Inside the cult of crypto

Chris DeRose was noodling away on the internet when he stumbled over an intriguing post on Slashdot, a forum for extremely online hyper-geeks like himself.

“How’s this for a disruptive technology,” a user wrote on July 11 2010, enthusiastically describing a decentralised, peer-to-peer digital currency with no central bank, no transaction fees and beyond the reach of any government. Using computers to solve cryptographic puzzles would earn people “bitcoins”.

DeRose was intrigued yet unconvinced by the concept. The young Floridian programmer struggled to see what utility it might serve. Many others on the forum were also sceptical. “Hey thanks for

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Coinbase, the largest crypto exchange in the US, faces a potential SEC investigation

Cryptocurrency has an SEC problem — and it just got bigger.

The Biden administration is taking a more hands-on approach to the highly volatile, little understood, and barely regulated cryptocurrency industry. Cryptocurrencies are decentralized digital currencies secured by blockchain technology. Bitcoin, ethereum, and other cryptocurrencies have become almost as accessible as government-issued currency in recent years, but the government offers few consumer protections for them.

The Securities and Exchange Commission (SEC) — led by Gary Gensler, who taught a class on cryptocurrency at MIT — is trying to make the case that it can and will regulate whatever cryptocurrency investment

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Does Bitcoin’s recent flash crash mean Warren Buffett is right to hate crypto?

Does Bitcoin’s recent flash crash mean Warren Buffett is right to hate crypto?

The past month and a half has been bumpy for Bitcoin.

After a bully first quarter of 2021 that led to an all-time peak of $63,000 per unit in mid-April, the world’s leading digital currency now hovers around $45,000, thanks in large part to a Tuesday flash crash of roughly 15%.

Holdout investors who only a couple of weeks ago may have thought they’d missed an opportunity of a lifetime are now sighing with relief; meanwhile, those who bought in at the peak are trying not to

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South Africa Bank: ‘Crypto Is Not Currency’

Reactions to cryptocurrencies have been mixed across the world. While countries like El Salvador have embraced bitcoin and classified the marquee cryptocurrency as legal currency, others like India and China have been more measured in their approach — or downright hostile toward the virtual currencies.

Read more: Adults in El Salvador Get $30 in Crypto Ahead of Bitcoin Legalization

South Africa is one of the countries to recently affirm its national position on the fate of digital currencies, following remarks by the Governor of the South African Reserve Bank (SARB) Lesetja Kganyago, as reported on Monday (Aug. 30).


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Bitcoin ban: These are the countries where crypto is restricted or illegal

Bitcoin has been controversial since its beginning in 2009, as have the subsequent cryptocurrencies that followed in its wake.

While widely criticised for its volatility, its use in nefarious transactions and for the exorbitant use of electricity to mine it, Bitcoin is being seen by some, particularly in the developing world, as a safe harbour during economic storms.

But as more people turn to cryptos as either an investment or a lifeline, these issues have manifested in an array of restrictions on their usage.

The legal status of Bitcoin and other altcoins (alternative coins to Bitcoin) varies substantially from country

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Slovenian finance authority proposes 10% tax on crypto income

According to regional media reports, the Financial Administration of the Republic of Slovenia, or FURS, is considering imposing a 10% taxable income bill on cryptocurrency asset activity in the near future.

Under the current legislation method, the authority analyzes an individual’s digital asset activity on a case-by-case basis by trawling through their buy and sell transactions. This can result in a stagnant and tedious crypto administrative process.

The introduction of this progressive initiative aims to digitally streamline the process, focusing solely on the purchase of goods and services, or the conversion of crypto assets into fiat currencies. Within these parameters,

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Investor Guru Says Crypto Is a ‘Worthless’ Bubble

Image for article titled Billionaire Investor Who Predicted the 2008 Housing Crash Says Crypto Is a 'Worthless' Bubble

Photo: Spencer Platt (Getty Images)

John Paulson, the billionaire investor who accurately predicted (and bet against) the subprime mortgage crisis in 2007, has some kind words for cryptocurrency: mainly, that it is a vacuous financial bubble bound to eventually collapse.

“I wouldn’t recommend anyone invest in cryptocurrencies,” Paulson told Bloomberg during a recent interview.

The financier, who is retired from the hedge fund business, made close to $4 billion in 2007 when he bet against the subprime mortgage lending market—a decision that reportedly made him “one of the biggest fortunes in Wall Street history.”

During his recent

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Crypto platform asks hacker to become security advisor

The Poly Network logo displayed on a phone screen with a physical representation of some cryptocurrencies.

Jakub Porzycki | NurPhoto via Getty Images

The cryptocurrency platform targeted in a massive heist is now inviting the hacker behind it to become an advisor to the firm, and promising a $500,000 reward for the restoration of user funds.

Poly Network, a so-called decentralized finance or “DeFi” project, was hit with a major attack last week which saw the hacker, or hackers, make off with more than $600 million worth of tokens.

Poly Network lets users swap tokens from one digital ledger to

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6 Ways to Earn Free Crypto

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Free money is nothing new to astute consumers: Credit cards have sign-up bonuses, bank accounts earn interest, and there are even tools to get cash back when shopping online. 

And now, you can get many of those same perks issued in cryptocurrency instead of credit card points or U.S. dollars.

If you’ve already added cryptocurrency to

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Turkey’s crypto bill ready for parliament, says Deputy Minister of Finance

The Turkish Ministry of Treasury and Finance announced that a draft bill to establish a legal framework for crypto assets in the country is ready. 

Deputy Minister Şakir Ercan Gül announced that the crypto bill would be proposed to The Grand National Assembly of Turkey, the unicameral Turkish legislature, at the start of the next legislative year in October 2021.

Noting that Turkey is using a free-floating exchange regime — i.e., the value of the lira is set by the forex market — Gül said the country needs similar but stricter regulation for crypto assets than Western Europe or the

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