Nasdaq 'Would Consider' Creating a Crypto Exchange, Says CEO (coindesk.com) 38
The CEO of Nasdaq suggested Wednesday that the company could open a cryptocurrency exchange in the future. From a report: The subject came up in an interview with CNBC, during which CEO Adena Friedman expressed openness to the idea. "Certainly Nasdaq would consider becoming a crypto exchange over time," Friedman remarked, adding: "If we do look at it and say 'it's time, people are ready for a more regulated market,' for something that provides a fair experience for investors... I believe that digital currencies will continue to persist it's just a matter of how long it will take for that space to mature. Once you look at it and say, 'do we want to provide a regulated market for this?' Certainly Nasdaq would consider it."
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Why would they care what is being brokered? Whether people are throwing futures around as casino chips or digital tokens, they live off the fees.
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And at the speed-of-light trading where they can buy and sell magnitudes faster than the punter from a home computer. Basically profiting from the s
Who wouldn't want to be an exchange? (Score:5, Insightful)
Being an exchange is zero risk, and you get a slice of all the action. No need to worry about the latest mining hardware, or losing your shirt in the wildly unstable cryptocurrency market.
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Yep.
The Bitcoin fanbois will tell us it means Bitcoin is legit (finally!) but all it really means is that NASDAQ think there's some decent transaction fees to be made.
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Bitcoin - the free market version of wealth redistribution.
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Actually, he just said 'if the time is right', in other words he basically said nothing, not dismissive nor committed.
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*she
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Can't match the trades 1:1, they always invest some of their own liquidity.
Once NASDAQ involved (Score:4, Funny)
What could possibly go wrong?
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What could possibly go wrong?
Not much, actually.
A few idiots will lose their pensions speculating on Bitcoin but it can't crash the economy like when they did it with houses.
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If the bubble grows large enough, of course it can. Even banks and pension funds will find some indirect way to be exposed, the financial industry will find a way. The pensioners and blue collar workers who invested themselves won't be consuming much for a while.
The economy does well at low inequality and high wealth, tulip mania creates a highly unequal distribution of wealth in collapse.
Step 4 (Score:5, Funny)
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Sounds like a bargain! ...
She could pay my student tuitions then!
Unfortunately she died 2 years ago at age of 89 and I'm 51 now
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"Would consider" means nothing more than "would consider". Translation into simple English "would think about". One can think about many things, real, surreal, irreal, rational, irrational, possible, impossible, legal, illegal, etc. The thinking about something means nothing. It is decision that is reached that is important.
For example I would consider drinking a bottle of vodka. And I would decide "no".
Crypto currency value (Score:1)
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For every million "made" on Bitcoin there's a thousand people who lost $1000.
Not true, it's the same as stock in this regard - if you make $1M selling your stock, doesn't mean other people lost $1M, just means the price has increased that much.
In theory a stock price is related to company earnings. That's not really true any more though.
If you sold your stock for $1 million profit it means somebody else handed you their money.
There's a limit to how many times this can happen to any given share/coin. Both are pyramid schemes, the only real winners are the people taking sales commissions.
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At least "real" currency sort of has some government backing to it.
That is a bug, not a feature. Most of these governments are highly indebted and have a vested interest in using inflation to monetize that debt.
No government backs gold. Over the last century, the US dollar has lost 98% of its value against gold. Most other "government backed" currencies have done even worse.
Is a hen house more secure when there is a fox to guard it?
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Is a hen house more secure when there is a fox to guard it?
Of course it is! You get everything wrong again!
Enemy cocks/roosters have it much more difficult to get inside!
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True wealth of a nation is productive and human capital.
There is no significant value stored in money on a national scale, it's a means to an end ... an inflationary currency is a better means to the end than a deflationary one.
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IMO, the advantages/disadvantages of a little inflation/deflation are overblown by both crypto fans and crypto critics. However, in a serious financial crisis, I believe the problems of deflation getting out of hand are very real, and not exaggerated at all.
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Crypto currency value by definition is that it provide a medium of exchange. NASDAQ are open to providing one. That is interesting.
In light of the fact that Crypto have historically behaved as a commodities (i.e. store of value) rather than currency NASDAQ enables the latter. Crypto-scheme currency gains one step closer to towards money (i.e. medium of exchange + store of value).
posting (Score:2)
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How much of the cryptomarket is based on trust in coinbase? It's highly centralized as it is. Tulips are more relevant to crypto than trust in proof-of-work.
NASDAQ would 'consider' a people exchange (Score:2)
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