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Probably wouldn't. You need something that scales if all are to use it. Bitcoin, in the current form doesn't at a level to replace Visa tap pay. For example, fo
by quickben 9y ago
Probably wouldn't. You need something that scales if all are to use it. Bitcoin, in the current form doesn't at a level to replace Visa tap pay. For example, for a country of 20 million buying bagels on their way to work.
- mbrock 9y agoBy this standard, gold and USD also don't really scale, because you can't send them fast enough. Interbank clearing is pretty slow. We already have exchanges and clearinghouses like Coinbase for example. It's easy to imagine a Bitcoin-backed payment infrastructure offered by Coinbase or a Visa-like consortium of exchanges. Of course this taps into a huge and messy ideological debate about what kind of thing Bitcoin ought to be.
- quickben 9y agoWhatever it ought to be, it should start by supporting more than 25M transactions a day. I hear people preaching wider adoption by all means, but none tackles the limits. I apologize, but it looks like the proponents want money in, and scarcity remaining.
- hackinthebochs 9y agoSegwit can enable that kind of scaling.