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Visa isn't a currency, you could compare it to a payment provider on the BTC chain not to BTC itself. The $ is a better equivalent, it requires a military, thou
by nathias 5y ago
Visa isn't a currency, you could compare it to a payment provider on the BTC chain not to BTC itself. The $ is a better equivalent, it requires a military, thousands of banks, people flying private jets to organize etc.
- tsimionescu 5y agoA dollar is just a bit value in someone's DB. The military, thousands of banks, and people flying private jets are all propping up the economy, not the dollar. They are propping up the value of BTC in fact, more or less as much as they are propping up the dollar. Visa is exactly the right equivalent to the BTC network.
- nathias 5y agoReally? You don't think there might be something more to currencies than a bit in someone's DB? You're confusing representation for the thing.
- randomhodler84 5y agoYeah, cos if so, I’d rather trust an immutable globally replicated write only db protected by the largest computational network on the planet than some mutable db sitting in a rack in a banks data center :-)
- detritus 5y agoIs that not exactly what parent implied?
- boopboopbadoop 5y agoTo complicate things more, when crypto is stolen from a US citizen/corp, what authority gets pulled in to deal with it? Should that authority then be counted in the equation?