When bitcoin bros talk finance


We were so distracted by Trump’s “I’m not a fan of bitcoin” tweets, and the cryptohysteria that followed, over the weekend that we managed to miss quite a priceless tweet from another great world leader.

The man is Anthony Pompliano, and the land in which he is a leader is the Brodom of Cryptoland. Better known just as Pomp, he is a crypto evangelist and co-founder of a digital asset fund called Morgan Creek Digital.

So you might think he’d know something about the land of the digital.

You can judge that for yourselves. Take a look at this Twitter exchange between Pomp and @Prometheus_Cap from Saturday (take a look, in particular, at Pomp’s reply):

Um…? Does Pomp imagine that the electronic transfer of funds is achieved by plugging in some electric cables and transmitting signals down them over a number of days, or…?

We’re not sure that Pomp has figured out that the reason transfers take days to settle transactions between banks has nothing to do with the time it takes to update some numbers in a database, and everything to do with the fact that US regulators have not yet forced banks to bring their settlement systems into the twenty-first century.

He might want to take a trip outside of the United States to take a look at how quickly “electronic” transfers of digital numbers can occur.


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