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What's the difference between this and something like Venmo, Paypal, etc?
by aurareturn 3y ago
What's the difference between this and something like Venmo, Paypal, etc?
- seydor 3y agoi suppose they can't demonetize you without a legal reason and the fees will be set by the governemnet , not shareholders
- deleted 3y ago[deleted]
- rcxdude 3y agohopefully significantly less moralising on the use of the funds and random unaccountable freezing of accounts.
- cyberneticist 3y agoIt ultimately comes down to being able to go to a physical location and get coins/paper or not. I just don't see what the value is of having my account denominated in a way that getting coins/paper is gone. Even if we went to all digital money tomorrow we would probably quickly get a bank that denominates in gold and gives you back paper slips for proof of deposit. Or doesn't even bother with gold and gives paper slips of electronic currency deposits. We can't even get rid of useless pennies in the US.
- jfkimmes 3y agoIt's private for the user. Transactions are only between you and the merchant. Credit card networks, PayPal, etc are all third parties with insight into all Payments going through them globally. It's offline. Neither you nor the merchant have to have a connection to the bank for the transaction to happen.