Tag: crypto

Brian Quintenz, former commissioner of the Commodity Futures Trading Commission (CFTC) and a current crypto advisor, joins “Plugged In” host Neil Chatterjee to talk about the future of commodity trading and how cryptocurrency has played a role in the energy and agriculture markets.

Quintenz said the CFTC is very broad and “touches every aspect of American life.” He said the regulator has helped to create transparency in the swaps market and helped mold a better way to prepare for risk management in the industry and within the agencies.

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I’m no fan of crypto-currencies, thinking them mostly speculative hype backed up by interesting by fundamentally nonsensical technology. But there’s certainly a bunch of money in it for some people (disclaimer: not me), and so I understand the interest in it. I’m similarly bearish about alternative energy — specifically, wind and solar — thinking it […]

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Rich Goldberg posted the third episode of his new Cryptonite podcast a few days ago, and I’ve just finished listening to it. I continue to find this an interesting podcast about an interesting topic. His first two guests seemed to make a lot of sense to me — in no small part, I’m sure, because they […]

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A Use Case for Cryptocurrency

 

As I’ve said many times, I’m broadly skeptical about cryptocurrencies, think blockchain falls right behind self-driving cars as the second most over-hyped computer technology, and believe Bitcoin is a speculative bubble of little intrinsic value.

Having said that, there is one use case for cryptocurrency that I’ve acknowledged from the start: it can be a practical way for people to execute transactions that those in authority would like to prevent them from making. In some benighted places, like Cuba and Venezuela and other progressive utopias, cryptocurrencies allow people to circumvent kleptocratic governments. That’s nice, and I’m all for that, but it isn’t (yet) a First World problem.

On this AEI Events Podcast, Economic policy experts discuss the regulatory challenges that bitcoin and other cryptocurrencies pose. A panel discussion, moderated by Alex J. Pollock of R Street Institute, features experts Jerry Dwyer, Bert Ely, AEI’s Paul H. Kupiec, and Hadley Stern.

The rise and fall in the price of bitcoin and competing cryptocurrencies make headlines daily. Are bitcoin and its competitors viable currencies or just a fad that will fade if a speculative bubble bursts? Is the underlying blockchain technology that makes bitcoin possible an important financial innovation? Do cryptocurriencies create economic value, or are they valuable because they hide transactions from governments? Will (and should) governments kill cryptocurrencies or allow them to develop into important major payments systems?