Bitcoin RIP

dowie said:
Thanks for trying to be helpful here, the existence of bitcoin futures isn’t the question, we know they exist the question is which major financial institutions are trading them?

MS and GS provide clearing, GS was due to open a bitcoin trading desk but then seemingly scrapped the idea.
AFAIK I thought it was some small prop firms involved in liquidity provision and perhaps a few funds and individual clients taking directional punts.
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Ah ok. Openly none that i am aware of.
 
jakedude182 said:
not when the banks are those who store the value which exchanges hold so to speak, transparency is key as with tether (people don't currently have any idea).
I wonder how much insight banks do have when the money backed by them is stored by them

I am with the movement of anonymous transactions and anonymity in general but do wonder when e.g. XRP join with santander and other banks, and electroneum are now KYC compliant, just how much insight banks do have when the underlying principle i feel of cryptocurrencies is anonymity
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Sorry I do not follow the relation of what market value has to do with censorship. A large number of cryptos are traceable. Truely anonymous AFAIK are Monero or ZCash.
 
nine_tails said:
Sorry I do not follow the relation of what market value has to do with censorship. A large number of cryptos are traceable. Truely anonymous AFAIK are Monero or ZCash.
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well i'm talking about many alts in specific that are hoping to reach mass adoption, and have to make more connections with organisations (and follow certain rules in order to do so), otherwise they would exclude a larger part of the market in the future.

So what i'm saying is that I suppose there is some difference to those coins:
True monero is a good pick for annoymity based on how its coded, and I hope these true privacy coins succeed

and despite these anonymous coins (I feel) not caring about making profit,
thier underlying value is tied to bitcoin, so whether they succeed in the longterm is unknown

and those that need/move towards gaining value (i suppose to create more value/profits and be more business like)

tricky to explain
 
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I just hope when it booms again people just trade, rather than mining. I mean, you can make far more from trading, so I don't know why people even bother mining. Half the time people get too greedy and buy up every card they can, then end up just about covering the cost of the hardware and at the same time raise the price for the rest of us that just want to game.
 
arknor said:
bitcoin is nowhere near stable enough for this.
It's hardly safe either how many exchanges have been robbed?
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Stability is based on pairing vs government currency, if everybody on the planet used bitcoin as currency you would have your stability and it would be a hell of a lot more stable and immune to inflation from every currency we've ever used

Safety, my Bitcoins are in MY wallet that I control they are perfectly safe unless somebody tortures me to get the passphrase to unlock it, I could literally hand out a bunch of pen drives to random people with a copy of my wallet encrypted and they wouldn't be able to access the coins, that's how safe it truly is when you're in control of the wallet
 
Mark A said:
I just hope when it booms again people just trade, rather than mining. I mean, you can make far more from trading, so I don't know why people even bother mining. Half the time people get too greedy and buy up every card they can, then end up just about covering the cost of the hardware and at the same time raise the price for the rest of us that just want to game.
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Problem there is you can't trade without some level of mining
 
Mark A said:
I just hope when it booms again people just trade, rather than mining. I mean, you can make far more from trading, so I don't know why people even bother mining. Half the time people get too greedy and buy up every card they can, then end up just about covering the cost of the hardware and at the same time raise the price for the rest of us that just want to game.
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Without mining BTC doesn’t exist.
 
Yep, you're both right, sorry.
I was calling the coin generation phase "mining" and hadn't considered that the transaction verification phase would also be called the same thing.
Of course, it'll need continued processing to work but, as Mark A said, it should make it more stable once we get to that phase*.

*Maybe. Who knows what'll happen? :p It might not even survive that long.
 
200sols said:
It’s 2140! A long time haha
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But it's an exponentially decreasing scale. More than 80% of all coins that will ever exist are already in circulation. There will come a point long before the last coin is found where the transaction fees earned are much more significant than the return from new coins. When that happens, it might help stabilise the large surges and crashes of the price because the transaction fees are manually set so they can respond to change. Maybe?
 
jakedude182 said:
well i'm talking about many alts in specific that are hoping to reach mass adoption, and have to make more connections with organisations (and follow certain rules in order to do so), otherwise they would exclude a larger part of the market in the future.

So what i'm saying is that I suppose there is some difference to those coins:
True monero is a good pick for annoymity based on how its coded, and I hope these true privacy coins succeed

and despite these anonymous coins (I feel) not caring about making profit,
thier underlying value is tied to bitcoin, so whether they succeed in the longterm is unknown

and those that need/move towards gaining value (i suppose to create more value/profits and be more business like)

tricky to explain
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Ah cool. The space needs a cleansing , much like dot com bubble. A handful of projects will survive.
 
nine_tails said:
Ah cool. The space needs a cleansing , much like dot com bubble. A handful of projects will survive.
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So long as the barrier for entry is so low (almost non-existent), that an eight-year-old can create a new currency in about 30 mins, then I think we're going to have millions of entirely worthless "coins" pretty much forever.
 
Minusorange said:
Okay let's take another example

Greece when they had to get bailouts from the IMF, for a long time people couldn't get ANY money from their banks

A decentralised currency where you have access 24/7 forever is far far superior than having to rely on your bank or your government not screwing up the economy or even their systems (TSB) that you can't access the money you had stored away

There's many reasons why Bitcoin or at the least the concept is vastly better to what we currently have
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That isn't an issue with Euros, that is an issue with Green banks! People have bitcoin deposited with all sorts of dodgy unregulated companies, at least banks tend to have some protection. Look at all the people who trusted their bitcoin to Mt Govx for example.

There are plenty of , essentially risk free, ways of protecting your investments without resorting to having to use crypto - in the UK you can buy gilts, you can invest in NS&I products like premium bonds, savings accounts etc..

Stash it in a crypto at the moment and you've got some crazy volatile investment that you're going to have to convert back to whatever real currency you use whenever you need to use it and that might be worth only 1/4 of what it was when you first deposited.
 
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