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RE: Blockchain Technology Potential (Series 1) – A Review of a Recent PAYPAL CryptoCurrency Patent Filing and What It Means for the Future of the Technology
PayPal should consider using blockchain as soon as possible. They should stop wasting people's time with delayed transactions.
PayPal should die in a fire. (They closed my account and will not explain why, and there is no appeal procedure.)
They always do that. They normally claim that the monthly transaction limit had been exceeded.
I am an outspoken activist (with signs) on the streets of Googleville (Mountain View, CA) which is also Yahoo's home. I'd had the account for more than 10 years but the account hadn't had any activity in years. Yet they said the closure was fraud related. We need to get rid of these centralized powers that are able to arbitrarily shut us down.
Oh! Sorry. Decentralization is the way forward to any monetary system whether storage, exchange, formation, etc.
I was trained as a monetary economist. The U.S. had decentralized money in the late 1800's. It was bad. Crypto will be worse. Crypto is here to stay, but none of the current implementations will survive. This opinion is based upon the Sharpe-Lintner capital asset model.
OK. Though here we are talking about global decentralization. Not only one country.
What people don't understand is that network effects are zero for capital assets. A capital asset becomes worthless as soon as the smart money figures out that it cannot sustain itself on the Sharp-Lintner beta efficiency frontier. Bitcoin will likely be the first to collapse. Not hard science. Just slightly informed opinion.
I find this viewpoint quite interesting. Especially regarding network effects for capital assets. Whether in the transient or in absolute might require slightly different consideration. (Absolute end state as in ... as soon as they figure out so and so... like you alluded to). I will look up the reference to Sharp-Lintner. Thanks for sharing this.
There are also political considerations. The emergence of crypto threatens vital interests of the status quo territorial governments. Those governments have the power and the motive to defend themselves. Private person enthusiasts, OTOH, have no motive to organize and defend this empowering technology, and will not begin to do so until it is too late.
So they put your account on hold till when Jesus comes back on a wooden bicycle.