News for hackers. Stuff that matters.

A comment on SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]. Parent comment

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by baddox on Friday March 10, 2017 @07:42PM (#13843404)
If an official decision from the agency that regulates financial assets for the most powerful economy in the world doesn't count, then when does "something about a currency actually change"?
[ Parent | on HN ]
Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by kolinko on Friday March 10, 2017 @11:23PM (#13844211)
Anything that prevents Bitcoin from:

- being a good anonymous currency

- being a truly global currency for irreversible online transactions

- being a currency that's easily programmable

That's the three main use cases for Bitcoin. There are contenders for #1 (Monero, Dash), and for #3 (Ethereum). For #2 it's still the easiest because of the huge network effect behind it.

Traditional currencies can't compete with crypto for neither of the space. They are attached to systems that prevent transactions from being anonymous, global, irreversible or programmable.

[ Parent | on HN ]
Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by rocho on Saturday March 11, 2017 @10:52AM (#13845783)
There's nothing that prevents Bitcoin from being a good anonymous currency. It simply isn't.

Its design allows it to be pseudo-anonymous at best, while Monero, for instance, has anonymity built in. Therefore if one seeks a truly anonymous currency they cannot possibly find it in Bitcoin.

[ Parent | on HN ]