{"id":29927,"date":"2022-09-23T20:26:45","date_gmt":"2022-09-23T20:26:45","guid":{"rendered":"http:\/\/egrowonline.com\/?p=29927"},"modified":"2022-09-23T20:26:45","modified_gmt":"2022-09-23T20:26:45","slug":"opinion-cryptocurrency-still-hasnt-solved-any-problems","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=29927","title":{"rendered":"Opinion | Cryptocurrency still hasn\u2019t solved any problems"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"article-body\" data-qa=\"article-body\">\n<p data-qa=\"drop-cap-letter\" data-el=\"text\" class=\"font-copy font--article-body gray-darkest ma-0 pb-md\">In her Sept. 19 op-ed, \u201c<a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/opinions\/2022\/09\/17\/ethereum-merge-environmental-impact-crypto-challenges\/?itid=lk_inline_manual_2\" rel=\"noopener\">Crypto has hope \u2014 and a long way to go<\/a>,\u201d Megan McArdle shed an ambiguous light on the future of cryptocurrency, highlighting possibilities and breakthroughs, such as ethereum\u2019s new energy-efficient mining method, while acknowledging the challenges that it faces. Though I agree with Ms. McArdle\u2019s opinion that cryptocurrencies have much larger problems than the environmental concerns, Ms. McArdle failed to stress the biggest obstacle of cryptocurrency: adoption by national governments for the faster, easier and safer transactions it promises.<\/p>\n<\/div>\n<\/div>\n<div data-qa=\"article-body\">\n<p data-qa=\"drop-cap-letter\" data-el=\"text\" class=\"font-copy font--article-body gray-darkest ma-0 pb-md\">Governments might see \u201cunregulated\u201d cryptocurrency as competition to their national currencies because crypto bypasses traditional monetary policies. Therefore most, if not all, of the thousands of existing cryptocurrencies will likely phase out.<\/p>\n<\/div>\n<div data-qa=\"article-body\">\n<p data-el=\"text\" class=\"font--article-body font-copy gray-darkest ma-0 pb-md font--article-body gray-darkest ma-0 pb-md\">Ms. McArdle pointed out that cryptocurrency has survived for 14 years, which is \u201cfar longer than your typical Ponzi scheme.\u201d However, she failed to recognize that for these 14 years, cryptocurrency has failed to solve any of the problems it proclaimed to solve. Cryptocurrency is still, as it was years ago, a fruitless hope.<\/p>\n<\/div>\n<div data-qa=\"article-body\">\n<p data-qa=\"drop-cap-letter\" data-el=\"text\" class=\"font-copy font--article-body gray-darkest ma-0 pb-md\"><b>Sungjoon Kim<\/b>,<i> Falls Church<\/i><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.washingtonpost.com\/opinions\/2022\/09\/23\/cryptocurrency-still-hasnt-solved-any-problems\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In her Sept. 19 op-ed, \u201cCrypto has hope \u2014 and a long way to go,\u201d Megan McArdle shed an ambiguous light on the future of cryptocurrency, highlighting possibilities and breakthroughs, such as ethereum\u2019s new energy-efficient mining method, while acknowledging the challenges that it faces. Though I agree with Ms. McArdle\u2019s opinion that cryptocurrencies have much [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":29928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[36],"tags":[52,5644,826,2754,4189],"class_list":["post-29927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-cryptocurrency","tag-hasnt","tag-opinion","tag-problems","tag-solved"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/BQU653BVGQI63IGWIFJJTP7L2U.jpgw1440.webp","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29927"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29927\/revisions"}],"predecessor-version":[{"id":29929,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29927\/revisions\/29929"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/29928"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29927"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}