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Bitcoin presumes (1) everyone owns a computer (or a smartphone/similar) and (2) everyone has network connectivity all the time. Without these two things, one ca

Bitcoin presumes (1) everyone owns a computer (or a smartphone/similar) and (2) everyone has network connectivity all the time. Without these two things, one cannot transact. There are huge swaths of the world where this isn't true. Short of making computing devices and internet connectivity human rights, these assumptions compound existing inequalities.

drexlspivey 6y ago
Performing an online transaction requires a credit card or a bank account which is a far stricter requirement than a smartphone which you can get for 20 bucks
- ianmobbs 6y ago
  There are also huge swathes of the world where nobody has credit cards or bank accounts. This isn't an argument for Bitcoin as much as it is for physical currency
wmf 6y ago
You could always issue "paper" bills that are denominated/backed by BTC. Such currency wouldn't have all the benefits of Bitcoin but it wouldn't be worse (from a coiner's perspective) than existing paper money that people are using today.
- ianmobbs 6y ago
  Who is the one backing those paper bills? This brings back centralized banking, which is what most folks in favor of replacing fiat currency with Bitcoin are working away from
  - wmf 6y ago
    Yes, there would be a centralized entity printing and custodying the BTC behind the bills, but all paper money today is also controlled by centralized entities. So in this scenario, digital BTC would be "real Bitcoin" and paper BTC would be "Bitcoin light".
pamicel 6y ago
A coin or a bank note are far from being non-technologies, and the logistics to getting them to where they are needed are underrated. Connectivity and devices are not that big of a leap forward from there and seeing how hungry western and Asian businesses are to open new markets in underserved areas, it’s unlikely lack of connectivity itself will further inequalities. Not for long anyways. The need for powerful computing gear could, maybe, if there is any advantage to being part of the mining network...
splix 6y ago
Take a look at OpenDime [1] + ColdPower [2]. First is a one-time hardware private key, with physical protection of it (i.e. you need to break the device psychically to extract bitcoins), and ability to verify address by plugin-in into USB. Second is a USB power from 9-volt battery. So you can check that the OpenDime is active. The only hard part is verifying the balance you need an access to blockchain network. Not necessary to do that through internet, because you can receive it though satellite now [3], but you still need a computer, that's the fact. 1. https://opendime.com/ https://opendime.com/ 2. https://usbcoldpower.com/ https://usbcoldpower.com/ 3. https://blockstream.com/satellite/ https://blockstream.com/satellite/
andirk 6y ago
Technically, you could literally do the cryptographic math to figure out the validity of a transaction, and then add it to a block down the road when you get a chance, sooner rather than later to not allow double spending

drexlspivey 6y ago

Performing an online transaction requires a credit card or a bank account which is a far stricter requirement than a smartphone which you can get for 20 bucks

ianmobbs 6y ago
There are also huge swathes of the world where nobody has credit cards or bank accounts. This isn't an argument for Bitcoin as much as it is for physical currency

wmf 6y ago

You could always issue "paper" bills that are denominated/backed by BTC. Such currency wouldn't have all the benefits of Bitcoin but it wouldn't be worse (from a coiner's perspective) than existing paper money that people are using today.

ianmobbs 6y ago
Who is the one backing those paper bills? This brings back centralized banking, which is what most folks in favor of replacing fiat currency with Bitcoin are working away from
- wmf 6y ago
  Yes, there would be a centralized entity printing and custodying the BTC behind the bills, but all paper money today is also controlled by centralized entities. So in this scenario, digital BTC would be "real Bitcoin" and paper BTC would be "Bitcoin light".

pamicel 6y ago

A coin or a bank note are far from being non-technologies, and the logistics to getting them to where they are needed are underrated. Connectivity and devices are not that big of a leap forward from there and seeing how hungry western and Asian businesses are to open new markets in underserved areas, it’s unlikely lack of connectivity itself will further inequalities. Not for long anyways. The need for powerful computing gear could, maybe, if there is any advantage to being part of the mining network...

splix 6y ago

Take a look at OpenDime [1] + ColdPower [2]. First is a one-time hardware private key, with physical protection of it (i.e. you need to break the device psychically to extract bitcoins), and ability to verify address by plugin-in into USB. Second is a USB power from 9-volt battery. So you can check that the OpenDime is active. The only hard part is verifying the balance you need an access to blockchain network. Not necessary to do that through internet, because you can receive it though satellite now [3], but you still need a computer, that's the fact. 1. https://opendime.com/ https://opendime.com/ 2. https://usbcoldpower.com/ https://usbcoldpower.com/ 3. https://blockstream.com/satellite/ https://blockstream.com/satellite/

andirk 6y ago

Technically, you could literally do the cryptographic math to figure out the validity of a transaction, and then add it to a block down the road when you get a chance, sooner rather than later to not allow double spending