81–90 of 312 posts
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Bitcoin was some neat tech. But, in case you haven’t noticed it’s been taken over by finance bros. Now, it’s just a scam to prey on the poor and ignorant.
Wait until you hear about fiat currencies.
What would happen to crypto values if the number of miners decreased significantly? Increased significantly?
Nothing much honestly. Mining in Bitcoin (and the other cryptos) adapter to the amount of miners, and will still produce a similar amount of coins and work as normal. Sure, there are extreme cases like if a very significant amount of miners would suddenly stop, then the blocks would come in at a much reduced rate until the algorithm adapts itself. And if too many stops mining though, then the chain becomes too easy t…
The following reply to this question makes it sound pretty dire:
Assuming crypto is or becomes a systemic risk to the world economy, anyone predict what happens in the event of a crash? I suspect bailing crypto speculators out will be relatively unpalatable.
Regulation will happen. Some Crypto people may believe that they are immune to the governments of the world but they really aren't. Whoever can kick down your door has the ability to make some rules and especially after a significant economic crash rules will be demanded. Since crypto doesn't do anything fundamentally new I predict that most of those rules will look like current financial laws "but on the blockchain"…
I’m blown away by how anti-crypto this discussion is. I hadn’t realized how negative the prevailing sentiment is on Hacker News. One argument seems to be that cryptocurrency is purely speculative, which is apparently a dirty word. What about the stock market? What about any kind of investment? If you truly believe that cryptocurrency is the basis for a superior economic system, isn’t it rational and wise to put some…
>What about the stock market? What about any kind of investment? You mean the kind that pay dividends?
It's also theoretically possible for some of the crypto-token-organisation things to pay dividends, but it's far more common for them to simply take the money and run. Because a token is not a legal framework like a company is.
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>What about the stock market? What about any kind of investment? You mean the kind that pay dividends?
What percentage of stocks pay dividends?
https://www.nerdwallet.com/article/investing/how-to-invest-d...
> safeguarding the integrity of the nation’s economy Without question crypto, now +2 trillion in market cap, is a systemic risk to the US economy, notwithstanding serious policy mistakes the Congress, Treasury & the Fed have made since QE1. I'm hoping USSS and other entities cleans house. USDT fully diluted market cap is about equal to that of PNC Bank, America's 7th largest bank. If PNC Bank's reserves and market ac…
How is crypto a systemic risk? From my recollection of the 2008/09 financial crisis, systemic risks were those in which entities were deeply intertwined with one another on a massive scale, such that there failure would potentially bring down the entire system of finance. We're talking: retail banking (payments, savings, lending), commercial banking (idk?), public debt markets (bigco and gov funding), but most especi…
> safeguarding the integrity of the nation’s economy Without question crypto, now +2 trillion in market cap, is a systemic risk to the US economy, notwithstanding serious policy mistakes the Congress, Treasury & the Fed have made since QE1. I'm hoping USSS and other entities cleans house. USDT fully diluted market cap is about equal to that of PNC Bank, America's 7th largest bank. If PNC Bank's reserves and market ac…
How is crypto a systemic risk? From my recollection of the 2008/09 financial crisis, systemic risks were those in which entities were deeply intertwined with one another on a massive scale, such that there failure would potentially bring down the entire system of finance. We're talking: retail banking (payments, savings, lending), commercial banking (idk?), public debt markets (bigco and gov funding), but most especi…
I’m blown away by how anti-crypto this discussion is. I hadn’t realized how negative the prevailing sentiment is on Hacker News. One argument seems to be that cryptocurrency is purely speculative, which is apparently a dirty word. What about the stock market? What about any kind of investment? If you truly believe that cryptocurrency is the basis for a superior economic system, isn’t it rational and wise to put some…
> One argument seems to be that cryptocurrency is purely speculative, which is apparently a dirty word. What about the stock market? What about any kind of investment? I recommend not using the "what about the stock market?" tactic to defend cryptocurrencies. Crypto is more speculative than the stock market because companies have physical assets, ongoing revenue and profits, dividends that they pay out to their share…
Exactly!
If Uber ever shuts down for any reason, they can take all of their vehicles, buildings, gold, and whatever else they own, and evenly distribute them for all shareholders!
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> market cap is about equal to that of PNC Bank, America's 7th largest bank. PNC Market cap, or assets they hold? A currency is not the same as the bank that holds it. Also, how big is PNC compared to #1?
A flea buzzing around the ankles of the big 4 giants. A bank’s assets include the amount in customers’ deposit accounts, as well as loans, mortgages and credit card accounts. Some of these banks have thousands of branches, while others are mostly, or exclusively, online. All of these banks are FDIC insured. 7. PNC Bank: $4.49B As of July 2021, PNC Bank acquired BBVA USA and is transitioning customers and accounts. In…
Perhaps grandparent's comparison of USDT market cap to the total value of the Financial Services Group stock is peculiar, but let's use correct numbers in the discussion. The grandparent comment refers to USDT market cap, which is ~$80B USD. That's roughly equivalent to PNC Financial Services Group ("PNC" on NYSE) market cap of ~$85B. JPMorgan Chase ("JPM" on NYSE) market cap is ~$450B USD.
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> One argument seems to be that cryptocurrency is purely speculative, which is apparently a dirty word. What about the stock market? What about any kind of investment? I recommend not using the "what about the stock market?" tactic to defend cryptocurrencies. Crypto is more speculative than the stock market because companies have physical assets, ongoing revenue and profits, dividends that they pay out to their share…
Bitcoin is anchored in physics and math. And used by millions without western privileges.