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I’d be very surprised if Visa can clear transactions with less energy than Ethereum Proof of Stake requires. https://ethereum.org/en/energy-consumption/ The energy argument is correct for proof of work, not proof of stake.
Bit odd to see the comparison of ethereum to YouTube and netflix. What is that supposed to show?
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Hong Kong may not be a great place to invest long term given that China has a far more precarious legal system and is willing to override Hong Kong’s on a whim.
For a technology that seeks to replace the legal & financial system, this is the perfect place to invest. It's like how Uber couldn't have gotten started anywhere other than SF, because the transportation system there is so bad that people will hop into cars with strangers instead. You don't found a startup in places where your competition is strong, you found it in places where it's nonexistent.
The legal system also exists; it’s British-descended common law unless the CCP decides to use its authoritarian instinct.
Can't decentralized exchanges be completely anonymous? If a user sends some ETH to an adress and on some Bitcoin address a balance shows up - how would the SEC want to regulate that? Let alone exchanges that are just a contract on Ethereum and only exchange tokens on the Etherum blockchain. What is the SEC going to do about those? And what would happen if some country in the world tokenizes their property. Say a cert…
Dealing in cash means managing some sort of bank or brokerage account, which falls under federal purview.
Meanwhile Hong Kong is rolling out the the red carpet https://www.wsj.com/articles/hong-kong-banks-are-netting-cry... The crypto industry is extremely adept at moving across borders, and as power politics between nations dictate different priorities, crypto will make its home base where ever the doors open. Right now China and Russia are in a West vs. East struggle, and anything they can do to reduce the power of the…
Since Russia has lots of energy, maybe they can use it to settle transactions? Meanwhile Visa keeps on clearing incomparably more (by “several orders of magnitude”) encrypted transactions per second globally for miniscule energy?
Earlier quoted context omitted.
Since Russia has lots of energy, maybe they can use it to settle transactions? Meanwhile Visa keeps on clearing incomparably more (by “several orders of magnitude”) encrypted transactions per second globally for miniscule energy?
I’d be very surprised if Visa can clear transactions with less energy than Ethereum Proof of Stake requires. https://ethereum.org/en/energy-consumption/ The energy argument is correct for proof of work, not proof of stake.
Can't decentralized exchanges be completely anonymous? If a user sends some ETH to an adress and on some Bitcoin address a balance shows up - how would the SEC want to regulate that? Let alone exchanges that are just a contract on Ethereum and only exchange tokens on the Etherum blockchain. What is the SEC going to do about those? And what would happen if some country in the world tokenizes their property. Say a cert…
Not really, because the major service that exchanges provide is to convert between crypto and cash. The tremendous growth seen in the industry over the last few years was fueled by an influx of cash into the crypto markets by way of exchanges. Dealing in cash means managing some sort of bank or brokerage account, which falls under federal purview.
Earlier quoted context omitted.
I’d be very surprised if Visa can clear transactions with less energy than Ethereum Proof of Stake requires. https://ethereum.org/en/energy-consumption/ The energy argument is correct for proof of work, not proof of stake.
I don't think energy consumption was ever actually a virtue of the people who complained about it. It was just a means to an end for curbing crypto and it's grifts.
Anyway, that was the concern. It contrasts with the fee set by percentage of transaction size used by Visa.
Earlier quoted context omitted.
Since Russia has lots of energy, maybe they can use it to settle transactions? Meanwhile Visa keeps on clearing incomparably more (by “several orders of magnitude”) encrypted transactions per second globally for miniscule energy?
I’d be very surprised if Visa can clear transactions with less energy than Ethereum Proof of Stake requires. https://ethereum.org/en/energy-consumption/ The energy argument is correct for proof of work, not proof of stake.
From your own link, PoS Ethereum is 1/30,000 the energy cost of PoW Ethereum. From this link (https://arxiv.org/pdf/2203.03717.pdf ), back in 2021 PoW Ethereum spent 125.36 kWh per transaction, while VISA spent 0.0015 kWh, an 83 thousand fold difference. Depending on how these numbers all shake out VISA is still superior to PoS Ethereum by about 2-3X per transaction.
Can't decentralized exchanges be completely anonymous? If a user sends some ETH to an adress and on some Bitcoin address a balance shows up - how would the SEC want to regulate that? Let alone exchanges that are just a contract on Ethereum and only exchange tokens on the Etherum blockchain. What is the SEC going to do about those? And what would happen if some country in the world tokenizes their property. Say a cert…
Not really, because the major service that exchanges provide is to convert between crypto and cash. The tremendous growth seen in the industry over the last few years was fueled by an influx of cash into the crypto markets by way of exchanges. Dealing in cash means managing some sort of bank or brokerage account, which falls under federal purview.
Earlier quoted context omitted.
Not really, because the major service that exchanges provide is to convert between crypto and cash. The tremendous growth seen in the industry over the last few years was fueled by an influx of cash into the crypto markets by way of exchanges. Dealing in cash means managing some sort of bank or brokerage account, which falls under federal purview.
Decentralized exchanges are... exactly not that. They only trade on-chain assets for on-chain assets. Fiat ramps are not part of what makes a decentralized exchange.