4 ms·
All of those are the same problems money has. Refunds capability is something built on top of cash. It will be built on top of cryptocurrencies. Money can be s
by xtracto 6y ago
All of those are the same problems money has. Refunds capability is something built on top of cash. It will be built on top of cryptocurrencies. Money can be stolen and locked and hidden and whatnot.
- UncleMeat 6y agoBut if it is built on top of cryptocurrencies then you don't have the trustlessness that makes it different from cash and banking. Why would banks and businesses choose to transact primarily in btc?
- DownGoat 6y agoBecause the markets wants to trade on it. Going with the assumption that crypto will "succeed" in the future, any business or bank not trading on it would be loosing out to businesses that are capable to do both.
- UncleMeat 6y agoThat is circular. BTC will succeed as an investment because it will supplant other systems for banking. BTC will supplant other systems for banking because it succeeds as an investment.
- xtracto 6y agoI think that's the same issue that every new technology related to network effects has had. Like Napster, Myspace, facebook, etc
- nelsonenzo 6y agoYes, and we have built safety measures to protect individuals in these cases, none of which work in a trustless key-based storage world.