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i have paid and been paid overseas in bitcoin. as have others.. how is this not valuable? no one judge can take it away from me, and i value that as others do
by eof 8y ago
i have paid and been paid overseas in bitcoin. as have others.. how is this not valuable?
no one judge can take it away from me, and i value that as others do. i fail to see how a decentralized store of value and exchange is nil value
- hudon 8y agoI think you're arguing for the remittance use case but this has been shown to be inefficient compared to other methods [0][1][2]. Maybe lightning network will change that but again, it is just a wild guess from crypto-fans right now... and that's my point: why are we spending so much on hunches? Why aren't we building this thing responsibly if we know it costs so much in electricity? [0] https://www.coindesk.com/why-bitcoins-remittance-disruption-slowed-to-a-crawl/ https://www.coindesk.com/why-bitcoins-remittance-disruption-... [1] https://medium.com/cryptonight/bitcoin-doesn-t-make-remittances-cheaper-eb5f437849fe https://medium.com/cryptonight/bitcoin-doesn-t-make-remittan... [2] https://www.saveonsend.com/blog/bitcoin-blockchain-money-transfer/ https://www.saveonsend.com/blog/bitcoin-blockchain-money-tra...
- eof 8y agoi am not talking about remittances though that is also a legit use case. i just meant overseas business. i don't really see its electricity use as a big issue since market forces will inevitably reduce cost or increase supply. part of the reason though people will put a lot into an experiment like this is that the network effect is important to its success. needs to be very liquid. for me personally having a fungible electronic currency that cannot be taken away by law or inflation is itself valuable