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First, physical cash is still the norm in most of the world. Second, higher competition in the payments ecosystem would force providers to reduce their fees. T
by Fragoel2 5y ago
First, physical cash is still the norm in most of the world.
Second, higher competition in the payments ecosystem would force providers to reduce their fees. The glaring example is what is happening in San Salvador, where by using Bitcoin they are likekly to save 450 USD millions/year in fees.
- morelisp 5y ago> by using Bitcoin they are likekly to save 450 USD millions/year in fees. More like shift 450mm/year into the pockets of the people running Chivo while creating a media circus to distract from the president's takeover of the judiciary. Freedom!
- VMG 5y agoThis is incorrect. The transaction costs are very low and you are free to choose whatever wallet you want.
- morelisp 5y ago> The transaction costs are very low That's why the government even preemptively allocated $150mm for them, I guess? > you are free to choose whatever wallet you want. Unless you want assistance at one of the official facilities, or the promised stimulus. Half the population is supposedly on Chivo. Defaults matter, especially if your goal is graft and not a sustainable and beneficial economic policy. I also notice you only tried to contradict the parts critical to dear bitcoin, not about growing autocracy.
- VMG 5y agowhy should I defend an autocrat?
- DonHopkins 5y agoBetter question: Why should you shill a get-rich-quick pyramid scheme that destroys the environment, causes climate change, wastes energy, burns coal, and causes cancer and lung disease?
- morelisp 5y ago... and despite all its rhetoric about freedom, seems to be associated primarily with oligarchs, autocrats, and the biggest winners of traditional capitalism.