![Ryan Pietz [⚡🧢]](https://pbs.twimg.com/profile_images/248797347/72_normal.png)
It strikes me from watching this incident that there’s no shared definition of ‘cryptocurrency’
Correct. JPM Coin and its near-twin the Petro lack the predominant source of value that distinguishes cryptocurrencies from bank money: trust minimization.https://twitter.com/techieappy/status/1096138232188882944 …
-
-
-
It's another word or phrase in this business that many a dishonest huckster feels that it's perfectly OK to re-apply to their own very inferior thing.
-
Tweet unavailable
-
Yes, but intelligent people who are motivated to learn about Bitcoin already know the answers to these pseudo-objections and it's not worth my time.
-
This Tweet is unavailable
New conversation -
-
-
Nick do you have any opinion on the eCurrency fiat central bank digital currency? I anticipate skepticism, but in the spirit of verification, google searches didn't show any results. I'm checking it out as part of learning the larger ecosystem. Cheers.
-
Why? The Federal Reserve and practically every other central bank already issue their currency in digital form. If the idea is for a retail payment system, generally speaking central banks don't know how to do that.
-
Yeah, I was directed there after asking if MMT had any proof of concept cryptocurrency like Bitcoin is for Austrians, so I guess I asked for it :-) The real problem for me though is the gross centralization. We don’t need more state power. Thanks!
-
Ugh you are pursuing too many rats down too many ratholes my friend.
-
Only for a couple days, so that I understand the MMT side of the political debates. I’m about settled on it now :-)
End of conversation
New conversation -
-
-
Exactly. They are making a box and telling people they can have their digital currency inside the box. The point is that there doesn't need to be a box.
-
Great simile!
- End of conversation
New conversation -
-
-
I’m not sure they actual need trust minimization. Their client will be the one using JPM Coin and they already trust them...
-
All this hype and they will only have one customer?
-
Well,JP Morgan is the largest bank in the world, so their customer base is ok. Once wholesale customer that are not with them see the benefit of JPMcoin in comparison to SWIFT they will move to JPM. Those customer already trust the bank why would JPMcoin need trust-minimization?
End of conversation
New conversation -
-
-
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
hey Nick, when you coming back to Guatemala?
@UFMed is a beacon of freedom in Latin America.Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
buuuuurn
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Correct. The JPMCoin is a distraction as it only benefits the Enterprise and streamlines their internal processes. True cryptocurrencies benefit the masses inspite of the enterprise(s).
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.