It’s been a turbulent time for the cryptocurrency markets, so now is a good time to reflect on how and why we got here in the first place. First, an op ed makes the ideological case for Bitcoin. Then, we continue to review the history of Bitcoin from its Cypherpunk days, with the latest installment of The Genesis Files, this time paying tribute to Wei Dai and his “b-money” protocol.
South Korea has seen one of their cryptocurrency exchanges hacked this week, with Coinrail reporting a major theft. Meanwhile, Coinbase has added more tokens and a crypto index fund to its exchange offerings.
Misconceptions about Tether and what is going on with this U.S.-dollar-backed token are explored and explained.
Featured stories by Robert-Jan den Haan, Andrew Kiguel, Randolph Malone, Nick Marinoff and Aaron van Wirdum.
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Op Ed: I Think, Therefore I Bitcoin: The Case for Bitcoin[2]
Andrew Kiguel, founder of Hut 8 Mining, reflects on what Bitcoin means, beyond the hype of its bumpy price charts. He argues that Bitcoin represents freedom to store wealth in an asset that is out of government’s reach; freedom to conduct transactions — peer to peer — without relying on centralized financial institutions that have eroded our trust.
He acknowledges that Bitcoin is not perfect. It will evolve. Scammers will remain, as they do everywhere in the financial community. Regulation will come. Gains will be rightfully taxed. Detractors will continue to hate. Volatility will remain. However, because of the freedom it puts in the hands of individuals, Bitcoin will not disappear or pop like a bubble. Ever.
