Cryptocurrency feature gone
What are cryptocurrencies?
Brace yourself for an uncomfortable truth: blockchains aren’t really decentralized after all. And this is true on many levels. Using Bitcoin as an example again, you’ll remember that due to proof-of-work, users need to be able to provide tremendous amounts of computing power to participate in the network. Do you own a GPU farm like the one shown in the picture above? If not, it’s highly unlikely you’ll ever be able to validate a transaction. To make things worse, big players, who are rewarded for being the first to validate a transaction, increase their chances by pooling their resources together, leading to even further concentration of the processing power of Bitcoin. Launches crypto fact section blog to Matt Damon, LeBron James, Kyle Lowry, Larry David and other big-name celebrities popped up on millions of television screens encouraging viewers to invest in crypto as the wave of the future, telling them how everyone was getting involved in the trend. There were four companies leading the charge: FTX, Coinbase, Crypto.com and eToro.
Bitcoin problems today
ETH on the execution layer is accounted for separately from the consensus layer. When users execute transactions on Ethereum Mainnet, ETH must be paid to cover the gas, including a tip to the validator. This ETH is already on the execution layer, is NOT being newly issued by the protocol, and is available to the validator immediately (given a proper fee recipient address is provided to the client software). What is cryptocurrency? In addition, More recommended, "any company considering paying workers in crypto should engage a compliance expert to make sure they are complying with applicable state and federal laws." Employees, he said, also "should engage a tax advisor familiar with crypto to make sure they report it correctly to the IRS, or alternatively familiarize themselves with the IRS guidance on this issue—just because others are doing it doesn't mean they're doing it correctly."
Investment seminars
Shamila Nair-Bedouelle Paul Krugman "Sam and FTX were playing a brilliant long-term strategic game (chess). Unfortunately for them, CZ and Binance chose to play a short-term tactical game (checkers) that put FTX under the spotlight on liquidity concentrations at Alameda that were vulnerable to price shocks that CZ/Binance could trigger by dumping particular assets. When FTX crossed the line to try to help Alameda weather the storm, the trap was sprung bringing the whole SBF ecosystem to its knees."