On the contrary, it makes a significant difference. Futures have to roll over monthly and there's costs associated with that. Depending on the slope of the futures curve, the costs can be high (10+%). Holding spot bitcoin solves this problem and makes the fund more palatable to advisors and institutions.
brokerages need to have cash on hand to loan. they can partner with a bank, or it can come from their own balance sheet or investors, but it's not printed out of thin air.
In practice, aren't almost all of them either a bank themselves or partner one or more banks and auto-sweep customer deposits into these 'program banks'?
Sure it might be slightly more convoluted, but at the end of the day isn't this still customer deposits funding margin/loans?
In this thread, cynicism from people salty that they didn't invent or collect cryptopunks or bored apes.
I haven't gotten into nfts myself but to say that they are stupid or a scam now comes across as wishful thinking to cover your butt for missing out.
nfts represent ownership over digital culture, like it or not. digital collectibles. the market will decide whether they are priced like banksys or beanie babies.
While many will be a fad, I'm certain some won't be. Other nfts will be as mundane as an event ticket. It's a wide open field, and I think the HN community should try to keep an open mind.
But what is the point of that? If I own a physical or digital item in the non-NFT sense the benefit is that I have the thing. I can use it/look at it/listen to it/play it/whatever.
What use is owning a receipt for something that anyone can freely copy for themselves? Am I supposed to feel good that I have it and someone else doesn’t? I literally don’t understand.
The only arguments I can come up with are enforcement of copyright and supporting artists, both of which can and do happen just fine without involving any sort of blockchain.
without a way to resolve the canonical version without trusting a singular maintainer, git is not a blockchain. blockchains enforce consensus in a decentralized way, at least public blockchains do or should.
While I get what you're referring too, you're drawing from a community wisdom definition vs. any clear technical spec deeming it such, which is what I'm highlighting here. Even the whitepaper calls it "a timestamp network."
