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The thing is there is almost no use case there where using the blockchain adds any improvement over the existing solutions and it comes with a large cost. Most
by sanswork 11y ago
The thing is there is almost no use case there where using the blockchain adds any improvement over the existing solutions and it comes with a large cost. Most companies/banks don't care/are comfortable with centralization so decentralization for the sake of it isn't a great sell.
There is a lot of room for improvement in traditional banking but bitcoin doesn't really solve those problems.
- yuddil 11y agoI think the only real advantage Bitcoin has is as a proxy currency for illegal online financial transactions - ones where you'd like to obtain some measure of anonymity. Of particular note, the darknet markets such as Silk Road and its ilk. Of course it requires the other side of Bitcoin, the hype and speculation, so users can easily convert to and from real money.
- billions 11y agoTell that to Argentinians. Inflation led their currency to bankruptcy 3 times in 100 years. When government moves cash out of constituents pockets directly into those of politicians, bitcoin is a practical alternative. Which third world currency would YOU rather hold over bitcoin?
- sanswork 11y agoUSD is a far better store of value from them then bitcoin which has lost how much of its value in the past year?