Search results

"thinking" is way different than the unfounded conspiracy you just accused Fidelity of

Yes, will be interesting. My hope is there is a relatively orderly migration to audited stable coins ... and stable coins have a similar regulation in the US as MMKT funds. This will help the whole space long-term.

Interesting Mark, I'd love to hear your reasoning. I have a mental model that bitcoin cash is a failed bitcoin fork I shouldn't touch, but I very much respect you and would love to hear what you are seeing there...

Yea you always say the fallout will be huge but I'm still waiting for a comment as to why you think that? All you say is that 70% of volume number. My point is wont that volume just go to another stable coin if Tether no longer exists???

this is a dumb exercise but OK 1. People generally don't use crypto for payment. So they don't use any particular crypto either. hold on what? isn't one of your arguments that bitcoin isn't good at payments, since there are better cryptos? Now nobody uses crypto for payments? which is it? 2...

Also you are concerned about bitcoin going down in value "not going poor quickly" so you say you bitcoin cash. Here is the bitcoin cash chart priced in bitcoin. This is what you want people to hold???

OK let's pull on the string then. Why don't people use bitcoin cash then? Why is bitcoin cash's market cap 5BB while bitcoins market cap is 800BB? Why is the value transferred over the bitcoin cash network a small fraction of what moves through bitcoins? Why do you think this is? Please don't...

@Pekelo I know you very much dislike bitcoin, but honest question what do you think of my comments above re. using the BTC network and not the asset? Can you see the value of using the BTC network/rails, even if you never own or pay for anything with it? I can take USD and send it to you...

I assume you mean a stablecoin pegged to the USD? (almost all are). That doesn't do much for them tho. They already use the USD because they are too weak economically to support their own currency. To use a stablecoin you typically need a bank account to convert the fiat to stablecoin and most...

yea. I have always said that I cheer for the El Salvador experiment, but the bitcoin community shouldn't totally hitch their ride to this. Basically, ES needs bitcoin way more than bitcoin needs ES. ES is a poor, crime-ridden country with a dictator president (even tho he calls himself a "cool"...

Hold on what?? You are saying Fidelity owns a bunch of bitcoins, and is doing this bc they think bitcoin is going to go down and they want to unload the bitcoin they own to their own customers?? Dude what are you talking about? Do you have any info/sources for this or just your tin hat?

Thanks for sharing this! I have a longer flight later today so I'll give this a read then. Always interested in a contrary opinion/papers, I just don't like brazingly untrue claims (such as bitcoin takes days to settle :) ) If you read the paper, what is your main takeaways? Reading the...

Honest question - is this a bot?? Who types like this?

@RedDuke if Tether is proven to have less in asset value than they say they do, don't you think people will just use another stable coin? Sure it could cause short-term decline no doubt, but longer-term don't you think people would just move on to USDC or Paxos or whatever? Stablecoins are just...

again tho I really wouldn’t call it a scalability problem. It’s a known trade off for rock solid security. The security will be way more important over the long run. The sacrifice, less transactions per block, can be worked around (that’s what layer 2 are for) This was already fought over...

I mean yes and no man. Everyone knows that bitcoin traded off some utility, such as how many transaction can settle on a block, for increased security. Layer 2 solutions like tonight lightning network sure aren’t bitcoin but they are built on top of bitcoin. They are literally designed to...

Alright everybody settle down lol. Angry trader do you realize this is saying that there are a limited number of transactions per block. This is different than what you said. You said it would take a long time to settle if a large amount of value was transferred over the network, but it is a...

The rest of this is just you trying to put bitcoin in a box (mental construct) that it cant fit in. Its many things. Its not just a payment network. Its not just an asset.

No way, Im going to need a source on this one. Calling BS. Every ~10min a new block is made. I have heard of companies requiring transaction counterparties to wait a couple blocks, lets say 4 (40min) or so, but never days.

Fair I guess. Efficiency is vague in a way. The general assumption is if everything settles in 10 minutes the efficiency of the market increases. Right now the system is basically: do a bunch of trades with a bunch of counterparties ... as we will see who owes what in 3 days. Now, of course...