CEO of a top Bitcoin exchange warns: crackdown on cryptocurrencies may be coming

Post by beambot » Mon, Apr 12, 2021, 10:53 PM UTC

graeme wrote: post #226

cslarson wrote: post #205

Earlier quoted context omitted.

How can you not see what the importance of this new infrastructure? I come here and read these comments and am just at a loss for words at this point. Forget Bitcoin and look at Ethereum. This tech is so powerful I am in some ways scared of it and you call it a fad. The gulf between our interpretations drops my jaw to the floor :)

Can you name some use cases that aren’t trading crypto derivatives or crypto debt? Ethereum is certainly more interesting than Bitcoin but the use cases so far seem to be more speculation.

Post by bko » Mon, Apr 12, 2021, 10:56 PM UTC

arcticbull wrote: post #274

bko wrote: post #271

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The first use of gold as an exchange was 550 BC. Our fiat money has been around since the 1970s with staggering blowups Come back to me on 2500 years and we'll see who has the better track record.

Generally speaking we don't need to wait as long as the previous iteration existed to prove the new generation is successful. For instance, I think it's fair to say e-mail is a success, even though the first postal system was established under Cryus the Great in 550 BCE in Persia. The first e-mail was sent in 1971. Are you saying we won't be able to declare victory on e-mail until the year 4492?

Post by tom-_- » Mon, Apr 12, 2021, 10:59 PM UTC

puranjay wrote: post #135

liquidise wrote: post #4

> 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…

Crypto maximalists - and I know a LOT of them - are drawn to crypto because of ideology, not just the money. The idea that a person should own his/her own assets, be able to share and use them whenever they want, and be free from government censorship and foolhardy economic stewardship is incredibly powerful. When governments talk about banning crypto, what scares them isn't crypto; it's this ideology. And this ideol…

Post by iorrus » Mon, Apr 12, 2021, 11:01 PM UTC

Post by MomoXenosaga » Mon, Apr 12, 2021, 11:03 PM UTC

craig131 wrote: post #320

kelnos wrote: post #109

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> 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. Poloniex was sold for ~400M. I find this argument a little weird, because I think we can all agree that bubbles and fad tech isn't really great for society as a whole. If you believe cryptocurrencies aren't a fad and actually provide useful be…

I admire that controversial opinion, but would you really be comfortable with a federal authority telling you which software on your computer is "great for society as a whole" and which is a fad?