What are some of the parts of bitcoin you think a private fork of bitcoin, without the public chain side, can do better from a large bank's perspective compared to their current infrastructure?

International settlements between financial institutions is the biggest one. This is what Ripple is doing for a bunch of banks in Australia and Asia. Smart contracts is another. In general anything that involves more than 2 parties that all need to agree on the outcome. Consumer transactions will not really change because eftpos is already working better than any blockchain can ever hope for.

Yeah bypassing CLS would be absolutely tremendous

Anyone here see what Charile Munger said about bitcoin? He is super rich and very smart but holy **** he's so far off base on this one.

im allin again: https://www.sovereignman.com/investi...is-year-23405/

Time to make a crypto backed by babies' brains.

Explain how BTC is not a ponzi scheme and useful to people who don't need to hide or launder their money.

it's not entirely useful yet but it was originated to be useful because global currency, everyone is on the exact same plan, we're all human, seems kind of fair(insert the "world aint fair" here memes and why we need govt controlled money argument). You are your own bank, cut the middleman, banks suck. Everyone is coming around on crypto, im not sure if you are or whether you are attacking btc solely but in a nutshell I'm a bull and it's not because btc is useful but I definitely have hopes of it being useful. The more I hear about cutting the middleman and being your own bank, your own entity, setting your own contracts, all that ****, ya, sounds complicated, and things will smooth out so everyone can take part, hopefully, but crypto makes a lot of sense. The ponzi scheme/launder money can be applied to the US dollar, people do it every day and crypto is in fact easier to get caught doing stupid ****(um there is a trace, on the blockchain). US cash u hand a guy a briefcase full of bills and no one sees, there is no proof, nothing.

What do you think a Ponzi scheme is? Btc being a Ponzi scheme makes absolutely no sense to me

What do we expect long term mortgage rates to go to IF BTC really does take off and banks no longer have a **** load of idiots (there will still be money in them but no where near the amount we see today) sitting in checking/savings/CDs earning nothing?

I really don't understand why people think they're 100% gonna get away with illicit uses...It's all traceable.

We haven't even seen the full force of the IRS/DOJ/(insert international entity here)/etc on efforts to crack down on it and we already know audits and arrests have been made, worldwide.

Yeah its somewhat comical how certain aspects of Bitcoin make it seem like the worst possible currency for illegal dealings. Its like if there was a major drug deal going down and the exchange was hundred dollar bills with notes paper clipped onto them explaining where they've been for their entire history. Basically just an investigator's wet dream.

Still, the hard part is matching bitcoin addresses to people's names with enough confidence to be able to convict them in court. Also if the coins are stored offline you have to physically raid the suspected criminal's house to get them as opposed to just making a phone call to a bank or exchange.

Hang on a second lads, are you telling me Bitcoin Tumblers don't obfuscate your identity?

Buy Bitcoin > Send to single use paper wallet via Bitcoin Tumbler > Re-send to a new paper wallet via Bitcoin Tumbler (repeat X20) > Spend anonymously

Where's the leak?

Money laundering laws? Sending it through a tumbler is straight up deliberate laundering.

somehow i doubt that ppl who are profiting from illegal activities are concerned with following money laundering laws.

Illegal dealings often aren't provable, nor are they easy to find. Deliberate laundering on the other hand is easily provable. It's right there on the chain, and all you need to prove it is the chain.

What's more, you leave a trail for anyone doing wide searches for illegal activity. For example, the Dutch government was seeking to find people to investigate solely on the basis of the fact that money that they ended up with originated from a laundering service:

Not a good bet by Doug imo, given how ugly the weekly chart looks.

https://twitter.com/DougPolkPoker/st...81533012283393

"I just bet @ToneVays $10,000 that #Bitcoin will not go under $6,000 by the end of 2019. Who will win?"

I bet that someone can own 980,000 Bitcoins for 10 years and his identity could not be traced.

Sent from my Pixel XL using Tapatalk

Criminals need to wise up and start using Monero.

Sure, but can they do it after laundering fiat money?

Where is the higher value coming from if not new investors?

Also it appears a lot of people confuse blockhain with cryptocurrencies and then specifically btc.
Blockchain is a useful tech and cryptocurrencies could be useful, but btc is worse than gold.

You come in here proclaiming these "truths", as if you're some god that has all the answers. I guess you're just trying to trigger people into giving you all the arguments all over again, so you don't have to scroll up a few posts to read the discussions of these topics being had for the umpteenth time just in this thread.
With that attitude I don't see why anyone would want to have a discussion with you. You're obviously just here to act superior, and won't be open to their arguments anyway.

Well it seems I triggered you but I am not interested in a discussion based on emotions.
If someone can convince me I should invest in crypto for rational reasons, I will thank them.

I doubt anybody cares about whether you invest in crypto

I thought you wanted the price to go up? If the average person can't be convinced to invest/use it, crypto is going to have a hard time.