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Goldman Sachs Report Explores Use of Bitcoin as Currency

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Re: Goldman Sachs Report Explores Use of Bitcoin as Currency

#41

Post by gb123 »

JohnJamesRambo wrote: post #14

Bitcoin is not remotely usable as a currency now. The fees are incredible, the confirmation times ridiculous. We need to move on to something more modern like Ethereum, Stellar Lumens, etc. immediately. Asking the current 1 mb blocksize version of Bitcoin to be a currency is like Goldman Sachs writing a report saying they want to run their website on Intel 486 processors. They mention Zimbabwe moving to it as an alte…

Raiblocks has potential to be a good currency, but like any other crypto when will people stop holding and start spending. https://github.com/clemahieu/raiblocks

Re: Goldman Sachs Report Explores Use of Bitcoin as Currency

#42

Post by EpicEng »

ThomPete wrote: post #31
JohnJamesRambo wrote: post #14

Bitcoin is not remotely usable as a currency now. The fees are incredible, the confirmation times ridiculous. We need to move on to something more modern like Ethereum, Stellar Lumens, etc. immediately. Asking the current 1 mb blocksize version of Bitcoin to be a currency is like Goldman Sachs writing a report saying they want to run their website on Intel 486 processors. They mention Zimbabwe moving to it as an alte…

Western Union is up there I think. So at least for remittance it might make sense. Anyway I agree that Bitcoin probably won't be used as a currency but more like gold. Perhaps it will be used to back some way cheaper transaction method.

> more like gold

But without that nifty property of intrinsic value.

Re: Goldman Sachs Report Explores Use of Bitcoin as Currency

#43

Post by aaron-lebo »

gb123 wrote: post #41
JohnJamesRambo wrote: post #14

Bitcoin is not remotely usable as a currency now. The fees are incredible, the confirmation times ridiculous. We need to move on to something more modern like Ethereum, Stellar Lumens, etc. immediately. Asking the current 1 mb blocksize version of Bitcoin to be a currency is like Goldman Sachs writing a report saying they want to run their website on Intel 486 processors. They mention Zimbabwe moving to it as an alte…

Raiblocks has potential to be a good currency, but like any other crypto when will people stop holding and start spending. https://github.com/clemahieu/raiblocks

No offense, but could you and the other people mentioning other chains in subthreads not do that? These threads just turn into ad pages and nobody has the ability to know what advice is valuable and what is just shilling.

These claims have been made about every altcoin/feature since 2009. There's too much baseless hype. You guys want me to buy Raiblocks, Plasma, or Omise Go? Are you sure the devs know what they are doing and why?

Is anyone still holding Mazacoin?

Re: Goldman Sachs Report Explores Use of Bitcoin as Currency

#44

Post by EpicEng »

adamnemecek wrote: post #9
wmf wrote: post #4

Has the Bitcoin crash of 2013 already been forgotten? It's totally irresponsible to use such a volatile asset as currency.

Bitcoin in 2018 is not the same bitcoin in 2013.

Right, it's even more volatile with higher transaction fees!

Re: Goldman Sachs Report Explores Use of Bitcoin as Currency

#46

Post by mrtest002 »

JohnJamesRambo wrote: post #14

Bitcoin is not remotely usable as a currency now. The fees are incredible, the confirmation times ridiculous. We need to move on to something more modern like Ethereum, Stellar Lumens, etc. immediately. Asking the current 1 mb blocksize version of Bitcoin to be a currency is like Goldman Sachs writing a report saying they want to run their website on Intel 486 processors. They mention Zimbabwe moving to it as an alte…

I agree BTC is unusable as a currency due to high fees - however, Bitcoin Cash has low fees and because it is dedicated to on-chain scaling, it will continue having low fees as demand for blockspace increases.

Re: Goldman Sachs Report Explores Use of Bitcoin as Currency

#47

Post by jv22222 »

aaron-lebo wrote: post #43
gb123 wrote: post #41

Earlier quoted context omitted.

Raiblocks has potential to be a good currency, but like any other crypto when will people stop holding and start spending. https://github.com/clemahieu/raiblocks

No offense, but could you and the other people mentioning other chains in subthreads not do that? These threads just turn into ad pages and nobody has the ability to know what advice is valuable and what is just shilling. These claims have been made about every altcoin/feature since 2009. There's too much baseless hype. You guys want me to buy Raiblocks, Plasma, or Omise Go? Are you sure the devs know what they are d…

Plasma isn’t a coin it’s an open source blockchain scaling solution . The Omise Go network is an open (not owned by anyone) decentralized value exchange network.

Re: Goldman Sachs Report Explores Use of Bitcoin as Currency

#48

Post by rhlala »

aaron-lebo wrote: post #43
gb123 wrote: post #41

Earlier quoted context omitted.

Raiblocks has potential to be a good currency, but like any other crypto when will people stop holding and start spending. https://github.com/clemahieu/raiblocks

No offense, but could you and the other people mentioning other chains in subthreads not do that? These threads just turn into ad pages and nobody has the ability to know what advice is valuable and what is just shilling. These claims have been made about every altcoin/feature since 2009. There's too much baseless hype. You guys want me to buy Raiblocks, Plasma, or Omise Go? Are you sure the devs know what they are d…

He should have explain that raiblock have no fees and transfers are instantaneous. Even if all humans of the world use it. That is not advertising , but show one solution to the scalability problem.

Re: Goldman Sachs Report Explores Use of Bitcoin as Currency

#49

Post by adamnemecek »

jklein11 wrote: post #37
adamnemecek wrote: post #19

Earlier quoted context omitted.

Bitcoin is a portal, not a coin you'd use for actual exchanging.

Can you elaborate on this? In what way is it any more of a portal than government issued fiat? Is it because the infrastructure is more robust because it has been around the block longer? Is there some other technical detail that makes it exceptionally good at being a portal?

It's a portal to crypto I meant. You buy bitcoin to buy other currencies.

Re: Goldman Sachs Report Explores Use of Bitcoin as Currency

#50

Post by bobwaycott »

EpicEng wrote: post #42
ThomPete wrote: post #31

Earlier quoted context omitted.

Western Union is up there I think. So at least for remittance it might make sense. Anyway I agree that Bitcoin probably won't be used as a currency but more like gold. Perhaps it will be used to back some way cheaper transaction method.

> more like gold But without that nifty property of intrinsic value.

There is no intrinsic value in gold. Or any other thing. The only value things have are the exchange and use values humans imbue them with.
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