Bitcoin

Out of context: Reply #1937

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  • yuekit3

    Even putting aside the price stability issue...ease of use, speed, scalability, reliability, security seem like some pretty basic expectations people would have for digital payments.

    Is there a cryptocurrency that currently offers these things? I think the decentralized aspect of crypto actually works against it. Large institutions like VISA and PayPal are able to offer fast reliable digital payment networks because they are large institutions.

    IMO that's why Facebook's Libra project (or whatever they are calling it now)...with all these big names behind it, was seen as far more threatening than Bitcoin by the government.

    Maybe it will all change in the future as the technology improves but right now it's hard to imagine a decentralized digital currency competing with a centralized one in terms of mass adoption.

    • Visa and Mastercard are not instant. The payment is, the settlement is not, that's why you have chargebacks and payments blocked for monthsESKEMA
    • It will get faster, it will get cheaper, and it will get easier to use. Same as Internet speed was 56K in the early days.zaq
    • I see blockchain not as technology improvement, but rather power disruption. Old money and power has little control over it.zaq
    • https://cryptobriefi…BH26
    • @zaq What I meant is that as fundamental technologies improve... computing, internet speed, energy efficiency... it may become more viable.yuekit
    • Right now it's an insanely resource intensive, inefficient way to buy a cup of coffee. For investing it makes sense, not so much for everyday payments.yuekit

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