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Crypto

Looks like the bean counters at CBA couldnt resist the temptation any longer and are going to offer Crypto services to customers.
CBA reported that it is partnering with global crypto exchange Gemini and leading blockchain analysis firm Chainalysis to provide the mechanics to make it happen. From here I guess the other mainstream banks will join the party and offer same.
For me its gambling not investing but with CBA onboard it will give it some credibility and that means more mainstream suckers will part with their money trying to make a quick buck. Of course the Banks will suggest its a legit currency and offer customers the chance to make ordinary transactions/payments via Crypto accounts to make it more appealing to average joes and probably offer some incentives but I'm sure there will be a sting from the bank when you try and convert your Crypto into real bank dollars somewhere along the line. For those who want a less volatile investment on Crypto they might want to look at an ETF like Betashares(Crypt) which will hold companies delivering the technology that drive the sector rather than the currency itself.
Crypto market is meant to have market capital at about 2.5 trillion bucks so its no surprise that banks like CBA see a few dollars to be made by offering suckers the means to trade it...

Re: Crypto

Reply #1 –
This is step one in regulation reading between the lines.  You will see a lot of people who dont want to hold it dump it shortly, and T minus a few years until people stop discussing Crypto.

I'm forecasting that quantum computing will end the usefulness of Cryptocurrency which if you look at all the coins on offer, there is absolutley no value attached to them aside from what people are willing to pay for them.  If people dont buy them, what are they useful for?

Good luck to any crypto investors, and holders.  If I were to put anything in, it would be minimal, and from what I have seen the buying and selling that occurs reeks of manipulation.
"everything you know is wrong"

Paul Hewson
 

Re: Crypto

Reply #2 –
Quote from: Thryleon – on
Good luck to any crypto investors, and holders.  If I were to put anything in, it would be minimal, and from what I have seen the buying and selling that occurs reeks of manipulation.
Yep, Quantum will initially kill and then potentially make it much much stronger in the long term, but there will be a transition period where quantum destroys the worth of the traditional distributed ledgers. In that window of opportunity some devious foreign power that is quantum capable, can you think of any, will harvest the funds and profits from the public ledgers.

In some ways this has already happened at least once, when the North Korean's pulled of the heist of the century, but that was using conventional methods of computer fraud.

Imagine if Lil-Kim gets quantum!
"Extremists on either side will always meet in the Middle!"