Did you edit my post?
Bitcoin go up BECAUSE Bitcoin go up. It's a self fulfilling prophecy. It's the same reason house prices go up...same house ..same neighborhood..suddenly worth 50% more but nothing has changed.
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Using BTC to buy stuff
- Thread starter long
- Start date
Did you edit my post?
Bitcoin go up BECAUSE Bitcoin go up. It's a self fulfilling prophecy. It's the same reason house prices go up...same house ..same neighborhood..suddenly worth 50% more but nothing has changed.
Did you edit my post?
Bitcoin go up BECAUSE Bitcoin go up. It's a self fulfilling prophecy. It's the same reason house prices go up...same house ..same neighborhood..suddenly worth 50% more but nothing has changed.
With a sprinkle of supply and demand.
Looks like you boys have mastered economics.
The crypto ecosystem: key elements and risks Report submitted to the G20 Finance Ministers and Central Bank Governors July 2023 by the Bank for International Settlements
Conclusions
In just over a decade, crypto has gone from niche activity to something that impinges on the mainstream financial system. While initially it was the preserve of a small set of enthusiasts, millions of retail users as well as more and more institutional investors have entered the crypto ecosystem in recent years.
Crypto offers some elements of genuine innovation, such as programmability and composability. With these new functionalities, sequences of financial transactions could be automated and seamlessly integrated. Together with tokenisation, this has the potential to reduce the need for manual interventions that currently delay transactions and create costs (Carstens (2023), Aldasoro et al (2023)).
That said, crypto has so far failed to harness innovation to the benefit of society. Crypto remains largely self-referential and does not finance real economic activity. It suffers from inherent shortcomings related to stability and efficiency, as well as accountability and integrity. These structural flaws result from the underlying economics of incentives rather than technological limitations. Furthermore, while DeFi and crypto for the most part replicate services offered by the traditional financial system, they can exacerbate known vulnerabilities. Taken together, the key takeaways from this report suggest that crypto’s inherent structural flaws make it unsuitable to play a significant role in the monetary system.
https://www.bis.org/publ/othp72.pdf
Conclusions
In just over a decade, crypto has gone from niche activity to something that impinges on the mainstream financial system. While initially it was the preserve of a small set of enthusiasts, millions of retail users as well as more and more institutional investors have entered the crypto ecosystem in recent years.
Crypto offers some elements of genuine innovation, such as programmability and composability. With these new functionalities, sequences of financial transactions could be automated and seamlessly integrated. Together with tokenisation, this has the potential to reduce the need for manual interventions that currently delay transactions and create costs (Carstens (2023), Aldasoro et al (2023)).
That said, crypto has so far failed to harness innovation to the benefit of society. Crypto remains largely self-referential and does not finance real economic activity. It suffers from inherent shortcomings related to stability and efficiency, as well as accountability and integrity. These structural flaws result from the underlying economics of incentives rather than technological limitations. Furthermore, while DeFi and crypto for the most part replicate services offered by the traditional financial system, they can exacerbate known vulnerabilities. Taken together, the key takeaways from this report suggest that crypto’s inherent structural flaws make it unsuitable to play a significant role in the monetary system.
https://www.bis.org/publ/othp72.pdf
@Frederick Foresight obviously, BIS is just a bunch of no-coiners who are bitter that they did not buy BTC. Or, alternatively, they are in pockets of the banking system and shilling for them.
Not only that. They don't even have a YT channel!