- 04 Nov 2017 01:26
#14858988
Correct, I dont think there is any danger today. There is if people start betting on Bitcoin. CME are making an unwise move that could easily bring in another economic crash. The danger is how much confident people place on Bitcoin. Traders and investors are unlikely to sit on their hands. They didn't when creating toxic loans and they won't on toxic tokens. I hope I'm wrong. But traders do like to bet on illusions or figures that look good on paper. Have they learnt their lesson from 2008? I doubt it. So yes. I maintain there is a danger.
Kaiserschmarrn wrote:All your claim comes down to is that there is a possibility for the financial system to be exposed to bitcoin to the extent that it would lead to a crash or crisis. I responded by telling you that I will take note if there ever is such an exposure. As far as I can tell from your posts, you admit that there isn't any exposure today that could cause anything approaching an event that could destabilise the financial system. We differ in our judgements about how likely it is that this is going to happen. You seem to think it's almost certain, although you have not given any evidence or reasons for this believe, while I think it's very unlikely unless there is a turnaround in perception by experts, banks and governments.
So in summary, your argument seems to be that because there is a possibility for bitcoin to be problematic in the future, bitcoin will be problematic in the future. That's really weak and poor reasoning.
Correct, I dont think there is any danger today. There is if people start betting on Bitcoin. CME are making an unwise move that could easily bring in another economic crash. The danger is how much confident people place on Bitcoin. Traders and investors are unlikely to sit on their hands. They didn't when creating toxic loans and they won't on toxic tokens. I hope I'm wrong. But traders do like to bet on illusions or figures that look good on paper. Have they learnt their lesson from 2008? I doubt it. So yes. I maintain there is a danger.