I am not a journalist. This is written by ChatGPT. I had it summarize articles for you, so you don't have to read some of the more crude writings of journalists. It's a great tool, but you have to fact check it yourself. Watch your facts.
Researchers from Rutgers University found that people who often trade cryptocurrency, a digital form of money, are more likely to have problems with gambling. This is the first study to look at how people who gamble also trade cryptocurrency. Cryptocurrency is like regular money, but it's online and uses special security. Bitcoin is a well-known cryptocurrency that got popular in 2017.
For people who gamble a lot, trading cryptocurrency is like a new way to take risks, similar to betting on sports or playing lottery games. More than half of the people who gamble a lot have traded cryptocurrency in the past year.
The researchers wanted to see how often gamblers use cryptocurrency and if it makes gambling problems worse. They found that some people trade cryptocurrency as if they're gambling on sports or slot machines, which can lead to big problems.
Cryptocurrency trading is a lot like gambling, but it's online, not regulated, and you can do it all the time. People who have problems with gambling are more likely to trade cryptocurrency often because they act quickly and think they can beat the system. This is similar to how people who take big risks with regular stocks also trade cryptocurrency. People who do both of these things have more gambling problems and feel sadder and more anxious.
The study looked at 876 adults who gambled at least once a month. They collected information using an online survey. This research is important because it shows that trading cryptocurrency can be risky, just like gambling, and might need more attention from experts.
https://medicalxpress.com/news/2019-03-cryptocurrency-problematic-regular-gamblers.html
People who invest in cryptocurrencies, like digital money, sometimes choose stablecoins backed by valuable things like gold and silver. These stablecoins are less risky and can protect investments when the cryptocurrency market goes up and down. People are now even investing in cryptocurrencies backed by silver.
In 2018, a big gold company in Australia created a cryptocurrency backed by gold. They did this because they saw more people wanting different kinds of investments. Now, some projects are making cryptocurrencies backed by gold or silver to take advantage of their high value.
Silver is not as expensive as gold, but it's becoming popular for investing. People are buying silver because it's useful in many industries, and low interest rates are making its price go up.
Some cryptocurrencies are backed by silver, which means their value is connected to the price of silver. This can be a good thing because if more people use these coins, their value might go higher than silver's price. But silver can be more unpredictable than gold, so these coins can also be riskier.
There are a few cryptocurrencies backed by silver that you can invest in. One is called SilverCoin, which you can buy using other cryptocurrencies or regular money. You don't need special identification to buy it. Another one is Silverlink, which is like a digital version of silver. When people want to buy this coin, real silver is bought from different places, and then tokens are created on the internet. Lastly, there's SilverToken, where each coin is like owning a piece of silver. You can even turn these coins into real silver or use them to buy things.
These types of cryptocurrencies are getting more popular, especially in places where people follow certain rules about money. The three mentioned here are some of the most popular ones.
You might have noticed a lot of ads and talk about things like cryptocurrencies, blockchain, and NFTs. These are seen as new ways to do things, like replacing banks, buying art, investing, and being part of the metaverse.
Some people really believe in these technologies, but they can also be confusing or risky. A researcher looked into discussions on Reddit about cryptocurrencies and found that some people who are really into it, called "True Bitcoiners," think these technologies can make people trust technology more than they trust the government. They see governments and big companies as not trustworthy, and they believe that using these new technologies can change that.
These enthusiasts think that using cryptocurrency, like Bitcoin, can help take away power from governments and big companies. They see it as a way to change the world. They believe that using these technologies is like a form of activism to make society trust technology over governments.
However, there are also dangers. These enthusiasts often ignore the risks of using cryptocurrencies, like the fact that their value can go up and down a lot, and sometimes people lose money. They also downplay the role of governments and companies in keeping our money safe. While these technologies have potential, they might not bring the big changes these enthusiasts hope for.
So, while these technologies are getting a lot of attention, it's important to be aware of the promises and risks they come with.
https://phys.org/news/2022-03-crypto-hype-ideology-social.html
People who invested in cryptocurrency on an exchange called Liquid Global were victims of a hack that cost them a lot of money. The company says it will return the money, but customers are worried. People from different parts of the world shared their stories about how the hack affected them.
For example, Chris, a taxi driver from Austria, said he might lose around £2,100 worth of cryptocurrency, which could have been used to buy a new used car. Dina from Indonesia is worried about the $30,000 she invested, which she needs to support her family. A Norwegian doctor could lose around 969,000 euros, causing him a lot of stress.
This is not the first time cryptocurrency exchanges have been hacked. Many people use these exchanges to buy and sell digital coins like Bitcoin, but they are not always safe. Since 2014, hackers have stolen at least £1.6 billion from cryptocurrency platforms. These hacks can happen often, and because these platforms are not regulated like banks, there's no guarantee that customers will get their money back.
Experts say that the cryptocurrency industry needs better security and more regulations to protect people from losing their money. They also point out that even though traditional banks can also be hacked, they are better defended and have rules to reimburse their customers. Cryptocurrency systems are still new and growing fast, which makes them vulnerable to attacks. Some experts believe that more regulations and auditing are necessary for the industry to become safer for everyday investors.
https://www.bbc.com/news/technology-58331959
I heard this on the radio: https://markmoss.iheart.com/
Lawmakers sometimes try to use their power like magic wands to achieve things that might not be realistic. Senator Elizabeth Warren is an example of this, especially when it comes to digital assets like bitcoin. She cosponsored a bill called The Digital Asset Anti-Money Laundering Act of 2022, which aims to regulate digital assets like cryptocurrencies in a way that contradicts the original purpose of these assets.
The bill wants to subject people who use cryptocurrencies to the same rules as traditional financial institutions to prevent money laundering and terrorism financing. This would include individuals who run software on their computers for cryptocurrencies, essentially treating them as licensed money service businesses. The bill also targets "unhosted" wallets, which are digital assets not controlled by regulated exchanges or banks, arguing for a lack of financial privacy.
However, this approach runs into several problems:
Bitcoin doesn't work the way Senator Warren thinks it does. Unlike traditional money, bitcoin transactions involve passing around secret codes that indicate a shift in control of a protocol address. There is no central bank to regulate, and the transactions are not equivalent to money transfers in the traditional sense.
The First Amendment protects code as speech. The bill tries to regulate code that powers cryptocurrencies, but since code is considered a form of speech, the government is constitutionally limited in its ability to control it.
Money is a neutral tool. Cryptocurrencies are meant to facilitate trade, but overregulation can actually harm their functionality. Lawmakers shouldn't interfere with the natural function of cryptocurrencies, just like they shouldn't make certain words illegal in the realm of free speech.
Senator Warren's attempt to regulate cryptocurrencies based on her misunderstanding of their operation reflects a common misconception among legislators. While it's okay to have opinions about cryptocurrencies, it's important to avoid misrepresenting their nature and using government power to manipulate them in ways that might not be effective or appropriate.
https://www.zerohedge.com/crypto/senator-who-didnt-know-thought-she-did
The State Bank of Pakistan (SBP), the country's central bank, has reportedly decided to ban the use of all cryptocurrencies in the country. The SBP has also asked the Sindh High Court to ban "unauthorized operations" of crypto exchanges and impose penalties on them.
A committee composed of officials from the Pakistani Ministry of Finance, Ministry of Information Technology, Telecommunication Authority, and the Securities and Exchange Commission submitted a report to the Sindh High Court recommending a complete ban on all cryptocurrencies and related activities in Pakistan. The committee argued that the risks associated with cryptocurrencies outweigh their benefits, citing concerns about money laundering and terrorism financing.
The committee also urged the court to take action against unauthorized crypto exchanges and impose penalties on them. The Sindh High Court has directed the Ministry of Finance and the Ministry of Law to jointly recommend whether any form of cryptocurrency can be legally used in Pakistan. The decision is expected to be made on April 11.
A petitioner, Waqar Zaka, a television host and crypto entrepreneur, has argued for the legalization of cryptocurrencies. The court will continue to hear his petition on April 12.
https://news.bitcoin.com/pakistans-central-bank-decides-to-completely-ban-cryptocurrency-report/
Securities and Exchange Commission (SEC) Chairman Gary Gensler has urged the majority of participants in the cryptocurrency industry to register with the commission. He emphasized the need for investor disclosures and regulatory oversight that are similar to those in traditional securities markets.
Gensler stated that most crypto tokens can be classified as securities, and therefore, they should be subject to SEC registration and oversight. He made this argument in two public appearances, highlighting the importance of bringing cryptocurrency activities under regulatory scrutiny and ensuring investor protection.
Most investors here to poach pathological imbeciles:
Bill Gates, the billionaire Microsoft co-founder, expressed skepticism about cryptocurrencies and non-fungible tokens (NFTs) during a TechCrunch talk on climate change. Gates referred to the phenomenon as being driven by the "greater fool theory," implying that their value relies on finding more investors willing to pay higher prices.
Gates humorously mentioned "expensive digital images of monkeys," likely referring to the Bored Ape Yacht Club NFT collection, and questioned their contribution to the world. He also stated that he's more accustomed to asset classes with tangible output, like farms or companies that produce products.
While Gates isn't involved in cryptocurrencies and NFTs, he acknowledged his lack of participation in trading them and stated he neither supports nor opposes them. Cryptocurrencies have faced recent market turbulence, with Bitcoin experiencing significant price drops and the collapse of certain stablecoins causing concerns within the crypto community.
The article discusses the political polarization surrounding cryptocurrencies and how different parties have embraced or criticized them. It highlights the case of Elizabeth Warren, a progressive icon known for her stance against Big Finance corruption, who has taken an anti-crypto position in her policy platform as she runs for re-election.
The author points out that Warren's anti-crypto stance is puzzling given her background and the potential alignment between her causes and the benefits of crypto technology. They suggest that crypto could offer solutions to issues Warren has been vocal about, such as leveling the playing field for small businesses and holding creditors accountable. However, Warren has chosen to cast crypto in a negative light, emphasizing its association with scams, terrorism financing, and environmental concerns.
The author acknowledges that the crypto industry does have its problems, but they criticize Warren's approach for focusing only on the negatives and misrepresenting the industry. They argue that Warren's anti-crypto platform is disingenuous and driven by political motives, and they encourage the crypto industry to address its PR problems and effectively communicate the potential benefits of the technology to the mainstream.
Overall, the article highlights the challenges posed by political polarization in the crypto space and suggests that the industry needs to proactively address negative perceptions and promote a balanced understanding of its potential impact.
https://www.zerohedge.com/crypto/elizabeth-warren-wants-progressives-hate-crypto