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I suspect in the long run most of the bitcoin economy, if there continues to be such a thing, will work through payment processing services. These will resembl
by waterlesscloud 14y ago
I suspect in the long run most of the bitcoin economy, if there continues to be such a thing, will work through payment processing services.
These will resemble the banks of today, in that you'll have an account with the service and they'll manage moving your money around for you. Some of this may end up just decreasing one account and increasing another within the same provider.
A lot of people assume these payment services will be just like banks, but that's not necessarily the case. There's certainly room for innovation, and so far there's nothing whatsoever that would require them to be subject to any particular nation's regulations. We'll see how it shakes out.