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Bitcoin will solve this problem.

by justinzollars 7y ago

EpicEng 7y ago
Not until it's near as stable as the dollar it won't.
- mirekrusin 7y ago
  It's easy to avoid this kind of problems: - convert to fiat - open sell order against fiat - convert to stable coin ...or just for PH to support stable coins internally. As weird as it sounds I honestly think they should pair with one/more exchanges to support low friction onboarding/exchange - who knows, maybe some of them will convert to traders! :)
- justinzollars 7y ago
  There is pretty high liquidity, no need to save it. You could instantaneously buy/receive through coinbase. And have your dollars.
- microtherion 7y ago
  And not until average confirmation times of a transaction drop significantly below the average duration of an erection.
- a13n 7y ago
  Tether follows the dollar (1 Tether === $1.00 USD).
  - Qwertystop 7y ago
    Not anymore, is it? Last I heard they were in pretty significant legal trouble due to not actually having the 1:1 real-doller backing they claimed to, or other assets of equivalent value, among other issues.
    - a13n 7y ago
      "All Tether tokens are fully backed by reserves." https://www.coindesk.com/tether-says-its-stablecoin-is-fully-backed-again https://www.coindesk.com/tether-says-its-stablecoin-is-fully... Tether (USDT) $1.00 USD https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/
jlgaddis 7y ago
It's had a decade and it hasn't yet.
- lawn 7y ago
  20 years after the invention of the light bulb, one of the most important inventions of all time, only 3% in the U.S. were using it. We sometimes forget it, but a decade isn't a long time.
  - spookthesunset 7y ago
    LOL. And don't forget it took tens to hundreds of thousands of years after the discovery of fire to adopt the internal combustion engine. A decade is an eternity in the tech world. If bitcoin had a use case, we'd all be using it by now.
    - mopsi 7y ago
      Payments are not "tech", they're finance. Things move very slow there. We can message each other peer-to-peer in real time with end-to-end encryption, but financial messages still move in batches over a 1970s centralized communication system, in plain text and in "near" real time (hours to days), with all limitations of those times affecting how business gets done in 2019. Judging by the finance industry standards, public-key authentication has yet to prove itself.
  - hollerith 7y ago
    >only 3% in the U.S. were using it -- because it was impractical for most prospective light-bulb users to generate their own electricity and it took decades to build out a network for distributing and metering electricity.
    - RandomBacon 7y ago
      And it will take a long time to build out a network for cryptocurrency.
    - 7y ago

Bitcoin will solve this problem.

EpicEng 7y ago

Not until it's near as stable as the dollar it won't.

mirekrusin 7y ago
It's easy to avoid this kind of problems: - convert to fiat - open sell order against fiat - convert to stable coin ...or just for PH to support stable coins internally. As weird as it sounds I honestly think they should pair with one/more exchanges to support low friction onboarding/exchange - who knows, maybe some of them will convert to traders! :)
justinzollars 7y ago
There is pretty high liquidity, no need to save it. You could instantaneously buy/receive through coinbase. And have your dollars.
microtherion 7y ago
And not until average confirmation times of a transaction drop significantly below the average duration of an erection.
a13n 7y ago
Tether follows the dollar (1 Tether === $1.00 USD).
- Qwertystop 7y ago
  Not anymore, is it? Last I heard they were in pretty significant legal trouble due to not actually having the 1:1 real-doller backing they claimed to, or other assets of equivalent value, among other issues.
  - a13n 7y ago
    "All Tether tokens are fully backed by reserves." https://www.coindesk.com/tether-says-its-stablecoin-is-fully-backed-again https://www.coindesk.com/tether-says-its-stablecoin-is-fully... Tether (USDT) $1.00 USD https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/

jlgaddis 7y ago

It's had a decade and it hasn't yet.

lawn 7y ago
20 years after the invention of the light bulb, one of the most important inventions of all time, only 3% in the U.S. were using it. We sometimes forget it, but a decade isn't a long time.
- spookthesunset 7y ago
  LOL. And don't forget it took tens to hundreds of thousands of years after the discovery of fire to adopt the internal combustion engine. A decade is an eternity in the tech world. If bitcoin had a use case, we'd all be using it by now.
  - mopsi 7y ago
    Payments are not "tech", they're finance. Things move very slow there. We can message each other peer-to-peer in real time with end-to-end encryption, but financial messages still move in batches over a 1970s centralized communication system, in plain text and in "near" real time (hours to days), with all limitations of those times affecting how business gets done in 2019. Judging by the finance industry standards, public-key authentication has yet to prove itself.
- hollerith 7y ago
  >only 3% in the U.S. were using it -- because it was impractical for most prospective light-bulb users to generate their own electricity and it took decades to build out a network for distributing and metering electricity.
  - RandomBacon 7y ago
    And it will take a long time to build out a network for cryptocurrency.
  - 7y ago