If the MSTR gain were more than a one trick pony the stock would be doing better. To your point about JPM...if their crypto goes mainstream it will be the death blow for most others in the space. Nobody will be able to compete with the cost and price structure that JP will offer.
Them entering the game is awful for your plays IMO...people who know little (and that is most) if they have to choose will pick a name with a company they know and that they can go into an office and conduct their business...not have ten accounts with separate verification and passwords and wonder if their monetary value is at risk for theft or where the crap it sits...crypto for the masses is way way way too complex.
You should not be applauding the big fish coming in, they will devour your little fish and leave nothing behind.
Nah, the decentralized aspect will always be a feature.
If JP Morgan was smart they would create a stable coin and a wallet that operates like USDT. Allows their customers to interact with exchanges and come home for safety.
And they would also offer fully functioning BTC and ETH wallets.
They could never assemble a team of developers like the teams that are working on Bitcoin, Ethereum, Polkadot, Cardano, etc.
You’re coming from the point of view that the US government could issue a stable coin and that would destroy crypto. That’s false. We basically already have that available with today’s banking and credit card infrastructure.
You consistently miss the number one thing about crypto. With BTC, it’s the fixed supply. And with ETH and other platforms, it’s decentralization.
I don’t think you fully understand what is being built on Ethereum. Or that the person that built Ethereum saw the flaws of Ethereum and created Polkadot.
This stuff is here to stay.
Any developers JPMORGAN can acquire are people that worship the knowledge of people like Gavin Wood, Vitalik Buterin, Adam Back, Riccardo Spagni, etc.
A young superstar developer is going to work for Binance, Huobi, Coinbase, Ethereum, Polkadot, the Bitcoin Foundation etc or create their own project.
Although the major exchanges are starting to viewed in the same light as the centralized banks.
They will not work for a major centralized bank.
This new generation is a lot smarter than that. There’s a major shift happening.
Overlay the DXY and bitcoin, charts are the same today.
I think there is only enough room for a few players in this game...so the tech does not really have greatest impact. So if a whale gets into the game like JP and they get mass acceptance then that will be the winner and the losers end up going away. I think even now there are too many players serving no purpose with regards to the end result.
How would JPMORGAN be the winner? Do you think they’re going to create a platform for decentralized finance?
If they were smart they would just create a basic exchange and give their customers the option of entering into the world of DeFi. The world of DeFi will be built on projects like ETH and DOT. The platforms will certainly not be built by traditional banks.
If people wanted to use platforms used by traditional centralized banks........
People give ETH a hard time because something like 25% of their nodes run on the cloud provided by Amazon Web Services.
Eventually crypto will be off of the clouds provided by companies like Amazon, Alibaba, Google and the platforms will be fully independent (self-sovereign).
This all gets a little too technical for me but I have an idea of the overall picture and JP Morgan doesn’t have a shot.
The only thing they can do is build a platform so their customers can interact with the DeFi space in the future.
The DeFi space is like when the television first came out. The producers didn’t really know what to do ... so the they basically put the radio on the television ... and then sitcoms etc came.
We’re currently in the early stages. It’s hard to make sense of it.
But make no mistake, it’s a game changer.
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