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Are you joking? Bitcoin is a terrible medium for exchange of small quantities of money. A few places around where I live set up bitcoin payment machines a few y
by fredley 8y ago
Are you joking? Bitcoin is a terrible medium for exchange of small quantities of money. A few places around where I live set up bitcoin payment machines a few years ago. They all gave up. Transaction processing times reached over 30 minutes at the slowest times.
Cash is already the perfect medium for exchanging small amounts of money.
- metachris 8y ago> Cash is already the perfect medium for exchanging small amounts of money. Yes in person, but not over the internet. Crypto currencies definitely have potential for exchanging small amount of money there!
- dlubarov 8y agoThe parent wasn't talking about Bitcoin in particular though. Newer systems like Tendermint finalize transactions after a few seconds by running a consensus algorithm after each block. We're working on a system with a different consensus algorithm which should have subsecond latency. There are also layer 2 systems which can provide almost instant latency, albeit with some caveats.
- dqpb 8y agoOh yeah? Try exchanging a small amount of cash from the US with someone in Africa. Cash doesn't solve this problem. In fact there is no good current solution to this problem.
- Applethief 8y agoWhat are your thoughts on Ripple / XRP?
- sunshiney 8y agoPerhaps but cash is disgusting. Have you read how 90 percent of cash is covered with cocaine? Not to mention all the creepy crawlies on it... ewww...