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> An ACH transfer through my bank takes multiple days But that's just a regulation and/or implementation issue. You can transfer in minutes between countries
by audunw 6y ago
> An ACH transfer through my bank takes multiple days
But that's just a regulation and/or implementation issue.
You can transfer in minutes between countries in different currencies without blockchain.
The fact that your country is stuck in the stone age in this regard isn't really a good argument that cryptocurrencies fundamentally provide value over a solution without blockchains.
I guess the main value blockchain could provide here is to give banks and politicians a kick in the butt, and force them to invest in solutions and regulations that speed up money transfers.
- afiori 6y agoIn practical terms the main value of cripto is to people that are legally forbidden to access these kind of services. Even if the Nigerian prince was a scan there are many countries where limited access to financial services is unescapable; it is to them that crypto has the greatest value proposition (whether it will be good or bad in reality I have no idea)
- UncleMeat 6y agoThat’d be true if the BCH people won, but btc as a mechanism to evade oppressive governments doesn’t work for the masses when transaction costs are so high.
- imtringued 6y agoYes, nowadays Bitcoin is just a shell of its former self. It simply is not practical for anything other than Tulip manias. That's incredibly sad. Practical usage of Bitcoin doesn't even compete with the speculation beyond transaction capacity. If anything speculators would prefer an economy built on Bitcoin that actually guarantees that it's more than just an instrument for speculation.