4 ms·
With that sentence, I meant that bankless people suffer hardship because they can't get access to basic banking services like savings accounts, currency exchang
by dangerlibrary 12y ago
With that sentence, I meant that bankless people suffer hardship because they can't get access to basic banking services like savings accounts, currency exchanges, and money lending.
Simply because a financial institution that provides those services transacts in bitcoin doesn't make it any more ethical/moral than a traditional bank. While it's true that bitcoin doesn't have a central monetary authority, you still need a gateway to exchange currency for BTC (currency exchange), some way to safely store your private keys (savings accounts), and lenders.
For most bankless people, a trusted third party is going to be involved somewhere along the way, BTC or not.
- jnbiche 12y ago>With that sentence, I meant that bankless people suffer hardship because they can't get access to basic banking services like savings accounts, currency exchanges, and money lending. That's exactly who I'm talking about. And I think this will be the group who adopts Bitcoin, because there's a lot of friction in that market. Bitcoin is being seeing major adoption by markets with significant friction (silk road -> gambling sites -> ?). >While it's true that bitcoin doesn't have a central monetary authority, you still need a gateway to exchange currency for BTC (currency exchange), some way to safely store your private keys (savings accounts), and lenders. I agree that there will be a transition period. No comment on my call for mutual respect?
- dangerlibrary 12y agoSorry, just saw this - am I being at all disrespectful? I had no intention of doing anything other than striking up a conversation with people with a different viewpoint and more information than me.