Great news that you could pay for your Servers with Steem. Hope these scaling challenges get sorted soon. I would be a bit ironic if the block chain failed due to inefficient technology.
Not sure how I feel about the banks getting involved. Doesn't that threaten decentralisation? T thought the whole thing was getting away from control of the banks.
Apart from legitmising crypto does crypto need banks? Can't really understand why this is a good thing. Is there not enough money coming in from investors?
Somehow I'm going to need to get myself an investing plan. I like the approach of looking at it for the long term but right now, other than Steem, I'm not sure where to start.
I agree. Banks (or governments) don't come to crypto as retail players. They come to control. They can't control the blockchain, since it's decentralized, but they can control the hubs (exchanges). Unless the exchanges themselves are decentralized, and I know that's their future.
I used to do freelancing for a financial media company in New York. There were a few (about the same number as many fingers we have at one hand) huge international financial players which had their hands in pretty much every deal going on in the markets I was covering. GS was one of them. GS is in this for two things: control and profit.
I suppose @exyle's comment "you can't keep them out if they want in" says it all. So are we hoping for decentralised exchanges then? Isn't that what Bittrex and Binance are? I've never traded so have no experience of them.
No they are centralized exchanges. Practically all well-known exchanges are centralized, to my knowledge, but decentralized exchanges started to rise as well.
So much to learn, Thanks for helping @gadrain! 😁
You are welcome! And don't worry, we are all on a learning journey here. Glad I could help!
Crypto does not need banks to work. But you can't keep them out if they want in. They can invest just like anyone else. I would just be weary to anything they say :)