721–730 of 736 posts
Earlier quoted context omitted.
They won't be. For the same reason it is not widely adopted as a store of value or a currency. Especially not with the looming Tether liquidity crisis.
Is your money where your mouth is? 100% BTC will be worth more than it is today in 25 years.
and you call yourself a quant lmao
better change it to expert in cryptocurrency on your linkedin profile
edit: nvm a crypto quant! this is even better! downvote away! sounds like someone is triggered
Earlier quoted context omitted.
> These are insane fees ripe for disruption. No other exchange today has my trust, I don’t care if they compete on fees. When your btc is at real risk of they by an exchange, trust is everything. There is no FDIC insurance for exchanges. Now if Chase were to do BTC exchange at better rates... i would probably switch.
>There is no FDIC insurance for exchanges. https://support.gemini.com/hc/en-us/articles/205823016-Are-m... >U.S. dollars in your Gemini Account are eligible for FDIC insurance, subject to applicable limitations. Please see the FDIC Insurance section of our User Agreement for more information.
Earlier quoted context omitted.
The whole point of his comment is that BTC is better viewed as store of value rather than a medium of exchange
Except that BTC is a terrible store of value, possibly the last option in a long line of better classical options such as real estate (or related funds), stocks, bonds, basket of currencies, commodities. We already have tons of options for 'store of value' why on earth would we invent another, worse one? BTC is not a store of value or a currency - it's a weird social movement.
Earlier quoted context omitted.
The problem is very much technological - traditional stock market is based on opacity and exclusivity. Blockchain is based on permissionlessness and transparency. Internet didn’t succeed because it allowed illegal stuff to be published. It succeeded because anyone could begin publishing, and if it was illegal then it was their responsibility. With blockchain it’s similar - you can create financial instruments without…
Disagree. The gatekeepers exist for a reason. You can make a pink sheet stock. There was a time when anyone could issue their own stock or currency. It was not better. It's why securities laws were made. There is not a lack of lenders and loans for people to access. These are still solutions in search of problems
You could use your argument for reintroducing gatekeepers to information economy.
If we banished social media and independent blogs, and got back to a bunch of government-approved publishers, we would get rid of fake news, anti-science and populism within a day.
But the cost is too great and we are looking for other solutions.
Ditto with arxiv and Elsevier. You can say a lot of bad things about Elsevier, but not in terms of the quality of papers.
Gatekeepers stiffle innovation in exchange for safety. And there are other ways to arrive at safety than through gatekeepers. (e.g. by punishing people who abuse the system post-facto).
Earlier quoted context omitted.
Otherwise known as credit, which has been the prevailing valuation since the Stone Age.
The difference between relying on credit backed by a physical item (gold bricks) versus credit backed by "the Full Faith and Credit" clause of the Constitution is what happens in the event of default by the issuer of the credit. If the wheels stop turning at some point, there is no recoverable asset.
Can you or someone explain why “the full faith and credit clause” of the Constitution is commonly associated with “financial credit”?
The full faith and credit clause has to do with the states generally honoring court judgements, public licenses, etc... from the other States.
What does that have to do with a default by an issuer of credit?
I find it interesting (sad, actually) that most other S-1 posts on here are congratulatory for the most part, giving kudos to the teams (look at the DO one today). However, when it comes to anything crypto related, the emotions really come out. It's all "bitcoin/crypto is useless, doesn't solve any problem, waste of talent." For a community of hackers, there really seems to be a lack of vision when it comes to crypto…
true, as a 20+ year sec guy, I didn't get interested in crypto till I started buying it in 2017. I might be able to retire in under 5 years if crypto keeps growing at the rate.
Earlier quoted context omitted.
You're conflating things. When they say "transaction fees" here, they're referring to blockchain network fees (which they previously covered for users, before network congestion), not buy/sell fees, which they have always charged.
Though they used to take no fees from market makers.
Earlier quoted context omitted.
> Folks - the Central Bank is an essential pillar of governance. Folks, I give you the cowering voice of the disrupted Industry trying to rationalize it's existence: it's pointless, we already won, time is setting everything in motion now, but ultimately your cause is lost. UBI is going to happen now and global inflation has kicked off since the pandemic, and interest rates are at near 0% if not negative in some coun…
Thanks for clearing up the uninformed and conspiratorial world view of the BTC supporting legions. It's fine to question these institutions, but it should be done on the basis of informed understanding, and then, the solutions arrived at from a pragmatic, informed perspective. Because once that is done, it will be clear BTC isn't really a solution to anything. Also, it's important to note the populist mania influence…
What are you on about, look at what has happened since the 80s in the US and in Europe and the massive wealth transfer due to policy WTO and the off-shoring to Asia, specifically in China. All of that was possible due to the US moving from a manufacturing giant to a service sector economy only possible due to reckless Central Bank money policy, creation, and market speculation.
I'm lost for words with how absurd you people are about Bitcoin, but Central Banks are the largest ponzi of all, they steal from future generations to pay for the myopic and insane monetary policy of the present. We resisted and opposed all these endless wars and bailouts, but realized no amount of protesting will change their behaviour.
We sought to exit this, and created a system to opt-out, but you are free to stay and have your wealth evaporated as you please.
But consider that the 'smart money' is with us, and their balance sheets get bigger and bigger day by day. What bearing that has on your life and decision making is up to you, we are already so far beyond questioning and anything they say is irrelevant to us at this point, and we do not intend to listen. Janet Yellen is about as releevnt to us as CRW 'faketoshi' a minor inconvenience that simply refuses to go away and makes lots of noise, but will ultimately be silenced and would benefit by just opting in.