{"id":35856,"date":"2022-05-12T05:34:33","date_gmt":"2022-05-12T10:34:33","guid":{"rendered":"http:\/\/huewhite.com\/umb\/?p=35856"},"modified":"2022-05-12T05:34:33","modified_gmt":"2022-05-12T10:34:33","slug":"currency-always-has-costs-ctd-12","status":"publish","type":"post","link":"https:\/\/huewhite.com\/umb\/2022\/05\/12\/currency-always-has-costs-ctd-12\/","title":{"rendered":"Currency Always Has Costs, Ctd"},"content":{"rendered":"

It appears Bitcoin<\/strong> is struggling a bit since the last time<\/a> I checked in:<\/p>\n

\"\"<\/a>

1 Year chart of Bitcoin value in US$ from CoinMarketCap<\/strong><\/a>.<\/em><\/p><\/div>\n

Yeah, that’s down more than 50% from the year’s high. That cannot be comforting to the speculators who went big on Bitcon<\/del><\/strong> Bitcoin<\/strong> a few months ago. Michelle Singletary, a financial columnist for WaPo<\/strong><\/em>, is not a fan of holding large amounts of 401K money in cryptocurrencies.<\/a><\/p>\n

But perhaps the best part of Singletary’s column was the reader “ArlingMay” who wrote, in part:<\/p>\n

Call them “cryptoassets” or “cryptobets” but please don’t’ [sic] call them currencies. That label misleads the gullible.<\/p><\/blockquote>\n

The reader remarks were dominated by cryptocurrency haters, but I did like ArlingMay’s thought. I’m a skeptic myself, but I keep feelers out for attempts to dominate a forum in order to induce false estimations of an issue, but that one struck me as both earnest and true.<\/p>\n

In any case, the volatility over a year of Bitcoin’s<\/strong> value is a strong indicator that Bitcoin<\/strong> does not qualify as a ‘currency,’ in my estimation. I still cannot figure the unique utility of Bitcoin, and I lean towards Erick Erickson’s view on the matter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

It appears Bitcoin is struggling a bit since the last time I checked in: Yeah, that’s down more than 50% from the year’s high. That cannot be comforting to the speculators who went big on Bitcon Bitcoin a few months ago. Michelle Singletary, a financial columnist for WaPo, is not \u2026 Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-35856","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/35856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/comments?post=35856"}],"version-history":[{"count":2,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/35856\/revisions"}],"predecessor-version":[{"id":35859,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/posts\/35856\/revisions\/35859"}],"wp:attachment":[{"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/media?parent=35856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/categories?post=35856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/huewhite.com\/umb\/wp-json\/wp\/v2\/tags?post=35856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}