Letters to the Editor

 
Readers of City A.M.

Future of Bitcoin

[Re: Why Cyprus’s Bitcoin ATM is unlikely to take off, Thursday]

It’s not important that the Cyprus Bitcoin ATM won’t work. What’s important is that Bitcoin is looking like it will become the future of money, and could make other currencies obsolete. You can send money almost instantly, nearly anonymously, to anyone in the world, and it can’t be intercepted, stopped or taxed. It’s also backed by Blockchain, which is a historical record of all transactions and issuance. This is maintained by the most powerful computer network in existence, and performs 50 million million encryptions per second. Expect the value of Bitcoins to rise and rise in value over the next few years.

Andrew Murphy

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Welfare reform

[Re: The best we can hope for is years of weak economic growth, yesterday]

You’re right that welfare reform is popular. It’s also such a binary issue that Labour’s supposedly clever attacks on a few details of a massive welfare reform package are doomed to fail. A bedroom tax? Everyone knows that it’s not taxation if you’re taking away something that’s been freely given. But what this week’s hysterical headlines have really shown is that the Left will stop at nothing to wheel out the few people who will be worse off from any change to the failed system it’s created. What it will never do is point out the many millions who will do better over the long term because brave decisions were made now.

Adrian Cooper

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BEST OF TWITTER

Labour continues to support an out of control welfare state that has cost the taxpayer so much and wasted such human potential.
@tomchapman16

Way to think about spare room subsidy: if it didn’t exist, would anyone think it was a good idea to introduce it? #bedroomtax
@RyanCPS

Eurozone unemployment is at a record high. This is unsustainable and extremely dangerous – a powder keg.
@NDungan

So Cypriot finance minister Sarris lasted for a full (dreadful) five weeks in his job. A new Eurozone record?
@matsJpersson