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I can rent a moving truck to get groceries, but that doesn't mean it's a good idea. There might be narrow use cases, but that doesn't mean it's the best realist
by Kye 6y ago
I can rent a moving truck to get groceries, but that doesn't mean it's a good idea. There might be narrow use cases, but that doesn't mean it's the best realistic way to solve every problem, and it doesn't mean it's worth the cost.
- fullstop 6y agoI hear what you're saying, but it's not nearly as "narrow" as you suggest. Remittances from the United States total hundreds of billions of US dollars each year [1]. Even with what I feel are bloated fees associated with Bitcoin, it is vastly cheaper than other services like Western Union. 1. https://www.pewresearch.org/global/interactives/remittance-flows-by-country/ https://www.pewresearch.org/global/interactives/remittance-f...
- Kye 6y agoThe concern here is power use vs. utility relative to other options, not price. By cost I meant the cost under discussion: environmental and health. How much energy do remittance services use to move an equivalent amount of money? What about the cost to health and the environment?
- shawnz 6y agoThe utility isn't solely measured by the amount of money a financial service can move, or the amount of transactions it can process. If that were true, Western Union would obviously have less utility than Visa. But actually, WU and Visa solve totally different problems with different risks associated, so it doesn't make sense to compare them in that way.
- shawnz 6y agoWho is claiming that Bitcoin is the right tool for every job, besides hype artists? And how do we judge whether the market price is "worth" the use cases or not? Isn't that exactly what the market is doing in pricing the asset?