Vitalik's suggestion that Eth merge with Bitcoin Cash is not helping with clarity either.

It can certainly replace some of their function, almost immediately. On the other hand, the oft touted promise of blockchain removing the middle man from any and all transactions is not realistic. Because that would require both sides of the peer to peer transaction to be expert level knowledgeable. This is not going to happen, in for example divorce agreements with lots of property, large real estate purchases, business mergers, etc.

Blockchain is a double edged sword, the freedom it allows requires the users to be far more educated than most of them are now. Because of that middlemen such as banks will always have a place where we give them money in trade for their expertise in shepherding us through the agreement in question. But I feel their traditional role will be reduced for sure.

That just means the general public still isn't ready to mass adopt crypto.

Here's what he said earlier in June...
https://home.treasury.gov/news/press-releases/sm713
partial transcript...
Virtual Assets

One of the most valuable contributions of this plenary is the regulation of all virtual assets, especially cryptocurrencies.  I commend efforts by the FATF to address the growing misuse of cryptocurrencies and other virtual assets by money launderers, terrorist financiers, and other illicit actors.  I am proud to note that under the co-chairmanship of Spain and Singapore, you have delivered on the ambitious goal of addressing these risks in a number of ways.

The Interpretive Note adopted this week includes virtual asset standards that are binding to all countries.  By issuing updated guidance, the FATF is enhancing financial transparency and setting expectations.  This will enforce a level playing field for virtual asset service providers, including cryptocurrency providers, and traditional financial institutions.

Under these new  measures, virtual asset service providers will be required to implement the same AML/CFT requirements as traditional financial institutions.  They will need to:
•Identify who they are sending funds on behalf of, and who is the recipient of those funds; 
•Develop processes where they are required to share that information with other providers of virtual assets, and law enforcement; 
•Know their customers and conduct proper due diligence to ensure they are not engaging in illicit activity; and,   
•Develop risk-based programs that account for the risks in their particular type of business.

By adopting the standards and guidelines agreed to this week, the FATF will make sure that virtual asset service providers do not operate in the dark shadows. This will enable the emerging FinTech sector to stay one-step ahead of rogue regimes and sympathizers of illicit causes searching for avenues to raise and transfer funds without detection.
•We will not allow cryptocurrency to become the equivalent of secret numbered accounts.   
•We will allow for proper use, but we will not tolerate the continued use for illicit activities.
•In the U.S., I have convened a working group with the Federal Reserve and other regulators to make sure we keep the use of digital assets for legitimate use only.
•I encourage you to do the same in your markets.

We must work together to ensure that virtual assets are no longer a safe haven for illicit actors to end-run around established AML/CFT safeguards.

The United States welcomes responsible innovation, including new technologies that may improve the efficiency of the financial system and expand access to financial services.  Yet we must maintain our financial system’s integrity and protect it from abuse.  That is why the United States has in place a comprehensive AML/CFT framework for regulating, supervising, and taking enforcement actions relating to virtual currency and other digital assets. 

The United States subjects the same AML/CFT controls to covered providers and activities as any other U.S. financial institution.  For example, service providers must register with FinCEN.  They must also institute an AML program, and recordkeeping and reporting measures, including filing suspicious activity reports.

Lawd I hope not.

It may not be the fault of the gun if some mental nutjob shoots 100 people with it. However, the technological advance of the gun means it is actually possible for a nutjob to kill 100 people at once, whereas with a knife the damage would be far less. You can't expect a scorpion to not be a scorpion, and many people are just bad to their core so don't give them a gun or the financial equivalent.

Jersey

Aren't many of those companies building their tokens on the back of the Ethereum network? Seems Eth will be around for awhile.

I dunno, the Roubini guy seems like he'd be a powerful crypto booster if he ever gets to the point that he understands the technological impact of blockchain, whereas the Hayes guy seems kind of like a used car salesman. I don't share Roubini's pessimistic view of crypto (obviously) but it seems kind of stupid to dismiss his words out of hand, the man has spent his life studying markets.

Yay, another flat earth thread.

Yes, humans have landed on, walked on, driven rovers on, sent robots to, looked at with telescopes, brought back samples from, left equipment on, the moon.

Most people telling you we haven't are in one or more of these categories
1) mentally ill
2) trolls out for their own entertainment
3) religious fundamentalists

Those types of people are not worth engaging with, you just get drawn into their funhouse mirror world where they continuously move goal posts, redefine technical definitions to suit their own personal ideas, and generally spout nonsense that they try to sell as logic.

Here's a question for you flat earthers (which I won't see the answer since I've got most of them on ignore)…
Why is it that a large percentage of the flat earther/conspiracy contingent are also alt-right racist pieces of trash?

Would you take any financial advice from someone who thinks 400,000 NASA workers are all in on the 'scam'. Dang, still waiting for my lambo for being in the secret scientist cabal!

Threads like this are chiefly useful to help populate the ignore list.

Don't worry, can't contain the coins forever.

This bull market is fantastic. Must be that gas mask kid magic.

I think the never ending stream of exchange hacks and theft of coin is doing far more to kill momentum than anything Commandant Bonespurs has to say.

Looks like just another exploiting artists 'pay to play' scam from the music industry middle men, same as it has been for decades, except now with 'blockchain', lol. Isn't ISINA already a going concern since 2014? What makes the blockchain version special, is it just the one-off talent search?

I think it's already accounted for in the current price and smart people will sell into the hype.

I wouldn't count on a tv reality star with 4 bankruptcies to be aware of much of anything but how to speed dial his lawyer.

Trump can't stop bitcoin or crypto in general. However, he can stop (or try to) the gateway between fiat and crypto by massively regulating the centralized exchanges, making it practically if not technically illegal for any citizen to transfer USD to an exchange. And that might work for a time, but with decentralized exchanges coming on line I don't see how even that would work long term. There'd have to be an outright ban on all crypto in the US and even considering that miniscule possibility it would just be the US.

Existing coin holders will suffer a lot more if there is no interest at all. We are nearly there, go look at how deep each side of the bid/ask is on coinexchange.

I'm a big fan of Ethereum, but it does seem to be having a difficult time making inroads into adoption. They sort of have the first mover advantage, 2nd only to bitcoin, but there are so many competing ideas that I think the Ether team really has to bring their A game to the 2.0 release for it to survive long term. I'm rooting for them but it's not a certain thing.

Hopefully his administration doesn't decide to go hard after the exchanges by piling on so many regulations it becomes impractical and for all intents and purposes shuts down the fiat to crypto bridge. Trump may have the attention span of a fruit fly but the people that happily get on their knees for him do not and they can cause some real damage.