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You need to sign up for a bank account if you want to use bitcoin in practice. Meeting up with random people in the streets to trade money for digital currency
by root_axis 8y ago
You need to sign up for a bank account if you want to use bitcoin in practice. Meeting up with random people in the streets to trade money for digital currency is definitely not easier than signing up for Venmo.
- sparkie 8y agoVenmo has the prerequisite that you have a bank account. That excludes a massive portion of the human population from the get go, and puts various obstacles in people's way depending on their background. Acquiring bitcoin will become incredibly simple with services like azte.co, which work in pretty much the same way that most people used to top up their pay-to-go phone less than 20 years ago. People forget how rapidly things move. If you think at the level of "this is how it works now", you will never comprehend the potential of Bitcoin. The exchanges which operate in the bitcoin space now will be about as relevant as phone booths were as a means of making phone calls remotely. People will forget they ever existed. The way most people will acquire Bitcoin in future is the way they currently acquire fiat money - in exchange for their time and labor. There won't be any other "exchange" process.