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> Cryptocurrency is cash (with the benefit of not having to be close to someone for a transfer) If not having to be close to the payee is the only benefit of c
by Mordisquitos 6y ago
> Cryptocurrency is cash (with the benefit of not having to be close to someone for a transfer)
If not having to be close to the payee is the only benefit of cryptocurrency over cash, that problem has been solved for literally centuries by the concept of giro transfers.
- StavrosK 6y agoCan I make a giro transfer without a third party intervening? Then it would be comparable, yes.
- Mordisquitos 6y agoThat is if you don't consider the public blockchain and its nodes as a "third party". Can you make a cryptocurrency exchange without a third party ever knowing that it took place or leaving any trace of it? You can with cash.
- StavrosK 6y agoDepending on which cryptocurrency you use, you can (e.g. Monero).
- TeMPOraL 6y ago> that problem has been solved for literally centuries by the concept of giro transfers Tangential: From Wikipedia, "A giro transfer (...) is a payment transfer from one bank account to another bank account and initiated by the payer, not the payee. The debit card has a similar model." Maybe it's my European bias speaking, but how does that even deserve a weird name? Isn't this how normal paying works? Who else should initiate the transfer? The payee? Why?