Evidence receipt / evaluation
Published · transcript-backedDavid Rosenthal: evaluation
27 Nov 2023 Acquired Visa
“Any individual bank, if they were to say, this is valuable now, I'm going to go sell it, and then I no longer have any incentive to participate in the network, if that starts happening, then it'll lead to a cascade for the exits, and the network will lose value.”
Source trail
Everything needed to verify it.
- Speaker
- David Rosenthal
- Attribution
- Verified speaker
- Claim type
- evaluation
- Recorded
- 27 Nov 2023
- Publisher
- Acquired
- Episode
- Visa
Transcript context
…Oh, interesting. This means a couple of things. (1) It's a representation and ownership according to value contributed. (2) It's non transferable, so you can't sell it. Any individual bank, if they were to say, this is valuable now, I'm going to go sell it, and then I no longer have any incentive to participate in the network, if that starts happening, then it'll lead to a cascade for the exits, and the network will lose value. There's no way to do that. It's basically designed for you to breakeven on it. If you're putting in 17% of the transactions on the whole network, and you're paying in fees on 17% of the transaction, well, good news. For all of the leftover profits from running the network, 17% of them go back to you.…
Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.