I think the bigger problem is that crypto is a commodity, not currency.
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Replying to @MorlockP
Dr. Keen pointed that out. Crypto is more akin to gold and silver than money. And, at least with Bitcoin, the transaction speed and energy costs are so bad it can't act scale anyway.
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Replying to @wraithburn
I agree that transaction speeds are bad but ... it already HAS scaled hugely your claims seem ill defined / non falsifiable
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Replying to @MorlockP
Dr. Keen was quite specific about the transaction speeds. 7 a second is completely insufficient. As well, needing the energy output of Belgium for just current Bitcoin amounts is insane. It won't replace money, it doesn't scale to that level.
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Replying to @MorlockP
The several hundred thousand transactions a second of U.S. dollars.
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Replying to @wraithburn
ok, cool, thx I agree with that. OTOH, BTC protocol evolves. It has before, and it will again.
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Replying to @MorlockP
That's fair. As it stands now though, we have a commodity that is expensive energywise, with a slow transaction speed relatively. Not a currency. Which, I think, is useful for comparing to what we want it to become.
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Replying to @wraithburn
you keep acting as if "currency" has some very specific definition, and a crisp boundary where if it's one inch to the left it's not, but a bit to the right and it is I reject that if I pull a Euro out of my pocket this second, is it currency? I'm in US, so no how about a $ ?
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I'm in my house, so no, nothing to spend it on. How about a dollar in a bank account, where I have to drive to the bank to pull it out and move it into checking? How about a pork future...which I can sell online in 2 seconds?
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