Aww man, that's just criminal. These banks are going to go extinct.

You go to Genesis Trading or Cumberland Mining who telephones one of their nice clients looking to buy. You deposit your coins with them. Their client pays Genesis Trading. When the money is cleared everyone gets what they want.

Plus you get a nice man or woman to hold your hand throughout who won't freeze your arse because you're nothing more than an anonymous reference number on a status page.

single digits tomorrow

There goes my champagne wishes and caviar dreams.

Back to Old Milwaukee and shrimp-flavored ramen.  

Morgan transferred a stock to Schwab but forgot to clear it. Doesn’t that mean it’s listed in both Morgan and Schwab? In fact, didn’t you just double-count and double-value that share? Suppose you fail to clear just a few each day. Before long, compounding the double ownership leads to pension funds owning 2% fake shares, then 5%, then 10%, until stock market and the national value itself becomes unreal. And how would you unwind it?

The only way out without collapse is to build an honest system parallel to the existing system and slowly transfer assets from the rotten, sinking ship to the new one. The captains of the old ship may not like it, but look at the incentives. No one can tolerate the old ship except the pirate captain; even the crew, the stock traders, don’t want or control it any more.

Ethereum needs to fix the network saturation problems before going bigger. With current state will turn in bitcoin2 with expensive and slow transactions.

Tone's recent interview with Ugly Goat explains the whole scenario well:

https://www.youtube.com/watch?v=gXUEfZY4zRk

Is it time to panic tho?

Timing is a bit awkward given CBOE trading is based only on the Gemini price and starts in just over 24 hours.