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It's not trivial to get money into the cryptocurrency system as it is even with trusted companies like Coinbase. For it to come closer to ubiquity, it's going
by redm 9y ago
It's not trivial to get money into the cryptocurrency system as it is even with trusted companies like Coinbase. For it to come closer to ubiquity, it's going to need to be trusted companies to help money enter the market and for it to be used as universally as VISA or Mastercard. Those payment points (Best Buys, Amazon, etc.) and hard currency exchange points (CoinBase, Gemini, etc.) are always going to be subject to regulation by local governments, as they should be.
Trusted points and regulation/taxes doesn't remove the benefits (distributed nature, smart contracts, and visibility) of a cryptocurrency like Ethereum. They are going to grow based on big corporate support and adoption. In fact, it's already happening: http://www.cnbc.com/2017/05/23/bigger-than-bitcoin-enterprise-ethereum-alliance-grows-in-size.html http://www.cnbc.com/2017/05/23/bigger-than-bitcoin-enterpris...
- relyio 9y agoIt is actually surprisingly difficult. I have been trying to open a Coinbase account for like two weeks. First week I was stuck in a limbo state where my attempts at adding my visa were stuck (because of a bug on their end - took them long enough to fix, must be interesting being VP of Operations at Coinbase). Now, I have finally added it, but it is in a "pending state" and the verification process is taking too long than it is worth. How do people do it (buying BTC, or ETH)?
- redm 9y agoI have the same problem but imagine the alternatives. One reason it's so bad the last 2 weeks is the volume. The US exchanges have been hammered. Week to verify my bank on Coinbase, a week to verify my ID on Gemini.