12 ms·
>Right now it's by far the best method to send money accross the globe. No it is not. In banking and in payments, security typically means that there are guara
by hnthrow1010 4y ago
>Right now it's by far the best method to send money accross the globe.
No it is not. In banking and in payments, security typically means that there are guarantees your money will not suddenly disappear or get stolen by hacks and fraud, which cryptocurrencies have zero guarantees against. In fact, it is extremely likely that at some point your money will disappear, because the value of these coins is extremely manipulated. And that is not even getting into the huge number of defi hacks, rug pulls and bankruptcies that have happened recently.
- Spivak 4y agoI mean sure but for the specific problem of sending money between two a people who have already established an out of band trust relationship but who reside in different parts of the globe the blockchain is a fine solution that’s secure, fast, and cheap (and the alternatives aren’t)