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It's a bit too soon, but at some point, one of the large banks(probably coinbase or circle) will be issueing USD on the Bitcoin chain. At that time, the pot-sho
by brighton36 12y ago
It's a bit too soon, but at some point, one of the large banks(probably coinbase or circle) will be issueing USD on the Bitcoin chain. At that time, the pot-shop will accept BTC, which will immediately convert into COINBASEUSD. Problem solved. Junseth articulated this pretty well: http://junseth.com/post/109579766177/the-blockchain-isnt-going-to-enhance-remittance http://junseth.com/post/109579766177/the-blockchain-isnt-goi...
- GrinningFool 12y agoI'm unclear how you got from someone's blog post to "one of the large banks will be issuing..."?
- brighton36 12y agoBitcoin is an amazing Payment Mechanism. But it's not a good unit of account, and possibly not a great store of value. As such, the solution to the problems posted in the parent will likely involve transmission of USD over the Bitcoin network. Banks will be the ones to do this.
- narrowrail 12y agoWhen you say, "one of the large banks" I think of Chase, BofA, Wells Fargo, etc. And, my experience with these entities is that it takes 3 days for them to do ACH transfers (well, the originating account is debited ~immediately, but the destination account doesn't see the $ for 3 days). YMMV.