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Unless you're paying with bitcoins, you can't just teleport money. You need to transfer it via third parties. Credit cards do this and take a ~3% cut. If 21 can
by natrius 11y ago
Unless you're paying with bitcoins, you can't just teleport money. You need to transfer it via third parties. Credit cards do this and take a ~3% cut. If 21 can get its chips into every household, they can take a much smaller cut, especially since the chance that a customer won't pay their bill is lower. You'd have to unplug your mining chips to avoid a bill, which would instantly notify 21.
They can charge money to people's electricity bills and pay no fee. That is a competitive position.
- Sanddancer 11y agoI can send money via various electronic fund transfer systems that do exist, not just through credit cards. There even exist standards, like SWIFT, to do this internationally. So yes, banks can transfer in a very similar way as bitcoin.