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> there's almost no significant legal use beyond speculation Citing an article about a guy trying to use it exclusively is a bit odd as a source for "almost no
by xorcist 8y ago
> there's almost no significant legal use beyond speculation
Citing an article about a guy trying to use it exclusively is a bit odd as a source for "almost no use".
The big payment processors process up to over a billion dollars of completely normal white market payments per year. That's likely mostly enthusiasts, but still a decent chunk to make a profitable business or two from, and very far from "almost no use".
"Cash" has a very specific meaning from those interested in private currencies, which has nothing to do with how well adopted it is. It means something that is a transfer of value (and not an IOU), that is fungible, with private transactions between parties. Bitcoin is questionable on the latter but pretty good on the former. The white paper must be understood in this context.
The fact that Bitcoin has value at all is an astounding success, compared to what most other casuals observers (myself included) thought about it.
- wpietri 8y ago> The big payment processors process up to over a billion dollars of completely normal white market payments per year. I would love to see your data for that. But "big payment processors" are definitely the opposite of "peer-to-peer electronic cash". We already had big payment processors. Those are much more efficient. > fact that Bitcoin has value at all is an astounding success It strikes me as a pretty uninteresting kind of success. Tulip bulbs and Beanie Babies both had very high valuation for a while. But in the long term, prices generally fall back to what's sustained by use.