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Mark Cuban Dec 11
$6.91 billion is a small price to pay to protect legacy interests. As are many other maneuvers And what about quantum computing and legacy keys and the cost of creating more advanced keys? What happens to settlement then ?
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Preston Pysh Dec 11
Attached tweet addresses quantum. I share your concern on the 7B today - only more time in the protocol’s execution of fiat via halving combined with diff adjustments will that risk be alleviated (I expect by the end of 2021) .
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Mark Cuban Dec 11
U miss the point on the 7B. No price is too much. Countries have gone to war over less than trying to protect their control.
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Preston Pysh Dec 11
Replying to @mcuban @jimmysong and 3 others
I agree, no price 2 much, but what’s the attack vector/target? You got people like and many more that are hardening the network with satellites or even HF antennas. Not every country will ban...if you do, now your last in line...
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Mark Cuban Dec 11
Look at what countries are doing to block the net and limit or filter access Look at the amount of power and processing required to get to the processing weight you think is needed. Those are not just vulnerabilities on the path they are vulnerabilities post implementation
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Mark Cuban Dec 11
And we haven't discussed environmental issues or what AI could come up with and take the entire concept of value exchange to.
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Pomp 🌪 Dec 11
Mark what information would make you change your mind on Bitcoin? Many of your concerns are shared by others, but there is a lot of information that refutes those concerns. If you are serious about learning here, I'm happy to fly to Dallas and spend time explaining. Let me know
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Preston Pysh Dec 12
BTW, Mark, you should take Pomp up on his offer. You won’t find a better person to objectively answer your questions in more depth. He works with who has managed major endowments for ND, UNC...
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Mark Cuban Dec 12
You can't be objective when you are selling your own book. Nothing that's been said has challenged my position. Responses have been technical and academic. Which is great for our discussion. I have enjoyed it. But academic discussions rarely change hearts and minds of consumers
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Mark Cuban Dec 12
Lots of people are trying to change my mind. My mind will be changed not by technical discussions about fiat currency, sharpe ratios, valuation projections, protocol comparisons , etc . It will be changed by actual usage by consumers, who choose BTC over the many other options
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Mark Cuban
BTC is available in this country and many others for almost no cost. The percentage of consumers choosing it as a methodologically for payment or SOV is infinitesimal. It's almost free and few want to use it. We started taking BTC in 2015 and again last yr with 5 total trx.
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Mark Cuban Dec 12
You don't have to convince me. You need to convince your neighbors. If they don't see value, that is the problem you need to solve. I'm not opposed to BTC . I understand every argument being made.The world is littered with great products/services that failed for lack of consumers
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Dan Smith ⚡️ Dec 12
Mark may be right in the near term; but I believe the first real "users" of crypto are likely at recess right now (or younger). BTC is a longer term play than most investors are comfortable with. Understandably so. Forms of money don't iterate like a shark tank pitch.
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Pomp 🌪 Dec 12
There was hundreds of billions of dollars of onchain transaction volume last year (not exchange traded volume). It is more popular than Venmo, PayPal, and Apple Pay. The data suggests that each month it is continuing to be more popular (transactions, wallets, hash power, etc)
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Pomp 🌪 Dec 12
I wouldn't expect people to spend Bitcoin to buy NBA tickets or merchandise. The US dollar and related infrastructure works great for that. But in cases where the US dollar is not great, Bitcoin is quickly becoming the most popular alternative.
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Elaine 🐤🇮🇨 Dec 12
UGH that's cuz you did it all wrong. this is a screenshot of your checkout screen. (1) Bitcoin payment should get at least 20% discount bc it saves you the burden of card processing fees and chargeback risk, plus upside 🚀🌛 (2) Don't use Bitpay, use instead
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Mark Cuban Dec 12
What would I give a discount when I can sell it to someone else wo the discount ?
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Bitbuy - Buy/Sell Crypto🇨🇦 Dec 12
Try paying a friend in the US digitally when your national banking system restricts Paypal, and doesn't let you use Venmo, Cash App etc at all. 🤷‍♂️ BTC works pretty well!
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Lurke Dec 12
People are afraid of change. Of course not many people use it yet. How long did it take to get everyone using the internet? Adoption will come in time with the ongoing developments to make it simpler to use.
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Saul Goodman, Esq. Dec 12
“Few want to use it.” This is the perfect observation from . In order for digital assets to have sustainable long-term value, we have to instead be able to say “many (need) to use it.”
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Eralp Bayraktar Dec 12
that's a very good point Mark, I think the reason is BTC will be store of value rather than a payment network. no one uses gold to pay, not even 5 a year FED has been pumping USDs like crazy, finally we have a way to keep our purchasing power instead of it getting stolen by gov
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