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> easy to transfer from one party to another "Let me just set up my P2P connection to the Bitcoin network and pay mining fees and hope a miner validates the bl
by philipwhiuk 9mo ago
> easy to transfer from one party to another
"Let me just set up my P2P connection to the Bitcoin network and pay mining fees and hope a miner validates the block"
vs
"Here's a bar of gold mate"
Sure, real easy
- RealityVoid 9mo ago> "Here's a bar of gold mate" Yeah, super convenient. Well worth it. I'll just go with gold bars on me to the market to buy lettuce.
- throwaway132448 9mo agoNobody is talking about using Bitcoin or gold for transactions. For which nobody does anyway. The whole discussion is about reserves.
- RealityVoid 9mo agoOP was literally comparing payments in gold and in crypto. For which kind of transactions? I admit, it was unspecified, and it might have read too much into it. By it sure does sound simpler to type some numbers that to cut up pieces of metal.
- krupan 9mo agoOK, how do I know that gold is pure and real? What if you live on the other side of the world and I want to buy that gold from you? And there isn't any "hope" involved in bitcoin transactions. Connecting to the peer to peer network is super simple (way, way easier than creating a brokerage or bank account, and no ID or approval is required). Miners will pick up your transaction (and yes fees will help speed that up, as with any financial transaction) and it will be included in a block. Bitcoin has been doing this non-stop, flawlessly since 2009.
- nitwit005 9mo agoBitcoin doesn't really solve the trust issue, because it covers half the transaction. If I send you a bunch of bitcoin in exchange for oil, how do I ensure the oil shows up? There are fixes to that problem, of course, but it's not bitcoin itself that's the solution.
- krupan 9mo ago50% of a transaction verified is a whole lot better than 0%
- direwolf20 9mo ago[dead]