Bitcoin & Cryptocurrencies - Looking Beyond The Hype (BIS video)

Cryptocurrencies: looking beyond the hype

The Bank for International Settlements (BIS) (domain: BIS.org) video above published Jun 17, 2018: Hyun Song Shin speaks about Chapter V of the Annual Economic Report 2018 (full embed below). Cryptocurrencies' decentralized model of generating trust limits their potential to replace conventional money, the chapter argues.

Abstract: "Cryptocurrencies promise to replace trusted institutions with distributed ledger technology. Yet, looking beyond the hype, it is hard to identify a specific economic problem which they currently solve. Transactions are slow and costly, prone to congestion, and cannot scale with demand. The decentralized consensus behind the technology is also fragile and consumes vast amounts of energy. Still, distributed ledger technology could have promise in other applications. Policy responses need to prevent abuses while allowing further experimentation."

Cryptocurrencies: looking beyond the hype: BIS Annual Economic Report  |  17 June 2018, PDF full text (452kb)  |  24 pages embed below:

Despite the hype, #cryptocurrencies like #bitcoin are not the answer to the increasing need for #DigitalPayments because of their volatile value ...1/4 https://t.co/Z9f5mBLrhK pic.twitter.com/JfMB8faFev

— Bank for Intl Settl. (@BIS_org) June 17, 2018

… cryptocurrencies lack scalability to handle the economy’s transaction needs …. 2/4 https://t.co/Z9f5mBLrhK pic.twitter.com/9JwSBIVhfH

— Bank for Intl Settl. (@BIS_org) June 17, 2018

… payments made with #cryptocurrencies are never fully final because of possible rewriting of history through episodes of #forking … 3/4 https://t.co/Z9f5mBLrhK pic.twitter.com/sntmMlwlLq

— Bank for Intl Settl. (@BIS_org) June 17, 2018

… but the underlying distributed ledger technology just might be applied in finance, for instance in trade finance #DLT #Blockchain #TradeFinance 4/4 https://t.co/Z9f5mBLrhK pic.twitter.com/fi9RrhRn1j

— Bank for Intl Settl. (@BIS_org) June 17, 2018

The Bank for International Settlements, founded May 17, 1930, is an international financial institution owned by 60 of the world's central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." The BIS provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

See also: The bigger Cryptocurrencies get, the worse they perform: BIS | Reuters.com.

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MacroView: Kyle Bass Says China Will Be Forced to Recap Banks (video)

Is Xi Jinping, the President of China, the world's most powerful man?

The Economist (economist.com) published the above video on Oct 17, 2017: Is Xi Jinping the world's most powerful man? The world's balance of power is shifting. For the past five years president Xi Jinping, China's leader, has ruled with an iron fist and has been pursing a new model of great power relations. But his power may be fragile, watch the video and find out why.

Kyle Bass Says China Will Be Forced to Recap Banks

Bloomberg.com video above published Oct 17, 2017:  Kyle Bass, founder and chief investment officer at Hayman Capital Management (domain: HaymanCapital.com), discusses the Chinese banking system in an interview with Bloomberg's Erik Schatzker taped on Oct. 6, 2017.

US Markets Oct 17, 2017:

Dow touches 23,000 for the first time, closes at record https://t.co/M6mMzpugks pic.twitter.com/2hArVHq33Z

— CNBC (@CNBC) October 17, 2017

#BREAKING Dow tops 23,000 for the first time but closes just shy of the milestone https://t.co/dJxUQFdLQe

— USA TODAY (@USATODAY) October 17, 2017

Tweets by Jkylebass
See also:

• Kyle Bass Says ICO Investors Will Get Wiped Out in Crypto ‘Mania’ | Bloomberg.com
• Kyle Bass: China's $40 Trillion Banking System Has "Largest Imbalances I've Ever Seen" | ZeroHedge.com
• This Hedge Fund Investor Says China Bears Are Missing Something | Bloomberg.com: "Bass’s flagship Hayman Capital master fund returned almost 25 percent last year on bets placed across global rates, currencies and commodities, Bloomberg reported in January. “Look, Kyle’s really smart, and Kyle could be right,” Yusko said. “But we’re just going to disagree on this right now.”"

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