Duke of Marmalade
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To distinguish it from the other bold. A some what muted response.
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To distinguish it from the other bold. A some what muted response.@dukey: what's the significance of your use of italics??
Not to mention it's uses for ransomware, which these Russians quite like...is Vlads reading this thread?
There's no 'supposed' about it.You really have to track down these supposed adoptions of bitcoin produced by @tecate.
You can look at items individually Duke - or you can look at the complete picture. I suggest the latter.No one is questioning the technological aspect of bitcoin- although certainly not on a par with such wonders as TV and Aeronotics. But how anybody thinks this announcement from Microsoft has any relevance whatsoever for bitcoin's $1trn market cap escapes me.
I was expecting something a bit more specific than that to be honest
Do you think Microsoft copying bitcoin’s technology for ID management increases the possibility of nation states buying bitcoin?
I can certainly see the possibility of nation states adopting similar technology for ID management
I guess you'd have to ask him a factually correct question to start with. Microsoft's Digital Identity project (Ion) is secured directly on the bitcoin network. MS engineers decided to use it to harness its utility as a security layer.Do you think Microsoft copying bitcoin’s technology for ID management increases the possibility of nation states buying bitcoin?
Indeed Jim - and you can expect that volatility to exist for some years to come. Bitcoin and crypto remains at a very early stage on the adoption curve. Until it matures, it's in price discovery mode.Crypto seems to taking a serious dive this morning showing its volatility once again.
It does not use bitcoin. It has no relevance for its value or its appropriateness as an investment for nation states.I guess you'd have to ask him a factually correct question to start with. Microsoft's Digital Identity project (Ion) is secured directly on the bitcoin network. MS engineers decided to use it to harness its utility as a security layer.
We can all drink to that from our pint glasses. Though being in “discovery mode” sounds a bit like adolescent growing pains. In reality nobody has a clue what price it will grow up/down to be. The estimates range from 0 to over $1m. There are those who say this is an asymmetric risk i.e. far more upside than downside. I guess that is the pint glass being a quart full. I think nation states should wait till bitcoin discovers its price.Indeed Jim - and you can expect that volatility to exist for some years to come. Bitcoin and crypto remains at a very early stage on the adoption curve. Until it matures, it's in price discovery mode.
It relies directly on the security of the bitcoin network. Its use in this role is a further demonstration of its utility - and utility is relevant to assessing value. Anyway, that's my view. You disagree - that's fine.It does not use bitcoin. It has no relevance for its value or its appropriateness as an investment for nation states.
There is no other way for a network and digital asset of its nature to find its value. That may be deemed to be inconvenient for some but when the overall proposition is assessed in its entirety, sovereign funds would do well to get off zero.We can all drink to that from our pint glasses. Though being in “discovery mode” sounds a bit like adolescent growing pains. In reality nobody has a clue what price it will grow up to be. The estimates range from 0 to over $1m. There are those who say this is an asymmetric risk. I guess that is the pint glass being a quart full. I think nation states should wait till bitcoin discovers its price.
I guess if I cannot provide you with your expected specifics and you have "not a fiddlers" about the subject matter, you will be on your merry way now?
How about your own specifics
Yes, I think they will at some point, couldn't guess when. And from the OP I think I made it clear it would be a good thing.
Serious question, not part of the bun fight.Microsoft's Digital Identity project (Ion) is secured directly on the bitcoin network. MS engineers decided to use it to harness its utility as a security layer.
I already gave my answer to you
Your Question:@Firefly Did you read the title of the thread? Clearly, like you, I have no idea when nation states will acquire bitcoin. That is why I posed the question. However, inherent in the question is my assumption, unlike you, that they will acquire bitcoin.
So for you, as regarding the acquirement of bitcoin and/or the timeframe - you have not a fiddlers.
For me, I have taken a position that they will acquire bitcoin but I do fall short on being able to determine a timeframe. Hence the question in the title.
I will say, given some of the answers and contributions it appears that despite the initial protestations that the NTMA could not, or never hold bitcoin, the NTMA could actually hold bitcoin but are just highly unlikely to do so for the forseeable future. Although, I do think when it does happen it will happen very quickly.
Also, some other answers suggest that some nation states are actually acquiring bitcoin, but these suggestions are dampened by other views that they are not states to be taken 'seriously', or indirect ownership of bitcoin through sovereign wealth funds is not tacit acceptance of acquiring bitcoin.
And then there are your own views - Russian conspiracy theories that you unwittingly manage to debunk by yourself within a sentence or two, and random newspaper articles that bear no correlation to your statements. Summarised by "not a fiddlers".
If you cannot provide a timeframe, in your own words, can you even guess when they will?
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