Re:Using Cryptocurrency Smart Contracts to Sell Shares of My...
by root_axis on Friday November 17, 2017 @03:29PM
(#15725717)
> What are the costs of maintaining a system of banks capable of acting as a trusted custodian in such a transaction, covering every jurisdiction the globe over
Transaction for transaction the banking system is orders of magnitude cheaper.
> Have you amortized the cost of aircraft carriers, diplomats, social and class mobility, the set of externalities that ultimately end up reconciled through war and collapse
This is totally absurd. Bitcoin has no impact on the existence of aircraft carriers, diplomats, and social/class mobility. The class mobility line is particularly laughable as it pertains to a technology that would enshrine early adopters as defacto oligarchs.
Transaction for transaction the banking system is orders of magnitude cheaper.
> Have you amortized the cost of aircraft carriers, diplomats, social and class mobility, the set of externalities that ultimately end up reconciled through war and collapse
This is totally absurd. Bitcoin has no impact on the existence of aircraft carriers, diplomats, and social/class mobility. The class mobility line is particularly laughable as it pertains to a technology that would enshrine early adopters as defacto oligarchs.