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Father of C++ Bjarne Stroustrup on Bitcoin: Some Things I Wish People Wouldn't Do

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  • Vladislav Sopov
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    In a recent interview with Lex Fridman's Artificial Intelligence Podcast, C++ creator deeply regrets some use cases of its brainchild, primarily - Bitcoin.

Father of C++ Bjarne Stroustrup on Bitcoin: Some Things I Wish People Wouldn't Do
Cover image via habr.com

Great technological revolutionaries have often been criticized not for their inventions, but for the ways people managed to utilize them. Danish computer scientist Bjarne Stroustrup, who's known for creating the C++ programming language, mentioned the first cryptocurrency as an example of such misuse.

The Userbase You Can't Control

On November 7, 2019, Lex Fridman interviewed Bjarne Stroustrup for his Artificial Intelligence podcast series. During the interview, Mr. Stoustrup told the audience about the differences between the design of languages in 'platonic' sense. When Mr. Fridman asked him about the use cases, the C++ father expressed skepticism:

Let me say it this way. When you build the tool, you don't know how it's gone to be used. You try to improve the tool looking on how it's being used but (...) really you have no control on how the thing is used. So, I'm very happy and proud of some things C++ is being used at and some other things I wish people wouldn't do. Bitcoin mining be my favourite example. It uses as much energy as Switzerland and mostly serves criminals.

In short, Bjarne Stroustrup appeared to be critical of cryptocurrencies in two areas - massive electricity consumption and illegal transactions.

Reasonable Concerns

According to some studies, approximately 25 per cent of Bitcoin (BTC) users and nearly half of all BTC transactions have been associated with illegal activities. Each year, BTC makes up about $72 billion in unlawful activity, putting the market volume on par with drug trafficking in Europe.

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This year, the BTC Network utilized approximately 7 GigaWatts of electricity, or about 0.21 per cent of world supply. This has even forced  some legislatures to charge BTC miners with some of the highest electricity rates.

Is Mr. Stroustrup right when it comes to individuals using C++ for Bitcoin? Share your opinion with us on Twitter!

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Bitcoin Massacre: $180 Mln Worth of BTC Longs Liquidated on BitMEX

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  • Alex Dovbnya
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    A massive amount of long positions gets liquidated on the BitMEX exchange after the Bitcoin price tanked all the way down to $7,350

Bitcoin Massacre: $180 Mln Worth of BTC Longs Liquidated on BitMEX
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

$179.3 mln worth of longs has been liquidated on BitMEX, the leading derivatives exchange, after the Bitcoin price shockingly dropped to $7,350 (compared to spot exchanges where BTC didn't go below $7,500). Considering that the average leverage is 25x, Bitcoin bulls collectively netted a loss of around $6.4 mln.         

One of the top traders on BitMEX, who felt "long and strong" at the $8,000 level, most probably regrets his recent tweet.     

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This string of bloody-red candles opens a possibility for a further drop to below $7,000, which has been the pipe dream of Bitcoin bears ever since the BTC price blasted past this level back in May.   

At the time of writing, the top coin by market capitalization is sitting at $7,581 with no sings of buying pressure, CoinStats data shows.  

Trader "The Wolf of Wall Street" says that the retail interest in Bitcoin has been slowing down in November (based on the number of addresses with balances less than 0.1 BTC). Hence, it is unlikely that the average Joe will start FOMOing in anytime soon.      

Dutch analyst "Plan B" didn't cave in to bearish sentiment. He says that the positive difficulty adjustment prevented the much-feared miner capitulation, and the BTC price could increase from that point. 

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As reported by U.Today, the Bitcoin price could still nose-dive by 40 percent based on the BitMEX funding rate

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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