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>What problem / which problems are being solved here? Lets say I want to transfer some assets to a guy without anyone knowing from any internet connection. The
by s_dev 6y ago
>What problem / which problems are being solved here?
Lets say I want to transfer some assets to a guy without anyone knowing from any internet connection. There is a demand for this global service.
Crypto-currency faciliates this. You buy crypto with your normal currency. Transfer. Switch back to normal currency. Yes you've endured some volatility in price but the whole operation was done in an hour or so.
So legit business will set up as "Bitcoin Banks" allowing people to trade in and out of them.
It's truly "digital cash".
- prussian 6y agoso basically, we're inefficiently reinventing payment processing with the added tax burden of buying/selling securities?
- apexalpha 6y agoWell for what's it worth I've only ever needed it once. I was moving out of China and wanted to take my money with me. It was really hard to get this done, there are tons of capital restrictions and the banks literally wouldn't help me out. So I put all my money in the BTC blockchain in China and pulled it out in the EU. The other option was to get it in cash and physically bring it over the border, which I considered riskier.
- s_dev 6y ago>reinventing No reinventing -- this tech doesn't require a middleman. Unprecedented.
- dmihal 6y ago> Yes you've endured some volatility in price Not if you use stablecoins like Dai :)