Nasdaq to use bitcoin to log info on unlisted companies shares transactions

[st434u]

Other posters who have been around these forums for a while know of my negative views on bitcoin as a money.

 

I haven't had time to think about the ramnifications of this, but I'm sure bitcoin enthusiasts will find it interesting and exciting, so I'm posting it.

 

http://finance.yahoo.com/news/nasdaq-s-bitcoin-plan-183125709.html

 

More here:

 

http://www.nasdaq.com/press-release/nasdaq-launches-enterprisewide-blockchain-technology-initiative-20150511-00485

[Koroviev]

As far as I understand it this has nothing to do with Nasdaq using bitcoin as a currency, but simply using the blockchain architecture to speed up and increase the reliability and integrity of their current transactions. Also, out of my own curiosity what are your views on using bitcoin as money? I haven't heard many arguments against it.

[st434u]

As far as I understand it this has nothing to do with Nasdaq using bitcoin as a currency, but simply using the blockchain architecture to speed up and increase the reliability and integrity of their current transactions. Also, out of my own curiosity what are your views on using bitcoin as money? I haven't heard many arguments against it.

 

Well they're still using bitcoin, just in very, very small amounts per transaction.

 

For my view on bitcoin as money, read these threads:

 

https://board.freedomainradio.com/topic/38337-bitcoin-intrinsic-value-and-mises-regression-theorem/

 

and

 

https://board.freedomainradio.com/topic/39541-bitcoin-fanatics-say-the-darnedest-things/

[Koroviev]

Hmm, I read that as in general you can trade 1/100,000,000th of a bitcoin. Not necessarily that they are going to be used in the Nasdaq transactions, especially since the article from Nasdaq doesn't mention it. It's hard to say though since there doesn't seem to be much other info on it... :/

"How divisible are bitcoins?

A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction. If necessary, the protocol and related software can be modified to handle even smaller amounts." - https://en.bitcoin.it/wiki/FAQ#How_divisible_are_bitcoins.3F

 

Thanks for the links though!!