El Salvador, bitcoin
Cryptocurrency

El Salvador’s experiment with Bitcoin as legal tender has been a spectacular failure

- September 12, 2022 4 MIN READ

A year ago, El Salvador became the first country to make Bitcoin legal tender – alongside the US dollar, which the Central American country adopted in 2001 to replace its own currency, the colón. President Nayib Bukele, a cryptocurrency enthusiast, promoted the initiative as one that would deliver multiple economic benefits. Making Bitcoin legal tender,… Read more »

bitcoin
Cryptocurrency

Cryptocurrencies are great for gambling – but doesn’t achieve much when it comes to DeFi and freeing us from central banks

- July 4, 2022 4 MIN READ

The dream that decentralised finance – or “DeFi” – can free the monetary system from the clutches of governments and banks has helped launch 20,000 cryptocurrencies. But with 2022 proving to be more of a crypto-nightmare – including for the vaunted “stablecoins” that held the most promise as rivals to central bank-issued currencies – questions… Read more »

Bored Ape
Cryptocurrency

NFTs are an overblown speculative bubble fuelled by pop culture and cryptomania

- January 14, 2022 4 MIN READ

Comedian Robin Williams once called cocaine “God’s way of telling you you are making too much money”. This role may now have been overtaken by non-fungible tokens, the blockchain-based means to claim unique ownership of easily copied digital assets. The latest NFT mania involves fantastic amounts of money being paid for “Bored Apes”, 10,000 avatars… Read more »

Elon Musk
Cryptocurrency

Bitcoin’s dirty secret: Elon Musk’s change of heart is a warning to cryptocurrencies to clean up their carbon footprint

- May 18, 2021 4 MIN READ

Over the weekend, Tesla chief executive Elon Musk suggested his company could sell off its Bitcoin holdings, sending the cryptocurrency plummeting. It followed Musk’s announcement earlier this month that his company would no longer accept Bitcoin in payment for its electric cars, due to the fossil fuels needed to create the digital currency. Bitcoin is… Read more »