I love he made a distinction btwn crypto and bitcoin. Bitcoin is in a league of its own. Crypto is a security. Bitcoin is a commodity. A store of value.
There are some cryptos that are securities but the vast majority are not. The government wants to classify them as such but they really dont meet the definition. This statement shows how much you know about crypto.
Ha ok. You're probably a 40 or 50 something who watched a crypto video once and thinks they know what crypto is all about. Anyone who says everything but Bitcoin is a security either doesn’t understand crypto, doesn’t understand what a security is, or is misinformed by others who also dont know. Thats why FIT21 was passed in the house to bring clarity to all these coins and tokens (do you even know the difference?) because they dont fit into any current definition. Either way you’re obviously a crypto noob. Thats why what you think is the same thing Gary Gensler thinks. Study up.
Obviously, I touch a sore spot. No need to over react. Time will tell how these coins will be regulated and valued. BTC is considered a commodity. All other coins that I know of are an investment in a particular company that issues them. And, no I'm not a genXer.
there is literally no difference between btc and hundreds of other fixed supply currencies on blockchain, but the bankers want you to think that only one has value. Wonder why.
Not true. Actually only Bitcoin and 3 other cryptocurrencies meet even the minimum characteristics:
Proof of Work Consensus
Fixed Supply
Liquidity > $100 million/24 hours
Those are BTC, BCH, LTC and ETC. And of these, BTC has liquidity of over $14 billion per day, with its nearest competitor (BCH) all the way down at only $270 million.
All the other coins either have no significant trading market, or are crippled in some way, like having unlimited supply or using Proof of Stake.
This isn't a choice by the bankers. They are just catering to the only market that has a large enough market cap to accept the cash inflows from institutional investors.
I love he made a distinction btwn crypto and bitcoin. Bitcoin is in a league of its own. Crypto is a security. Bitcoin is a commodity. A store of value.
There are some cryptos that are securities but the vast majority are not. The government wants to classify them as such but they really dont meet the definition. This statement shows how much you know about crypto.
Actually, shows how little you know, just saying.
Ha ok. You're probably a 40 or 50 something who watched a crypto video once and thinks they know what crypto is all about. Anyone who says everything but Bitcoin is a security either doesn’t understand crypto, doesn’t understand what a security is, or is misinformed by others who also dont know. Thats why FIT21 was passed in the house to bring clarity to all these coins and tokens (do you even know the difference?) because they dont fit into any current definition. Either way you’re obviously a crypto noob. Thats why what you think is the same thing Gary Gensler thinks. Study up.
Obviously, I touch a sore spot. No need to over react. Time will tell how these coins will be regulated and valued. BTC is considered a commodity. All other coins that I know of are an investment in a particular company that issues them. And, no I'm not a genXer.
there is literally no difference between btc and hundreds of other fixed supply currencies on blockchain, but the bankers want you to think that only one has value. Wonder why.
Not true. Actually only Bitcoin and 3 other cryptocurrencies meet even the minimum characteristics:
Those are BTC, BCH, LTC and ETC. And of these, BTC has liquidity of over $14 billion per day, with its nearest competitor (BCH) all the way down at only $270 million.
All the other coins either have no significant trading market, or are crippled in some way, like having unlimited supply or using Proof of Stake.
This isn't a choice by the bankers. They are just catering to the only market that has a large enough market cap to accept the cash inflows from institutional investors.
Because BTC is decentralized. The other digital currencies are not.
Btc is highly centralized in the hands of a few hundred miners. Completely nonsense what you just wrote.
Lol...it's not centralized bc there is plenty of miners and it doesn't get issued by one central authority.