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Location

Clearwater

Member since

2020

Jim Bray

Founder at Identite

Message Posts: 0 Comments: 23

Bio Focused on developing leading edge technology and services that eliminate fraud. Career History 40 experience working for companies like IBM,AT&T and Sun Microsystems.

Jim is Commenting on

Will the SEC Suffocate Crypto in the Crib?

That is you advice?

07 Mar 2022 Reply Read article

Will the SEC Suffocate Crypto in the Crib?

I am currently trying to understand how bitcoins create value. In the past people could go purchase a high-end color copier and print counterfeit currency. Not some much now that the mints have added security tools to paper money. What I struggle with is the concept of people trading hard cash for bitcoin and then their bitcoin increasing in value without doing anything tangible to justify the increase. A good example with the EMax 30 day pump and dump that Kim Kardashian and Holyfield promoted last year. A lot of people lost a lot of money when the music stopped and there was no one will to purchase their bitcoin. When I look at how bitcoins are created, I do not see where the increased value came from other than the exchanges recording the value increases when new customers bought their way in and paid a higher price. Until someone can explain the value proposition other than perceived value, I believe bitcoin has a hard row to hoe like mortgage derivatives which no one could explain. If you get in early and get out early you can make some money (hard cash) but the people that hang on are in trouble. I do see value in Central Bank Digital Currency which like hard cash does not increase in value at a high rate. Stablecoin could have a future once someone can explain it to me. If I am missing something here, please let me know I am willing to learn. I have no ax to grind.

07 Mar 2022 Reply Read article

Crypto giants form travel rule compliance platform

The creation of Trust is a step in the right direction for validating the destination of a transaction before it is sent. It is good to see all the members have committed to meet core anti-money laundering, security, and privacy requirements. The one outstanding problem all the exchanges share is they are still using passwords to log into the blockchains. Passwords are the modern-day version of the skeleton key.

18 Feb 2022 Reply Read article

JPMorgan research uses quantum network to protect blockchains

The QKD network is a proactive step to protecting networks that have blockchain applications running on them. The weak link in blockchains is they still use passwords for access.

18 Feb 2022 Reply Read article