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I don't understand how this holds true though, because to actually send someone money you need to actually... get them the money. A great counter-example of thi
by slivym 9y ago
I don't understand how this holds true though, because to actually send someone money you need to actually... get them the money. A great counter-example of this is that the exchanges in Zimbabwe were trading at a 100% premium when you actually wanted to settle a transaction in cash.
So whilst you can transfer money censorship free, you and the recipient need to then handle the transfer into and out of crypto which seems to be in many cases more difficult than actually transferring money other ways.
Not to mention the fact that that purpose is an astonishingly niche thing to want to do - at least in first world countries.
Are you suggesting crypto has no long-term value in the west?
- theseatoms 9y agoDoes purchasing goods or services directly with bitcoin count as "handl[ing] the transfer into and out of crypto"? Doesn't "crypto" then simply become "money"? Don't get me wrong. That vision of the future isn't here yet. Far too few vendors accept bitcoin today for it to be a viable closed loop system.
- Daishiman 9y agoNobody's going to be using crypto for direct purchases when you still have to pay taxes in local currency and the friction to get cash from crypto is just as high as today's friction in interbanking transfers or worse.