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> Bitcoin is technologically obsolete but that doesn't matter. Which just underlines how much of this whole phenomenon is brand and hype.

by Nursie 6y ago

fwiwm2c 6y ago
Says someone who is using 1970s technology called ACH and SWIFT to send money over. At least be aware of what is happening around you before attacking other technologies.
- tablespoon 6y ago
  > Says someone who is using 1970s technology called ACH and SWIFT to send money over. At least be aware of what is happening around you before attacking other technologies. Technology isn't a linear tech tree with newer == better. In some very real ways, Bitcoin is like a a new car design with some interesting new technologies (e.g. a satellite radio receiver) but that doesn't support other technologies like seatbelts. Dismissing something as "<past-time-period> technology" is lazy. You really need to compare explicit pros and cons.
- briatx 6y ago
  Pretty sure ACH and SWIFT can do more than 7 transactions per second. Talk about a step backward.
- spiralx 6y ago
  > Says someone who is using 1970s technology called ACH and SWIFT to send money over. In Europe SEPA Instant requires transfers take less than 10 seconds in anything other than exceptional circumstances, and costs the same to transfer between any of the 36 member countries. > At least be aware of what is happening around you before attacking other technologies. Ironic. So many discussions of Bitcoin's utility implicitly assume that the rest of the world also has the same sort of antiquated banking and payment systems used in the US.
matheusmoreira 6y ago
Perhaps. Due to high transaction fees and processing times, Bitcoin is unsuitable for use as an exchange medium. It's become an investment, a speculative asset. The value will exist for as long as people believe it is valuable. Brand and hype do help create this value in people's eyes.

> Bitcoin is technologically obsolete but that doesn't matter. Which just underlines how much of this whole phenomenon is brand and hype.

by Nursie 6y ago

> Bitcoin is technologically obsolete but that doesn't matter. Which just underlines how much of this whole phenomenon is brand and hype.

fwiwm2c 6y ago

Says someone who is using 1970s technology called ACH and SWIFT to send money over. At least be aware of what is happening around you before attacking other technologies.

tablespoon 6y ago
> Says someone who is using 1970s technology called ACH and SWIFT to send money over. At least be aware of what is happening around you before attacking other technologies. Technology isn't a linear tech tree with newer == better. In some very real ways, Bitcoin is like a a new car design with some interesting new technologies (e.g. a satellite radio receiver) but that doesn't support other technologies like seatbelts. Dismissing something as "<past-time-period> technology" is lazy. You really need to compare explicit pros and cons.
briatx 6y ago
Pretty sure ACH and SWIFT can do more than 7 transactions per second. Talk about a step backward.
spiralx 6y ago
> Says someone who is using 1970s technology called ACH and SWIFT to send money over. In Europe SEPA Instant requires transfers take less than 10 seconds in anything other than exceptional circumstances, and costs the same to transfer between any of the 36 member countries. > At least be aware of what is happening around you before attacking other technologies. Ironic. So many discussions of Bitcoin's utility implicitly assume that the rest of the world also has the same sort of antiquated banking and payment systems used in the US.

matheusmoreira 6y ago

Perhaps. Due to high transaction fees and processing times, Bitcoin is unsuitable for use as an exchange medium. It's become an investment, a speculative asset. The value will exist for as long as people believe it is valuable. Brand and hype do help create this value in people's eyes.