4 ms·

BitCoin integration is on the way! I know what you mean, but the Bitcoin integration is going to be really exciting!!!

daenney 10y ago
That's great, as long as they do it in a way that allows both me and the driver not to have to wait an hour before the transaction gets confirmed. So either someone needs to shoulder that risk or those micropayment platforms on top of Bitcoin need to start making some headway.
darpa_escapee 10y ago
If there is one thing people love to be paid in, it is a collectible whose value widely varies daily based on when its larger holders game the system or when online drug markets get shutdown.
- thinkloop 10y ago
  It's likely/possible for the drivers to be insulated from that with something like bitpay that auto-converts to currency.
  - eriknstr 10y ago
    But if you auto-convert to currency then what's the point of using bitcoin at all?
    - dsernst 10y ago
      Just a guess— because it's easier for LibreTaxi to implement as a free open-source project, without needing to deal with IRS, banking, & other financial bureaucracy.
      - lmm 10y ago
        Means the drivers get to have all that fun themselves instead.
        thinkloop 10y ago
        They still have to file taxes and deal with banking if they get paid cash.
  - darpa_escapee 10y ago
    Bitcoin gatekeepers are slow and have delayed or altered conversions such that they profit due to fluctuations in Bitcoin value.
- bcook 10y ago
  I'm not completely sure whether you're referring to cash or Bitcoin.
  - ralmeida 10y ago
    How does cash vary in value? If you have a $50 bill, you can expect to buy a very predictable amount of food (for example) next week, regardless of what happens. Not so much if you have 0.0521 BTC.
    - bcook 10y ago
      There are plenty of cash currencies, aside from USD, that fluctuate wildly.
      - ralmeida 10y ago
        That's true, but most vary fluctuate wildly with respect to the USD, not in their purchasing power within their country of origin, even less so in the span of weeks or days. For example, if I was paid the equivalent of a 50 USD ride in Bitcoin in Jan 4, and were to go to buy food today, I could only buy 40 dollars worth of food. Which currency does that? Sure there may be a few examples in case of extreme inflation, etc, but it's not the norm at all.
        bcook 10y ago
        My point is that both are flawed and have their uses. I won't be paying any bills with Bitcoin any time soon.
  - darpa_escapee 10y ago
    Cash is liquid whereas Bitcoin is a collectible that can't be used to pay all debts. My last two points about Bitcoin's instability do not apply to cash. Cash doesn't have a few slow gatekeepers that also game the system in their favor when you go to convert your cash into a more liquid form.
madeofpalk 10y ago
I hope that's sarcasm that I'm sensing.

That's great, as long as they do it in a way that allows both me and the driver not to have to wait an hour before the transaction gets confirmed. So either someone needs to shoulder that risk or those micropayment platforms on top of Bitcoin need to start making some headway.

darpa_escapee 10y ago

If there is one thing people love to be paid in, it is a collectible whose value widely varies daily based on when its larger holders game the system or when online drug markets get shutdown.

thinkloop 10y ago
It's likely/possible for the drivers to be insulated from that with something like bitpay that auto-converts to currency.
- eriknstr 10y ago
  But if you auto-convert to currency then what's the point of using bitcoin at all?
  - dsernst 10y ago
    Just a guess— because it's easier for LibreTaxi to implement as a free open-source project, without needing to deal with IRS, banking, & other financial bureaucracy.
    - lmm 10y ago
      Means the drivers get to have all that fun themselves instead.
      - thinkloop 10y ago
        They still have to file taxes and deal with banking if they get paid cash.
- darpa_escapee 10y ago
  Bitcoin gatekeepers are slow and have delayed or altered conversions such that they profit due to fluctuations in Bitcoin value.
bcook 10y ago
I'm not completely sure whether you're referring to cash or Bitcoin.
- ralmeida 10y ago
  How does cash vary in value? If you have a $50 bill, you can expect to buy a very predictable amount of food (for example) next week, regardless of what happens. Not so much if you have 0.0521 BTC.
  - bcook 10y ago
    There are plenty of cash currencies, aside from USD, that fluctuate wildly.
    - ralmeida 10y ago
      That's true, but most vary fluctuate wildly with respect to the USD, not in their purchasing power within their country of origin, even less so in the span of weeks or days. For example, if I was paid the equivalent of a 50 USD ride in Bitcoin in Jan 4, and were to go to buy food today, I could only buy 40 dollars worth of food. Which currency does that? Sure there may be a few examples in case of extreme inflation, etc, but it's not the norm at all.
      - bcook 10y ago
        My point is that both are flawed and have their uses. I won't be paying any bills with Bitcoin any time soon.
- darpa_escapee 10y ago
  Cash is liquid whereas Bitcoin is a collectible that can't be used to pay all debts. My last two points about Bitcoin's instability do not apply to cash. Cash doesn't have a few slow gatekeepers that also game the system in their favor when you go to convert your cash into a more liquid form.

madeofpalk 10y ago

I hope that's sarcasm that I'm sensing.