It’s Everything Or Nothing

“The ascent of money has been essential to the ascent of man.” - Niall Ferguson in The Ascent of Money: A Financial History of the World As human civilisation progressed from barter deals to paper tenders and then to online transactions, we moved towards binary wealth. We evolved in sync with the evolution of money and reached the age of cryptocurrencies. The death of a young chief executive of a Canadian cryptocurrency exchange cost his clients $250 million simply because his password could not be cracked. Gerald W Cotten did not share with anyone the access to his offline folder where he had stashed the investors’ money to fend off pirates. At the end of a long fight to recover their money, the investors had to accept the loss. There was none to redress their grievance. Welcome to the unbound and unregulated wild world of cryptocurrency where fate hangs in a fine...