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A comment on Wall Street rethinks blockchain projects as euphoria meets reality. Parent comment

Re:Wall Street rethinks blockchain projects as euphoria meet... by djyaz1200 on Thursday March 29, 2018 @12:08PM (#16708147)
Good point. Having a strong 3rd party intermediary moderating/backing transactions is a feature not a bug. This is why people bank with JP Morgan and similar huge banks. Although they charge fees you do get something for the money. They are governed by laws, have physical locations, people to talk to, fraud prevention and raw financial, legal, and regulatory power. I have no love for them but I believe they will guard my money effectively.
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Re:Wall Street rethinks blockchain projects as euphoria meet... by ftlio on Thursday March 29, 2018 @12:19PM (#16708252)
You're probably referring to a strong 3rd party intermediary as the aggregate of our financial system when you refer to its regulatory power here, but that it reads like the bank itself has regulatory power is the critique of money provided by Bitcoin in a nutshell. Regulatory capture IS the problem of scalability with our monetary system. Bitcoin exists to prove this.
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Re:Wall Street rethinks blockchain projects as euphoria meet... by chrisco255 on Thursday March 29, 2018 @12:16PM (#16708230)
Did 2008 teach us nothing?
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Re:Wall Street rethinks blockchain projects as euphoria meet... by michaelchisari on Thursday March 29, 2018 @12:43PM (#16708502)
By cryptocurrency standards, 2008 was any given Tuesday.
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Re:Wall Street rethinks blockchain projects as euphoria meet... by mjmj on Thursday March 29, 2018 @01:02PM (#16708691)
Trusting banks, not comparing crashes.
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Re:Wall Street rethinks blockchain projects as euphoria meet... by vkou on Thursday March 29, 2018 @02:03PM (#16709391)
The problem in 2008 was the investment, not the deposit arm of banks.

Bitcoin has had problems with both the investment, and the deposit arms. Most ICOs are pure fraud, and i've lost count of the number of robbed exchanges.

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Re:Wall Street rethinks blockchain projects as euphoria meet... by abakker on Thursday March 29, 2018 @01:26PM (#16708966)
2008 was not really a question of trusting banks in a way that our savings were harmed. It was more that our investments were harmed. Separating bank liability for either of those things is hard, but it is not a simple case to assign all the blame on them.
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