4 ms·

this is why bitcoin is important...

neximo64 10y ago
How would bitcoin change anything? The market pricing mechanism for bitcoin is outside the scope of the blockchain - in other words traders set that. Likewise interest rates on bitcoin would be exactly the same.
- nfbush 10y ago
  I agree to an extent however bitcoin marketplaces have a substantially lower bar to entry and slightly more (apparent) transparency to trade volume and holding which can give better ideas as to stability and the market consensus. I admit this is conjecture however it is undeniable that the closed doors of financial institutions make price fixing more convenient.
  - JumpCrisscross 10y ago
    > Bitcoin marketplaces have...more (apparent) transparency to trade volume and holding Libor is the rate at which banks lend to each other. It wouldn't matter if the contracts were dollar or Bitcoin or seashell denominated. They are private contracts to which the public is not privy. A simpler solution is requiring banks to post their interbank borrowings, nightly, to a clearinghouse.
    - nfbush 10y ago
      I just realised i'm mixing up trading and lending, i shouldn't post when this tired lol. Maybe if we lived in a dissociated socialist crypto cybertopia it would be possible, i can dream.
- jakeogh 10y ago
  It's competition with standard banking and payment at least.
  - digi_owl 10y ago
    Yeah, like always playing in gold is...
    - jakeogh 10y ago
      That's what I was thinking. Bitcoin is significantly easier to trade in.
  - UweSchmidt 10y ago
    You really think politics/central banks will sit back and shrug "oh we can't regulate money supply any more, a small number of anonymous people who invested in Bitcoin early are in charge of the world economy? Bummer."
    - jakeogh 10y ago
      Nope. But they are not omnipotent.
raverbashing 10y ago
The bitcoin circle of self-pleasing is funny. They don't know the basis of economical science and are stuck in a self-limiting (hence deflationary) monetary base. Not to mention some of the fundamentalism that runs around Good luck with that

How would bitcoin change anything? The market pricing mechanism for bitcoin is outside the scope of the blockchain - in other words traders set that. Likewise interest rates on bitcoin would be exactly the same.

nfbush 10y ago
I agree to an extent however bitcoin marketplaces have a substantially lower bar to entry and slightly more (apparent) transparency to trade volume and holding which can give better ideas as to stability and the market consensus. I admit this is conjecture however it is undeniable that the closed doors of financial institutions make price fixing more convenient.
- JumpCrisscross 10y ago
  > Bitcoin marketplaces have...more (apparent) transparency to trade volume and holding Libor is the rate at which banks lend to each other. It wouldn't matter if the contracts were dollar or Bitcoin or seashell denominated. They are private contracts to which the public is not privy. A simpler solution is requiring banks to post their interbank borrowings, nightly, to a clearinghouse.
  - nfbush 10y ago
    I just realised i'm mixing up trading and lending, i shouldn't post when this tired lol. Maybe if we lived in a dissociated socialist crypto cybertopia it would be possible, i can dream.
jakeogh 10y ago
It's competition with standard banking and payment at least.
- digi_owl 10y ago
  Yeah, like always playing in gold is...
  - jakeogh 10y ago
    That's what I was thinking. Bitcoin is significantly easier to trade in.
- UweSchmidt 10y ago
  You really think politics/central banks will sit back and shrug "oh we can't regulate money supply any more, a small number of anonymous people who invested in Bitcoin early are in charge of the world economy? Bummer."
  - jakeogh 10y ago
    Nope. But they are not omnipotent.

raverbashing 10y ago

The bitcoin circle of self-pleasing is funny. They don't know the basis of economical science and are stuck in a self-limiting (hence deflationary) monetary base. Not to mention some of the fundamentalism that runs around Good luck with that