Crypto’s Choice: Join the Financial System or Fight It

The crypto industry faces a momentous choice. Does it integrate with the existing financial system's rules? Or does it choose to fight for its anti-status quo principles?

Why Bitcoin Thrives (and Why It Won’t Replace the Dollar)

A world in which bitcoin becomes the global reserve currency is a world many of us would not want to live in.

Ethereum, Dark Forests and the Limits of Transparency

The crypto world eschewed trust in favor of transparency. But transparency doesn’t solve the problem of untrustworthiness in financial markets.

Banks Are Toast but Crypto Has Lost Its Soul

In becoming a high-risk, high-yield playground for dollar investors, the cryptocurrency world sold out, says our columnist.

Mr. Powell, If You Want Higher Inflation, Give People Money

The Federal Reserve wants a little more inflation to keep the economy buoyant. That's hard to achieve when Main Street is so under water.

Why Bitcoin-Like Scarcity Would Be a Disaster for the Dollar

Calls to restrict the Fed's money printing powers fail to recognize the likely consequences, including price instability.

‘Money Printer Go Brrr’ Is How the Dollar Retains Reserve Status

Forecasts of the dollar's demise are premature. Demand for greenbacks has never been stronger, says our columnist.

How a Fatal Weakness Forced Libra to Capitulate

While Bitcoin created an alternative financial system independent of government, Libra’s architecture depends on the existing fiat currency system – and on the whims of the governments that control it.

Bitcoin’s Halving Is Nothing Like Quantitative Tightening

The halving could both increase the rate at which bitcoin’s price rises and bring forward the point at which it crashes, says our columnist.