mindstalk: (Default)
2019-04-24 07:51 pm

fundamental blockchain problems 2

A simpler take on https://mindstalk.dreamwidth.org/511477.html

If everyone used Bitcoin, you could use it twice in your lifetime.

Global life expectancy is 70 years, which is around 2 billion seconds, which allows for 14 billion Bitcoin transactions, given a hard limit of 7 per second. There are 7 billion people, so in that 70 year span, two transactions per person.

Currency of the future, I tell ya...
mindstalk: (Default)
2019-01-24 12:15 pm

bitcoin ETF

A well-written 13 page PDF submitted to the SEC, arguing against the approval of a Bitcoin ETF. https://www.sec.gov/comments/sr-cboebzx-2018-040/srcboebzx2018040-4064523-169183.pdf

Highly manipulated penny stock equivalent, with no revenue and negative sum trading, used largely for illegal money transfer, plus unbacked claims of insurance by the ETF proposers, who would be in a position to manipulate the alleged value.