Where crypto ‘anarchy’ will end | Lex Megatrends

Where crypto ‘anarchy’ will end | Lex Megatrends

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Lex Megatrends. The Crypto Revolution. Anarchy has not conquered the UK despite the predictions of the Sex Pistols. But a version of it is gaining traction in finance worldwide. Cryptocurrencies such as Bitcoin have bedazzled investors and are entering the financial mainstream. Cryptos embody a core tenet of anarchism, co-operation in the absence of centralised authority.

The financial establishment is worried. In this video we predict where it may all end. The invention of Bitcoin in the noughties is credited to the pseudonymous Satoshi Nakamoto. He, or perhaps they, had the revolutionary idea of creating a decentralised currency. Bitcoin deals are recorded in a public distributed ledger, a database accessed and managed by multiple participants.

They verify transactions by solving cryptographic puzzles and are paid in Bitcoin. But Bitcoin is a flagship with flaws. Criminals favour the currency, which sometimes resembles a Ponzi scheme. It is polluting. It is volatile. And Bitcoin is too clumsy to be handy for everyday transactions.

Despite this, Bitcoin has done something truly remarkable. It has shown that a decentralised digital currency can suck in billions, thanks to healthy dissent, base greed, lofty idealism, and sheer fear of missing out.