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One for the crypto haters

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  1. #191

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    I'm sure your post had merit but I stopped reading at

    Quote Originally Posted by FrancisX:
    Agree with the Brit

  2. #192
    Quote Originally Posted by TheBrit:
    CBA to check if the password was released on 15th but I suspect it wasn’t.
    Yeh it wasn't real (sadly)

  3. #193

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    Quote Originally Posted by Gollygordon:
    Yeh it wasn't real
    Like your $200 fee remittances and crypto does have real world use cases then
    Gollygordon likes this.

  4. #194

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    Quote Originally Posted by FrancisX:
    Crypto has value, but the future of crypto will be nothing like what we see now. In fact, it won't really be crypto at all, except loosely in name.
    To me these read like words from a person stuck in their own bubble, but that’s fine — it’s what makes a market.

    Many aspects of the current crypto ecosystem will go to zero as they should and no one in this thread has disagreed with that.

    What really baffles me especially in light of all that’s happened in the last decade and change is where proponents of what I will loosely call traditional finance get so much confidence in the abilities of the “lords of finance” (still a great read) over an emergent system that has already shown a good deal of resilience.

  5. #195

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    Quote Originally Posted by HWH:
    To me these read like words from a person stuck in their own bubble, but that’s fine — it’s what makes a market.

    Many aspects of the current crypto ecosystem will go to zero as they should and no one in this thread has disagreed with that.

    What really baffles me especially in light of all that’s happened in the last decade and change is where proponents of what I will loosely call traditional finance get so much confidence in the abilities of the “lords of finance” (still a great read) over an emergent system that has already shown a good deal of resilience.
    Which bubble am I in?

    And if you disagree with what I wrote, please respond with an argument and not a vague comment.

    Especially explain to me why you think any end user would choose crypto in its current state for anything more than speculation over a centralised, regulated digital alternative that absorbs and provides all the benefits of crypto with none of the inherent risk?

  6. #196

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    Quote Originally Posted by GentleGeorge:
    I'm sure your post had merit but I stopped reading at
    I have my issues with him, but when he's right he's right...

  7. #197

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    Quote Originally Posted by FrancisX:
    Which bubble am I in?

    And if you disagree with what I wrote, please respond with an argument and not a vague comment.

    Especially explain to me why you think any end user would choose crypto in its current state for anything more than speculation over a centralised, regulated digital alternative that absorbs and provides all the benefits of crypto with none of the inherent risk?
    A bubble where a "centralised, regulated digital alternative" could plausibly provide "all the benefits of crypto with none of the inherent risk".

    For many the whole point of all this is decentralisation -- apolitical digital bearer instruments if you will -- precisely because centralised alternatives do not work for them for one reason or another. The reasons have been recapitulated many times, not sure how productive that conversation will be. The difference of opinion is on how plausible. For me the shortlist is censorship and seizure resistance, and predictable policy (open source code that in the case of Bitcoin anyway requires overwhelming consensus to change, at least on fundamental items like supply)
    Sage likes this.

  8. #198

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    Quote Originally Posted by HWH:
    A bubble where a "centralised, regulated digital alternative" could plausibly provide "all the benefits of crypto with none of the inherent risk".

    For many the whole point of all this is decentralisation -- apolitical digital bearer instruments if you will -- precisely because centralised alternatives do not work for them for one reason or another. The reasons have been recapitulated many times, not sure how productive that conversation will be. The difference of opinion is on how plausible. For me the shortlist is censorship and seizure resistance, and predictable policy (open source code that in the case of Bitcoin anyway requires overwhelming consensus to change, at least on fundamental items like supply)
    Still not answered my question. I'm not interested in some idealistic adopters (but would question whether they represent the "many"). I'm asking about mass adoption. Majority of people don't care about whether their payment instrument is decentralised or not, whether there is some vague potential of seizure - they care that it is secure, convenient and fully covered in case of problems. For every advantage crypto can list, if it can't get over these fundamentals then it will remain a speculative asset class and a very niche - and often unethical -payment instrument

  9. #199

    What do you guys know that the BoE are missing?

    'Bank of England Deputy Governor Jon Cunliffe sees a possibility for crypto meltdown survivors to become the future technology companies, rivaling Amazon.com Incand eBay Inc,'

    'He emphasized "huge applications and potential within the financial sector" for crypto technology despite the current scenario and expected crypto technology and finance to continue amid odds.'

    https://news.yahoo.com/boe-explains-...172726528.html


  10. #200

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    Quote Originally Posted by Gollygordon:
    What do you guys know that the BoE are missing?

    'Bank of England Deputy Governor Jon Cunliffe sees a possibility for crypto meltdown survivors to become the future technology companies, rivaling Amazon.com Incand eBay Inc,'

    'He emphasized "huge applications and potential within the financial sector" for crypto technology despite the current scenario and expected crypto technology and finance to continue amid odds.'

    https://news.yahoo.com/boe-explains-...172726528.html
    Looks like he is saying exactly the same as me and many others here. Once the scams, Ponzi’s and bullshit is wiped clean there might be some uses for the technology in the future. Hard to argue with that. I suspect most crapto “investors” get marked to zero before then though.

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