7 years ago
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Bank of America Report: Bitcoin's True Value 'Impossible to Assess'
A potential move by global brokerages to offer products around cryptocurrencies could have a big impact on the wider market, analysts at Bank of America Merrill Lynch wrote. In an Oct. 16 research note entitled "Introducing cryptocurrencies – what are they good for?", the analysts tackle bitcoin as well as other cryptocurrencies such as ethereum and XRP. The note both covers the basics of the market and dives more specifically into the growing galaxy of open blockchain networks in operation today.
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Unlike derivatives and toxic mortgages?
No shit. These people can estimate the value of mortgage-based security futures options, but Bitcoin is too complicated.
The value of bitcoin is how much people are willing to pay for it. What they really hate is they can't control it because they can't buy it up and issue loans on it.
Technically, they still can buy it up, but they can't just create loans out of thin air and then make money off of the interest. Bitcoin is a whole lot more immune to bullshit from greedy banks as apposed to the established system.