Crypto currency (IF banned from CA)


Mate, I don't think anyone here is arguing BTC hasn't performed brilliantly over (most of) the last 10 years. I think the argument/question is whether it will do anything useful over the next ten years, and fundamentally why?

I'm sure everyone in this here forum is aware, but it wasn't that long ago that the most valuable item in the world was tulip bulbs.

some in this thread may be tulip bulbs
I can't find a tulip bulb coin on any exchange........
 
You have said it but still haven't shown us any actually doing it.
how many would you like?
https://www.coindesk.com/new-zealand-wealth-management-firm-bitcoinhttps:/

lol
 
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See my point above regarding the wallets being anonymous.

You don't know who owns those unless they want want to.
Hence why I said pseudoanonymous. Nearly every on ramp right now requires some kind of ID verification to buy Bitcoin, there are still some ways around this, but for the most part banks ands governments know exactly which address is linked to which person.
 

Good point, and it's easy to conflate (which I do frequently.) I think a genuine question many have (certainly true for myself) is what use does crypto have? I think a "digital cash" is a perfect use, but not with price instabilities. And if crypto prices converge to a unifying and useful valuation, what determines this? But if it's not able to provide credit/liquidity then it's only a speculative asset. And if so, enjoy the ride as much as you can.
I agree that the majority of cryptos are useless and have no use other than speculative gambling a bit like penny stocks.

There are some legitimate use cases, BTC/XRP while volatile are great for sending money across borders. ETH has created an ecosystem where you can build on top of it, something BTC can't do.

In short there are only a handful of actual projects and nearly no crypto has any real world use case.

I believe there is only 1 real cryptocurrency, but you all know what that is :)

The three main reasons I say this, which are undisputed and can't be said for BTC, ETH or any of the other major coins are;

The code has been audited for bugs 3 times
The code has no admin keys and is immutable - it can't be changed ever
Nearly all of the volume occurs on decentralized exchanges
 
Except that bitcoin is infinitely divisible?



When the demand of an asset decreases and you have excess supply, the price goes down. If you can't imagine how/why demand for crypto will decrease then you will be blind to see it coming.
Not quite, the base unit of bitcoin is a Satoshi and is one hundreth million of a bitcoin
 
Not quite, the base unit of bitcoin is a Satoshi and is one hundreth million of a bitcoin

Upon reflection there is a minimum divisible unit but I don’t think it would be based on any logical or digital limit. Shares trade in fractions all the time and size is limited by voting rights or transaction costs.

Voting rights have been solved in traditional securities—funds don’t transfer voting rights in the underlying assets. Berkshire has done very well selling a Class B stock with no voting rights at all. Brokers are now selling $5 “slices” of shares. Of course none of this is relevant to crypto which holds no voting rights.

But transaction costs are relevant—probably a huge constraint on the utility of crypto, specifically BTC which apparently already has a cumbersome ledger. You can definitely split shares of crypto but I can only see this increasing the ledger, which ends up becoming an increase in transaction cost. Maybe in the future there will be ledger archives and truncated ledgers and this can be solved.

And if you can solve the ledger/transaction costs then I don’t see why you can’t own 1/2 a satoshi or whatever size unit you desire.
 
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Upon reflection there is a minimum divisible unit but I don’t think it would be based on any logical or digital limit. Shares trade in fractions all the time and size is limited by voting rights or transaction costs.

Voting rights have been solved in traditional securities—funds don’t transfer voting rights in the underlying assets. Berkshire has done very well selling a Class B stock with no voting rights at all. Brokers are now selling $5 “slices” of shares. Of course none of this is relevant to crypto which holds no voting rights.

But transaction costs are relevant—probably a huge constraint on the utility of crypto, specifically BTC which apparently already has a cumbersome ledger. You can definitely split shares of crypto but I can only see this increasing the ledger, which ends up becoming an increase in transaction cost. Maybe in the future there will be ledger archives and truncated ledgers and this can be solved.

And if you can solve the ledger/transaction costs then I don’t see why you can’t own 1/2 a satoshi or whatever size unit you desire.
its already solved with the lightening network,
this is what is being introduced in el Salvador and satoshis will be legal tender.
i use the blue wallet and i can send as much or as little as i want for next to nothing.
western union will be dead within a couple of years!
 

how many would you like?
https://www.coindesk.com/new-zealand-wealth-management-firm-bitcoinhttps:/

lol
So how do you feel about these first steps towards your independent crypto currency being controlled by the same banking system it was designed to replace?
 
So how do you feel about these first steps towards your independent crypto currency being controlled by the same banking system it was designed to replace?
it will replace the current system eventually,
the BOE,ECB and the fed are absolutly bricking it and are doing their best to get it banned,the current trendy FUD is energy usage which is nonsense!
the isle of man wanted to become a blockchain hub until the BOE told them to wind their necks in!
these things take time!
 
ill tell you what i find bemusing on this thread,
you have some posters who hate on anyone who makes a few quid with the tory shouts,
then with the next breath defend bankers who absolutely despise working class people in a rigged financial system,
crazy!
 
Not everyone will be for it like. Obviously myself and others don’t know too much about it. Nice to see the average man make a little dough off it though. Could be achieved without turning into The Mongrel Of Wall Street but then this is GOT. Edgy boys react, that’s how it rolls.
 

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