How do Dr Doom’s ongoing anti-Bitcoin comments hold up under scrutiny?

Image: Bitcoin under scrutiny. (Adobe licensed stock by makedonski2015)

I spend A LOT of time on Twitter. Far too much if you ask my other half.

The reality is in a fast moving, ever changing environment like the world of crypto, my feed constantly fills up with new opinions, discussion and news that’s very helpful for keeping on top with what’s going on. But it also means I often see the same clips, memes and articles over and over again.

Recently, Professor Nouriel Roubini’s February interview on Bloomberg keeps finding its way onto my screen — just another appearance where he repeats his traditional “anti Bitcoin” position ad nauseum


… or zero impact?

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It’s finally here. The giant $1.9 TRILLION stimulus package, also known as the “America Rescue Plan,” has been signed off and, to paraphrase a now outdated expression, the first “checks are in the post.”

Indeed, at the time of writing this article, a handful of Americans may already have received their money.

For once, I am going to resist providing my usual commentary on whether creating this much money is good for the economy or the value of the dollar in the long term and focus instead on where that money might go.

This is the third round of stimulus…


We already have a cast iron precedent

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At first glance this seems to be a very bold claim.

After all, this is often cited as a reason that Bitcoin can’t succeed, specifically, the point that “they” will simply shut it down. We can assume that “they” is a faceless collection of powers represented in various forms including governments, regulators or even monarchies.

But the reality is that it’s already too late for that. In fact, it was probably too late within a few months of Bitcoin’s birth in 2009 when the practical applications rapidly became clear. …


No, the ship hasn’t sailed. We’re still building it

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Words are incredibly powerful.

The right words at the right time can change the world — both positively or negatively — and they can be as equally as uplifting or devastating on our own psyche if we let them.

So perhaps the most dangerous combination of all is that simple construction compromising of just two apparently innocuous words:

If only …

It’s easy to get lost down this rabbit hole of infinite possibilities and imagine reliving your life from a certain point with different choices, like replaying a level in a video game with the benefit of knowing what’s coming…


Gemini’s latest U.K. report confirms some long term beliefs, but also smashes others

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Recently, I was contacted by a student in Ireland via Twitter asking for information on the demographic and socioeconomic backgrounds of “typical” holders, users and investors of bitcoin and other cryptocurrencies. It was only at this point I realized I didn’t have a good enough answer for him.

It’s not like I hadn't thought about it. In fact, it had become a bit of a fun pastime of mine to ask other people how they would describe such a person, on a purely curious and anecdotal basis, whenever the chance came up in conversation. …


We need to talk about heat

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Prologue:

While this article can be enjoyed as a standalone piece, it is best read in conjunction with this earlier article that deals with another negatively perceived aspect of Bitcoin mining, namely power consumption.

The key points that can be taken from that piece are:

  • Bitcoin mining is a huge industry that is growing rapidly, but has three significant environmental concerns which are: power consumption, heat generation and recycling of equipment.
  • Whilst it’s true that power consumption is currently a problem, it is argued that it is not as big as it is made out to be and there are even…


Why the power consumption issue may not be as simple as you think

Image: “Gas Flare” Licensed Adobe stock by Background Photo

I recently wrote an article about how Bitcoin’s mining operations could ultimately end up being good for the planet.

Some considered it controversial and pointed me to various facts and surveys indicating how damaging it is, many of which I had considered when doing research for the piece.

They’re right, of course. There’s little doubt that if we carried on down the existing path, Bitcoin’s mining impact could have a significantly adverse effect on the planet in the long term.

But the overriding point made in that article is that I firmly believe that the path we’ll ultimately end up…


No, we’re not suddenly in uncharted territory. We’ve always been there.

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It’s quite stressful having skin in the game in a bear market.

You watch your net worth drop — sometimes dramatically and sometimes by the minute like some sort of slow-motion financial car crash — and wonder what the right call is.

Do you realize that paper loss and walk away, poorer in money terms, but (perhaps) richer in experience? Or hold on and keep your faith in whatever asset or product it is that you believe in?

The answer is an almost impossible calculation of variables, probabilities, emotions, and personal circumstances unique to each individual playing the game.

But…


As Bitcoin sets new All Time Highs, what’s the right move?

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I’ve been writing and talking about Bitcoin for some years now and I can always tell what stage of a market cycle we’re in by the questions I’m asked and how frequently I’m asked them.

Most of the time, for example, if I’m out with a group of friends or colleagues (back in the days when you could actually do this) Bitcoin will not be mentioned for fear that I should “go off on one” for a solid ten minutes or so. …


Whether it’s last minute or planned, what’s the best way to give it?

Image: Licenses adobe stock, by Andrii

Most if us are lucky enough to have had a childhood where we experienced at least once the joy of opening a birthday or Christmas card and watching with excitement as a currency note fluttered to the ground. It was usually a small denomination, but in our minds, we were rich!

Many of us still use notes in cards as gifts at special times of year, but as we grow older we find that we’re now the ones providing them rather than receiving them, such as it should be.

So while the process for cash is well proven and millions…

Jason Deane

I blog on things I am passionate about: Bitcoin, writing, money, life’s crazy turns and being a dad. Lover of learning, family and cheese. (jasondeane@msn.com)

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