Just because cryptocurrencies operate outside of government policy doesn’t mean they’re devoid of politics.
The controversy between Bitcoin and Bitcoin Cash came to a head yesterday at a convention called Deconomy in Seoul South Korea. The pinnacle was a stand-off debate between Samson Mow and Roger Ver.
Certainly, Ver was much better prepared for the debate than Mow and was largely touted as the winner, a huge win for Bitcoin Cash. The highlight was when Vitalik confronted Professor Craig Wright and called him a fraud.
We’ll do a quick comparison below but it does seem that this conversation is still far from over.
Stocks largely held their ground yesterday even as rhetoric and action surrounding the new global trade war have increased.
By the time the closing bell rang US indices were up more than 1% supported by the 200 day averages (discussed in yesterday’s update) and a smooth debut from Spotify.
No matter how good the playlist is, the underlying theme remains consistent.
In this interview on CNBC, the Chinese Ambassador to the US explains that these sort of issues are usually best resolved through multilateral discussions and that any unilateral action will need to be met with equal or greater countermeasures.
As I’m writing, it seems China has made good on their threat and has just now released their reciprocal tariff announcement.
Shares across the board are sinking on this latest update.
Bitcoin Scaling (continued from above)
Perhaps the most dishearting thing about the debate was an admission by Samson Mow that sending 10 cents worth of bitcoin would actually cost more than 10 cents in mining fees. This just shouldn’t be.