The Financial Times responded to ‘B is for Bitcoin’, a book written by crypto fan Graeme Moore by creating its own crypto A-Z. While some of the entries are undeniably accurate, and some clearly tongue in cheek, a few are so wide of the mark that they need addressing. Consider this to be an official BitStarz News rebutle.
C is for centralisation — which is always going to be quicker and cheaper than blockchain.
Try asking the retailers fighting Visa and Mastercard over their high processing fees that centralization is cheaper than blockchain. Also, just two weeks ago Binance sent $1.26 billion in BTC between two cold storage wallets at a cost of $124.60, and it was there in an hour. How much would a bank charge to send that and when would it arrive?
F is for Federal Reserve — the overseer of the true stablecoin.
The Consumer Price Index (CPI) states that the value of the dollar (what goods and services it can buy you) has decreased by half since 1990. Stable, very stable.
L is for Luke Wilson — a humble man using a luxury exit coin to supply fresh water in Africa.
How about Lehman Brothers, the poster child for banking greed and recklessness that helped usher in the 2008 financial crash?
M is for money printing — which is exactly what crypto is doing.
“You never have to default because you print the money.” – Future president Donald Trump in 2016 when discussing repayment of government bonds
W is for wallet — the easy to remember sequence of 34 alphanumeric characters.
Very different of course from your bank’s account number and sort code, which we all know and never need to write down and refer to…
BitStarz News Is Coming for You, FT
Once again the attitude of mainstream media towards crypto is laid bare, although coming from a publication so entrenched in the world of traditional finance this is unsurprising. However, we have no doubt that the 131-year-old institution will be quaking in their boots when we reveal our own crypto A-Z in response later this week. Yeah, you’d better run…