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It's a good experiment: - we'll see how good of a currency it is - how creative people are when trying to avoid delays / transaction costs. - how law enforce
by adriancr 5y ago
It's a good experiment:
- we'll see how good of a currency it is
- how creative people are when trying to avoid delays / transaction costs.
- how law enforcement will work when money is stolen. (imagine their government's funds getting stolen, ordinary people I doubt they will do much)
I assume they will likely make their own exchange where people can park funds and 'transfer' funds on paper. This also solves returning money back and so on.
- standyro 5y agoLol doesn’t this defeat the whole point of a decentralized currency? You basically just described a modern bank
- adriancr 5y agoThat is unfortunately correct, I'm curious what other solutions to usual problems bitcoin can provide, as it stands now the volatility/transaction costs/speed/immutability of transactions are going to be felt badly.
- gruez 5y ago>You basically just described a modern bank In what way? The "make their own exchange where people can park funds and 'transfer' funds on paper" bit? The lightning network allows this to be done without trusting your exchange with your funds since transfers are nearly free and instant.