Re:Realtime Bitcoin
by kobeya on Sunday May 28, 2017 @02:36PM
(#14435525)
The hashing power creates trust in settlement. Much of the financial industry is also about trusted settlement through other means. They are in fact quite comparable in that sense.
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You are right that the hashing power basically produces trust in settlement.
I guess where we disagree is in how much of a proportion effort in finance is spent on producing that kind of trust vs other activities (like eg capital allocation, or hunting for arbitrage activities etc).