inflation

Maduro Orders Venezuelan Bank Closures Amid Coronavirus Scare

</header> <strong>In order to combat the coronavirus outbreak in Venezuela, President Nicolás Maduro has ordered the entire country to quarantine themselves. With an inflation rate that rises more than 10,000% per year, the country’s citizens have already been dealing with economic turmoil. Maduro has also shut down the national banking system and regional authorities banned …

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Coronavirus Financial Crash Is Bitcoin’s Biggest Test, BitMEX Says

BitMEX, the world’s second largest crypto exchange by daily trading volume as of press time, believes that amid the ongoing global coronavirus crash, Bitcoin faces its biggest challenge and the opportunity to prove its potential during the global financial crisis. The 2020 coronavirus financial crash could be the biggest opportunity Bitcoin has ever seen On …

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Rumors of Bitcoin’s Death Are Greatly Exaggerated

</header> <strong>According to the <a href=”https://99bitcoins.com/bitcoin-obituaries/”>Bitcoin Obituary Page</a>, Bitcoin died 379 times between 2010-2019 of an astonishing array of causes. The number is undoubtedly understated since it is based on a limited sample of obituaries. Despite the glee with which the corpses of Bitcoin are contemplated, however, cryptocurrency thrives because it continues to fill the …

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Understanding Defi Flash Loans: Complex Attacks, Inflation and Composable Systems

</header> <strong>Two recent flash loans on the defi platform Bzx have started a fierce debate about the subject of using uncollateralized loans in a quick trade. Essentially these flash loans are providing people with the ability to borrow crypto without relinquishing any collateral. The scheme was used to exploit funds from the Bzx platform twice, …

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The Country With Europe’s Highest Interest Rate Has Cut It 5 Times This Year

</header> <strong>Around half of European countries, over 20, now have 0% interest rates and a few are already in negative territory. Ukraine, which has the highest benchmark interest rate on the continent, has just reduced it again, for the fifth time this year. The race between central banks to cut rates, when there is inflation, …

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China’s Inflation Hits a Record 4.5% as Beijing Prepares to Test Digital Yuan

</header> <strong>China has been confronted with multiple economic and financial problems this year amidst an ongoing trade war with the United States. Authorities in Beijing have been trying to overcome the challenges with administrative measures in what has become a market economy over the years. And it’s backfiring. Inflation of the yuan just rose to …

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Crypto Secularizes Wealth by Returning Power to the People

</header> <strong>Secularization is the process of converting something from a religious status to a nonreligious one. In its usage here, the word “religious” has no necessary connection to a deity. The word refers to the mystification of a thing in order to elevate it to the status of the divine where it becomes unquestionable.</strong> Also …

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How Fiat Money Fails: Deconstructing the Government’s Paper-Thin Promise

</header> <strong>Fiat money has a surprisingly short lifespan. The almighty U.S. dollar currently serving as world reserve currency is not exempted, in spite of all proclamation that it cannot fail. Throughout history, fiat money has failed over and over again, where sound assets like gold have survived. Ruling out acts of god and unforeseen circumstance, …

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Sean Walsh: Cryptocurrencies Can Harness More Human Energy

</header> <strong>Bitcoin scores high in terms of ‘moneyness’ compared to other forms of money as it has some technical advantages and social inertia. In an interview with Bitcoin.com’s Humans of Bitcoin podcast, brilliant contrarian thinker Sean Walsh shared his opinion about cryptocurrencies and their place within the global financial system. The crypto investor believes decentralized …

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