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I can see the value, it is a peer to peer dropbox that pays you in a token that can be used for speculation and immediate liquidity, think about this to sell a

by ojr 9y ago

I can see the value, it is a peer to peer dropbox that pays you in a token that can be used for speculation and immediate liquidity, think about this to sell a US stock to usd takes 7 business days, to sell a crpytocurrency to usd takes up to 3 business days on coinbase, sometimes same day or you can trade the token and hold in a bitcoin or ether within minutes

AndrewKemendo 9y ago
it is a peer to peer dropbox that pays you in a token that can be used for speculation and immediate liquidity Ok, but dollars can also be used for speculation and immediate liquidity. Why is a corporate run token system better than the cash coming from the US Banking system? I mean practically, not philosophically. sell a US stock to usd takes 7 business days T+3 is usually just 3. So I don't know what second tier brokerage you're using but I can ACH stock liquidation cash from a vanguard account in 3 days.
- erikpukinskis 9y ago
  The point of cryptocurrencies is they are robust in the face of malicious action by any individual party. If the United States sank into the Atlantic Ocean, Filecoin would still work exactly as designed everywhere else. If it were built around a USD bank account, a simple change in the terms of service for the bank could shut the service down completely. Who is the account holder? The Filecoin inventors? What happens if someone blackmails them for the account password? What happens if they die? To build Filecoin on USD you'd have to put all your trust in the Filecoin corporation. The point of cryptocurrencies is you don't have to put your trust in any single entity.
FajitaNachos 9y ago
It only takes the trade date + 3 days to settle a stock trade.
- ojr 9y ago
  it took me 7 days on the Robinhood app not to settle but get the USD into my bank account
umanwizard 9y ago
> to sell a US stock to usd takes 7 business days On Fidelity or Schwab it takes 3, unless I'm confused
- ojr 9y ago
  worst case scenario crptocurrency is 3 days, best case is 1 hour, to sell a US stock in the worst case is 7 days, best case is 3

by ojr 9y ago

AndrewKemendo 9y ago

it is a peer to peer dropbox that pays you in a token that can be used for speculation and immediate liquidity Ok, but dollars can also be used for speculation and immediate liquidity. Why is a corporate run token system better than the cash coming from the US Banking system? I mean practically, not philosophically. sell a US stock to usd takes 7 business days T+3 is usually just 3. So I don't know what second tier brokerage you're using but I can ACH stock liquidation cash from a vanguard account in 3 days.

erikpukinskis 9y ago
The point of cryptocurrencies is they are robust in the face of malicious action by any individual party. If the United States sank into the Atlantic Ocean, Filecoin would still work exactly as designed everywhere else. If it were built around a USD bank account, a simple change in the terms of service for the bank could shut the service down completely. Who is the account holder? The Filecoin inventors? What happens if someone blackmails them for the account password? What happens if they die? To build Filecoin on USD you'd have to put all your trust in the Filecoin corporation. The point of cryptocurrencies is you don't have to put your trust in any single entity.

FajitaNachos 9y ago

It only takes the trade date + 3 days to settle a stock trade.

ojr 9y ago
it took me 7 days on the Robinhood app not to settle but get the USD into my bank account

umanwizard 9y ago

> to sell a US stock to usd takes 7 business days On Fidelity or Schwab it takes 3, unless I'm confused

ojr 9y ago
worst case scenario crptocurrency is 3 days, best case is 1 hour, to sell a US stock in the worst case is 7 days, best case is 3