I think this prompted investors to ask "where's the ROI?".
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Wire transfers are how you handle actual big money transfers and it doesn't take weeks.
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International transfers do take time, domestic is instant.
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1-5 days isn't "weeks".
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Oh, I thought he said days not weeks. If it takes weeks they probably suspect you of money laundering.
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It does empower normal people, unfortunately regulations make it harder to use. Try buying Monero, it is very hard to buy.
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They have made it harder, but it's not really hard.
Just buy any regulated crypto and convert. Cake Wallet makes it easy, but there are many other ways.
I myself hold Bitcoin and Monero.
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Same in NL most (all?) banks here have an app that lets you transfer money near instantly, create payment requests, execute payments for online orders by scanning a code, etc. It's great I think.
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crypto that uses block chain is 100% not private. The whole point of the blockchain is that every single transaction is logged and verifiable for the life of the coin. It's decentralized so you don't need to involve a bank, that not the same as private.
Cash transfers are private. That is why there are so many restrictions on cash transactions at banks and borders.
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Look up Monero, it is a crytpo currency that as far as I know no one has been able to trace.
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In europe i can send any amount (like up to 100k ) in just a few days since 20 years, to anyone with a bank account in europe, from my computer or phone.
Also, since 2025 every bank allows me to send istant money to any other bank account. For free.
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I'm not saying that it doesn't have any uses but the costs outpace the investments done by a mile. Current LLM and vLLMs help with efficiency to a degree but this is not sustainable and the correction is overdue.
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I mean, I'm working on that tech and the evaluation boggles my mind. This is nowhere near worth what is put into it. It rides on empty promises that may or may not materialize (I can't say with 100% certainty that a breakthrough happen), but current models are massively overvalued. I've seen that happen with ConvNets (Hinton saying we won't need radiologists in five years in....2016, self-driving cars promised every two years, yadda yadda) but nothing to that scale.
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I think that the technology itself has been widely adopted and used. There are many examples in medicine, military, entertainment. But OpenAI and other hyperscalers are a bad business that burns through a loooot of cash. Same with Meta AI program. And while this has been a norm with tech darlings that they usually don't break even for a long time, what's unprecedented is the rate of loss and further calls for even more money even though there isn't any clear path from what we have to AGI. All hangs on Altman and other biz-dev vague promises, threats and a "vibe" that they create.
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I was making a joke, I agree with you it is over hyped. It basically just takes the training data mixes it up and gives you a result. It is not the so called life changing thing that they are advertising.
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Helpfully, because bitcoin gets all the traderbro attention, monero has actually ended up being (relatively) stable because it has more of a purpose.
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That is not the only reason it is stable, because all transactions are private, it doesn't affect the price unlike bitcoin.
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Because they have to compete with crypto.
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Ah, sorry, didn't catch it ^^"
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Money is held so that interest can be earned on the float.
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The data on the blockchain is not private.
However data can be encrypted before it hits the blockchain and it can also be cryptographicly manipulated in ways that remain private.
