5 ms·

That's an interesting take. The actual transfer is the one big upside I see of crypto over wire. And remember 'wire' is not a currency, we're comparing transf

That's an interesting take. The actual transfer is the one big upside I see of crypto over wire. And remember 'wire' is not a currency, we're comparing transfers here not the suitability of a currency ('wire' as an independent concept has none). I've done many wire transfers and many crypto transfers and the one consistent thing I've found is the crypto transfers are both cheaper and faster. If I could do crypto transfers with old school stable currency (not some cheesy stablecoin hoodwinker in the Bahamas) it'd be the holy grail.

toomuchtodo 4y ago
FedNow instant payments?
RC_ITR 4y ago
>I've done many wire transfers and many crypto transfers and the one consistent thing I've found is the crypto transfers are both cheaper and faster. Don't fall into the trap of "current centralized system has problems, current decentralized system is different (in your opinion better), therefore decentralized is better" Centralized payments will always be faster/cheaper than decentralized, just from a first-principles architecture standpoint, so we should be working on making those better (cynically, we are, they just get less attention because retail investors can't speculate on those technologies as easily)
- notch656a 4y ago
  "Better" is not a universal truth. It is dependent on the context of the individual transaction. If you simply refuse to acknowledge that crypto might be cheaper and/or faster than available traditional finance options for some particular transactions, not in the theoretical but in the real-word options present, then I simply yield that you must live in an alternate reality than many people. One thing I really hate is losing money and losing time, and the very narrow circumstances where I have used crypto to buy goods (legal goods) I sure as hell wasn't going through the pain in the ass of dealing with crypto for ideological reasons.
  - RC_ITR 4y ago
    >"Better" is not a universal truth. It is dependent on the context of the individual transaction. Where did I call anything better? >If you simply refuse to acknowledge that crypto might be cheaper and/or faster than available traditional finance options for some particular transactions, not in the theoretical but in the real-word options present, then I simply yield that you must live in an alternate reality than many people. Uhh, ok what transactions are currently cheaper using crypto? Don't you dare say Forex because you're wrong if you do. Then what are the ones you think could be cheaper and why?
    - deleted 4y ago
      [deleted]
- deleted 4y ago
  [deleted]

toomuchtodo 4y ago

FedNow instant payments?

RC_ITR 4y ago

>I've done many wire transfers and many crypto transfers and the one consistent thing I've found is the crypto transfers are both cheaper and faster. Don't fall into the trap of "current centralized system has problems, current decentralized system is different (in your opinion better), therefore decentralized is better" Centralized payments will always be faster/cheaper than decentralized, just from a first-principles architecture standpoint, so we should be working on making those better (cynically, we are, they just get less attention because retail investors can't speculate on those technologies as easily)

notch656a 4y ago
"Better" is not a universal truth. It is dependent on the context of the individual transaction. If you simply refuse to acknowledge that crypto might be cheaper and/or faster than available traditional finance options for some particular transactions, not in the theoretical but in the real-word options present, then I simply yield that you must live in an alternate reality than many people. One thing I really hate is losing money and losing time, and the very narrow circumstances where I have used crypto to buy goods (legal goods) I sure as hell wasn't going through the pain in the ass of dealing with crypto for ideological reasons.
- RC_ITR 4y ago
  >"Better" is not a universal truth. It is dependent on the context of the individual transaction. Where did I call anything better? >If you simply refuse to acknowledge that crypto might be cheaper and/or faster than available traditional finance options for some particular transactions, not in the theoretical but in the real-word options present, then I simply yield that you must live in an alternate reality than many people. Uhh, ok what transactions are currently cheaper using crypto? Don't you dare say Forex because you're wrong if you do. Then what are the ones you think could be cheaper and why?
  - deleted 4y ago
    [deleted]
deleted 4y ago
[deleted]