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Now I'm confused. Bitcoin is not lighter weight than existing digital cash. It's not really lighter weight than anything. Well, possibly the large hadron collid
by Grustaf 6y ago
Now I'm confused. Bitcoin is not lighter weight than existing digital cash. It's not really lighter weight than anything. Well, possibly the large hadron collider consumes more, I don't know.
- jcbrand 6y agoThere is no such thing as digital cash outside of cryptocurrencies. The money in your bank account is a liability of the bank, it's not cash.
- Grustaf 6y agoYou can go through life without ever using physical cash. You get paid digitally, you buy groceries digitally. You even borrow money for a house digitally. The thing you transact with is digital, liquid and fungible. In what sense is it not cash?
- mj4m1n 6y agoAll those transactions are reversible at any point with a flip of a bit (or two). If you receive physical cash, it's in your control. Now if only that cash could not be inflated as much as it can.
- Grustaf 6y agoI don’t think any common definition of cash includes the idea that payments are “irreversible”. I don’t even see why this is so important. If someone pays me physical cash by mistake they have legal recourse to get it back. It’s not finder’s keepers.