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HCuser3

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01/08/20

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Post #: 46231884
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Originally posted by jkim78: ↑

Not sure why my post was moderated, but whatever.

No, it has nothing to do with adoption, and no it has nothing to do with being behind the times.
And to compare government block chain initiatives with crypto is... well... it shows you are being taken for a ride by the crypto mob.
But you're not alone. Most people have no idea what crypto is, and yet many put their hard earned money into it.

All block chain is - is a ledger database with a signing feature.
Nothing more, nothing less.

Ledger databases, where accounts are held, are nothing new.
What really matters is what the entries in there represents.
Entries in the RBA's ledger database is money, because (really dumbing it down, although it's far more complicated than this-as the fundamentals of what money is must be discussed) they're the legal caretakers of money in Australia.
Entries in ANZ's ledger database is money because they have been authorized by RBA through their ADI.
Entries in Joe Blogg's database is not money despite him telling everyone's neighbour that it is...
And entries in the bitcoin ledger is not money despite what the horde of gullible "investors" seem to believe.

The big crypto scam is that anyone anywhere can put stuff in some arbitrary public database and it will have value (i.e. by mining coins).
And anyone can start a new database, and create more money (referred to as an ICO)!

Creating an instance of an online ledger db does not create money.

This is very different from players like ripple, IBM, etc who are using a closed entry model restricting who can put what in the database.
That's NOT crypto - well, not in the sense that bitcoin is.
That's just a clunky way of implementing a distributed db in-house, like loyalty credits and so on.
I say clunky, but it's not entirely without merits... but I digress.

So no, it's not that I'm behind the times.

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Cool. Nice lengthy download.

ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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Cool. Nice lengthy download.

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