[ExI] Meltdown at Mt. Gox (Bitcoin exchange)
brent.allsop at canonizer.com
Fri Feb 21 23:47:46 UTC 2014
On Thu, Feb 20, 2014 at 9:55 PM, Gordon <gts_2000 at yahoo.com
<mailto:gts_2000 at yahoo.com>> wrote:
Brent Allsop <brent.allsop at canonizer.com
<mailto:brent.allsop at canonizer.com>> wrote:
>In Jan, I abandoned the, till that time unanimous consensus
$10,000/BTC in 2014 camp, for the Bitcoin will never achieve a
$10,000 valuation camp... And I've been selling vigorously since then.
Really? You were the guy who thought the price of bitcoin must grow
exponentially forever as a result of some mysterious "Moore's Law of
Bitcoin," and now you're selling vigorously?
No, It's specifically titled "Law of the Crypto Coin" not "Law of the
Bitcoin". It applies to the market cap of all crypto currencies. I've
always said that a superior to Bitcoin coin is the biggest risk to
Bitcoin. But, I must admit that I am very much more in your camp,
seeing more risks than just superior coins as possibilities. I figure I
should have been much more open to your good advice back then.
The idea behind "BitShares" is that coins can be like stocks in a public
organization, with real money making and distribution potential backing
them up, like real stocks of a company with PE ratios. Yet without the
need of the middle men stock exchanges and brokerage houses. Obviously
a coin that can be spent like Bitcoin and is paying real dividends from
real profits of a company, like a share of a company, is a better
investment than something that is only a coin like Bitcoin.
I see a day in the near future where all public companies move their
shares off of the major stock exchanges and go "cryptographically
public". When people go shopping, they will indicate what asset they
will want to pay with, and the sellers will indicate what asset they
want to receive, and a frictionless decentralized network, like the
ripple network, will easily and automatically find the most price
efficient way to move between the two - the buyer and seller not needing
to be aware of the automatic near free stuff that is going on
underneath. And the seller and payer's software will be integrated into
their accounting system so whatever taxes are mandated will be
automatically tallied. You will no longer need to pay a brokerage house
to keep track of all this for you, and taking an expensive piece of
every buy and sell.
What possible futures do you see?
-------------- next part --------------
An HTML attachment was scrubbed...
More information about the extropy-chat