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ahh, thats the trick isnt it -- blockchain provides universal currency. No need for local currency handing, banks, cc processors, forex transfer providers, and
by 45h34jh53k4j 9y ago
ahh, thats the trick isnt it -- blockchain provides universal currency. No need for local currency handing, banks, cc processors, forex transfer providers, and all the things associated with local payment processors. While i dont think this is the first or is it truely useful, but yes, blockchain (specifically bitcoin) is providing a decentralized universal currency for use in decentralized systems like email. Its a valid point.
- wpietri 9y agoIn theory, perhaps. In practice, it provides a universally inconvenient currency. If somebody wants to send me money to read an email, then I want to be able to spend that money. If they send me bitcoin, I can't spend it directly: https://www.nytimes.com/2018/04/16/nyregion/new-york-today-living-on-bitcoin.html https://www.nytimes.com/2018/04/16/nyregion/new-york-today-l... Ergo, I am right back in need some way to convert it into my local currency. Except far less conveniently than just letting my bank take care of the exchange, as they would with an international wire transfer. Also, as I explain elsewhere, the forex thing is a solution looking for a problem: https://news.ycombinator.com/item?id=16854526 https://news.ycombinator.com/item?id=16854526 The reason I'd pay somebody to read an email is so that I can do business with them, and for a fair bit more money than I pay for the email. That involves one of us paying the other. Which in practice will mean a real currency, not cryptotulips.
- free-trampolin 9y agoI might add, that exchanging these BTC into fiat is a taxable event.