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The seven deadly paradoxes of cryptoassets

On one hand cryptoassets are losing value but there are still fat margins to be made by providing trading infrastructure (eg exchanges) for people looking for a bit of fun.

The author of this article is taking a longer term view about crypto: Will people in 2030 buy goods, get mortgages or hold their pension pots in bitcoin, ethereum or ripple rather than central bank issued currencies? I doubt it.  Existing private cryptocurrencies do not seriously threaten traditional monies because they are afflicted by multiple internal contradictions. They are hard to scale, are expensive to store, cumbersome to maintain, tricky for holders to liquidate, almost worthless in theory, and boxed in by their anonymity. And if newer cryptocurrencies ever emerge to solve these problems, that’s additional downside news for the value of existing ones.

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A trough back to my trading platform days…

What happened was truly a black swan as I can assume algo after algo saw their EURCHF 1.1999 stops hit, and moments thereafter the EURCHF pair crashed to less then 0.75, margining out virtually every single long EURCHF position, before finally rebounding to a level just above 1.00, which is where it was trading just before the Swiss National Bank instituted the currency floor over three years ago.

Over two decades ago, George Soros took on the Bank of England, and won. The SNB took on virtually every single macro hedge fund, the vast majority of which were short the Swiss Franc and crushed them…

Central Banks 1 : Hedge Funds 1