7 ms·

$105B Electronics Giant Sony to Launch New Bitcoin Exchange

43 points by austinallegro 2y ago

deleted 2y ago
[deleted]
ado__dev 2y ago
What year is it?
- OJFord 2y ago
  Maybe they heard Masayoshi Son's on the lookout for his next big play..
- mandmandam 2y ago
  Right? I'm really not sure there has ever been such insane hype around such outdated technology. The tech for zero mining, zero fee, sub second transfer, and 'quantum resistant' decentralized transfer has been around for like 8 years. This is like building a whale-oil station next to a solar farm. The fuck you doing Sony?
  - TheDudeMan 2y ago
    Bitcoin's strength is censorship-resistance.
    - mandmandam 2y ago
      In what way do you think BTC has an advantage over any other cryptocurrency in this regard?
      - TheDudeMan 2y ago
        Most cryptocurrencies are controlled by a small number of insiders. Bitcoin's high level of decentralization makes this not the case. Although the increasing centralization of mining, mining pools, and mining hardware is becoming a concern.
        Yizahi 2y ago
        So you are saying that literally garbage features like Runes and Ordinals were introduced in the codebase by some voting or other democratic decentralized process? Or was it done by some small cartel of people controlling this system?
        TheDudeMan 2y ago
        Those are unfortunate, IMO. But miners would support those because they increase transaction fee revenue. Hopefully they'll get priced-out of the fee marketplace eventually, either by the network getting more legitimate use (moving money instead of creating NFTs) or by people losing interest in NFTs.
    - 0xcde4c3db 2y ago
      The foremost thing about Bitcoin that is censorship-resistant is the ledger itself, which is a boon to anyone interested in tracking transactions.
      - TheDudeMan 2y ago
        Yes, it is a public ledger. This ensures that no inflation is occurring (other than the expected decreasing miner subsidy).
        0xcde4c3db 2y ago
        It also ensures a rich source of data for those who are interested in punishing publishers of wrongthink (aka "censors"). I'm not sure what inflation has to do with censorship.
  - DaoVeles 2y ago
    Being Sony. Unfortunately, the Sony of the 1960-2000's seems to long gone now. Apart from Playstation and their headphones, they just don't have the mind share or innovative spark any more. And even Playstation is starting to a look a little odd as they have continued to moved exclusives over the PC. Maybe their movie businesses are still doing well?
datavirtue 2y ago
Strokes beard.
cheema33 2y ago
And Sony's decline continues. This move reeks of desperation. I used to buy a lot of Sony products. Lately. Zilch. I know they still make some movies and PS5. But, man, they used to be so much bigger than that.
- pitaj 2y ago
  They make good headphones too. I think that's the only Sony hardware in my house.
  - dylan604 2y ago
    The only Sony product left in my house. The iPod/iPhone made the Walkman obsolete, and that was way back then. I had a PS3, but only because it was the best Blu-ray player on the market that also just happened to play a few games (as used in my house). After that, nothing. Not even a cinema camera any more either. Sony is the ghost in the shell at this point.
  - masspro 2y ago
    I bought a Sony TV a couple days ago. It’s just a Samsung panel identical to a current Samsung TV but placed into Sony innards. Which means no stupid terrible Samsung software! That’s really why I chose it. So seeing this comment tree points out the irony that the value of Sony for me was that it’s essentially repackaging someone else’s known-good product.
- slavaukro123777 2y ago
  Japan is utterly desperate. They are selling out the whole country to tourists, investment funds, and whomever has a penny to spare. The political class is going for broke, grasping at every penny they can now, before the mountain of debt comes crashing down, or the population has enough of hidden immigration, inflation, and tourists driving go-carts on the streets of Ginza.
  - DaoVeles 2y ago
    While that seems to be a bit of a dim characterization of the place, who isn't trying to do that? Seems like we are in the last decade or two of trying an accounting trick possible to ignore the grim reality of growth based economics. Cannot go on forever.
floren 2y ago
At last we can declare cryptocurrency truly dead.
- TheDudeMan 2y ago
  $2.3T market cap seems like a lot for a dead thing. Market cap is crude metric for anything, but still. https://coinmarketcap.com/charts/ https://coinmarketcap.com/charts/
nelsonfigueroa 2y ago
...why? I mean I guess the primary reason is to make money but still...why now?
- DaoVeles 2y ago
  Probably just trying ANYTHING to see what sticks.
  - beefnugs 2y ago
    It must have been some nft craze they tried to latch onto years ago and finally corporate fatassery moooooves slowly But that can't really be it either because bitcoin is generally not NFT, that would be ethereum... maybe they somehow got a bunch of the mtgox pay out through many rootkit installations? "bad music consumer! we are taking your bitcoin as punishment!"
poopsmithe 2y ago
Wow, congrats Sony! I watch videos of a 50 year old Japanese man who thinks his life is meaningless because his financial situation dictates he will have to work around 30 more years to pay off his debts. Government debt steals from future generations. Inflation, Quantitative Easing etc. steals the value of money from everyone. Bitcoin is the one money Government can't touch, and I think this is a great sign of hope for Japan.
- brokenmachine 2y ago
  The govt can definitely touch bitcoin if you ever want to cash it out, or have ever connected a wallet to your irl identity. It's the most traceable money in history. Monero ftw.
  - tosl559 2y ago
    Can you point on the blockchain to the lightning network payment I’ve just sent?
    - brokenmachine 2y ago
      No, but the government can if you give them an incentive.
      - tosl559 2y ago
        Let the Bitcoin privacy arms race begin.
brink 2y ago
If the PSN is anything to go by, this is primed to be the next Mt. Gox.
dylan604 2y ago
when you install the wallet, does it also come with a free rootkit?
crazygringo 2y ago
"$105B Electronics Giant Sony" is such a bizarre thing to put in a headline. Everybody knows who Sony is. And their current exact market cap is utterly irrelevant to the article. Is this some type of subliminal editorial ploy to (falsely) suggest that the exchange would similarly handle hundreds of billions, or something?
- m3kw9 2y ago
  Bitcoin price pump when ever they can
- ProAm 2y ago
  In actuality the headline was probably written by AI.
- tocs3 2y ago
  It is a little strange. I had to stop and think if there is a non $105B Electronic Giant.
sholladay 2y ago
Satoshi got bored of retirement.
dylan604 2y ago
Hopefully, the security team for the crypto play isn't the same security team from their studio content: https://en.wikipedia.org/wiki/2014_Sony_Pictures_hack https://en.wikipedia.org/wiki/2014_Sony_Pictures_hack
awad 2y ago
I don't know if this will be the thing that changes the narrative for Sony but I do know that, historically, Sony have been quite resilient over time.
m3kw9 2y ago
This exchange always existed so it ain’t like it’s new

43 points by austinallegro 2y ago

deleted 2y ago

[deleted]

ado__dev 2y ago

What year is it?

OJFord 2y ago
Maybe they heard Masayoshi Son's on the lookout for his next big play..
mandmandam 2y ago
Right? I'm really not sure there has ever been such insane hype around such outdated technology. The tech for zero mining, zero fee, sub second transfer, and 'quantum resistant' decentralized transfer has been around for like 8 years. This is like building a whale-oil station next to a solar farm. The fuck you doing Sony?
- TheDudeMan 2y ago
  Bitcoin's strength is censorship-resistance.
  - mandmandam 2y ago
    In what way do you think BTC has an advantage over any other cryptocurrency in this regard?
    - TheDudeMan 2y ago
      Most cryptocurrencies are controlled by a small number of insiders. Bitcoin's high level of decentralization makes this not the case. Although the increasing centralization of mining, mining pools, and mining hardware is becoming a concern.
      - Yizahi 2y ago
        So you are saying that literally garbage features like Runes and Ordinals were introduced in the codebase by some voting or other democratic decentralized process? Or was it done by some small cartel of people controlling this system?
        TheDudeMan 2y ago
        Those are unfortunate, IMO. But miners would support those because they increase transaction fee revenue. Hopefully they'll get priced-out of the fee marketplace eventually, either by the network getting more legitimate use (moving money instead of creating NFTs) or by people losing interest in NFTs.
  - 0xcde4c3db 2y ago
    The foremost thing about Bitcoin that is censorship-resistant is the ledger itself, which is a boon to anyone interested in tracking transactions.
    - TheDudeMan 2y ago
      Yes, it is a public ledger. This ensures that no inflation is occurring (other than the expected decreasing miner subsidy).
      - 0xcde4c3db 2y ago
        It also ensures a rich source of data for those who are interested in punishing publishers of wrongthink (aka "censors"). I'm not sure what inflation has to do with censorship.
- DaoVeles 2y ago
  Being Sony. Unfortunately, the Sony of the 1960-2000's seems to long gone now. Apart from Playstation and their headphones, they just don't have the mind share or innovative spark any more. And even Playstation is starting to a look a little odd as they have continued to moved exclusives over the PC. Maybe their movie businesses are still doing well?

datavirtue 2y ago

Strokes beard.

cheema33 2y ago

And Sony's decline continues. This move reeks of desperation. I used to buy a lot of Sony products. Lately. Zilch. I know they still make some movies and PS5. But, man, they used to be so much bigger than that.

pitaj 2y ago
They make good headphones too. I think that's the only Sony hardware in my house.
- dylan604 2y ago
  The only Sony product left in my house. The iPod/iPhone made the Walkman obsolete, and that was way back then. I had a PS3, but only because it was the best Blu-ray player on the market that also just happened to play a few games (as used in my house). After that, nothing. Not even a cinema camera any more either. Sony is the ghost in the shell at this point.
- masspro 2y ago
  I bought a Sony TV a couple days ago. It’s just a Samsung panel identical to a current Samsung TV but placed into Sony innards. Which means no stupid terrible Samsung software! That’s really why I chose it. So seeing this comment tree points out the irony that the value of Sony for me was that it’s essentially repackaging someone else’s known-good product.
slavaukro123777 2y ago
Japan is utterly desperate. They are selling out the whole country to tourists, investment funds, and whomever has a penny to spare. The political class is going for broke, grasping at every penny they can now, before the mountain of debt comes crashing down, or the population has enough of hidden immigration, inflation, and tourists driving go-carts on the streets of Ginza.
- DaoVeles 2y ago
  While that seems to be a bit of a dim characterization of the place, who isn't trying to do that? Seems like we are in the last decade or two of trying an accounting trick possible to ignore the grim reality of growth based economics. Cannot go on forever.

floren 2y ago

At last we can declare cryptocurrency truly dead.

TheDudeMan 2y ago
$2.3T market cap seems like a lot for a dead thing. Market cap is crude metric for anything, but still. https://coinmarketcap.com/charts/ https://coinmarketcap.com/charts/

nelsonfigueroa 2y ago

...why? I mean I guess the primary reason is to make money but still...why now?

DaoVeles 2y ago
Probably just trying ANYTHING to see what sticks.
- beefnugs 2y ago
  It must have been some nft craze they tried to latch onto years ago and finally corporate fatassery moooooves slowly But that can't really be it either because bitcoin is generally not NFT, that would be ethereum... maybe they somehow got a bunch of the mtgox pay out through many rootkit installations? "bad music consumer! we are taking your bitcoin as punishment!"

poopsmithe 2y ago

Wow, congrats Sony! I watch videos of a 50 year old Japanese man who thinks his life is meaningless because his financial situation dictates he will have to work around 30 more years to pay off his debts. Government debt steals from future generations. Inflation, Quantitative Easing etc. steals the value of money from everyone. Bitcoin is the one money Government can't touch, and I think this is a great sign of hope for Japan.

brokenmachine 2y ago
The govt can definitely touch bitcoin if you ever want to cash it out, or have ever connected a wallet to your irl identity. It's the most traceable money in history. Monero ftw.
- tosl559 2y ago
  Can you point on the blockchain to the lightning network payment I’ve just sent?
  - brokenmachine 2y ago
    No, but the government can if you give them an incentive.
    - tosl559 2y ago
      Let the Bitcoin privacy arms race begin.

brink 2y ago

If the PSN is anything to go by, this is primed to be the next Mt. Gox.

dylan604 2y ago

when you install the wallet, does it also come with a free rootkit?

crazygringo 2y ago

"$105B Electronics Giant Sony" is such a bizarre thing to put in a headline. Everybody knows who Sony is. And their current exact market cap is utterly irrelevant to the article. Is this some type of subliminal editorial ploy to (falsely) suggest that the exchange would similarly handle hundreds of billions, or something?

m3kw9 2y ago
Bitcoin price pump when ever they can
ProAm 2y ago
In actuality the headline was probably written by AI.
tocs3 2y ago
It is a little strange. I had to stop and think if there is a non $105B Electronic Giant.

sholladay 2y ago

Satoshi got bored of retirement.

dylan604 2y ago

Hopefully, the security team for the crypto play isn't the same security team from their studio content: https://en.wikipedia.org/wiki/2014_Sony_Pictures_hack https://en.wikipedia.org/wiki/2014_Sony_Pictures_hack

awad 2y ago

I don't know if this will be the thing that changes the narrative for Sony but I do know that, historically, Sony have been quite resilient over time.

m3kw9 2y ago

This exchange always existed so it ain’t like it’s new