Coinbase announced that they have shut down 25,000 wallets belonging to Russian customers. This announcement should blow the lid off of any idea that cryptocurrencies are a “safe haven” because they are dependent upon the frail technology where they are stored, and they are subject to tyrannical governments
China has tried to ban cryptocurrencies before, ordering third-party payment providers to stop using bitcoin, banning token sales and crypto exchanges, and outlawing mining, but it has failed. China is aggressively clearing the runway for its own central bank digital currency that tracks all transactions.
El Salvador’s legislature voted this week to accept Bitcoin as legal tender alongside the US dollar, which is the country’s official currency. Critics say that El Salvador’s acceptance of a competing currency is a hedge against the US dollar that has massively increased its money supply, which will cause inflation.
James Corbett explains the differences between Bitcoin, blockchain, cryptocurrency, and digital currency. They may all sound like they are the same but they are not, and the differences are extremely important for anyone hoping to keep up with the rapidly evolving lead-up to the cashless society. Don’t miss this one. Full transcript is provided in link.