Tag Archives | Bitcoin

Cryptocurrencies must die

Originally published: Peoples Democracy on June 5, 2022 by Bappa Sinha (more by Peoples Democracy) | (Posted Jun 06, 2022)

Bitcoin had gone from around USD 4,000 to USD 64,000, a sixteen fold increase, in 20 months. Other cryptocurrencies had even more ridiculous price increases in the same time period – Ethereum had a 50 fold increase, Solana 500 times, and LUNA had a 1,000 times increase. Now, these cryptocurrencies are crashing down.
Cryptocurrency: a new and dangerous climate disruptor

Originally published: System Change Not Climate Change on October 12, 2021 by Maura Stephens and Karen Edelstein (more by System Change Not Climate Change) | (Posted Oct 14, 2021)

The get-rich-quick scheme, banned in China and elsewhere, is invading U.S. communities unchecked, posing as an “equalizing, democratizing” currency. It’s not.
After inner Mongolia Bitcoin ban, Sichuan mulls mining shutdown

Originally published: Sixth Tone on May 28, 2021 (more by Sixth Tone) |

Will the province, rich in hydropower, change its welcoming stance toward cryptocurrencies?
Crypto crackdown: only the beginning?

Originally published: Naked Capitalism on May 24, 2021 (more by Naked Capitalism)

The cost and time involved in validating Bitcoin transactions makes it unusable in retail transactions. So they will always be foreign currencies, where you have to trade in and out of them into a real world currency.
Cryptocrap

Originally published: Economics of Imperialism on April 6, 2021 (more by Economics of Imperialism) |

Bitcoin’s growth from just being a tech curiosity was driven by popular discontent with banks and banking systems, mainly in the U.S. after 2008.
Should the left care about blockchain technology?

Originally published: Red Pepper Magazine on November 30, 2020 by Thomas Redshaw (more by Red Pepper Magazine) | (Posted Dec 07, 2020)

Despite its utopian promises of digital democracy, Thomas Redshaw argues socialists should be wary of embracing blockchain technology.