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I expect the bitcoin case will remain dubious to the SEC because Bitcoin has no fundamentals. I.e no relationship to anything tangible. Further, volume on unre
by usgroup 8y ago
I expect the bitcoin case will remain dubious to the SEC because Bitcoin has no fundamentals. I.e no relationship to anything tangible.
Further, volume on unregulated exchanges does effect price on regulated ones ... so you don’t have to manipulate a regulated exchange to move price.
Really what crypto needs is a trustless blockchain based exchange. Something like an Ethereum based limit order book. Then no other exchange is relevant.
- nostrademons 8y agoThese already exist, eg. Idex and other distributed exchanges. People use them - Idex is one of the most-used Ethereum dApps - but they suffer from ease-of-use problems. Either you go through a web interface (which defeats the purpose of them being decentralized, since you have to trust the website you're making the trades on) or you put up with the hassle of sending individual transactions to smart contracts with your Ethereum wallet, which is pretty error-prone for most ordinary users.
- arisAlexis 8y agomoney is consensus and not backed by anything other than a government promise. bitcoin is backed by hash power = money. it's 2019 we are past tulip phase. you can pay taxes in usa with it.
- floe 8y agoYou could also pay taxes with tulips, if you exchanged them for the correct currency, yeah...?
- pessimizer 8y agoThe government promise that it will be directly accepted as payment for taxes, and to settle judgments in it's courts. That's a lot of backing, not a triviality that can be dismissed.
- Karunamon 8y agoBut you can't pay your US taxes or judgements in Yen or Euros either. In that way, it's no different from the standpoint of a US citizen to any other alternate currency.