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People actually use Bitcoin in Venezuela [0], not en mass, but still, it provides some very useful escape hatches for a part of the population. 0. https://www.
by lifty 6y ago
People actually use Bitcoin in Venezuela [0], not en mass, but still, it provides some very useful escape hatches for a part of the population.
0. https://www.bbc.com/news/business-47553048 https://www.bbc.com/news/business-47553048
- arcticbull 6y agoPart of the population solves none of the problem, as I outlined. The monthly minimum wage is 1 bitcoin transaction fee. It's only the wealthy that can afford to use it in the first place. It's doing nothing to increase the total welfare of the system. I never disputed that a select few couldn't benefit from it, it's not a good general solution, though.
- zalkota 6y agoThen use dai? Much lower fee. When ethereum scales to thousands of transactions a second, it will be the top solution.
- arcticbull 6y agoThat does not solve the initial distribution problem.