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Bitcoin is the most expensive and risky(for the client due volatility) method of payment I've ever used. Why would a bank or a client use it? Source: We used t
by thefounder 8y ago
Bitcoin is the most expensive and risky(for the client due volatility) method of payment I've ever used. Why would a bank or a client use it?
Source: We used to accept bitcoin(via bitay).
- deleted 8y ago[deleted]
- olefoo 8y agoThis is not Bitcoin, it's a stablecoin with a guarantor. The failure modes of DLT are going to be interesting. But the currency risk is far lower than with regular bitcoin since it's not an independent currency but is pegged to the dollar.
- bduerst 8y agoWhich means you should just use dollars instead of a bank's walled-garden coin.
- olefoo 8y agoIt's in a fuzzy gray area; it's more an accounting unit than a separate currency. The main advantage I see is that JPM does not have to spend as much on internal controls if txns are recorded in a multi-party ledger. The benefit to customers is that they could in theory trade JPMCoin with other bank customers and have some of the "programmable money" benefits of ethereum without the risk and regulatory exposure.