Tag: Cryptocurrency
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Digital Currencies Don’t Need Government Backing
Michael Petraeus, better known as Critical Spectator, wrote an article for Vulcan Post arguing that digital currencies can only work with government backing. By ‘digital currencies’ he singles out Bitcoin for criticism. This in itself is the fatal flaw underlying his thesis. To understand where Petraeus is coming from, he is one of Singapore’s highest…
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Cloud Token: Money Machine or Scamcoin?
Several weeks ago, an acquaintance invited me and my wife for a discussion. He wanted to sit down with us to talk about how we could ‘achieve financial freedom’. We had met him at a seminar we had attended in July, and we were all seeking ways to expand our income. Thinking it was a…
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Clarity on Cryptocurrency
With all the sturm und drang about cryptocurrency in the mainstream media lately, I think it’s high time for some clarity on cryptocurrency. I am not, by any means, an experienced investor and this should not be considered investment advice of any sort. I am, however, coming from the perspective of a science fiction writer,…
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Ethereum Cofounder Vitalik Buterin Supports Legalization of Possessing Child Porn
Today Vitalik Buterin, cofounder of Ethereum, tweeted in support the legalisation of the possession of child pornography. His tweets, now deleted, are reproduced below. (Original sources for the first and second pictures.) These statements are outrageous. By legalising the possession of child pornography, it will cause demand for child porn to spike. Producers…
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An Amateur’s Notes on Cryptocurrency
Like most people I know I heard of Bitcoin only when it was too late to profit spectacularly from it. Even so, cryptocurrency rarely popped up in my local newspapers, except in highly technical articles buried in the business or finance pages, or whenever someone made a killing off crypto — or when crypto is…
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Can Blockchains Revolutionise Social Welfare Programmes?
Governments contemplating social welfare programmes have to wrestle with two seemingly irreconcilable problems. On one hand, voters demand social welfare programmes to take care of the poor, sick, elderly and marginalized. On the other, governments need to prevent welfare spending from ballooning extravagantly and ensure that recipients spend the money wisely. In this article, I…