31–40 of 219 posts
Unfortunately Bloomberg as a whole doesn't know anything about cryptocurrency beyond the speculation side which is similar to their existing competencies. But that's all they see.
We have a blind man feeling an elephant's ass and telling us it's shitty. While true, it only describes a tiny part of what cryptocurrencies are or do.
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So illegal transactions and money laundering it is.
Iunno, if i were a billionaire, the idea of having $50m under nobody’s control but my own that I can take anywhere, anytime, doesn’t exist anywhere else. I can’t do that with gold. Bank deposits are always available until they aren’t. But Coinbase can’t do this either.
Bitcoin and similars are the biggest waste of computing power and energy in the history of the planet. It will be nice for the environment when this is all over.
Quite the claim. Obviously you haven't heard of the NSA or the US Military.
Nationstate backed fiat currencies require enormous amounts of energy waste in the form of standing armies and other tools of power. Compared to the energy Bitcoin uses to protect itself from attack or fraud this energy is very large.
Yea, Paul Krugman has been saying "Bitcoin is doomed" since 2012. He'll always be wrong because this is all politically motivated. The banking and political establishment are scared shitless by alternative currencies, crypto or otherwise. Google the "Liberty Dollar". Mouth pieces for the financial industry like Bloomberg will attack alternatives to the petrodollar no matter what they really think, and obviously they know Bitcoin has a future because Goldman-Sachs has bought tons of them.
Bloomberg absolutely loves writing these "Anything not a central bank is on the brink of implosion" scare articles. They must generate a tons of views. Unfortunately Bloomberg as a whole doesn't know anything about cryptocurrency beyond the speculation side which is similar to their existing competencies. But that's all they see. We have a blind man feeling an elephant's ass and telling us it's shitty. While true, it…
They don't know anything? Even though they partnered with Mike Novogratz to create an index?
https://www.bloomberg.com/professional/product/indices/bloom...
An important harbinger of trouble to come is that the Tether (USDT) coin, which is supposed to be pegged 1:1 to USD, is now trading substantially below $1: https://www.bloomberg.com/news/articles/2018-10-15/dollar-pe... Billions of Tethers were printed seemingly out of thin air and used to purchase Bitcoin. It's part of the foundation of the house of cards that keeps Bitcoin at its current price: "Despite their modes…
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Iunno, if i were a billionaire, the idea of having $50m under nobody’s control but my own that I can take anywhere, anytime, doesn’t exist anywhere else. I can’t do that with gold. Bank deposits are always available until they aren’t. But Coinbase can’t do this either.
Right, that's money laundering.
In general, if you pick the all time high as a starting point for your "research" it's all the way down from there. Bitcoin's daily transaction volume is moving to second layer so the metric used is not very useful. More importantly, and I can't stress this enough, the FX value of a cryptocurrency is not directly related to the project's status (developer activity or security track record, etc) but it is correlated t…
sounds like woo to me
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I saw a couple of comments today about the price of USDT so I think it's worth while explaining how it works just in case anyone is interested in knowing more. USDT is a pegged-currency. It's often described as a stablecoin but that's not correct because it doesn't have an inbuilt stabilisation mechanism unlike Maker's DAI for instance. The way it works is purely based on well known legal mechanisms that have no cryp…
Do you know if any tethers have ever been destroyed? I have not seen it confirmed that this has occurred and if people were withdrawing to the dollar via USDT I would expect there to have been destructions.