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On 10/01/2019 at 00:20, stokiescum said:

it will be banned then they will say thats a good idea in a few years and create there own,

I fear you are probably right. The problem with that is that is the absolute worst outcome. All monetary transactions recorded on a blockchain. This is why we should support bitcoin IMO.

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50 minutes ago, Green Devil said:

I fear you are probably right. The problem with that is that is the absolute worst outcome. All monetary transactions recorded on a blockchain. This is why we should support bitcoin IMO.

That doesn't make sense.  What you're saying is 'if we're going to have a currency where all transactions are recorded, I'd prefer one which is run by poorly defined and controlled consortia largely located in China (whose employees drive fancier cars that I do), over one run by people in suits in London (who drive fancier cars than I do)'.

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3 hours ago, dgul said:

That doesn't make sense.  What you're saying is 'if we're going to have a currency where all transactions are recorded, I'd prefer one which is run by poorly defined and controlled consortia largely located in China (whose employees drive fancier cars that I do), over one run by people in suits in London (who drive fancier cars than I do)'.

I was thinking more along the lines of cash is obsolete as all currency is now blockchain fiat. Still money printing controlled by the central banks. But now all tranasactions are traceable as there is no longer 'cash'

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32 minutes ago, Green Devil said:

I was thinking more along the lines of cash is obsolete as all currency is now blockchain fiat. Still money printing controlled by the central banks. But now all tranasactions are traceable as there is no longer 'cash'

Ah -- got it (i think).  The options are then:

  • Independent crypto -- traceable, but 'printing' is well defined in advance, can't be manipulated and will stop at some point.
  • Central bank crypto -- traceable and they can print what they like to keep them in business Porsches.

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5 hours ago, dgul said:

Ah -- got it (i think).  The options are then:

  • Independent crypto -- traceable, but 'printing' is well defined in advance, can't be manipulated and will stop at some point.
  • Central bank crypto -- traceable and they can print what they like to keep them in business Porsches.

Yep. Thats it. All the disadvantages and none of the advantages.

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I saw a "physical Bitcoin" in a junk shop at the weekend for £18. About the size of a 1oz coin and with a QR code printed on it (which, I suppose, could lead to a wallet with thousands in it ;)). Almost bought it just as a souvenir of the madness last year. Bought an antique mirror instead.

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