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BITCOIN
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Scottex99 said:bugbyte_2 said:Good point. What is the problem that Crypto solves again?
For example, those saying that XLM and XRP will be used officially.
(The person I've heard saying this is Jennifer Arcuri, Boris' ex).0 -
Inevitable in some form or another but not crap legacy coins like Ripple and Stellar. I think Stellar has some links with Ukraine but that was the bull run days of 17 where most coins were supposedly being adopted by some company/country or another and it never came to anything worthwhile.
Remains to be seen. BTC might be legal tender in more countries soon, It’ll be on a lot of balance sheets. I personally see millions of USDT/USDC flow every day but govs aren’t going to like that lack of control so will create their own CBCDs at some point. Good for the technology but not good for some of the assets, there’s still loads to play out and the space changes at a rapid pace. Saw a stat that 6% of all VC money went to crypto in last year (?), that’ll only get bigger in time1 -
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tranquility1 said:thegentleway said:tranquility1 said:
This parish shills equities/bonds
But what I will say is this: all investors today (even the older ones) have only ever known decreases in interest rates. They've come down from 18% in the 1980s to almost 0% today. Therefore an entire generation have got used to equities performing well.1 -
bugbyte_2 said:
“If I had asked people what they wanted, they would have said faster horses.” Attributed, rightly or wrongly, to Henry Ford.
It's how we end up with things that we never realised we couldn't do without.
We may well be looking back in 10 or 20 years time saying, "Currencies, can you believe that used to be a thing?"
A bit like what the Euro was supposed to be. You know, not having to change currency just because you are going on holiday to another country!!!
Us youngsterssee that kind of thing as a benefit!
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lozzy1965 said:lozzy1965 said:
“If I had asked people what they wanted, they would have said faster horses.” Attributed, rightly or wrongly, to Henry Ford.
It's how we end up with things that we never realised we couldn't do without.
Crypto currency mining and the technology behind it all (blockchain) is incredibly inefficient. Mining a BitCoin generates around 700kg of CO2, that is roughly equivalent to 2.5 months CO2 production for the average European (or 1.2 months for the average American). Processing one BitCoin transaction uses as much electricity as 1.5 million bank transfers (or Visa/Mastercard/Amex transactions). Cryptocurrency is not solving a problem and it has no viable long term implementations, indeed if it were used for UK banking we would need to double the amount of power production in the UK to power the data centres just to handle the transactions (Bitcoin alone, mining and transactions currently consume more than twice the electricity the UK uses in a year and Bitcoin now makes up less than a third of total crypto energy consumption).lozzy1965 said:
We may well be looking back in 10 or 20 years time saying, "Currencies, can you believe that used to be a thing?"lozzy1965 said:
A bit like what the Euro was supposed to be. You know, not having to change currency just because you are going on holiday to another country!!!lozzy1965 said:Us youngsterssee that kind of thing as a benefit!
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lozzy1965 said:bugbyte_2 said:
“If I had asked people what they wanted, they would have said faster horses.” Attributed, rightly or wrongly, to Henry Ford.
It's how we end up with things that we never realised we couldn't do without.2 -
at least henry ford didnt say he would accept bitcoin to buy his cars then change his mind.0
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