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Because crypto isn't usable and never will be. It isn't built to handle processing charges of $0.30 plus 3% on a $10 transaction and that it what it is competin
by snarf21 5y ago
Because crypto isn't usable and never will be. It isn't built to handle processing charges of $0.30 plus 3% on a $10 transaction and that it what it is competing with. Instead it is simply speculation and gambling and pump & dump. BTC already uses more power than several countries. Visa uses a fraction of that for a better and more functional system.
And please don't say PoS. PoS is centralized by default. If you are going to be centralized, why do crypto at all?
- tenuousemphasis 5y agoSecond layer technologies are the solution to that problem. We can build systems on top of bitcoin that have some tradeoffs but allow for exponentially more transactions at lower fees. Lightning is one example of these second layer systems. Custodial wallets like Coinbase and others are a poor, but simple and easy example.
- eropple 5y agoFrom a physical or a regulatory perspective, any of those second-order systems are going to be subject to the same money-transmitting laws in place across the world. So you can reimplement the existing money-moving tools with no significant benefits to anybody except the creators of the money-moving tools, who can take a vig instead of a bank or Visa. Let's burn the planet down for that, hell yeah.
- fastball 5y agoHow is PoS centralized by default? You think ETH mining is less concentrated than ETH holding? I know scores of people who hold ETH. I know like 2 people that have tried mining it.
- _Kristijan_ 5y agoThere is not only PoS. Open Representative Voting (ORV) is a working solution: https://docs.nano.org/what-is-nano/overview/ https://docs.nano.org/what-is-nano/overview/