3 ms·
Wrong. Bitcoin is literally digital cash: it is held in your wallet and transacted directly from wallet to wallet. There is no third-party intermediary (like a
by mrb 9y ago
Wrong. Bitcoin is literally digital cash: it is held in your wallet and transacted directly from wallet to wallet. There is no third-party intermediary (like a bank or credit card processor) whose authorization is needed to make a transaction. This is what makes it cash-like.
- qplex 9y ago>no third-party intermediary ... whose authorization is needed to make a transaction. This is what makes it cash-like. You need to get your transactions accepted to the ledger and you need to pay for that to happen as well (I guess whether the mining network is a third party is debatable). Not mentioning that people will most likely use some sort of intermediary for their digital wallet to begin with.