Three Economists of the FUDpocalypse | Hodler's Digest



the crypto market was in a decline this week Bitcoin is teetering below 6,200 vos suffered the worst loss following nearly 7 percent within 24 hours also Elon Musk is apparently impressed by criminals the three economists of the flood pocalypse have arrived and it turns out that Google co-founder spends quality time with his son in a side hustle mining aetherium here's your weekly hot euler's digest we begin this week with a special report on Russia day a grand jury in the District of Columbia returned an indictment presented by the special counsels office the indictment charges 12 Russian military officers by name for conspiring to interfere with the 2016 presidential election the US Department of Justice indicted 12 Russian nationals for federal crimes funded by crypto the Russian government's main intelligence Directorate allegedly used Bitcoin to fund hacking into the computer networks associated with the Democratic Party Hillary Clinton and US elections related state boards Russian officials allegedly obtained thousands of stolen emails and documents that they released through the domain DC leaks calm while promoting themselves as American activists the Department of Justice reports that the indictment does not claim that the alleged criminal activities altered the vote count or change the outcome of the 2016 elections the indictment includes the claim that more than 95 thousand dollars was laundered through crypto currencies to fund the hacking and spear phishing attacks these attacks target specific individuals or organizations with the intention of stealing data for malicious purposes Hillary Clinton was hacked that very same day the 27th of July 2016 Russia if you're listening I hope you're able to find the 30,000 emails that are missing I think you will probably be rewarded mightily by our press Russia woes continue a Greek Court agreed on Friday to extradite Alexander to France and now over tamale new research suggests that crypto will become a mainstream means of payment a new study conducted by Imperial College in London in training platform eToro his found that cryptocurrencies could really go mainstream crypt out the study claims already meets at least one of the three main criteria for money acting as a store of value however it has yet to meet the remaining two criteria acting as a medium of exchange and serving as a unit of account one battle might be one but not the war in order to become money cryptocurrency needs to solve six main challenges scalability usability regulation volatility incentives and privacy the study is cautiously optimistic it outlines that crypto is the natural next step for money and can become a mainstream payment instrument within the decade it reminds readers however that the very first email was sent way back in 1971 so don't expect mainstream adoption overnight this study flies in the face of FUD Meister's everywhere like the head of the Bank for International Settlements who's said last week that crypto currency cannot assume the functions of money rome wasn't built in a day but neither did it fall in a day it took about a hundred and nine thousand five hundred days so ten years seems pretty fast for banks to do the same in Silicon Valley even family time is tech related Google co-founder Sergey rocking the kaftan like it's no big deal Brin and his son have been mining atheria a year or two ago my son insisted that we needed to get a gaming PC I told him ok if we get a gaming PC you have to mine crypto crazy so we set up an ethereal miner on there and you've made a few pennies a few dollars since he later admitted that Google had been slow to adopt blockchain and that it was not on the bleeding edge of tech he doesn't know too much about crypto but finds the technology extraordinary I see the future is taking these researchy out their ideas and making them real a hundred years ago russian-born Brin may very well have been mining with in an actual coal mine mining aetherium in 2018 may not be all that lucrative as a gaming PC but at least it doesn't break any child labor laws we will know when the apocalypse is here when the four horsemen arrive for the end of Bitcoin we only apparently need three economists Joseph Stiglitz Kenneth Rogoff and Nouriel Roubini all came out against crypto with the usual five Bitcoin will fail as a currency and has no intrinsic value and it suffered price volatility yada-yada-yada Nobel Prize winning economist Stiglitz was particularly cutting he said that it contradicts the idea of a transparent banking system which allows for nefarious activity which no government can allow I hate to be a stickler mr. Stieglitz but the entire history of banking is riddled with nefarious activity from the Medicis to the Lehman Brothers and beyond a lot of which the government allowed Stiglitz went on once the crypto currency market becomes significant they will use the hammer Rogovin or beanie aka dr. doom concurred this dr. doom thinks Bitcoin fulfills none of the characteristics of money and is too volatile to be a store of value the three economists of the fug pocalypse coming soon to theaters near you Elon Musk modern-day da Vinci or Silicon Valley's the Donald despite his genius Elon Musk has been pretty hard to love as of late there was the meltdown during the conference call he suggested a rating system for journalists credibility and reports abounded that Tesla workers are not paid or forced to use their vacation during factory shutdowns this week he tweeted the taluk route Aaron was not abused good to know that amongst the billionaire boys club there are at least some grown-ups in the room China's crypto crackdown unfortunately seems to have worked before the Bitcoin purge last year China accounted for the majority of all crypto trades now trading Wan for Bitcoin has plummeted below 1% of the global volume in Japan which has taken the opposite approach and opened itself up to the crypto world by introducing a licensing system for digital assets last year is now the crypto trading hub with the yen accounting for over 44 percent of global crypto trading volume in January Bobby Lee who was forced then to shut down BTCC operations in China said he was hopeful that the government would eventually lift the ban but he couldn't predict a time frame frankly speaking I don't know what kind of time frame that is whether it's a few months a few years or even a few decades it's hard to tell China is the ultimate centralized state philosophically the polar opposite of satoshis original dream so it's perhaps unlikely to be anytime soon if China eventually does lift the ban on crypto what year do you think it will do 2033 20 to 30 convictions in the comments please and as always like subscribe and hotle coin Telegraph like subscribe and model you

4 thoughts on “Three Economists of the FUDpocalypse | Hodler's Digest”

  1. so it took just 95 000$ to get Trump elected. that's the most cost-effective campaign I've ever heard of. they should stop fundraising millions for presidential campaigns and just hire a bunch of hackers then. pay them with bitcoins as well which is even better since you can mine it, so it's just electricity costs after all..

  2. china's gonna confuse the world what real blockchain means with de facto central control systems. and after the war atrocity, the two peoples of chinese and japanese can finally love each other in the crypto space 😉

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