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They never will be. I think people misunderstand cryptocurrencies because of the mania that surrounds them. Bitcoin, for example, is a protocol, and should be j
by ecwilson 8y ago
They never will be. I think people misunderstand cryptocurrencies because of the mania that surrounds them. Bitcoin, for example, is a protocol, and should be judged as such. The most important thing for the protocol is trust, reliability, and scalability. Not UX and convenience. That could/should come from the layers/products that get built on top of the protocol.
- criddell 8y agoSatoshi Nakamoto did say this: > The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. He clearly expected Bitcoin to cheaper and faster than credit cards and I've often wondered how he could have been so wrong about that.
- magnamerc 8y agoThat's likely because he expected the block size to increase in addition to second layer scaling solutions.
- Nursie 8y agoAnd Bruce Schneier says the trust thing is a bust - it moves trust, rather than eliminating it. Usually to parties that I have far fewer reasons to trust.