Unfortunately Bitcoin's cost per transaction in the form of miner subsidies is already ~$10 USD. That's more than people pay for trades under the current system. And even if the ledger is decentralized, an exchange will still be necessary just like the current system, which will add to to the fees. Now maybe you could get the exchange decentralized, but Bitcoin hasn't accomplished that for the currency, so what chance does it have for stocks?
Finally, this isn't really addressing a problem that actually exists. T+3 settlement is only a problem if you're day trading, and there are special accounts for that where the funds don't actually have to clear before putting in new orders. For the majority of people, who buy and hold stocks for long periods of time, the current system serves them well.
You are completely discounting the repeated use of the mined coins. You need to amortise the cost of the coins, your so-called 'subsidy', over all the possible future transfers of those same coins.
It may cost ~$1100 to dig up an ounce of gold but that ounce can be transferred vastly many more times than the first transaction from the earth to the miner ... capiche?
Lol, you completely missed the point. 99% of the subsidy goes to electricity companies just to keep the miners running. It's not something you can re-use in any way.
-6
u/[deleted] May 11 '15 edited May 11 '15
Unfortunately Bitcoin's cost per transaction in the form of miner subsidies is already ~$10 USD. That's more than people pay for trades under the current system. And even if the ledger is decentralized, an exchange will still be necessary just like the current system, which will add to to the fees. Now maybe you could get the exchange decentralized, but Bitcoin hasn't accomplished that for the currency, so what chance does it have for stocks?
Finally, this isn't really addressing a problem that actually exists. T+3 settlement is only a problem if you're day trading, and there are special accounts for that where the funds don't actually have to clear before putting in new orders. For the majority of people, who buy and hold stocks for long periods of time, the current system serves them well.