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Do bitcoin pumpers ever come up for air? None, I mean absolutely none of what you are writing will ever happen. Why? Because if Bitcoin boosters understood a

Do bitcoin pumpers ever come up for air? None, I mean absolutely none of what you are writing will ever happen. Why? Because if Bitcoin boosters understood anything about politics, economics, math, finance, computer science, monetary policy, business, accounting, marketing or seemingly life in general.... they too would look at it and go "sounds way to good to be true. no thanks". Every single thing in your post makes zero sense.... it is all breathless hype.

imcoconut 9y ago
> Every single thing in your post makes zero sense Not true. Most of the post makes sense. Trustlessness and decentralization are pretty much the only benefits to bitcoin and others like it. There are obviously real costs for these features, but also real benefits. Do the benefits justify the current valuations - only the market can determine that. I personally am quite bearish on almost all cryptoassets (so I would not be considered a "pumper"), but certainly you must see the threat they pose to the incumbent masters of the monetary system?
Mandatum 9y ago
Aren't we already seeing this in developing countries? Zimbabwe for instance has a great peer-to-peer lending platform. Currently backed by a bank, but what if the currency was simply tokens pegged to fiat such as USD by another company? (Similar to what Cryptopia has done with NZDT.) Another example I've seen in real world use is the "startup" retail banks popping up throughout Africa that have no offices, and are purely operated over mobile. The lack of regulation in these countries have lead to massive leaps in innovation in the banking space. Seriously, you can read articles about it - but until you go to countries like Nigeria or Kenya and try it out, it's incredibly impressive. I'm not a major investor in crypto anything, I think most, if not all, coins created right now are completely pointless - but blockchain as a public, auditible ledger and fiat-backed crypto/tokens I think we'll see some very cool innovation that own't overhaul the banking industry completely. There's too many smart people in banking to get "caught out". However I do think we'll see some new contenders in the space as the industry begins to break down into smaller units. And that'll be good for everyone.

imcoconut 9y ago

> Every single thing in your post makes zero sense Not true. Most of the post makes sense. Trustlessness and decentralization are pretty much the only benefits to bitcoin and others like it. There are obviously real costs for these features, but also real benefits. Do the benefits justify the current valuations - only the market can determine that. I personally am quite bearish on almost all cryptoassets (so I would not be considered a "pumper"), but certainly you must see the threat they pose to the incumbent masters of the monetary system?

Mandatum 9y ago

Aren't we already seeing this in developing countries? Zimbabwe for instance has a great peer-to-peer lending platform. Currently backed by a bank, but what if the currency was simply tokens pegged to fiat such as USD by another company? (Similar to what Cryptopia has done with NZDT.) Another example I've seen in real world use is the "startup" retail banks popping up throughout Africa that have no offices, and are purely operated over mobile. The lack of regulation in these countries have lead to massive leaps in innovation in the banking space. Seriously, you can read articles about it - but until you go to countries like Nigeria or Kenya and try it out, it's incredibly impressive. I'm not a major investor in crypto anything, I think most, if not all, coins created right now are completely pointless - but blockchain as a public, auditible ledger and fiat-backed crypto/tokens I think we'll see some very cool innovation that own't overhaul the banking industry completely. There's too many smart people in banking to get "caught out". However I do think we'll see some new contenders in the space as the industry begins to break down into smaller units. And that'll be good for everyone.