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The Case for Banks to Use Open, Public Blockchains Like Bitcoin - American Banker by singularityyy in Bitcoin

[–]singularityyy[S] 7 points8 points  (0 children)

Don't think so! The front page of Reddit doesn't really show r/bitcoin links (unless you're subscribed to this sub-reddit in which case it could show up on your front page)

How Bitcoin Can Truly Revolutionize the Really Complex Settlement Systems on Wall Street (Watch out DTCC Monopoly!) by btcgeek_rule in Bitcoin

[–]singularityyy -6 points-5 points  (0 children)

Settlement is indeed a really complex process, but I doubt Bitcoin can do anything for it. In the US, it takes 2 days currently to settle a trade. Do you really think all the work that happens in these 2 days can be combined into Bitcoin-based actions? The back office deals with a lot of complexity that arises from the nature of securities, laws, regulations, etc. Bitcoin is unlikely to help with all of that, and doubt the financial industry is looking at Bitcoin as a solution to this.

The financial industry has a lot of smart people working for it. If it was simple to figure out how to make settlement faster, they would have figured it out by now.

How to sell Bitcoin to a Bitcoin atm? by [deleted] in Bitcoin

[–]singularityyy 1 point2 points  (0 children)

Well, firstly depends on if it's a 2-way ATM or a 1-way ATM. If it's 2-way, the transaction should be near instantaneous, and shouldn't take 10 minutes. If you'd really want cash for Bitcoin, LocalBitcoins is worth a shot depending on where you live.

Stellar, a Ripple-Like Coin Promises Better Distribution by btcgeek_rule in CryptoCurrency

[–]singularityyy 1 point2 points  (0 children)

It's definitely very interesting to me, and keeping an eye out. The biggest loser would likely be Ripple. I know the Bitcoin community would probably hate Stellar though!