Bitcoin, Debt And Elasticity: A Rebuttal To Michael Green
In the same way that a year passes through a series of seasons, so too does Bitcoin appear to follow a seasonal trajectory during each halving cycle. As we enter Bitcoin Spring, price discovery and growth within this industry will begin to accelerate as Bitcoin begins to draw more interest from people outside of the community. However, growth within the industry is not the only growth to be had. In the same way that the flowers of springtime must contend with weeds, so too must Bitcoiners contend with new rounds of FUD. The latest individual of merit to publicly weigh in on....
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Michael Egorov, founder of Curve Finance, has settled his loan on the Aave Protocol and cut his total debt to $42.7 million. Egorov’s DeFi debt profile was revealed on August 1 following a Curve Finance hack that extracted $73.5 million worth of assets across various liquidity pools. As expected, the exploit caused a significant decline in the price of CRV, with the Curve governance token losing over 24% of its value in a single day, based on data from CoinMarketCap. This fall in CRV’s market price brought much attention to Egorov’s multiple debt positions. According to a report by....
Presidential candidate Donald Trump claimed that the US is incapable of defaulting on its debt because of the Federal Reserve’s ability to “print money.” The Republican Party’s presumptive presidential nominee attempted to clarify previous statements that he could persuade America’s creditors to accept less than full payment for the national debt, which was construed by some publications to mean he intended to default. Trump insisted that he meant that the US could simply buy back debt at a discounted rate. “You know, I’m the king of debt. I understand debt probably better than anybody. I....
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of a looming consumer recession and more earnings trouble. He cited falling U.S. personal savings and record-setting revolving credit card debt despite trillions of dollars in stimulus money.
Michael Burry’s Recession Warning
Famous investor and founder of investment firm Scion Asset Management, Michael Burry, warned on Friday about a looming consumer recession and more earnings trouble ahead.
He is best known for being the first investor to foresee and profit from the....
The unfolding drama inside the Greece's debt-struck economy has been captivating and heartbreaking at the same time. It has given us - the common people - a preview of a once-wealthy country, falling prey to the 2008's Wall Street implode, and further reaching to the verge of being called a bankrupt. But considering Greece as the sole sufferer of some economic meltdown is a mistake. The country's plight can now be compared with more than 20 other nations that have reported to be going through a similar debt trap. A recent analysis by the Jubilee Debt Campaign has further brought forth the....
College education is expensive, whether you’re going for your bachelor’s degree or your master’s degree. And these days, American students are more burdened by student loan debt than ever before. While there are more affordable options, such as online schools that offer a wide array of programs, from an online MBA to an online homeland security program, taking out loans to pay for higher education has put young adults in debt before they even have a chance to start working. A Look at Some Numbers. To really understand just how burdened American students are with debt, you need to look at....