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I'm glad to see the adoption of such changes. The 'hodl' crowd have changed their talking points to 'Bitcoin is an asset, not a currency' but as far as I'm conc

by firasd 9y ago

I'm glad to see the adoption of such changes. The 'hodl' crowd have changed their talking points to 'Bitcoin is an asset, not a currency' but as far as I'm concerned, if that's how it ends up--if you can't pragmatically buy a $2 cup of coffee with BTC--it would really puncture the immense promise of decentralized financial tech.

Beldur 9y ago
You also can't buy a cup of coffee with TCP/IP. But with PayPal you can. Bitcoin is not ment to be used for buying coffee. But software based on it is.
- lox 9y ago
  Do you mean “blockchain”? Because bitcoin was designed as a currency. It’s in the name.
sova 9y ago
You can't buy a cup of coffee with a slice of a gold bar either!
- IntronExon 9y ago
  I’m pretty sure that if you offered one to the person behind the counter, good and coffee would rapidly be exchanged.
  - richardw 9y ago
    Not if it's an equivalent amount of gold. Nobody has time to deal with a couple bucks worth of precious metal
- deleted 9y ago
  [deleted]
- onoffswitch 9y ago
  That was kind of his point. Crypto sounds less like a revolution if markets treat it as an asset; as opposed to treating it as a currency.
  - mrep 9y ago
    With all the crypto hacks which can cause you to lose everything, cryptocurrencies are the last place I would want to redistribute any of my current assets.
    - Hippocrates 9y ago
      If you protect your private keys properly (and therefore actually own your bitcoin) it is not feasible for someone to steal it. At least it through a hack. The hacks you hear about are about stealing an exchange’s private keys which are are not adequately protected and are holding BTC on the users behalf.
- firasd 9y ago
  Yeah and that's the problem. Gold bars haven't solved the problem of e.g. banks taking multiple days to clear deposits (not counting holidays and weekends!), or credit card processing fees, and I'm hoping Bitcoin provides competition... but for that, BTC transfers need to be quick and cheap.
- yorby 9y ago
  gold is very soft, technically it would be possible with the right scale and knife...
- nasso 9y ago
  And that is why gold is a horrible day-to-day currency.
  - grzm 9y ago
    One benefit of gold is that you can make more of it every day by placing your coins in a bag and shaking. The energy you put into the bag causes more gold to be produced in the form of dust within the bag. Helps work against inflation! https://en.wikipedia.org/wiki/Methods_of_coin_debasement https://en.wikipedia.org/wiki/Methods_of_coin_debasement
    - philipwhiuk 9y ago
      Big deal, you can do the same with milk: https://youtu.be/ToZ4Z9qlb4k?t=29 https://youtu.be/ToZ4Z9qlb4k?t=29
- icelancer 9y ago
  You don't have to assay Bitcoin.
  - sova 9y ago
    Confirmation times = assaying BTC
deleted 9y ago
[deleted]
pas 9y ago
https://steemit.com/bitcoin/@kingscrown/ever-tried-lighting-network-and-blockassino-coffee https://steemit.com/bitcoin/@kingscrown/ever-tried-lighting-...

by firasd 9y ago

Beldur 9y ago

You also can't buy a cup of coffee with TCP/IP. But with PayPal you can. Bitcoin is not ment to be used for buying coffee. But software based on it is.

lox 9y ago
Do you mean “blockchain”? Because bitcoin was designed as a currency. It’s in the name.

sova 9y ago

You can't buy a cup of coffee with a slice of a gold bar either!

IntronExon 9y ago
I’m pretty sure that if you offered one to the person behind the counter, good and coffee would rapidly be exchanged.
- richardw 9y ago
  Not if it's an equivalent amount of gold. Nobody has time to deal with a couple bucks worth of precious metal
deleted 9y ago
[deleted]
onoffswitch 9y ago
That was kind of his point. Crypto sounds less like a revolution if markets treat it as an asset; as opposed to treating it as a currency.
- mrep 9y ago
  With all the crypto hacks which can cause you to lose everything, cryptocurrencies are the last place I would want to redistribute any of my current assets.
  - Hippocrates 9y ago
    If you protect your private keys properly (and therefore actually own your bitcoin) it is not feasible for someone to steal it. At least it through a hack. The hacks you hear about are about stealing an exchange’s private keys which are are not adequately protected and are holding BTC on the users behalf.
firasd 9y ago
Yeah and that's the problem. Gold bars haven't solved the problem of e.g. banks taking multiple days to clear deposits (not counting holidays and weekends!), or credit card processing fees, and I'm hoping Bitcoin provides competition... but for that, BTC transfers need to be quick and cheap.
yorby 9y ago
gold is very soft, technically it would be possible with the right scale and knife...
nasso 9y ago
And that is why gold is a horrible day-to-day currency.
- grzm 9y ago
  One benefit of gold is that you can make more of it every day by placing your coins in a bag and shaking. The energy you put into the bag causes more gold to be produced in the form of dust within the bag. Helps work against inflation! https://en.wikipedia.org/wiki/Methods_of_coin_debasement https://en.wikipedia.org/wiki/Methods_of_coin_debasement
  - philipwhiuk 9y ago
    Big deal, you can do the same with milk: https://youtu.be/ToZ4Z9qlb4k?t=29 https://youtu.be/ToZ4Z9qlb4k?t=29
icelancer 9y ago
You don't have to assay Bitcoin.
- sova 9y ago
  Confirmation times = assaying BTC

deleted 9y ago

[deleted]

pas 9y ago

https://steemit.com/bitcoin/@kingscrown/ever-tried-lighting-network-and-blockassino-coffee https://steemit.com/bitcoin/@kingscrown/ever-tried-lighting-...