Fake Tesla, Apple stocks have started trading on blockchains

Post by lottin » Wed, Jul 07, 2021, 6:23 PM UTC

MathYouF wrote: post #317

lottin wrote: post #256

Earlier quoted context omitted.

It's not like if hyperinflation could be avoided everything else should be fine. No, hyperinflation is a sign that the economy is grossly mismanaged, and that in turn is likely the result of desperate, incompetent government facing all sorts of economic, social and political problems. Switching to a different currency isn't going to fix a failed state, sorry.

It's an individual citizen's hedge against a poorly managed government in a country they have little choice but to be in (immigration isn't so easy if you're not born into an already prosperous, stable country to begin with). My friend from Venezuela certainly would've benefited from owning a currency that wasn't regulated by his government, which made exchanging Bolivars for external currency illegal except for thos…

Post by delaaxe » Wed, Jul 07, 2021, 6:27 PM UTC

lxgr wrote: post #295

delaaxe wrote: post #288

Earlier quoted context omitted.

It has worked well enough for trading of physical items with dollar bills for quite some time

Until we've found better alternatives. Cash doesn't have a built-in paper trail and dispute resolution mechanism, all of which are highly desirable when doing business with unknown/not yet trustworthy entities. In many (definitely not all!) cases, transaction finality is a bug, not a feature.

Post by dkshdkjshdk » Wed, Jul 07, 2021, 6:46 PM UTC

mrkramer wrote: post #334

dkshdkjshdk wrote: post #329

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> zkSNARKs are not only meant and used for cryptocurrencies. They are decades old technology but ofc they can be used for all sorts of solutions including cryptocurrencies. Yes, but their current popularity (and the reason why so much effort is put into this subfield of cryptological research these days) is most likely due to their use in the context of cryptocurrencies, as far as I can tell. If I'm wrong, please let…

OK....most big-shots are not working in the field. I'm trying to argue that blockchain/crypto industry is amateur and infant and you think I work in such industry and scam people around. I mean c'mon!

Post by MathYouF » Wed, Jul 07, 2021, 9:34 PM UTC

lottin wrote: post #331

MathYouF wrote: post #317

Earlier quoted context omitted.

It's an individual citizen's hedge against a poorly managed government in a country they have little choice but to be in (immigration isn't so easy if you're not born into an already prosperous, stable country to begin with). My friend from Venezuela certainly would've benefited from owning a currency that wasn't regulated by his government, which made exchanging Bolivars for external currency illegal except for thos…

Cryptocurrencies are not used as currency anywhere in the world, because they have properties that make them highly undesirable as money. People who live in countries facing monetary problems will use a foreign currency if they can, but the thing is, using a foreign currency and avoiding some of the problems of hyperinflation is just a marginal improvement, it doesn't solve 99% of the problems that these people are h…

Post by perl4ever » Wed, Jul 07, 2021, 10:11 PM UTC

pishpash wrote: post #338

simonh wrote: post #283

Earlier quoted context omitted.

Companies hold assets, cash flow and perform real world activities that have a tangible value. There are multiple ways that value can be realised. Aside from speculative investors which were discussing, companies and individuals can buy shares in order to exert strategic influence over the company for their own reasons, so the shares have a value to them beyond just the share price. For example the way Microsoft owne…

I'm not talking about the existence of economic value, but of settlement. So there is no settlement except at an indefinite transaction event -- not even under your control if they're non-voting shares, i.e. "whenever".