Posted: Feb 09, 2018 5:34 pm
Macdoc wrote:actually it allows smaller players to compete on a level transaction cost.
The current system already is 99% speculative.
What's your source for that 99%? From what I've read I understand it to be more like 90%, - which is of course still pretty obscene and the reason why there are economists, campaigners, and some politicians looking at the possibilities of progressive financial transaction taxes, - which would only be possible to implement with a highly regulated and audited banking and financial sector. Bitcoin basically wants to be the opposite of that.
And the idea that smaller players could compete seems silly to me. Smaller players will never have the resources to stay ahead of the markets, nor the large amounts of disposable wealth needed for the benefits to outweigh the risks.