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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: w0z who wrote (12530)	12/16/2021 1:02:42 PM
From: Elroy	Respond to of 26612

It probably does for one reason...security. Ticket barcodes can be counterfeited, but that would fail when checked at the gate by a ticket collector who would scan them with an app which would verify authenticity on a blockchain. Costs would also decline by eliminating the expensive services. My recent experience attending sporting events is the people at the gates often don't even check the tickets. I buy them, and then nobody at the entrance cares, they seem to just assume only people with tickets would be in the entry line.... But if it were a sold out theatre or assigned seat concert, it may be an issue. But it isn't. Stubhub isn't on a blockchain (as far as I know) and there don't seem to be lots of instances (as far as I know) of two people with tickets to the same seat.

To: w0z who wrote (12530)	12/18/2021 3:34:56 PM
From: Kirk ©	Respond to of 26612

This academic's opinion seems to plainly say in an easy to understand way what many of us believe about crypto. Bitcoin ‘may not last that much longer,’ academic warns PUBLISHED FRI, DEC 17 20219:55 AM EST UPDATED SAT, DEC 18 20211:04 AM EST Sam Shead Eswar Prasad, senior professor of international trade policy at Cornell University, told CNBC’s “Squawk Box Europe” earlier this month: “Bitcoin itself may not last that much longer.” Bitcoin’s price has been highly volatile over the last few years and in the last month the price of a bitcoin has fallen from around $58,000 to less than $48,000. While there used to be just a few cryptocurrencies, today there are hundreds and some of them are more useful and more environmentally-friendly than bitcoin. The future of bitcoin is anyone’s guess, but one academic has warned that the world’s most popular cryptocurrency could fade out in the near future. Eswar Prasad, senior professor of international trade policy at Cornell University, told CNBC’s “Squawk Box Europe” earlier this month: “Bitcoin itself may not last that much longer.” Bitcoin’s price has been highly volatile over the last few years and in the last month the price of one coin has fallen from around $58,000 to less than $46,000. At 10:15 a.m. ET on Friday, the price of a bitcoin was $45,637. While there used to be just a few cryptocurrencies, today there are hundreds and some of them are more useful and more environmentally-friendly than bitcoin. Blockchain is the underlying technology behind most cryptocurrencies. It’s essentially a digital ledger of virtual currency transactions which is distributed across a global network of computers. “Bitcoin’s use of the blockchain technology is not very efficient,” said Prasad, who is the author of ’“ The Future of Money: How the Digital Revolution is Transforming Currencies and Finance.” The cryptocurrency “uses a validation mechanism for transactions that is environmentally destructive” and “doesn’t scale up very well,” he explained. Indeed, bitcoin’s carbon footprint is bigger than the whole of New Zealand. Prasad said some of the newer cryptocurrencies use blockchain technology far more efficiently than bitcoin does. He believes blockchain technology will be “fundamentally transformative” in the way that finance is done and in the way we conduct our day-to-day transactions, like buying a house or buying a car. “Given that bitcoin is not serving well as a medium of exchange, I don’t think it’s going to have any fundamental value other than whatever investor’s faith leads it to have,” Prasad said. More generally, cryptocurrencies have “lit a fire under central banks to start thinking about issuing digital versions of their own currencies,” Prasad said. He added that such digital currencies could be beneficial as they may provide a low-cost payment option that everyone has access to, thereby increasing financial inclusion and potentially financial stability. “Much as you might not like bitcoin, it has really set off a revolution that ultimately might benefit all of us either directly or indirectly,” Prasad said.