Articles: Digital currencies

Bitcoin: the World's first decentralised Ponzi scheme
So long as we have governments with the power to tax and spend in their own currencies, digital pseudo-currencies will never gain traction. Bitcoin and its imitators are a zero-sum game in which the sum of all fiat currency paid for it is the sum of all fiat currency received for it, excluding mining costs. The earlier participants are now cashing out the billions that newcomers are putting into this distributed Ponzi scheme. Play it for entertainment value if you want, but remember that you are purely betting on the greater stupidity of others. (14-Dec-2017)
Webb on "The Pulse" re digital pseudo-currencies
RTHK, 18-Nov-2017
Jump to Part 2 at timestamp 10:40.
Webb on "Backchat" re Bitcoin
RTHK, 15-Sep-2017
Webb at Asia Society re Bitcoin (video)
Asia Society, 23-Jun-2014
Webb to speak on Bitcoin at Asia Society HK next Monday 23-Jun
Asia Society, 17-Jun-2014
HK Govt statement on virtual commodities such as "the Bitcoin"
HK Government, 14-Mar-2014
Webb on "Backchat" re Bitcoin
RTHK, 7-Jan-2014
The hole in Bitcoin
We've yet to see a grounding in the technology and economics of Bitcoin that a layperson can grasp, so this is our explanation of what all the fuss is about, and why you are looking at one big, US$2.6bn, 275 megawatt bubble that will likely go to zero. Even if it succeeds in becoming an accepted transaction currency, there is a second flaw that will destroy its original purpose. (4-Nov-2013)

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