31–40 of 310 posts
I'm sorry but this is so absurd. They are doing the equivalent of printing their own monopoly money in the garage and then selling it for real currency... dollars.
Pretty much what the central banks are doing around the world.
These crypto coin bubbles can't pop soon enough.
The problem is they will pop, and then come back. They are like a resilient strain of disease. Each time people lose faith in them they develop new ideas and arguments for why they are the future. They aren't the future, they are deeply flawed ponzi-schemes, this is obvious. But we better find out what the future is before they start converting the gullible masses to a currency that is less secure in many ways that i…
You mean just like after the 1929 stock market crash we just improved stock trading? Or after dotcom crash we became more serious about evaluating usefulness of services? Or after various mortgage issues we introduced controls for known issues?
I feel like it's similar to any other huge system. There are issues with it. We prevent some behaviours and provide incentives for others. We don't lose faith in stock market and burn it to the ground.
I'm sorry but this is so absurd. They are doing the equivalent of printing their own monopoly money in the garage and then selling it for real currency... dollars.
Obviously valuations have far outpaced the present usefulness of these technologies, but because the pie is so enormous it would be irrational not to overpay. Right now prices are too out-of-whack with reality so it's inevitable that there will be a correction, but it's entirely understandable why this is happening.
It's sad though that most people on HN have now apparently become the older generation representing the entrenched interests, rather than being the disruptors.
I'm sorry but this is so absurd. They are doing the equivalent of printing their own monopoly money in the garage and then selling it for real currency... dollars.
Would they be saving on transaction costs?
I believe most of the money that is ending up in Bitcoin exchanges is laundered in the first place. Also, there is a whole lot more that is getting laundered everyday than Bitcoin being mined. That would mean Bitcoin will keep going up in value. Gold should correspondingly fall.
Anyone have a resource on the technical aspect of this? Seems like these businesses create their own cryptocurrency? Or build it on top of Ether?
You can get a code template from here:
Would it make sense for companies like Amazon or Alibaba to print their own currencies when they are in the business of selling everything under the sun? Would they be saving on transaction costs? I believe most of the money that is ending up in Bitcoin exchanges is laundered in the first place. Also, there is a whole lot more that is getting laundered everyday than Bitcoin being mined. That would mean Bitcoin will k…
Do you have any evidence for that because I'd say that is almost certainly blatantly false.
I'm sorry but this is so absurd. They are doing the equivalent of printing their own monopoly money in the garage and then selling it for real currency... dollars.
Blockchain is perhaps the most economically important invention of the last 500 years. Right now the whole space is worth less than $100B, and it's going to be worth tens or hundreds of trillions of dollars. Obviously valuations have far outpaced the present usefulness of these technologies, but because the pie is so enormous it would be irrational not to overpay. Right now prices are too out-of-whack with reality so…
I'm sorry but this is so absurd. They are doing the equivalent of printing their own monopoly money in the garage and then selling it for real currency... dollars.
Blockchain is perhaps the most economically important invention of the last 500 years. Right now the whole space is worth less than $100B, and it's going to be worth tens or hundreds of trillions of dollars. Obviously valuations have far outpaced the present usefulness of these technologies, but because the pie is so enormous it would be irrational not to overpay. Right now prices are too out-of-whack with reality so…