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Simply crypto is eating finance. Very slowly but it's happening.
by knocte 10y ago
Simply crypto is eating finance. Very slowly but it's happening.
- sanswork 10y agoIs there any evidence it's making any progress into traditional finance? There were a number of projects announced over the past few years but they all seem to have sizzled out or been outright cancelled. Where are you seeing it "eating finance"?
- alexmat 10y agoSynthetic USD/CNY/JPY bonds: https://www.youtube.com/watch?v=XehDfHTa8Sg https://www.youtube.com/watch?v=XehDfHTa8Sg This stuff is brilliant.
- sanswork 10y agoI feel like I'm missing a lot here. Why would anyone go through all that trouble just to create an asset that follows the price of USD? Why not just use USD?
- bottled_poe 10y agoUntaxed and black market trading. It's worth a lot of money, until it gains serious traction at which point the government will simply outlaw it.
- JumpCrisscross 10y ago> at which point the government will simply outlaw it If you are using it for tax avoidance or money laundering, it is already illegal.
- tluyben2 10y agoI think many people see crypto currencies, until they are regulated, somehow, as legal ways to not pay tax. Obviously they are not and when the gov catches up, they might get you anyway. They are very patient. Ofcourse things are easier to hide if you want to for a while, but how would you turn it into actual money if we are talking large amounts?
- dragonwriter 10y agoI think "outlaw" upthread means "take notice of the particular mechanism, and sufficient steps to make it untenable for most use".
- cm2187 10y agoIt's no more "eating finance" than SQL servers or hadoop are eating finance. It is a tool that may or may not be used by large financial institutions.