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Monday, April 28, 2025

From Bitcoin to Stablecoin: Crypto's history is a house of cards - Washington Post - The Washington Post

Few words outside of politics polarize more than cryptocurrency.
Crypto is among the most urgent of current tech topics, driven by billions of cryptocurrency trades weekly — bitcoin and so many others — and a cultural stigma perhaps unseen in finance since the days of the Wall Street wolves of the 1980s. Almost since its creation, crypto has been characterized by sudden wealth creation, surprise hacks, big scams, bold promises and shattered dreams.
And the craziest part is no one can say what this blackjack table will turn up next. Welcome to crypto’s house of cards.
A tech is born
A mysterious figure named Satoshi Nakamoto sends 10 “bitcoins” to the cryptographer Hal Finney, and a world is unleashed.
Nakamoto — who had previously written a white paper explaining the underlying complex technology — believes the computer-based asset he’s created is far preferable to the traditional banking system, which is under massive strain from the financial crisis just several months earlier....



Read Full Story: https://www.washingtonpost.com/technology/interactive/2022/crypto-exchange-bi...

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