Stablecoins for Purchases? Not So Much

By |2021-01-28T17:15:16+00:00January 28th, 2021|Cryptocurrency|

I have said quite a lot in the past couple of months about how Bitcoin is not the best cryptocurrency for actual purchases, mainly because of its volatility.  Instead, I recommended using an asset-backed stablecoin, such as Circle’s USDCoin, to avoid market risk.  I have also criticized the most popular stablecoin, Tether, for failing [...]

Cryptocurrency in China’s Economic Strategy

By |2021-01-11T20:47:55+00:00January 11th, 2021|Cryptocurrency, Governments, International, Payments|

Recently, China piloted a new state-owned cryptocurrency, the digital yuan.  In this article, I will show how this fits into China's larger economic strategy, and why it is a harbinger of problems for the West and the mainstream payment networks. On November 24, 2020, the New York Times published an article, “China Says It Remains [...]

Bitcoin is Not a Viable Currency. Stablecoins Will Be.

By |2021-01-19T18:30:44+00:00December 14th, 2020|Cryptocurrency, Payments|

(Note: this article was updated on January 19, 2021 to account for new information, particularly the extension of the boom in Bitcoin valuation since the original publication on December 14, 2020. These changes reinforce the points made in the original) Bitcoin has been on a roll lately, hitting a record high of $40,258.92 on January [...]

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