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Id like to also add that there are an order of magnitude more transaction options provided by cryptocurrencies than there are for fiat payment systems. Id bet m
by deevolution 9y ago
Id like to also add that there are an order of magnitude more transaction options provided by cryptocurrencies than there are for fiat payment systems. Id bet money that, collectively, the cryptocurrency ecosystem is able to process more transactions per second than all of the leading fiat processors combined.
- moonbug 9y agoYou live in a fantasy land.
- jjeaff 9y agoProbably, but only because crypto doesn't scan for fraud and abuse among other things. Monero is happy to let someone completely empty your life savings. Cc processors on the other hand are on the hook for fraud, so they are checking every transaction to make sure it doesn't match certain hueristics that could indicate theft or fraud.
- deevolution 9y agoI'm optimistic crypocurrencies (not all, but some) will achieve global adoption as a payment option. I think its possible to build a cryptocurrency that could emulate the fraud / refund detection features of cc processors. If there isn't one out there, I'm sure it will exist in the future. I certainly don't see monero being used in my local bodega or as a mainstream currency because thats not really what monero is trying to achieve.
- stryk 9y agoI'd take that bet in a hot second (not that we could ever get verifiable numbers to prove it). There's just no way sorry