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Old 17.11.2020, 17:10
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Re: Mass adoption crypto

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Your proposal to use a centralised authority is fine, except blockchain is absolutely pointless unless it is decentralised. With a single authority blockchain has zero security and massive costs.
You should tell Zuckerberg and the Libra Association immediately. As well as China with its DCEP.
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Old 17.11.2020, 17:20
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Re: Mass adoption crypto

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You should tell Zuckerberg and the Libra Association immediately. As well as China with its DCEP.
I don't need to, most of the original Libra participants have already given a clear message by walking away
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  #43  
Old 18.11.2020, 00:33
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Re: Mass adoption crypto

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This is not the reason blockchain is slow. It is slow because it demands proof-of-work which has to be slow and costly to prevent chain hijacking.
Blockchain is slow because it’s a distributed ledger. Even without any security process in place would it be slow because of every single aspect of its design. Not a few percent but several magnitudes slower than a centralized system geared for speed. That’s really databases 101.
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Old 23.11.2020, 10:34
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Re: Mass adoption crypto

Institutional investors getting in:

https://news.bitcoin.com/coinbase-20...nal-investors/
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Old 23.11.2020, 10:41
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Re: Mass adoption crypto

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Institutional investors getting in:

https://news.bitcoin.com/coinbase-20...nal-investors/
Most of the rise is not additional investment, it's the change in price. The assets under custody........
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Old 23.11.2020, 10:45
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Re: Mass adoption crypto

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its at 15k CHF today.

What is pretty amazing, use cases or not, is how it keeps going up. Its like its own dot com bubble. The people into it are completely convinced it will change the world so keep telling each other its more and more valuable. Either it is, and it will work, or it isnt and if its the latter it will all come crashing down.

I think there are real use cases - mainly in the area of audit rather than financial transactions - but i look in wonder at the price. someone told me to buy one at 5000 chf saying it was "a bargain" and now its 15k (I didnt of course!!!) but if you ask him he is completely, totally, convinced it will get to a million in the next few years.
I think bitcoin is a more extreme version of gold.

- Limited reserves and limited supply but even more limited as production rate is capped unlike for gold where you could open new mines
- Limited uses: gold has uses in industry and jewellry but a lot is as a store of wealth. Bitcoin has some technical uses. Both in theory could be used as a medium of exchange but doesn't make sense for either. Both are essentially just stores of wealth.

The limited new supply means demand quickly ramps prices up and down. The big unknown is how liquid are early quantities of bitcoin a lot may be lost or HODLed - to me that seems the biggest potential thing that could push prices down.
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Old 23.11.2020, 10:50
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Re: Mass adoption crypto

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Most of the rise is not additional investment, it's the change in price. The assets under custody........
Exactly - this is what financial institutions post on their advertising websites if it looks good...

Internally they use net new money (i.e. new investments) which is a much more sensible measure.

If Bitcoin were being consistent and really thought BTC was a new currency, they'd admit this is all basically due to FX movement (change in value vs dollar). Which taking it a step further makes their USD costs go up, USD revenue go down, and not on the whole a good thing.
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