Sep 16th from NYC: No major news again but a few interesting developments in the crypto world, here is the TLDR:
1. Mr. Robot – We once again talk about Mr. Robot and the attempt by the banks in the show to eliminate cash. This is no different than all other stories of this type from Federal Banks around the world. There are 3 reason they want to eliminate cash:
a. You can set any monetary policy you like (ex: Negative Interest Rates) and there is nothing people can do financialy to object.
b. If there is no cash, there can never be a run on the bank and all the pictures of people in line for ATM’s will be left to history
c. In the eyes of Government, we are all Money Launderers and Tax Evaders, so to them, the existence of cash is what has prevented them from solving all the world’s problems.
2. Ripple gets $55M – The concept of Ripple having a free floating value token to do their service is a cross between Scam and just plain stupid…. More money down the toilet.
3. Paul Sztorc Blasts Altcoins – I respect Paul’s position and agree with him 98% of the time, the only thing I would alter in this case is that it’s not Satoshi others are disrespecting, it’s the idea that PoW is no a requirement for a Blockchain.
4. Circle iMessage – Since I have never used Circle nor an iPhone this is hard for me to comment on. I did my best but probably got a bunch of things wrong.
Bonus: R3CeV has no idea what they are doing. I’m also predicting that the hype over anon coins is about the end.