81–90 of 511 posts
Earlier quoted context omitted.
You can't transfer a billion dollars worth of cash by sending an email with your private key.
If you have a billion dollars to hold, you don't want the volatility that could turn it into a hundred million, or ten billion in a few weeks, just because. Also, holding a billion dollars in a form protected by a single private key is effectively putting a billion-dollar bounty on your own head.
> U.S. Treasury Secretary Janet Yellen and other officials have warned about the use of cryptocurrencies for illicit transactions. Wait until you hear about cash. More seriously (and hopefully less reductionist) i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures. I am more confident that nations which turn their back on it, or shut it out completely, will see a loss of o…
What business opportunities have been created outside of the crypto space?
> i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures.
They may also leave themselves open to these currencies being manipulated by foreign mal-actors
Earlier quoted context omitted.
CHF still has 1k banknote (and with negative interest rates this with a safe might be a better option than a bank account).
Hows that better than a bank account? You can hold CHF on a bank account as well and it keeps the same value as the note. (both lose value due to inflation) Also dont forget insurance for banknotes in a safe.
GP said it, negative interest rate, i.e. the bank charging you to hold on to your money when you have more than a certain amount (was it 100k or 25k CHF).
So if you put in 100k in the bank and wait a year, you'll be able to withdraw maybe 99.8k CHF. If you hoard 100x 1000 CHF notes, you'll still have 100k CHF. Sure in 1 year those 100k CHF will probably buy less Big Macs then the present, but the 200 CHF loss will mean even less Big Macs.
Instead of killing it by banning it, I suspect they could kill it by buying it. If the Fed wanted to "invest" in Bitcoin, it would kill it by soaking up liquidity and creating a liquidity-squeeze. Because the amount in circulation is fixed, it wouldn't have to buy all of the Bitcoin -- just enough to kill any utility. This is a downside of an asset with a fixed quantity. Once the community discovered the liquidity-sq…
I think this is pretty obvious and even mentioned this is a previous comment a few weeks ago. The US government has been saying that crypto is funding terrorism and money laundering. If you can’t read the writing on the wall then that’s your fault.
What terrorism? Since 9/11, there have been only two major Islamic terrorism incidents on US soil. The Boston Marathon bombing was by two brothers, and the San Bernardino shooting was a husband and wife team. Both were low-budget operations. Even 9/11 is estimated to have cost the attackers only about $400K. What costs is setting up an full-sized army, like ISIS.
I see a lot of misconceptions about scams and pump and dump schemes carried over from the 2017 run, and complete neglect of the innovations created since.
If anyone wants a refresher, I'm always willing to chat. I will also write a primer to help get folks up to speed on what's the latest in crypto.
This is exactly why i love projects like MobileCoin and its integration in Signal. We are going to desperately need anonymous, secure and privacy focused payments very very soon. Signal needs to open up payments worldwide as soon as possible. The last problem to fix is making it all decentralized.
> U.S. Treasury Secretary Janet Yellen and other officials have warned about the use of cryptocurrencies for illicit transactions. Wait until you hear about cash. More seriously (and hopefully less reductionist) i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures. I am more confident that nations which turn their back on it, or shut it out completely, will see a loss of o…
>Whatever your stance on cryptocurrencies are, what is of little dispute is the business opportunities they have created. Binance and Coinbase are large, successful companies. What business opportunities have been created outside of the crypto space? > i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures. They may also leave themselves open to these currencies being manipu…
> U.S. Treasury Secretary Janet Yellen and other officials have warned about the use of cryptocurrencies for illicit transactions. Wait until you hear about cash. More seriously (and hopefully less reductionist) i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures. I am more confident that nations which turn their back on it, or shut it out completely, will see a loss of o…
> Wait until you hear about cash. anecdote time: I once travelled to Vietnam for a vacation, people in vietnam prefer $100 bills because they're easier to use for hiding wealth, transporting cross border, and other slightly less than legal reasons. Additionally it's the preferred currency of criminals in the country too (so I heard). They will even pay higher exchange rates for ones in better condition or with more a…
Deposited/electronic money tends to be necessary when you hit a million plus. At that point cash sucks and is super risky to hold.
Bitcoin will never be regulated.