4 ms·
Crypto! 17% of the worlds GDP is spent on financial services. Software can eat it all.
by aey 7y ago
Crypto! 17% of the worlds GDP is spent on financial services. Software can eat it all.
- penagwin 7y agoI think you missed the train friend.
- aey 7y agoCrypto is the internet in 1996, and you are telling me I missed the train because SUN Microsystems is going to be the first trillion dollar company.
- pjc50 7y ago.. eventually going bust and being bought by Oracle?
- nostrademons 7y agoI think that's the point. Existing cryptocurrencies are very likely to get eclipsed by new competitors that actually solve the problems people face with them. And if you want to have a big impact on humanity, solving those problems is a fruitful area. The financial system that'll pay for our retirements likely hasn't been invented yet.
- WA 7y agoCrypto is not the internet in 1996. It's a scam. The internet never was. "Crypto is the early internet" is such a lame over-repeated phrase by crypto enthusiasts. Doesn't make it correct in any way.
- nostrademons 7y agoThat's what somebody told me about crypto in 2015, or for that matter about Google in 2009 and computer science in 2002. There's always another train, right up until the point where everybody assumes that there'll always be another train and world domination is assured. At that point, it's time to hop on another track.
- tossAfterUsing 7y agocrypto is fake money, and it will never survive government scrutiny. we need our dollars to be made by governments, not basement dwellers.
- johnmorrison 7y agoAll money is fake money, the notion of a currency is a value fiction shared among a group of people. Most governments are very young, and do not last very long historically. Central banking is a handful of decades old, cryptocurrency is one decade old. Neither the maximalists nor deniers are right at this point. It remains to be seen when/whether cryptocurrency will replace fiat currency.
- tossAfterUsing 7y agocryptocurrency will never replace gold-backed fiat currency.
- FloresHernandez 7y agoThere is no gold-backed fiat currency.
- Qasaur 7y ago“The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law' becomes apparent: most people have nothing to say to each other! By 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.” - Paul Krugman
- tossAfterUsing 7y agoPaul Krugman - the original stable genius
- omarchowdhury 7y agoPray tell which fiat currency is gold backed.