26-12-2017, 09:50 AM
(26-12-2017, 09:22 AM)yeokiwi Wrote: [ -> ]How about some skepticism on blockchain?
https://www.kaspersky.com/blog/bitcoin-b...ues/18019/
At the current state, blockchain is unable to be revolutionary. It hogged too much resources to do so little.
For a typical company, it is still much cheaper and faster to open an account with a bank to do business.
The decentralized concept is probably the most deceptive since the bulk of blockchain computation is owned by a few pools of computers. Ironic isn't it.
Last but not least, with such a huge gyration of cryptocurrency value, they cannot be used for transactions. A company that accepts cryptocurrency for payment may be staring at high losses when the value drops the next day.
So, at the current state, cryptocurrency is just like the tulips mania 500 years ago. Cryptocurrency is only useful for speculation now.
yup well said...
Blockchain just another "software platform" for electronic transactions. Banks already have their own platforms for transactions. Whether or not they want to use Blockchain will be a cost and efficiency equation. It is just another platform.
I am actually quite surprised they allowed futures trading in Bitcoin. But then again, the Americans are still allowing a resurgence in the synthetic CDO market that was responsible for the last GFC so go figure....