4 ms·

So bitcoin "solves" the problem by being non-compliant with local laws and regulations.

• randomran01234 4y ago
  Crypto attempts to solve the problem in the same way that web protocols and web standards do. Define a single shared spec that spans all geographic borders, rather than a spec that is reinvented at each jurisdiction.
  • lottin 4y ago
    And this violates the spec that is already in force in each jurisdiction.
    • randomran01234 4y ago
    • IanCal 4y ago
      I don't get your point here, there's not a legally required minimum fee being skipped.
      • lottin 4y ago
        Few countries allow unrestricted movement of people, goods and capitals across their borders. Payment systems that are meant to support cross-border transactions need to deal with that. If your way of dealing with these regulations is ignoring them, well... now you have two problems.
        • warkdarrior 4y ago
          Hmmm, it's almost as if cryptocurrencies are the regexes of the financial world.
• danuker 4y ago
  Which regulations? Don't the regulations pertain to transfer of government currency through banks? Banks have the privilege of being legally required for any transaction greater than 10k euros or such. Therefore it is only fair that they must ensure cheap service.