Greece will default on their EU creditors because they know that they have a Russian safety net. After Russia helps Greece become a sovereign state, Russia will request that Greece votes to repeal the economic sanctions against them. Greece has every reason to default, knowing Russia has their back and Russia has every reason to have Greece's back. Win-Win for both countries. Complete loss for the EU. The Greece debt is listed as an asset because the creditors expect to be paid back. That 323 billion euro debt must be absorbed by the creditors and now that asset becomes a liability. How will this effect the European Market? DAX German Stocks FTS Eurofirst 300 Index DAX is higher than it was before the 2008 crash. I couldn't find any sources of the FTSE Eurofist 300 Index that went back beyond 5 years. However, even within that limted timeframe, the FTSE index is in uncharted territory. Point being : European stocks are in a bubble. When Greece defaults, that backlash will hit the European economy. The question is, where do Investors go to find a safehaven for their money during a financial crisis?
03-28 23:26 - 'David Andolfatto (Vice President, Federal Reserve Bank of St. Louis): "I think that Bitcoin could be the world's next great safe asset."' (andolfatto.blogspot.com) by /u/eragmus removed from /r/Bitcoin within 206-211min
“I have my doubts that [bitcoin] could be a good currency,” says David Andolfatto, a St. Louis Federal Reserve Bank economist who’s hosting a public discussion on bitcoin later this month, “but I can see some modest value if a growing number of merchants start accepting bitcoin.”
Bitcoin is an example of a DAO, though the intermediaries that are associated with Bitcoin obviously are not. Ethereum is a platform that permits the construction of more sophisticated DAOs via the use of smart contracts. The comparative advantages of DAOs are that they permit (i) a higher degree of anonymity, (ii) permissionless access and use Andolfatto then briefly explains some of the benefits and drawbacks to virtual currency. So, how big is the bitcoin realm? Currently, there are about $7 billion bitcoins in circulation worldwide, compared to about $1.2 trillion in U.S. dollars. 12.50 Bitcoin is a piece of shared software that everyone runs together instead of having one trusted computer do it (Graphic shows bank with one copy of ledger and Bitcoin with multiple copies). First, there is nothing that prevents a bank from keeping multiple backup copies of its ledger ( Fedwire has multiple back up computers, for example). The cryptocurrency Bitcoin is a payment system with monetary objects called bitcoin and a monetary policy prescribed as deterministic path for the supply of bitcoin converging to a finite upper limit. I view Bitcoin as a potentially promising payment system, saddled with a less-than-ideal money and monetary policy. I came across a presentation of Bitcoin the other day called The Trust Machine: The Story of Bitcoin. I thought it was very nice and I encourage anyone who's interested in Bitcoin to view it (less than 25 minutes). What I offer below are questions and comments that came to my mind as I listened to the narrative. I'd recommend listening to the entire presentation first and then reading my
In this video, St. Louis Fed Vice President and Economist David Andolfatto discusses whether bitcoin has the characteristics of a "good money," or a money that maintains stable purchasing power ... If your are looking for best investment today, BITCOIN is the best and very profitable investment now. "Bitcoin was simply the world’s best performing currency right now." ... David Andolfatto ... St. Louis Fed Economist David Andolfatto provides a look at the evolution of money and the long tradition of new currencies competing with old ones. Here, he also discusses the bitcoin competitors ... We're joined by David Andolfatto, VP of Research at the Federal Reserve Bank of St. Louis. ... - The idea that central banks may hold Bitcoin reserves - David's new paper on the impact of central ... David Andolfatto, How Does Bitcoin Work? - Duration: 13:10. Federal Reserve Bank of St. Louis 5,660 views. 13:10. EB82 – Mike Hearn - Blocksize Debate At The Breaking Point - Duration: 1:16:00.