mainstream economic leaders like....