The cryptocurrency market means different things to different people. To many, it represents an object of naked speculation, which consumes almost all the media coverage about the space. For these people, Wednesday was a bad day, with the Bloomberg Galaxy Crypto Index plunging 19.2% in its worst slide in more than a year. But to others, the crypto space is more than speculative instruments. It is the construction of a new financial system. For them, Wednesday was a huge win that might go down as one of the best days in crypto history. Under extreme stress, the system worked as designed. Yes, problems were uncovered, such as high fees to trade at the most volatile moments. But this is a known problem because the crypto platforms are running at 100% capacity. Solutions to add more capacity and efficiency have been in the works for months and should be operational by year-end. To understand why I believe Wednesday was a big victory for crypto, separate the space into its two main categories: centralized and decentralized finance.
Read the whole thing. Elon Musk's Bitcoin Fun Continues — Matt Levine Sexy Tea, the Lion King and Taiwan's Lost Innocence — Tim Culpan Elon Musk, Chamath Palihapitiya and Cathie Wood Face a Reddit Reckoning — Chris Bryant Blood Clots Aren't the Only Vaccine Side Effects Worth Studying — Faye Flam Singapore's Lockdown Is Both Blunt and Precise — Daniel Moss The Battle for a $15 Minimum Wage Is Already Won — Noah Smith China's Land Grab in Bhutan Is the New Face of War — Hal Brands Can Trump Outmaneuver New York's Criminal Probes? — Timothy L. O'Brien The Strongest Sign Yet That Inflation Is Transitory — Conor Sen This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion published this week based on web readership. | 
★↠∺〖@NetFlix!〗 2020 Este cuerpo me sienta de muerte Película Completa En Línea released 2020. story: Tras intercambiar su cuerpo con un as...
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