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they are probably not. banks always had their own trading platform + monetary system. fully decoupled from the economy. https://en.m.wikipedia.org/wiki/Dark_po
by gcb0 9y ago
they are probably not.
banks always had their own trading platform + monetary system. fully decoupled from the economy. https://en.m.wikipedia.org/wiki/Dark_pool https://en.m.wikipedia.org/wiki/Dark_pool
there's no way they are making the system they own be subjected to mining proof and other shenanigans. it would be a very dumb move for no obvious advantage.
- eutropia 9y agoRight -- and isn't massively energy inefficient? I think I saw an article crop up here recently that said a processing a single BTC transaction uses something like 5.8 times as much energy as the median US household uses in a day. Why would banks do something so monumentally wasteful when they can trust each other?
- gcb0 9y agoI doubt they will include the same mining consensus rules. in other words, nothing different than what they have today + buzzwords.
- gmu3 9y agoNew cryptocurrencies don't require as much energy to mine initially
- WhiteOwlLion 9y agoYou can set up the crypto to not raise difficulty. Even a CPU based mining could do the job then.
- lemonycracket 9y agoWhat's the energy cost of the current system?
- gcb0 9y agolol. they point to a bank of England, non peer reviewed, paper that suggest a distributed ledger system which the bank can control the value and supply via policies. that's the exact opposite of how a distributed ledger should work.